Document:

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                                                                   Exhibit 10.10

                               EVANS NATIONAL BANK
                         EXECUTIVE LIFE INSURANCE PLAN

                                  INTRODUCTION

Evans National Bank (the "Bank") wishes to attract and retain highly qualified
officers and directors. To further this objective, the Bank is willing to divide
the death proceeds of certain life insurance policies which are owned by the
Bank on the lives of the participating officers and directors with the
designated beneficiaries.

                                    ARTICLE 1
                                   DEFINITIONS

Whenever used in this Plan, the following terms shall have the meanings
specified:

"Affiliate" means Evans Bancorp, Inc. and any wholly owned subsidiary of Evans
Bancorp, Inc. (other than the Bank) or the Bank.

"Base Annual Salary" means the current base annual salary of the Participant at
the earliest of (1) the date of the Participant's death; (2) the date of the
Participant's Disability; (3) the date the Participant's employment with the
Bank terminates within two years after a Change in Control (except for
Termination for Cause); (4) the date of the Participant's termination of
employment on or after attaining Early Retirement Age; or (5) the Participant's
Normal Retirement Date.

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

     (a)  Merger: The Company merges into or consolidates with another
          corporation, or merges another corporation into the Company and as a
          result less than a majority of the combined voting power of the
          resulting corporation immediately after the merger or consolidation is
          held by persons who were stockholders of the Company immediately
          before the merger or consolidation;

     (b)  Acquisition of Significant Share Ownership: a report on Schedule 13D
          or another form or schedule (other than Schedule 13G) is filed or is
          required to be filed under Sections 13(d) or 14(d) of the Securities
          Exchange Act of 1934, if the schedule discloses that the filing person
          or persons acting in concert has or have become the beneficial owner
          of 25% or more of a class of the Company's voting securities, but this
          clause (b) shall not apply to beneficial ownership of Company voting
          shares held in a fiduciary capacity by an entity of which Company
          directly or indirectly beneficially owns 50% or more of its
          outstanding voting securities;

     (c)  Change in Board Composition: during any period of two consecutive
          years, individuals who constitute the Company's Board of Directors at
          the beginning of the two-year period cease for any reason to
          constitute at least a majority of the Company's Board of Directors;
          provided, however, that for purposes of this clause (c) each director
          who is first elected by the board (or first nominated by the board for
          election by stockholders) by a vote of at least two-thirds (b) of the
          directors who were directors at the beginning of the period shall be
          deemed to have been a director at the beginning of the two-year
          period; or

     (d)  Sale of Assets: The Company sells to a third party all or
          substantially all of the Company's assets.

"Company" means Evans Bancorp, Inc., a New York corporation, and any successors
thereto.

"Director" means a non-employee member of the Board of Directors of the Bank or
an Affiliate.

"Disability" means the Participant's suffering a sickness, accident or injury
which has been determined by the carrier of any individual or group disability
insurance policy covering the Participant, or by the Social Security
Administration, to be a disability rendering the Participant totally and
permanently disabled. The Participant must submit proof to the Bank of the
carrier's or Social Security Administration's determination upon the request of
the Bank.

"Early Retirement Age" means the Participant has attained an age such that the
sum of the Participant's age and Years of Service (rounded up to the next full
year) at termination totals at least 75.

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"Insured" means the individual whose life is insured.

"Insurer" means the insurance company issuing the life insurance policy on the
life of the Insured.

"Normal Retirement Age" means the Participant attaining age 65.

"Normal Retirement Date" means the later of the Normal Retirement Age or the
date that the Participant terminates or is terminated for any reason other than
Termination for Cause.

"Participant" means an officer of the Bank or an Affiliate or a Director who is
designated as a Participant in Appendix A to the Plan and elects in writing to
participate in the Plan using the form attached hereto as Appendix B, and by
signing a split dollar endorsement for the Policy under which he or she is the
Insured.

"Policy" or "Policies" means the individual insurance policy or policies
acquired by the Bank for purposes of insuring a Participant's life under this
Plan.

"Plan" means this Evans National Bank Executive Life Insurance Plan.

"Terminated for Cause" or "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 infractions) or a final cease-and-desist order.

"Years of Service" means the total number of twelve-month periods during which
the Participant serves as an employee of the Bank.

                                    ARTICLE 2
                                 PARTICIPATION

2.1  PARTICIPATION. A Participant may commence participation in this Plan by
     executing an Election to Participate and a split dollar endorsement for
     each Policy. The split dollar endorsement shall bind the Participant and
     his or her beneficiaries, assigns and transferees, to the terms and
     conditions of this Plan.

