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                                  EXHIBIT 10.3

                              EMPLOYMENT AGREEMENT

     THIS EMPLOYMENT AGREEMENT (the "Agreement") is made as of the 28th day of
July, 2003, between AmericasBank (the "Bank" or "Employer"), a
Maryland-chartered commercial bank and a wholly owned subsidiary of AmericasBank
Corp, Inc., and John D. Muncks, a resident of the State of Maryland (the
"Employee").

                                    RECITALS:

     The Employer desires to employ the Employee as the Executive Vice President
and Chief Lending Officer of the Employer and the Employee desires to accept
such employment.

     In consideration of the above premises and the mutual agreements
hereinafter set forth, the parties hereby agree as follows:

1.  DEFINITIONS. Whenever used in this Agreement, the following terms and their
variant forms will have the meaning set forth below:

     1.1  "Agreement" means this Agreement and any exhibits incorporated herein
together with any amendments hereto made in the manner described in this
Agreement.

     1.2  "Affiliate" means any business entity which controls the Employer, is
controlled by or is under common control with the Employer.

     1.3  "Board" means the board of directors of the Bank.

     1.4 "Business of the Employer" means the business conducted by the
Employer, which is community banking.

     1.5  "Cause" shall include personal dishonesty, willful misconduct, breach
of fiduciary duty involving personal profit, intentional failure to perform
stated duties as set forth in Exhibit A, willful violation of any law, rule or
regulation (other than traffic violations or similar offenses) or final cease
and desist order or a material breach of any material provision of this
Agreement, provided, however, that no termination of employment which is
triggered by a material breach of any material provision of this Agreement shall
constitute a termination of employment for Cause unless the Employer has first
provided the Employee with the opportunity to cure the event or conduct by
giving the Employee a written notice describing in sufficient detail the
Employer's belief that Cause exists and the Employer defers termination of
employment until the expiration of a ninety (90) day cure period, beginning with
the date such notice is received by the Employee.

     1.6  "Company" means any entity that controls the Bank

     1.7  "Company Information" means Confidential Information and Trade
Secrets.

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     1.8  "Confidential Information" means data and information relating to the
business of the Employer (which does not rise to the status of a Trade Secret)
and/or an Affiliate which is or has been disclosed to the Employee or of which
the Employee became aware as a consequence of or through the Employee's
relationship to the Employer and which has value to the Employer and is not
generally known to its competitors. Confidential Information does not include
any data or information that has been voluntarily disclosed to the public by the
Employer (except where such public disclosure has been made by the Employee
without authorization) or that has been independently developed and disclosed by
others, or that otherwise enters the public domain through lawful means.

     1.9  "Change in Control" means any one of the following events:

          (a) the acquisition, subsequent to the Recapitalization, by any person
     or persons acting in concert of the then outstanding voting securities of
     either the Bank or the Company, if, after the transaction, the acquiring
     person (or persons) owns, controls or holds with power to vote fifty
     percent (50%) or more of any class of voting securities of the Bank or the
     Company, as the case may be, or such other transaction as may be described
     under 12 C.F.R. Section 225.41(b)(1) or any successor thereto;

          (b) the approval, subsequent to the Recapitalization, by the
     stockholders of either the Bank or the Company of a reorganization, merger
     or consolidation, with respect to which persons who were the stockholders
     of either the Bank or the Company, as the case may be, immediately prior to
     such reorganization, merger or consolidation do not, immediately
     thereafter, own more than fifty percent (50%) of the combined voting power
     entitled to vote in the election of directors of the reorganized, merged or
     consolidated company's then outstanding voting securities;

          (c) the sale, transfer or assignment of all or substantially all of
     the assets of the Company or the Bank to any third party; or

     1.10 "Effective Date" means July 28, 2003.

