Document:

Exhibit 10.8

Two River Community Bank
Supplemental Executive Retirement Agreement
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                            TWO RIVER COMMUNITY BANK
                   SUPPLEMENTAL EXECUTIVE RETIREMENT AGREEMENT

      THIS  SUPPLEMENTAL  EXECUTIVE  RETIREMENT  AGREEMENT (the  "Agreement") is
adopted this 1st day of January,  2005, by and between TWO RIVER COMMUNITY BANK,
a New  Jersey-chartered  commercial  bank  located  in  Middletown,  New  Jersey
("Bank") and ALAN TURNER (the "Executive").  The purpose of this Agreement is to
provide  specified  benefits  to the  Executive,  a member of a select  group of
management  or highly  compensated  employees who  contribute  materially to the
continued  growth,  development,  and future business  success of the Bank. This
Agreement  shall be unfunded for tax purposes and for purposes of Title I of the
Employee Retirement Income Security Act of 1974 ("ERISA"),  as amended from time
to time.

                                    Article I
                                   Definitions

      Whenever used in this  Agreement,  the  following  words and phrases shall
have the meanings specified:

1.1   "Beneficiary"  means each designated person, or the estate of the deceased
      Executive,  entitled to benefits,  if any, upon the death of the Executive
      determined pursuant to Article 4.

1.2   "Beneficiary  Designation  Form" means the form  established  from time to
      time by the Plan  Administrator that the Executive  completes,  signs, and
      returns to the Plan Administrator to designate one or more Beneficiaries.

1.3   "Board"  means  the  Board of  Directors  of the Bank as from time to time
      constituted.

1.4   "Change in Control"  means a change in the ownership or effective  control
      of the Bank, or in the ownership of a substantial portion of the assets of
      the  Bank,  as such  change is  defined  in  Section  409A of the Code and
      regulations thereunder.

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

1.6   "Disability"  means  Executive (i) is unable to engage in any  substantial
      gainful  activity  by reason of any  medically  determinable  physical  or
      mental  impairment  which  can be  expected  to  result in death or can be
      expected to last for a  continuous  period of not less than 12 months,  or
      (ii) is,  by  reason  of any  medically  determinable  physical  or mental
      impairment  which can be expected to result in death or can be expected to
      last for a continuous period of not less than 12 months,  receiving income
      replacement  benefits  for a  period  of not less  than 3 months  under an
      accident and health plan covering  employees of the Executive's  employer.
      Medical  determination  of  Disability  may be made by either  the  Social
      Security  Administration  or by the provider of an accident or health plan
      covering

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Two River Community Bank
Supplemental Executive Retirement Agreement
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      employees  of the  Executive's  employer.  Upon  the  request  of the Plan
      Administrator,  the Executive must submit proof to the Plan  Administrator
      of Social Security Administration's or the provider's determination.

1.7   "Early Termination" means Separation from Service before Normal Retirement
      Age for reasons other than death,  Disability,  Termination  for Cause, or
      following a Change in Control.

1.8   "Effective Date" means November 1, 2004.

1.9   "Normal Retirement Age" means the Executive attaining age sixty-five (65).

1.10  "Plan Administrator" means the plan administrator described in Article 6.

1.11  "Plan Year" means each  twelve-month  period  commencing  on January 1 and
      ending on December 31 of each year.  The initial Plan Year shall  commence
      on the Effective Date of this Agreement and end on the following  December
      31, 2005.

1.12  "Schedule A" means the schedule attached to this Agreement and made a part
      hereof.  Schedule A shall be updated  upon a change in any of the benefits
      under Articles 2 or 3.

1.13  "Separation  from  Service"  means  that the  Executive's  service,  as an
      employee  and  independent  contractor,  to the Bank and any  member  of a
      controlled  group as defined in Section  414 of the Code to which the Bank
      belongs, has terminated for any reason, other than by reason of a leave of
      absence approved by the Bank or the death of the Executive.

1.14  "Termination for Cause" has that meaning set forth in Article 5.

                                    Article 2
                          Distributions During Lifetime

2.1   Normal Retirement  Benefit. If the Executive has a Separation from Service
      on or after  Normal  Retirement  Age,  the Bank  shall  distribute  to the
      Executive  the benefit  described in this Section 2.1 in lieu of any other
      benefit under this Article.

      2.1.1 Amount of  Benefit.  The annual  benefit  under this  Section 2.1 is
            Fifty Thousand Dollars ($50,000).

      2.1.2 Distribution  of  Benefit.  The Bank  shall  distribute  the  annual
            benefit to the Executive in twelve (12) equal  monthly  installments
            commencing on the first day of the month  following the  Executive's
            65  birthday.  The  annual  benefit  shall  be  distributed  to  the
            Executive for fifteen (15) years.