2.2  TERMINATION OF PARTICIPATION. In the case of a Participant who is an
     officer of the Bank or an Affiliate, a Participant's rights under this Plan
     shall cease and his or her participation in this Plan shall terminate if
     any of the following events occur:

     (a)  If the Participant is Terminated for Cause;

     (b)  If the Participant's employment is terminated prior to his Early
          Retirement Age for reasons other than Disability or following a Change
          in Control; or

     (c)  If the Participant terminates employment due to Disability and
          thereafter becomes gainfully employed with an entity other than the
          Bank.

     In the case of a Participant who is a Director, participation shall
     terminate only upon Termination for Cause.

     In the event that the Bank decides to maintain the Policy after the
     Participant's termination of participation in the Plan, the Bank shall be
     the direct beneficiary of the entire death proceeds of the Policy.

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2.3  MAINTAINING THE POLICY AND ENDORSEMENT UNTIL DEATH. If any of the events
     listed below occur, the Bank shall maintain the Policy in full force and
     effect and, in no event, shall the Bank amend, terminate or otherwise
     abrogate the Participant's interest in the Policy, unless the Participant
     agrees pursuant to Section 8.1. The Bank may replace the Policy with a
     comparable insurance policy to cover the benefit provided under this
     Agreement if the Bank and Participant execute a new split dollar policy
     endorsement for a comparable benefit.

     (a)  Disability. If the Participant's employment is terminated due to
          Disability, except as set forth in section 2.2(c) herein.

     (b)  Retirement. If the Participant's employment is terminated on or after
          Early Retirement Age (except for Termination for Cause).

     (c)  Change in Control. If the Participant's employment terminates within
          two years after a Change in Control (except for Termination for
          Cause).

                                    ARTICLE 3
                           POLICY OWNERSHIP/INTERESTS

3.1  PARTICIPANT'S INTEREST. With respect to each Policy, the Participant or the
     Participant's assignee shall have the right to designate the beneficiary of
     one of the following death benefits:

     (a)  If the Participant is an officer of the Bank or an Affiliate and was
          first employed by the Bank or an Affiliate on or before May 2, 1992,
          the death benefit shall be 3.75 times the Participant's Base Annual
          Salary, less the Participant's $50,000 group term life insurance
          benefit under the Bank's group term life insurance policy.

     (b)  If the Participant is an officer of the Bank or an Affiliate and was
          first employed by the Bank or an Affiliate after May 2, 1992, the
          death benefit shall be two times the Participant's Base Annual Salary,
          less the Participant's $50,000 group term life insurance benefit under
          the Bank's group term life insurance policy.

     (c)  In the case of a Participant who is a Director, the death benefit
          shall be $200,000.

     The Participant shall also have the right to elect and change settlement
     options with the consent of the Bank and the Insurer to the extent of the
     Participant's death benefits.

3.2  BANK'S INTEREST. Except to the extent provided in Section 2.3, the Bank
     shall own the Policies and shall have the right to exercise all incidents
     of ownership except that the Bank shall not sell, surrender or transfer
     ownership of a Policy so long as a Participant has an interest in the
     Policy. With respect to each Policy, the Bank shall be the direct
     beneficiary of the remaining death proceeds of the Policy after the
     Participant's interest is determined according to section 3.1.

                                    ARTICLE 4
                                    PREMIUMS

4.1  PREMIUM PAYMENT. The Bank shall pay all premiums due on all Policies.

4.2  IMPUTED INCOME. The Bank shall annually impute income to each Participant
     in the minimum amount required under applicable federal tax law based on
     the net death benefit payable to the Participant's beneficiary during the
     calendar year.

                                    ARTICLE 5
                                   ASSIGNMENT

Any Participant may assign without consideration all interests in his or her
Policy and in this Plan to any person, entity or trust. In the event a
Participant shall transfer all of his or her interest in the Policy, then all of
that Participant's interest in his or her Policy and in the Plan shall be vested
in his or her transferee, who shall be substituted as a party hereunder, and
that Participant shall have no further interest in his or her Policy or in this
Plan.