     1.11 "Good Reason" means, any of the following events or conduct preceding
a termination of employment initiated by the Employee:

          (a) a material diminution in the powers, responsibilities or duties of
     the Employee hereunder;

          (b) a material breach of any provision of this Agreement by the
     Employer;

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          (c) a change in the location of the principal office of Employee more
     than thirty five (35) miles from its existing location;

          (d) the termination of the President and CEO for reason other than
     Cause; or

          (e) a regulatory agency with authority to declare the Bank insolvent
     and appoint a receiver does declare the Bank insolvent and appoint a
     receiver;

provided, however, that no termination of employment which is triggered by any
conduct or event described in this Section 1.11 except for Section 1.11(d) or
Section 1.11(e) shall constitute a termination of employment for Good Reason
unless the Employee has first provided the Employer with the opportunity to cure
the event or conduct by giving the Employer a written notice describing in
sufficient detail the Employee's belief that a Good Reason exists and the
Employee defers resigning until the expiration of a ninety (90) day cure period,
beginning with the date such notice is received by the Employer. If Employee
terminates his employment pursuant to Section 1.11(d), then (i) the Employee
must provide written notice of such termination to Employer at least 180 days
prior to the effective date of termination (the "Notice Period"), and (ii) to
ensure the continuity of management, the Employee shall dutifully and faithfully
continue to perform his duties and responsibilities hereunder throughout the
Notice Period. The Employee's right to terminate his employment pursuant to
Section 1.11(d) expires if no written notice is submitted to the Employer within
180 days of the effective date of termination of the President and CEO for
reason other than Cause .

     1.12 "Permanent Disability" means the total inability of the Employee to
perform the Employee's duties under this Agreement for a period of one hundred
and eighty (180) consecutive days as certified by a physician chosen by the
Employer and reasonably acceptable to the Employee.

     1.13 "Recapitalization" means one or more sale or sales of stock for cash
or the issuance of one or more debt instrument or debt instruments in a
cumulative amount not to exceed $5,000,000 by Employer or an Affiliate of
Employer through one or more stock or debt offerings within 18 months of the
effective date.

     1.14 "Trade Secrets" means information including, but not limited to,
technical or nontechnical data, formulas, patterns, compilations, programs,
devices, methods, techniques, drawings, processes, financial data, financial
plans, product plans or lists of actual or potential customers or suppliers
which:

          (a) derives economic value, actual or potential, from not being
     generally known to, and not being readily ascertainable by proper means by,
     other persons who can obtain economic value from its disclosure or use; and

          (b) is the subject of efforts that are reasonable under the
     circumstances to maintain its secrecy.

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2.  DUTIES.

     2.1  The Employee is employed as the Executive Vice President and Chief
Lending Officer of the Bank, subject to the direction of President of the Bank,
must perform and discharge well and faithfully the duties which may be assigned
to him from time to time by the Employer in connection with the conduct of its
business. The duties and responsibilities of the Employee are set forth on
Exhibit A [to be drafted by Employee and approved by Employer] attached hereto.

     2.2  In addition to the duties and responsibilities specifically assigned
to the Employee pursuant to Section 2.1 hereof, the Employee must:

          (a) devote substantially all of the Employee's time, energy and skill
     during regular business hours to the performance of the duties of the
     Employee's employment (reasonable vacations and reasonable absences due to
     illness excepted) and faithfully and industriously perform such duties;

          (b) diligently follow and implement all management policies and
     decisions communicated to him by the Board; and

          (c) timely prepare and forward to the Board all reports and accounting
     as may be requested of the Employee.

     2.3  The Employee must not during the Term of this Agreement be engaged
(whether or not during normal business hours) in any other business or
professional activity, whether or not such activity is pursued for gain, profit
or other pecuniary advantage; but this will not be construed as preventing the
Employee from:

          (a) investing the Employee's personal assets in businesses which are
     not in competition with the Business of the Employer and which will not
     require any services on the part of the Employee in their operation or
     affairs and in which the Employee's participation is solely that of an
     investor;

          (b) purchasing securities in any corporation whose securities are
     regularly traded provided that such purchase will not result in him
     collectively owning beneficially at any time five percent (5%) or more of
     the equity securities of any business in competition with the Business of
     the Employer; and

          (c) materially participating in civic and professional affairs and
     organizations and conferences, preparing or publishing papers or books or
     teaching so long as the Board approves of such activities prior to the
     Employee's engaging in them.