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Two River Community Bank
Supplemental Executive Retirement Agreement
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2.2   Early Termination  Benefit.  Upon the Executive's Early  Termination,  the
      Bank shall  distribute  to the  Executive  the benefit  described  in this
      Section 2.2 in lieu of any other benefit under this Article.

      2.2.1 Amount of Benefit.  The annual benefit under this Section 2.2 is the
            Early Termination  benefit set forth on Schedule A for the Plan Year
            that ended  immediately  prior to the date on which  Separation from
            Service occurs.

      2.2.2 Distribution  of  Benefit.  The Bank  shall  distribute  the  annual
            benefit to the Executive in twelve (12) equal  monthly  installments
            commencing  within  thirty  (30)  days  following   Separation  from
            Service.  The annual  benefit shall be  distributed to the Executive
            for fifteen (15) years.

2.3   Disability  Benefit.  If the Executive's  Disability results in Separation
      from Service prior to Normal  Retirement Age, the Bank shall distribute to
      the  Executive  the benefit  described  in this Section 2.3 in lieu of any
      other benefit under this Article

      2.3.1 Amount of Benefit.  The annual benefit under this Section 2.3 is the
            Disability  benefit  set forth on  Schedule A for the Plan Year that
            ended immediately prior to the date on which Separation from Service
            due to Disability occurs.

      2.3.2 Distribution  of  Benefit.  The Bank  shall  distribute  the  annual
            benefit to the Executive in twelve (12) equal  monthly  installments
            commencing  within thirty (30) days following Normal Retirement Age.
            The annual benefit shall be distributed to the Executive for fifteen
            (15) years.

2.4   Change in Control Benefit. If the Executive is a full time employee at the
      date a  Change  in  Control  occurs,  the  Bank  shall  distribute  to the
      Executive  the benefit  described in this Section 2.4 in lieu of any other
      benefit under this Article.

      2.4.1 Amount of Benefit The annual  benefit  under this Section 2.4 is the
            Change in Control  benefit set forth on Schedule A for the Plan Year
            that ended  immediately  prior to the date on which  Separation from
            Service occurs.

      2.4.2 Distribution  of  Benefit.  The Bank  shall  distribute  the  annual
            benefit to the Executive in twelve (12) equal  monthly  installments
            commencing  within  thirty  (30)  days  following   Separation  from
            Service.  The annual  benefit shall be  distributed to the Executive
            for fifteen (15) years.

      2.4.3 Parachute Payments.  Notwithstanding any provision of this Agreement
            to the contrary,  to the extent any distribution(s),  if made, under
            this Section 2.4 would be treated as an "excess  parachute  payment"
            under  Section 280G of the Code,  the Bank shall reduce or delay the
            distribution(s)  to the  extent it would not be an excess  parachute
            payment.

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Two River Community Bank
Supplemental Executive Retirement Agreement
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2.5   Restriction on Timing of  Distribution.  Notwithstanding  any provision of
      this  Agreement  to  the  contrary,  if  the  Executive  is  considered  a
      "specified  employee"  under  Section  409A of the  Code  and  regulations
      thereunder,  benefit  distributions  that  qualify as a  "separation  from
      service" under Section 409A of the Code and regulations thereunder may not
      commence  earlier  than six (6) months  after the date of such  separation
      from service.

                                    Article 3
                              Distribution at Death

3.1   Death During Active  Service.  If the  Executive  dies while in the active
      service to the Bank,  the Bank shall  distribute  to the  Beneficiary  the
      benefit  described in this Section 3.1. This benefit shall be  distributed
      in lieu of the benefits under Article 2.

      3.1.1 Amount of Benefit.  The benefit  under this Section 3.1 is the death
            benefit  set  forth on  Schedule  A for the  Plan  Year  that  ended
            immediately prior to the Executive's date of death.

      3.1.2 Distribution  of Benefit.  The Bank shall  distribute the benefit to
            the  Beneficiary  in a lump sum within  ninety  (90) days  following
            receipt by the Bank of the Executive's death certificate.

3.2   Death During  Distribution  of a Benefit.  If the Executive dies after any
      benefit  distributions  have  commenced  under this  Agreement  but before
      receiving  all  such  distributions,  the  Bank  shall  distribute  to the
      Beneficiary  the  remaining  benefits  at the  same  time  and in the same
      amounts  they  would  have  been  distributed  to the  Executive  had  the
      Executive survived.