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                                    ARTICLE 6
                                     INSURER

The Insurer shall be bound only by the terms of their corresponding Policy. Any
payments the Insurer makes or actions it takes in accordance with a Policy shall
fully discharge it from all claims, suits and demands of all persons relating to
that Policy. The Insurer shall not be bound by the provisions of this Plan. The
Insurer shall have the right to rely on the Bank's representations with regard
to any definitions, interpretations, or Policy interests as specified under this
Plan.

                                    ARTICLE 7
                            ADMINISTRATION AND CLAIM

Section 7.1 ADMINISTRATION.

     The administration of the Plan, the exclusive power to interpret it, and
     the responsibility for carrying out its provisions are vested in the Board,
     which may, at any time, by resolution of the Board, delegate such functions
     to a committee of the Board. The Board shall have the authority to resolve
     any question under the Plan. The determination of the Board as to the
     interpretation of the Plan or any disputed question shall be conclusive and
     final to the extent permitted by applicable law.

Section 7.2 CLAIMS PROCEDURES.

     (a)  Claims for benefits under the Plan shall be submitted in writing to
          the Chairman of the Board.

     (b)  If any claim for benefits is wholly or partially denied, the claimant
          shall be given written notice within a reasonable period following the
          date on which the claim is filed, which notice shall set forth:

          (i)   the specific reason or reasons for the denial;

          (ii)  specific reference to pertinent Plan provisions on which the
                denial is based;

          (iii) a description of any additional material or information
                necessary for the claimant to perfect the claim and an
                explanation of why such material or information is necessary;
                and

          (iv)  an explanation of the Plan's claim review procedure.

     If the claim has not been granted and written notice of the denial of the
     claim is not furnished in a timely manner following the date on which the
     claim is filed, the claim shall be deemed denied for the purpose of
     proceeding to the claim review procedure.

     (c)  The claimant or his authorized representative shall have 30 days after
          receipt of written notification of denial of a claim to request a
          review of the denial by making written request to the Chairman of the
          Board, and may review pertinent documents and submit issues and
          comments in writing within such 30-day period.

     (d)  After receipt of the request for review, the Board shall, in a timely
          manner, render and furnish to the claimant a written decision, which
          shall include specific reasons for the decision and shall make
          specific references to pertinent Plan provisions on which it is based.
          Such decision by the Board shall not be subject to further review. If
          a decision on review is not furnished to a claimant, the claim shall
          be deemed to have been denied on review.

     (e)  No claimant shall institute any action or proceeding in any state or
          federal court of law or equity or before any administrative tribunal
          or arbitrator for a claim for benefits under the Plan until the
          claimant has first exhausted the provisions set forth in this section.

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                                    ARTICLE 8
                           AMENDMENTS AND TERMINATION

8.1  AMENDMENT OR TERMINATION OF PLAN. Except as otherwise provided in sections
     2.3 and 8.2, the Bank may amend or terminate the Plan at any time.

8.2  AMENDMENT OR TERMINATION OF PLAN UPON CHANGE IN CONTROL. Notwithstanding
     the provisions of section 8.1, in the event of a Change in Control, the
     Bank, or its successor, shall maintain in full force and effect each Policy
     that is in existence on the date the Change in Control occurs and shall not
     terminate or otherwise abrogate a Participant's interest in the Policy.
     However, the Bank may replace the Policy with a comparable insurance policy
     to cover the benefit provided under this Plan to the Participant. This
     section 8.2 shall apply to all Participants in the Plan on the date the
     Change in Control occurs, including but not limited to (i) a retired
     Participant who has an interest in a Policy; (ii) a disabled Participant
     who has an interest in a Policy; and (iii) a Participant whose employment
     terminates within two years of a Change in Control.

                                    ARTICLE 9
                                  MISCELLANEOUS

9.1  BINDING EFFECT. This Plan in conjunction with each split dollar endorsement
     shall bind each Participant and the Bank, their beneficiaries, survivors,
     executors, administrators and transferees and any Policy beneficiary.

9.2  NO GUARANTEE OF EMPLOYMENT. This Plan is not an employment policy or
     contract. It does not give a Participant the right to remain an employee of
     the Bank, nor does it interfere with the Bank's right to discharge a
     Participant. It also does not require a Participant to remain an employee
     nor interfere with a Participant's right to terminate employment at any
     time.

9.3  APPLICABLE LAW. The Plan and all rights hereunder shall be governed by and
     construed according to the laws of the State of New York, except to the
     extent preempted by federal law.