3.  TERM AND TERMINATION.

     3.1  Term. The term of this Agreement will initially be set at three (3)
years commencing on the date hereof. Commencing on the second anniversary date
of this Agreement (the "Anniversary Date"), and continuing on each Anniversary
Date thereafter, this Agreement shall renew for an additional year such that the
remaining term shall be two (2) years unless written

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notice of non- renewal is provided to Employee at least ten (10) and not more
than (30) days prior to such Anniversary Date. Prior to each notice period for
non-renewal, the President and CEO will conduct a comprehensive performance
evaluation and review of the Employee for purposes of determining whether to
extend the Agreement, and shall submit his recommendation to the Compensation
Committee of the Board, or the Board if a Compensation Committee does not exist,
for approval. The results thereof shall be included in the minutes of the
Board's meeting (as so calculated, the "Term").

     3.2  Termination. The employment of the Employee under this Agreement
may be terminated prior to the expiration of the Term only as follows, subject
to the conditions set forth below:

          3.2.1 By the Employer:

               (a) for Cause at any time, subject to the notice and cure period
          contained in Section 1.6 hereof and a determination of Cause by
          two-thirds of the Board non-employee Board members, in which event the
          Employer will have no further obligation to the Employee except for
          the payment of any amounts due and owing under Section 4 on the
          effective date of the termination;

               (b) without Cause any time, provided that the Employer gives the
          Employee sixty (60) days' prior written notice of its intent to
          terminate, in which event the Employer will be required to make the
          termination payments under Section 3.6.1; or

               (c) upon the Permanent Disability of Employee in which event the
          Employer will have no further obligation to the Employee except for
          the payment of any amounts due and owing under Section 4 on the
          effective date of the termination.

          3.2.2 By the Employee:

               (a) for Good Reason in which event the Employer will be required
          to make the termination payments under Section 3.6.1;

               (b) without Good Reason, provided that the Employee gives the
          Employer sixty (60) days' prior written notice of the Employee's
          intent to terminate, in which event the Employer will have no further
          obligation to the Employee except for future payment of any amounts
          due and owing under Section 4 on the effective date of the
          termination; or

               (c) upon the Permanent Disability of the Employee in which event
          the Employer will have no further obligation to the Employee except
          for the payment of any amounts due and owing under Section 4 on the
          effective date of the termination.

          3.2.3 By the Employee: within six (6) months following a Change in
          Control; provided that the Employee gives at least thirty (30) days'
          prior written notice to

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          the Employer of the Employee's intention to terminate this Agreement
          with such resignation to be effective immediately, in which event the
          Employer will be required to make a termination payment under Section
          3.6.2; or

          3.2.4 At any time upon mutual, written agreement of the parties, in
          which event the Employer will have no further obligation to the
          Employee except for the payment of any amounts due and owing under
          Section 4 on the effective date of termination unless otherwise set
          forth in the written agreement.

          3.2.5 Immediately upon the Employee's death, in which event the
          Employer will have no further obligation to the Employee except for
          the payment of any amounts due and owing under Section 4 on the
          effective date of termination.

     3.3  Effect of Termination. Termination of the employment of the Employee
pursuant to Section 3.2 will be without prejudice to any right or claim which
may have previously accrued to either the Employer or the Employee hereunder and
will not terminate, alter, supersede or otherwise affect the terms and covenants
and the rights and duties prescribed in this Agreement.

     3.4  Suspension Without Pay. If Employee is suspended and/or temporarily
prohibited from participating in the conduct of the Employer's affairs by a
notice served under Section 8(e)(3) or (g)(1) of the Federal Deposit Insurance
Act, the Employer's obligations under this Agreement will be suspended as of the
date of service thereof, unless stayed by appropriate proceedings. If the
charges in such notice are dismissed, the Employer will in its discretion:

          (a) pay Employee all or part of the compensation withheld while its
     contract obligations were suspended; and/or

          (b) reinstate (in whole or in part) any of its obligations which were
     suspended.