3.3   Death  After  Separation  from  Service But Before  Benefit  Distributions
      Commence. If the Executive is entitled to benefit distributions under this
      Agreement,   but  dies  prior  to  the   commencement   of  said   benefit
      distributions,  the Bank  shall  distribute  to the  Beneficiary  the same
      benefits that the Executive was entitled to prior to death except that the
      benefit  distributions  shall  commence  within thirty (30) days following
      receipt by the Bank of the Executive's death certificate.

                                    Article 4
                                  Beneficiaries

4.1   Beneficiary. The Executive shall have the right, at any time, to designate
      a  Beneficiary(ies)  to  receive  any  benefit  distributions  under  this
      Agreement  to  a  Beneficiary  upon  the  death  of  the  Executive.   The
      Beneficiary  designated  under  this  Agreement  may  be  the  same  as or
      different  from the  beneficiary  designation  under any other plan of the
      Bank in which the Executive participates.

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Two River Community Bank
Supplemental Executive Retirement Agreement
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4.2   Beneficiary   Designation:   Change.   The  Executive  shall  designate  a
      Beneficiary by completing and signing the  Beneficiary  Designation  Form,
      and delivering it to the Plan  Administrator or its designated  agent. The
      Executive's  beneficiary designation shall be deemed automatically revoked
      if the  Beneficiary  predeceases the Executive or if the Executive names a
      spouse as  Beneficiary  and the marriage is  subsequently  dissolved.  The
      Executive  shall  have the right to change a  Beneficiary  by  completing,
      signing  and  otherwise  complying  with  the  terms  of  the  Beneficiary
      Designation Form and the Plan Administrator's rules and procedures,  as in
      effect from time to time. Upon the acceptance by the Plan Administrator of
      a  new  Beneficiary   Designation   Form,  all  Beneficiary   designations
      previously  filed  shall be  cancelled.  The Plan  Administrator  shall be
      entitled  to rely on the last  Beneficiary  Designation  Form filed by the
      Executive and accepted by the Plan Administrator  prior to the Executive's
      death.

4.3   Acknowledgment.  No  designation or change in designation of a Beneficiary
      shall be effective until received, accepted and acknowledged in writing by
      the Plan Administrator or its designated agent.

4.4   No  Beneficiary  Designation.  If  the  Executive  dies  without  a  valid
      beneficiary designation, or if all designated Beneficiaries predecease the
      Executive,   then  die   Executive's   spouse  shall  be  the   designated
      Beneficiary.  If the Executive has no surviving spouse, the benefits shall
      be made to the personal representative of the Executive's estate.

4.5.  Facility of  Distribution.  If the Plan  Administrator  determines  in its
      discretion  that a benefit is to be  distributed  to a minor,  to a person
      declared incompetent, or to a person incapable of handling the disposition
      of that person's property,  the Plan Administrator may direct distribution
      of such benefit to the guardian, legal representative or person having the
      care or custody of such minor, incompetent person or incapable person. The
      Plan  Administrator  may  require  proof  of  incompetence,   minority  or
      guardianship  as it may  deem  appropriate  prior to  distribution  of the
      benefit.  Any  distribution  of a benefit shall be a distribution  for the
      account of the Executive and the Executive's Beneficiary,  as the case may
      be, and shall be a complete discharge of any liability under the Agreement
      for such distribution amount.

                                    Article 5
                               General Limitations

5.1   Termination for Cause.  Notwithstanding any provision of this Agreement to
      the  contrary,  the Bank  shall not  distribute  any  benefit  under  this
      Agreement if Executive's service is terminated by the Board for:

      (a)   Gross negligence or gross neglect of duties to the Bank; or

      (b)   Conviction  of a felony or of a gross  misdemeanor  involving  moral
            turpitude in connection with the Executive's  service with the Bank;
            or

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Two River Community Bank
Supplemental Executive Retirement Agreement
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      (c)   Fraud,  disloyalty,  dishonesty  or willful  violation of any law or
            significant Bank policy committed in connection with the Executive's
            service and resulting in a material adverse effect on the Bank.

5.2   Suicide or Misstatement. No benefits shall be distributed if the Executive
      commits  suicide  within  two  years  after  the  Effective  Date  of this
      Agreement, or if an insurance company which issued a life insurance policy
      covering  the  Executive  and owned by the Bank  denies  coverage  (i) for
      material misstatements of fact made by the Executive on an application for
      such life insurance, or (ii) for any other reason; provided,  however that
      the Bank shall  evaluate  the reason for the  denial,  and upon  advice of
      legal counsel and in its sole discretion,  consider judicially challenging
      any denial.