9.4  NOTICE. Any notice, consent or demand required or permitted to be given
     under the provisions of this Plan by one party to another shall be in
     writing, shall be signed by the party giving or making the same, and may be
     given either by delivering the same to such other party personally, or by
     mailing the same, by United States certified mail, postage prepaid, to such
     party, addressed to his/her last known address as shown in the records of
     the Bank. The date of such mailing shall be deemed the date of such mailed
     notice, consent or demand.

9.5  ENTIRE AGREEMENT. This Plan constitutes the entire agreement between the
     Bank and the Participant as to the subject matter hereof. No rights are
     granted to the Participants by virtue of this Plan other than those
     specifically set forth herein.

9.6  DESIGNATED FIDUCIARY. For purposes of the Employee Retirement Income
     Security Act of 1974, if applicable, the Bank shall be the named fiduciary
     and plan administrator under the Agreement. The named fiduciary may
     delegate to others certain aspects of the management and operational
     responsibilities of the Plan, including the employment of advisors and the
     delegation of ministerial duties to qualified individuals.

9.7  SEVERABILITY. If for any reason any provision of this Agreement is held
     invalid such invalidity shall not affect any other provision of this
     Agreement not held so invalid, and each such other provision shall, to the
     full extent consistent with the law, continue in full force and effect. If
     any provision of this Agreement shall be held invalid in part, such
     invalidity shall in no way affect the rest of such provision, not held so
     invalid, and the rest of such provision, together with all other provisions
     of this Agreement shall, to the full extent consistent with the law,
     continue in full force and effect.

9.8  HEADINGS. The headings of Sections herein are included solely for
     convenience of reference and shall not affect the meaning or interpretation
     of any provision of this Agreement.

9.9  EFFECTIVE DATE. The effective date of the Plan is April 1, 2003.

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                                   APPENDIX A

DIRECTORS

Phillip Brothman
Thomas H. Waring, Jr.
Robert W. Allen
William F. Barrett
James Biddle, Jr.
Laverne G. Hall
David M. Taylor

OFFICERS

James Tilley
William Glass
Mark DeBacker
Robert Miller, Jr.
Michael Noville
Jeffrey Werdein
Michael Schafer
Jeffrey White
Susan Herold
Katherine Allen
George Catalano
Howard Martin
Timothy Jachlewski
John Connerton
Mary Jo Shults
Ron Miller
Lou Atti
Fred Gould
Emily Hazlett

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                                   APPENDIX B

ELECTION TO PARTICIPATE

I,_____________________________________ , hereby elect to become a Participant
in the Plan in accordance with Section 2.2 of the Plan. Additionally, I
acknowledge that I have read the Plan document and agree to be bound by its
terms.

Executed this ________ day of ______________, 2003.

_____________________________________
Participant

_____________________________________
Witness

Accepted by Evans National Bank:

By:__________________________________

                                       94<PAGE>

                                                                   Exhibit 10.11

                               EVANS NATIONAL BANK
                     SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

                                    ARTICLE 1
                      DESCRIPTION, PURPOSE AND DEFINITIONS

1.1  NAME. The name of this Plan is the "Evans National Bank Supplemental
Executive Retirement Plan."

1.2  PURPOSE. The purpose of the Plan is to promote the recruitment and
retention of high quality management personnel by providing an additional source
of retirement income to supplement that available to Participants from other
sources.

1.3  DEFINITIONS. For purposes of the Plan, the following words and phrases
shall have the meanings indicated, unless the context clearly indicates
otherwise.

"Bank" is Evans National Bank, Angola, New York.

"Cause" means termination of employment because of the Participant'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
infractions) or a final cease-and-desist order.

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

     (a)  Merger: The Company merges into or consolidates with another
          corporation, or merges another corporation into the Company and as a
          result less than a majority of the combined voting power of the
          resulting corporation immediately after the merger or consolidation is
          held by persons who were stockholders of the Company immediately
          before the merger or consolidation;

     (b)  Acquisition of Significant Share Ownership: a report on Schedule 13D
          or another form or schedule (other than Schedule 13G) is filed or is
          required to be filed under Sections 13(d) or 14(d) of the Securities
          Exchange Act of 1934, if the schedule discloses that the filing person
          or persons acting in concert has or have become the beneficial owner
          of 25% or more of a class of the Company's voting securities, but this
          clause (b) shall not apply to beneficial ownership of Company voting
          shares held in a fiduciary capacity by an entity of which Company
          directly or indirectly beneficially owns 50% or more of its
          outstanding voting securities;

     (c)  Change in Board Composition: during any period of two consecutive
          years, individuals who constitute the Company's Board of Directors at
          the beginning of the two-year period cease for any reason to
          constitute at least a majority of the Company's Board of Directors;
          provided, however, that for purposes of this clause (c) each director
          who is first elected by the board (or first nominated by the board for
          election by stockholders) by a vote of at least two-thirds (b) of the
          directors who were directors at the beginning of the period shall be
          deemed to have been a director at the beginning of the two-year
          period; or

     (d)  Sale of Assets: The Company sells to a third party all or
          substantially all of the Company's assets.