     3.5  Other Regulatory Requirements. If the Bank is in default, as
defined in Section (3)(x)(1) of the Federal Deposit Insurance Act, all
obligations under this Agreement will terminate as the date of such default, but
no vested rights of the Employee will be affected. Further, all obligations
under this Agreement will be terminated, except, to the extent determined that
continuation of the Agreement is necessary for the continued operation of the
Bank:

          (a) by the Director (the "Director") of the Federal Deposit Insurance
     Corporation ("FDIC") or his or her designee, at the time the FDIC enters
     into an agreement to provide assistance to or on behalf of the Bank under
     the authority of the Federal Deposit Insurance Act; or

          (b) by the Director or his or her designee, at the time the Director
     or his or her designee approves a supervisory merger to resolve problems
     relating to the operation of the Bank or when the Bank is determined by the
     Director to be in an unsafe or unsound condition.

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     3.6  Termination Payments.

          3.6.1. In the event and only in the event this Agreement is terminated
by the Employer pursuant to Section 3.2.1(b) or by the Employee pursuant to
Section 3.2.2(a), a Change in Control has not occurred within the immediately
preceding six (6) months, and the Bank has less than a .75% return on average
assets, as defined under general accounting principals ("ROAA") for the
immediately preceding twelve (12) month period, then commencing with the first
payroll date immediately following the effective date of such termination, the
Employer will pay to the Employee as severance pay and liquidated damages an
amount equal to the Employee's monthly Base Salary, as that term is defined in
Section 4.1(a), calculated by dividing the Employee's Base Salary by twelve (12)
("Monthly Base Salary") in nine (9) installments for a period equal to nine (9)
months. In the event this Agreement is terminated by the Employer pursuant to
Section 3.2.1(b) or by the Employee pursuant to Section 3.2.2(a), a Change in
Control has not occurred within the immediately preceding six (6) months, and
the Bank has a greater than 1% ROAA for the immediately preceding twelve (12)
month period, then commencing with the first payroll date immediately following
the effective date of such termination, the Employer will pay to the Employee as
severance pay and liquidated damages an amount equal the Employee's Monthly Base
Salary in twelve (12) installments for a period equal to one (1) year.

     The Bank's obligation to make any payments under this Section 3.6.1 will
immediately terminate upon Employee becoming an employee with an entity other
than Employer except to the extent that the total compensation payable to
Employee is less than the compensation payable under Section 3.6.1 in which
event the Bank's obligation under this Section 3.6.1 will be the difference
between the compensation payable under Section 3.6.1 and the total compensation
paid to Employee by an entity other than the Bank.

          3.6.2. In the event and only in the event a Change in Control has
occurred as described in Sections 1.9 (a), (b) or (c) and this Agreement is
terminated by Employer or by Employee pursuant to Section 3.2.3, the Employee
shall be entitled to the following:

     (a)  if the price paid by the entity or entities acquiring voting
securities, voting control or assets as described in Sections 1.9 (a), (b) or
(c) is less than the then current book value of the Bank or the Company,
Employee will receive a lump sum payment equal to 75% of his then current base
salary; or (b) is equal or greater than book value Employee will receive a lump
sum payment equal to 1.00 times his then current base salary and shall be paid
such lump sum payment by Employer within 30 days of the effective date of
termination of this Agreement.

          3.6.3. Notwithstanding any other provisions to this Agreement to the
contrary, if the aggregate of the payments provided for in this Agreement and
other payments and benefits which the Employee has the right to receive from the
Employer (the "Total Payments") would constitute a "parachute payment," as
defined in Section 280G(b)(2) of the Internal Revenue Code, the Employee shall
receive the Total Payments unless (a) the after-tax amount that would be
retained by the Employee (after taking into account all federal, state and local
income taxes payable by the Employee and the amount of any excise taxes payable
by the Employee under Section 4999 of the Internal Revenue Code that would be
payable by the Employee (the "Excise Taxes")) if the Employee were to receive
the Total Payments has an aggregate value less than

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(b) the after-tax amount that would be retained by the Employee (after taking
into account all federal, state and local income taxes payable by the Employee)
if the Employee were to receive the Total Payments reduced to the largest amount
as would result in no portion of the Total Payments being subject to Excise
Taxes (the "Reduced Payments"), in which case the Employee shall be entitled
only to the Reduced Payments. If the Employee is to receive the Reduced
Payments, the Employee shall be entitled to determine which of the Total
Payments, and the relative portions of each, are to be reduced.

          3.6.4. Any payments made to Employee pursuant to this Agreement, or
otherwise, are subject to and conditioned upon compliance with Section U.S.C.
Section 1828(k) and FDIC regulation 12 C.F.R. Part 359, Golden Parachute and
Indemnification Payments.

4. COMPENSATION AND BENEFITS.

     4.1  Compensation. The Employee will receive the following salary and
benefits:

          (a) Base Salary. During the Term, the Employee will receive a base
     salary at the rate of $95,000 per annum, payable in substantially equal
     installments in accordance with the Bank's regular payroll practices and as
     may be increased by the Bank ("Base Salary"). The Employee's Base Salary
     will be reviewed by the Compensation Committee of the Board or the Board if
     a Compensation Committee does not exist annually, and the Employee will be
     entitled to receive annually an increase of at least 5% of the then current
     Base Salary if the employee receives a satisfactory performance evaluation
     as may be determined by the Board in any year. The Base Salary will be
     renegotiated upwards when the Bank achieves a 1% ROAA for any fiscal year.

          (b) Incentive Compensation.

               (i) In addition to Employee's Base Salary under Section 4.1(a),
          Employee shall be entitled to participate in such incentive plans as
          are described on Exhibit B. The Employee's share of the "pool" as
          defined in the Plan Scope of Exhibit B shall be twenty percent (20%).

               (ii) The Employee will also be entitled to participate in such
          other bonus, incentive and other executive compensation programs as
          are made available to senior management of the Employer from time to
          time.

     The bonus amounts which may be payable to the Employee pursuant to this
Section 4.1(b) is referred to herein as "Incentive Compensation".

     4.2  Compensation as a Director. In the event the Employee is elected a
director of Employer during the Term hereof, the Employee will not be
compensated for attendance at regular and special Board meetings.

     4.3  Business Expenses. The Employer specifically agrees to reimburse the
Employee for reasonable business (including travel) expenses incurred by the
Employee in the performance of the Employee's duties hereunder, as approved from
time to time by the Board provided, however, that the Employee must, as a
condition of reimbursement, submit verification of the nature and

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amount of such expenses in accordance with reimbursement policies from time to
time adopted by the Employer and in sufficient detail to comply with rules and
regulations promulgated by the Internal Revenue Service.

     4.4  Vacation. On a non-cumulative basis the Employee will be entitled to
four weeks vacation in each year of this Agreement in accordance with the
procedures set forth in the Bank's vacation policy as then in effect, during
which the Employee's Base Salary will be paid in full.

     4.5  Benefits. In addition to the Base Salary and Incentive Compensation,
the Employee will be entitled to such benefits as are described on Exhibit C.
All such benefits will be awarded and administered in accordance with the
Employer's standard policies and practices.

     4.6 Withholding. The Employer may deduct from each payment of compensation
hereunder all amounts required to be deducted and withheld in accordance with
applicable federal and state income, FICA and other withholding requirements.

5.   COMPANY INFORMATION.

     5.1  Ownership of Information. All Company Information received
or developed by the Employee while employed by the Employer will remain the sole
and exclusive property of the Employer.