"Company" means Evans Bancorp, Inc., a New York corporation.

"Disability" means the Participant's suffering a sickness, accident or injury
which has been determined by the carrier of any individual or group disability
insurance policy covering the Participant, or by the Social Security
Administration, to be a disability rendering the Participant totally and
permanently disabled. The Participant must submit proof to the Bank of the
carrier's or Social Security Administration's determination at the request of
the Bank.

"Eligible Employee" means one of a select group of management and highly
compensated employees of the Bank designated by the Administrator as a
Participant in the Plan or identified in Appendix A as a Participant.

"Final Average Earnings" and "Years of Service" shall have the meanings given
them in the Evans National Bank Pension Plan (the "Pension Plan") at the time a
Participant's eligibility for benefits under this Plan or the amount of such
benefits is being determined; provided, however, that Final Average Earnings
shall be determined without regard to any limitation on the maximum dollar
amount of compensation taken into account under the pension plan pursuant to
Internal Revenue Code Section 401(a)(17) or any similar provision of law.

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"Participant" means an Eligible Employee who has been selected by the
Administrator to participate in the Plan or who is identified in Appendix A.

"Social Security Benefit" means the amount, as determined by the Administrator
in its discretion and based upon the Participant's estimated earnings history to
the date of his termination of employment with the Bank, to which a Participant
will be entitled under the old age provisions of the Social Security Act upon
attainment of the normal Social Security retirement age.

                                    ARTICLE 2
                                  ELIGIBILITY

2.1  SELECTION OF PARTICIPANTS. After the effective date, an Eligible Employee
     shall become a Participant in the Plan only upon his selection by the
     Administrator. The Administrator shall give each Participant written notice
     of the commencement of his participation in the Plan. The initial
     Participants as of the effective date are identified in Appendix A to the
     Plan.

2.2  ENTITLEMENT TO BENEFITS. Except to the extent provided in Sections 3.3, 3.4
     and 3.5, a Participant shall become entitled to receive a benefit under the
     Plan only if his employment with the Bank terminates for reasons other than
     Cause after he has attained age 65. Notwithstanding anything in this Plan
     to the contrary, no benefit shall be payable to a Participant whose
     employment is terminated for Cause.

                                    ARTICLE 3
                        SUPPLEMENTAL RETIREMENT BENEFITS

3.1  BASIC BENEFIT. Subject to the succeeding provisions of this Article, a
     Participant shall be entitled to an annual benefit equal to 70% of his
     Final Average Earnings upon the Participant's termination of employment
     (other than for Cause) at or after attaining age 65.

3.2  OTHER RETIREMENT INCOME REDUCTION.

     A.   Participant's annual benefit determined under Section 3.1 shall be
          reduced by the sum of the following amounts:

          (1)  50% of the amount of the Participant's annual Social Security
               Benefit;

          (2)  The amount of the Participant's annual benefit under the Pension
               Plan; and

          (3)  The value of the Participant's annual benefit attributable to
               employer matching contributions to the Bank's 401(k) Plan.

     B.   If any benefit described in Subsection A. is not payable as a single
          life annuity or does not commence at the same time as the
          Participant's benefit under this Plan, the Administrator shall, for
          purposes of this section, convert the value of such benefit into an
          actuarially equivalent single life annuity benefit commencing at the
          same time as the benefit under this Plan.

     C.   If the Participant would be entitled to a benefit described in
          Subsection A but for his failure to apply for such benefit, Subsection
          A will be applied as if the Participant had applied for and received
          the benefit.

     D.   Changes in a benefit described in Subsection A that occur after
          commencement of the Participant's benefit under this Plan because of
          changes in the plan or program under which the benefit is provided or
          because of cost of living adjustments will not change the amount of
          the reduction under Subsection A.