     5.2  Obligations of the Employee. The Employee agrees (a) to hold Company
Information in strictest confidence, and (b) not to use, duplicate, reproduce,
distribute, disclose or otherwise disseminate, either intentionally or in a
grossly negligent manner, Company Information or any physical embodiments
thereof and may in no event take any action causing or fail to take any action
necessary in order to prevent any Company Information from losing its character
or ceasing to qualify as Confidential Information or a Trade Secret. In the
event that the Employee is required by law to disclose any Company Information,
the Employee will not make such disclosure unless (and then only to the extent
that) the Employee has been advised by the Company's legal counsel that such
disclosure is required by law and then only after prior written notice is given
to the Employer when the Employee becomes aware that such disclosure has been
requested and is required by law. This Section 5 will survive the termination of
this Agreement with respect to Confidential Information for so long as it
remains Confidential Information, but for no longer than three (3) years
following termination of this Agreement, and this Section 5 will survive
termination of this Agreement with respect to Trade Secrets for so long as is
permitted by the then-current Maryland Trade Secrets Act.

     5.3  Delivery upon Request or Termination. Upon request by the Employer,
and in any event upon termination of employment with the Employer, the Employee
will promptly deliver to the Employer all property belonging to the Employer,
including without limitation, all Company Information then in the Employee's
possession or control.

6.  NON-COMPETITION. The Employee agrees that during the Term hereunder and, in
the event of the Employee's termination of employment for any reason, thereafter
for a period equal to the greater of (a) six (6) months; or (b) the period
during which the Employee is to be paid monthly termination payments, if any, in
accordance with Section 3.6 hereof, the Employee will not (except on behalf of
or with the prior written consent of the Employer), within the

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geographic area encompassed in a radius of 20 miles of the main office of the
Employer, either directly or indirectly, on the Employee's own behalf or in the
service or on behalf of others, as a principal, partner, officer, director,
manager, supervisor, administrator, executive employee or in any other capacity
which involves duties and responsibilities similar to those undertaken for the
Employer, engage in any business which is the same as or essentially the same as
the Business of the Employer.

7.  NON-SOLICITATION OF CUSTOMERS. The Employee agrees that during the Term
hereunder and, in the event of the Employee's termination of employment for any
reason, thereafter for a period equal to the greater of (a) twelve (12) months;
or (b) the period during which the Employee is to be paid monthly termination
payments, if any, in accordance with Section 3.6 hereof, the Employee will not
(except on behalf of or with the prior written consent of the Employer), within
the geographic area encompassed in a radius of 20 miles of any office or
facility maintained by the Employer, on the Employee's own behalf or in the
service or on behalf of others, solicit or divert or attempt to solicit or
divert, directly or by assisting others, any business from any of the Employer's
customers, including actively sought prospective customers, with whom the
Employee has or had material contact during the last two (2) years of the
Employee's employment, for purposes of providing products or services that are
competitive with those provided by the Employer.

8.  NON-SOLICITATION OF EMPLOYEES. The Employee agrees that during the Term
hereunder and, in the event of the Employee's termination of employment for any
reason, thereafter for a period equal to the greater of (a) twelve (12) months;
or (b) the period during which the Employee is to be paid monthly termination
payments, if any, in accordance with Section 3.6hereof, the Employee will not,
except for Employee's Administrative Assistant, within the geographic area
encompassed in a radius of 20 miles of any office or facility maintained by the
Employer , on the Employee's own behalf or in the service or on behalf of
others, solicit, recruit or hire away or attempt to solicit, recruit or hire
away, directly or by assisting others, any employee of the Employer or its
Affiliates, whether or not such employee is a full-time employee or a temporary
employee of the Employer or its Affiliates and whether or not such employment is
pursuant to written agreement and whether or not such employment is for a
determined period or is at will.

9.  REMEDIES. The Employee agrees that the covenants contained in Sections 5
through 8 of this Agreement are of the essence of this Agreement; that each of
the covenants is reasonable and necessary to protect the business, interests and
properties of the Employer; and that irreparable loss and damage will be
suffered by the Employer should the Employee breach any of the covenants.
Therefore, the Employee agrees and consents that, in addition to all the
remedies provided by law or in equity, the Employer will be entitled to a
temporary restraining order and temporary and permanent injunctions to prevent a
breach or contemplated breach of any of the covenants. The Employer and the
Employee agree that all remedies available to the Employer or the Employee, as
applicable, will be cumulative.

10.  SEVERABILITY. The parties agree that each of the provisions included in
this Agreement is separate, distinct and severable from the other provisions of
this Agreement and that the invalidity or unenforceability of any Agreement
provision will not affect the validity or enforceability of any other provision
of this Agreement. Further, if any provision of this

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Agreement is ruled invalid or unenforceable by a court of competent jurisdiction
because of a conflict between the provision and any applicable law or public
policy, the provision will be redrawn to make the provision consistent with and
valid and enforceable under the law or public policy.

11.  NO SET-OFF BY THE EMPLOYEE. The existence of any claim, demand, action or
cause of action by the Employee against the Employer, or any Affiliate of the
Employer, whether predicated upon this Agreement or otherwise, will not
constitute a defense to the enforcement by the Employer of any of its rights
hereunder. The existence of any claim, demand, action or cause of action by the
Employer against the Employee whether predicated upon this Agreement or
otherwise, will not constitute a defense to the enforcement by the Employee of
any of its rights hereunder.

12. NOTICE. All notices and other communications required or permitted under
this Agreement will be in writing and, if mailed by prepaid first-class mail or
certified mail, return receipt requested, will be deemed to have been received
on the earlier of the date shown on the receipt or three (3) business days after
the postmarked date thereof. In addition, notices hereunder may be delivered by
hand, facsimile transmission or overnight courier, in which event the notice
will be deemed effective when delivered or transmitted. All notices and other
communications under this Agreement must be given to the parties hereto at the
following addresses:

               (i)  If to the Employer, to it at:

                    Mark H. Anders, President
                    500 York Road
                    Towson, Maryland 21204

               (ii) If to the Employee, to the Employee at:

                    122 Riverbreeze Place
                    Arnold, Md. 21012

13. ASSIGNMENT. Employee may not assign or delegate this Agreement or any of its
rights and obligations hereunder without the written consent of the other party
hereto.

14. WAIVER. A waiver by the Employer of any breach of this Agreement by the
Employee will not be effective unless in writing, and no waiver will operate or
be construed as a waiver of the same or another breach on a subsequent occasion.

15. ARBITRATION. Any controversy or claim arising out of or relating to this
Agreement, or the breach thereof, will be settled by binding arbitration in
accordance with the Commercial Arbitration Rules of the American Arbitration
Association. The decision of the arbitration panel will be final and binding on
the parties, and judgment upon the award rendered by the arbitration panel may
be entered by any court having jurisdiction thereof.

16. ATTORNEYS' FEES. All reasonable legal fees paid or incurred by Employee
pursuant to any dispute or question of interpretation relating to this Agreement
shall be paid or reimbursed

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by the Bank, provided that the dispute or interpretation has been settled by the
Employee and the Bank or resolved in the Employee's favor.

17. APPLICABLE LAW. This Agreement will be construed and enforced under and in
accordance with the laws of the State of Maryland only to the extent not
superseded by federal law. The parties agree that any appropriate state court
located in Baltimore County, Maryland, will have jurisdiction of any case or
controversy arising under or in connection with this Agreement and will be a
proper forum in which to adjudicate such case or controversy. The parties
consent to the jurisdiction of such courts.

18. INTERPRETATION. Words importing the singular form shall include the plural
and vice versa. The terms "herein", "hereunder", "hereby", "hereto", "hereof"
and any similar terms refer to this Agreement. Any captions, titles or headings
preceding the text of any article, section or subsection herein are solely for
convenience of reference and will not constitute part of this Agreement or
affect its meaning, construction or effect.