3.3  EARLY RETIREMENT BENEFIT. If a Participant's termination of employment
     occurs prior to the date the Participant attains age 65 but after attaining
     age 60, other than by reason of his death or Disability or following a
     Change in Control, the Participant shall be entitled to a benefit
     determined under Sections 3.1 and 3.2 if his age and Years of Service as of
     his termination date total at least 75; provided, however, that such
     benefit shall be reduced by 2% for each point by which the sum of the
     Participant's age and Years of Service is less than 75. Such benefit shall
     be paid in accordance with the Participant's election under Section 3.6 at
     the time specified in Section 3.7.

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3.4  DEATH AND DISABILITY BENEFITS.

     A.   If a Participant dies while employed by the Bank or terminates
          employment by reason of his Disability, there shall be paid to the
          Participant or such Participant's designated beneficiary an amount
          equal to the benefit the Participant would have received under
          Sections 3.1 and 3.2 if the Participant had retired on the date
          immediately preceding his date of death or termination of employment
          and, as of such date, was deemed to satisfy the age requirement of
          Section 3.1. Such benefit shall be paid in accordance with the
          Participant's election under Section 3.6 at the time specified in
          Section 3.7.

     B.   If a Participant dies after his entitlement to a benefit has been
          established by reason of his termination of employment but prior to
          the time that benefit payment(s) have commenced, such payment(s) shall
          be made to the Participant's beneficiary in accordance with the
          Participant's election.

     C.   Each Participant may, on a form prescribed by and filed with the
          Administrator, designate a beneficiary to receive any death benefit
          payable under this section. If no effective beneficiary designation is
          on file at the time of the Participant's death, the death benefit
          under this section shall be paid as follows:

          (1)  To the Participant's surviving spouse, or

          (2)  If no spouse survives, to the Participant's surviving children in
               equal shares, with the descendants of a child who has predeceased
               the Participant taking such child's share by representation; or

          (3)  If none of the Participant's spouse and descendants is living, to
               the representative of the Participant's estate.

     D.   The automatic beneficiaries set forth in Subsection C. and, except as
          otherwise provided in the Participant's duly filed beneficiary
          designation, the beneficiaries named in such designation, shall become
          fixed at the Participant's death so that if a beneficiary survives the
          Participant but dies before final payment of the death benefit, any
          remaining death benefits shall be paid to the representative of such
          beneficiary's estate.

3.5  CHANGE IN CONTROL BENEFIT

     If a Participant terminates employment with the Bank following a Change in
     Control (other than for Cause), there shall be paid to the Participant an
     amount equal to the benefit the Participant would have received if the
     Participant had retired on the date immediately preceding his date of
     termination of employment and, as of such date, was deemed to satisfy the
     age requirements of Section 3.1. Such benefit shall be paid in accordance
     with the Participant's election under Section 3.6 at the time specified in
     Section 3.7.

3.6  FORM OF BENEFIT.

     1.   Upon a Participant's entitlement to a benefit under this Plan, the
          Participant's benefit shall be paid in the form of (i) a single life
          annuity with 15 annual payments guaranteed or (ii) a lump sum which is
          actuarially equivalent to the annuity form of payment in (i), as
          designated by the Participant on an election form designated by the
          Bank for such purpose.

     2.   A Participant while employed by the Bank may change the form in which
          his benefits shall be paid by filing a revised election indicating
          such change at least one (1) calendar year prior to the date payments
          are to commence. Such election shall be irrevocable beginning one (1)
          calendar year prior to the date payments are to commence. No changes
          in the form of benefit payment shall be permitted following a
          Participant's termination of employment.

3.7  TIME OF PAYMENT.

     A.   Benefit payments made to a Participant or beneficiary pursuant to
          Sections 3.1 or 3.4 shall commence in accordance with the
          Participant's election not later than 60 days following the
          Participant's termination of employment.

     B.   Benefit payments made to a Participant or beneficiary pursuant to
          Sections 3.3 or 3.5 shall commence in accordance with the
          Participant's election under Section 3.6 not later than 60 days
          following the date the Participant attains age 65.

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3.8  PAYMENT IN THE EVENT OF INCAPACITY OR MINORITY. If the Administrator, in
     its discretion, determines that any person entitled to receive any payment
     under this Plan is physically, mentally or legally incapable of receiving
     or acknowledging receipt of payment, and no legal representative has been
     appointed for such person, the Administrator in its discretion may (but
     shall not be required to) cause any sum otherwise payable to such person to
     be paid to such one or more as may be chosen by the Administrator from
     among the following: the institution maintaining such person, such person's
     spouse, children, parents or other relatives by blood or marriage, a
     custodian under any applicable Uniform Transfers to Minors Act or any other
     person determined by the Administrator to have incurred expense for such
     person. The Administrator's payment based upon its good faith determination
     of the incapacity of the person otherwise entitled to payments under this
     Plan and the existence of any other person specified above shall be
     conclusive and binding on all persons. Any such payment shall be a complete
     discharge of the liabilities of the Company under this Plan to the extent
     of such payment.

                                    ARTICLE 4
                               SOURCE OF BENEFITS

4.1  EMPLOYER FUNDS. This Plan is unfunded, and all benefits payable to
     Participants and beneficiaries shall be payable solely from the general
     assets of the Bank. No Participant shall be required or permitted to make
     any contribution to the Plan.

4.2  TRUST FUND. The Bank may establish a trust from which part or all of the
     benefits under the Plan are to be paid. If a trust is established, all of
     the principal and income of such trust shall remain subject to the claims
     of the Bank's creditors until applied to the payment of benefits.

4.3  PARTICIPANT'S RIGHT TO FUNDS. This Plan constitutes a mere promise by the
     Bank to make benefit payments in the future. Beneficial ownership of any
     assets, whether cash or investments, that the Bank may earmark or place in
     trust to pay the Participants' benefits under this Plan shall at all times
     remain in the Bank, and no Participant or beneficiary shall have any
     property interest in any specific assets of the Bank. To the extent a
     Participant or any other person acquires a right to receive payments from
     the Bank under this Plan, such right shall be no greater than the right of
     any unsecured general creditor of the Bank.

                                    ARTICLE 5
                                 ADMINISTRATION

5.1  ADMINISTRATOR. The Board of Directors of the Bank shall be the
     Administrator of the Plan. The Board may delegate any of its administrative
     functions to another person, subject to revocation of such delegation at
     any time.

5.2  DISCRETION. The Administrator shall have the discretionary power and
     authority to determine the individuals who shall become Participants in the
     Plan. The Administrator shall also have the discretionary power and
     authority, which it shall exercise in good faith, to determine whether a
     Participant is entitled to a benefit under the Plan, the identity of a
     Participant's beneficiary, and the amount and form of the benefit payable
     to any Participant or beneficiary. The Administrator shall have the
     discretion and authority to interpret the Plan and to make such rules and
     regulations as it deems necessary for the administration of the Plan and to
     carry out its purposes. The determinations of the Administrator shall be
     conclusive and binding on all persons.

5.3  DETERMINATION OF BENEFIT. The Administrator's good faith determination of
     the benefits to which a Participant, surviving spouse, or beneficiary is
     entitled under this Plan shall be conclusive and binding on all persons;
     provided, however, that this provision shall not preclude the
     Administrator's correcting any error the Administrator determines to have
     been made in the computation of any benefit. The Administrator shall be
     entitled to recover from any Participant or beneficiary, or from his
     estate, the amount of any overpayment of benefits and may reduce the amount
     of future benefits payable to any Participant or beneficiary by the amount
     of any overpayment made with respect to the Participant.

                                       98

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5.4  BENEFIT CLAIM PROCEDURE. Within a reasonable period of time following a
     Participant's termination of employment, the Administrator will inform the
     Participant or the beneficiary of a deceased Participant of the amount of
     benefits, if any, payable from the Plan. Not later than 30 days after
     receipt of such notification, the Participant or beneficiary may file with
     the Administrator a written claim objecting to the amount of benefits
     payable under the Plan. The Administrator, not later than 90 days after
     receipt of such claim, will render a written decision to the claimant on
     the claim. If the claim is denied, in whole or in part, such decision will
     include the reason or reasons for the denial, a reference to the Plan
     provision that is the basis for the denial, a description of additional
     material or information, if any, necessary for the claimant to perfect the
     claim, an explanation as to why such information or material is necessary
     and an explanation of the Plan's claim procedure. The claimant may file
     with the Administrator, not later than 60 days after receiving the
     Administrator's written decision, a written notice of request for review of
     the decision, and the claimant or the claimant's representative may review
     Plan documents which relate to the claim and may submit written comments to
     the Administrator. Not later than 60 days after receipt of such review
     request, the Administrator will render a written decision on the claim,
     which decision will include the specific reasons for the decision,
     including a reference to the Plan's specific provisions where appropriate.
     The foregoing 90- and 60-day periods during which the Administrator must
     respond to the claimant may be extended by up to an additional 90 or 60
     days, respectively, if special circumstances beyond the Administrator's
     control so require.