19. ENTIRE AGREEMENT. This Agreement embodies the entire and final agreement of
the parties on the subject matter stated in the Agreement. No amendment or
modification of this Agreement will be valid or binding upon the Employer or the
Employee unless made in writing and signed by both parties. All prior
understandings and agreements relating to the subject matter of this Agreement
are hereby expressly terminated.

20. RIGHTS OF THIRD PARTIES. Nothing herein expressed is intended to or will be
construed to confer upon or give to any person, firm or other entity, other than
the parties hereto and their permitted assigns, any rights or remedies under or
by reason of this Agreement.

21. SURVIVAL. The obligations of the Employee pursuant to Sections 5, 6, 7, 8
and 9 will survive the termination of the employment of the Employee hereunder
for the period designated under each of those respective sections.

22. SOURCE OF PAYMENTS. The Bank will maintain in escrow account (the, "Escrow
Account") at a financial institution in an amount equal to 75% of the Base
Salary for the Employee. The Escrow Account will be the source or partial source
of payments in the event that termination payments are due by the Bank under
Section 3.6.1.

23. REGULATORY APPROVAL. This Agreement and the obligation of the parties
thereunder are contingent upon the approval or nonobjection of the employment of
Employee as described herein by regulatory bodies with jurisdiction over
Employee.

     IN WITNESS WHEREOF, the Employer and the Employee have executed and
delivered this Agreement as of the date first shown above.

                                       12

<PAGE>

                                          THE EMPLOYER:


                                          AmericasBank

                                          By: /s/ Mark H. Anders
                                              ----------------------------------

                                          Name: Mark H. Anders
                                                --------------------------------

                                          Title: President and CEO
                                                --------------------------------


                                          THE EMPLOYEE:

                                          By: /s/ John D. Muncks
                                              ----------------------------------

                                          Name: John D. Muncks
                                               ---------------------------------

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<PAGE>

EXHIBIT A

                                  AmericasBank
                                 JOB DESCRIPTION

     JOB TITLE:    Executive Vice President and Senior Lending Officer
     FSLA:         EXEMPT
     REPORTS TO:   President and CEO

     SUMMARY:

     ESSENTIAL DUTIES AND RESPONSIBILITIES: Specific duties are listed below.
     Other duties may be assigned.

     [To be developed by the Employee and Approved by the President and CEO]

                                       14

<PAGE>

Exhibit B
                                  AmericasBank
                                   Term Sheet
Management Incentive Plan

Purpose:
To attract, retain and reward the senior executive officers of the bank and
other key employees designated by the President and Chief Executive Officer.

Securities:
To be determined. It is contemplated the securities could include: restricted
stock awards and stock options, including discounted options, phantom stock
options, incentive stock options under qualified and non qualified plans.

Plan Scope:
To fully align the interest of management, directors and shareholders in
creating value in the Company. Management would be granted ownership rights in a
pool of securities and options that would only increase in value if management
successfully increases the market value of the Company. The structure and number
of shares in the initial securities pool is to be determined.

Plan Term:
10 years

Option Price:
To be determined based on 100% of the per share value established by a new
valuation.

Vesting:
10% of the total shares awarded will vest upon the hire of the employee or the
adoption of the Plan. The remaining shares will vest within ten years of hire
based on a schedule to be determined. Vesting will be tied to earnings
performance, balance sheet growth, asset quality, and the composite rating
assigned by the bank's regulatory authorities. Shares that do not vest in one
period may vest in subsequent periods so long as the requirements for vesting in
subsequent periods are attained.

Effective Date:
After completion of capital raising offering but not later than March 31, 2004.

                                       15

<PAGE>

EXHIBIT C

     Group Benefits
     Simple IRA - 3% of Base Salary
     Medical - Full Family Coverage at the expense of the Bank.
     Dental - Full Family Coverage at the expense of the Bank.
     Life Insurance: 1 times Annual Salary (we will work on increasing this)
     Accidental Death and Dismemberment
     Short Term Disability

     Other Benefits

     Vacation: Four weeks
     Automobile Allowance: $500 per month

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