5.5  INDEMNIFICATION. The Bank shall indemnify the Administrator and each other
     person to whom administrative functions are delegated against any and all
     liabilities that may arise out of their administration of the Plan, except
     those that are imposed on account of such person's willful misconduct.

5.6  LIMITATION OF AUTHORITY. No person performing any administrative functions
     with respect to the Plan shall exercise, or participate in the exercise of,
     any discretion with respect to his own benefit under the Plan. This
     provision shall not preclude such person from exercising discretionary
     authority with respect to the generally applicable provisions of the Plan,
     even though such person's benefit may be affected by such exercise.

                                    ARTICLE 6
                                 MISCELLANEOUS

6.1  ACTUARIAL EQUIVALENCY. Whenever an actuarial equivalent must be determined
     under this Plan, it shall be determined in the same manner, and with the
     same interest and mortality factors, as such equivalent would be determined
     under the provisions of the Pension Plan in effect at the time such
     determination is made, or, if the Pension Plan is not in effect on such
     date, using reasonable actuarial factors elected by the Administrator in a
     manner consistent with the Pension Plan provisions in effect on the Plan
     effective date.

6.2  TERMINATION OF EMPLOYMENT. A Participant shall be deemed to have terminated
     employment for purposes of this Plan when he or she has ceased to provide
     service to the Bank as an employee.

6.3  EFFECTIVE DATE. This Plan is effective as of December 29, 2003.

6.4  NO EMPLOYMENT RIGHTS. Nothing contained in this Plan shall be construed as
     conferring upon any employee the right to continue in the employ of the
     Bank.

6.5  NO COMPENSATION GUARANTEES. Nothing contained in this Plan shall be
     construed as conferring upon any employee the right to receive any specific
     level of compensation; nor shall the Bank be prevented in any way from
     modifying the manner or form in which the employee is to be compensated.

6.6  EFFECT ON BENEFIT PLANS. Neither benefits accrued by a Participant under
     this Plan nor amounts paid pursuant to the Plan following the Participant's
     termination of employment shall be deemed to be salary or other
     compensation to the Participant for the purpose of computing benefits to
     which he or she may be entitled under any pension plan or other employee
     benefit plan or arrangement sponsored by the Bank, except to the extent
     such other plan expressly provides otherwise.

6.7  RIGHTS AND BENEFITS NOT ASSIGNABLE. The rights and benefits of a
     Participant and any other person or persons to whom payments may be made
     pursuant to this Plan are personal and, except for payments made to the
     representative of a person's estate which may be assigned to the persons
     entitled to such estate, shall not be subject to any voluntary or
     involuntary anticipation, alienation, sale, assignment, pledge, transfer,
     encumbrance, attachment, garnishment by creditors of the Participant or
     such person or other disposition.

                                       99

<PAGE>

6.8  AMENDMENT AND TERMINATION.

     A.   The Board of Directors of the Bank may amend this Plan in such manner
          as it deems advisable, provided that no amendment shall reduce the
          accrued benefit of any Participant, determined as of the date of the
          adoption of such amendment.

     B.   The Bank may terminate this Plan at any time. No person shall accrue
          any additional benefits under the Plan following the date of its
          termination. However, the termination of the Plan shall not affect a
          Participant's right to receive payment of his accrued benefit
          (determined as of the date of the Plan's termination) upon termination
          of employment; provided the Participant would have been entitled to a
          benefit upon termination of employment if the Plan had not been
          terminated.

     C.   For purposes of this Section 6.8, a Participant's accrued benefit
          shall mean 10% of the benefit the Participant would be entitled to
          receive at age 65 (assuming his continued employment to such date) for
          each Year of Service after the effective date of this Plan. Such
          benefit shall be determined by projecting the Participant's Final
          Average Earnings to age 65.

6.9  GOVERNING LAW. Except to the extent preempted by federal law, this Plan
     shall be construed in accordance with, and governed by, the laws of the
     State of New York without regard to rules relating to choice of law.

6.10 ENTIRE AGREEMENT. This Plan constitutes the entire understand between the
     Bank and each Participant as to the subject matter hereof. No rights are
     granted to a Participant by virtue of this Agreement other than those
     specifically set forth herein.

                                   APPENDIX A

James Tilley
William R. Glass
Robert Miller, Jr.

                                      100

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