5.3   Removal.  Notwithstanding any provision of this Agreement to the contrary,
      the Bank shall not  distribute  any benefit  under this  Agreement  if the
      Executive is subject to a final removal or prohibition  order issued by an
      appropriate federal banking agency pursuant to Section 8(e) of the Federal
      Deposit Insurance Act ("FDIA").

5.4   Non-compete  Provision.  The Executive  shall forfeit any  non-distributed
      benefits under this Agreement if during the term of this Agreement and for
      within  twenty-four (24) months  following a Separation from Service,  the
      Executive,  directly  or  indirectly,  either  as  an  individual  or as a
      proprietor,  stockholder,  partner,  officer,  director,  employee, agent,
      consultant  or  independent  contractor  of any  individual,  partnership,
      corporation  or other entity  (excluding  an  ownership  interest of three
      percent (3 %) or less in the stock of a publicly-traded company):

            (i)   becomes employed by,  participates in, or becomes connected in
                  any  manner  with  the  ownership,  management,  operation  or
                  control  of any  bank,  savings  and  loan  or  other  similar
                  financial institution if the Executive's responsibilities will
                  include providing  banking or other financial  services within
                  the  twenty-five  (25) miles of any office  maintained  by the
                  Bank  as of  the  date  of  the  Executive's  Separation  from
                  Service;

            (ii)  participates  in any way in hiring or otherwise  engaging,  or
                  assisting  any other  person or entity in hiring or  otherwise
                  engaging,  on a temporary,  part-time or permanent  basis, any
                  individual  who was in the  service of the Bank as of the date
                  of the Executive's Separation from Service;

            (iii) assists, advises, or serves in any capacity, representative or
                  otherwise,  any third party in any action  against the Bank or
                  transaction involving the Bank;

            (iv)  sells,  offers to sell,  provides  banking or other  financial
                  services,  assists  any other  person in selling or  providing
                  banking or other

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Two River Community Bank
Supplemental Executive Retirement Agreement
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                  financial  services,  or solicits or otherwise  competes  for,
                  either  directly  or  indirectly,  any  orders,  contract,  or
                  accounts   for   services   of  a  kind  or  nature   like  or
                  substantially  similar to the financial  services performed or
                  financial products sold by the Bank (the preceding hereinafter
                  referred  to as  "Services"),  to or from any person or entity
                  from whom the  Executive or the Bank,  to the knowledge of the
                  Executive provided banking or other financial services,  sold,
                  offered to sell or solicited orders, contracts or accounts for
                  Services during the three (3) year period immediately prior to
                  the Executive's Separation from Service;

            (v)   divulges,  discloses,  or communicates to others in any manner
                  whatsoever,  any confidential  information of the Bank, to the
                  knowledge of the Executive, including, but not limited to, the
                  names and addresses of customers or prospective customers,  of
                  the Bank,  as they may have existed from time to time, of work
                  performed or services  rendered for any  customer,  any method
                  and/or procedures relating to projects or other work developed
                  for the Bank,  earnings or other  information  concerning  the
                  Bank.  The  restrictions  contained in this  subparagraph  (v)
                  apply to all information regarding the Bank, regardless of the
                  source   who   provided   or   compiled   such    information.
                  Notwithstanding  anything  to the  contrary,  all  information
                  referred to herein shall not be disclosed  unless and until it
                  becomes  known to the general  public from sources  other than
                  the Executive.

      5.4.1 Judicial Remedies.  In the event of a breach or threatened breach by
            the Executive of any provision of these restrictions,  the Executive
            recognizes  the  substantial  and  immediate  harm  that a breach or
            threatened breach will impose upon the Bank, and further  recognizes
            that in such  event  monetary  damages  may be  inadequate  to fully
            protect  the  Bank.  Accordingly,  in  the  event  of  a  breach  or
            threatened breach of these  restrictions,  the Executive consents to
            the Bank's entitlement to such ex parte preliminary,  interlocutory,
            temporary or permanent  injunctive,  or any other equitable  relief,
            protecting  and fully  enforcing  the Bank's  rights  hereunder  and
            preventing  the  Executive   from  further   breaching  any  of  his
            obligations  set forth herein.  Nothing herein shall be construed as
            prohibiting  the Bank from pursuing any other remedies  available to
            the Bank at law or in equity for such breach or  threatened  breach,
            including the recovery of damages from the Executive.  The Executive
            expressly  acknowledges  and agrees that: (i) the  restrictions  set
            forth in  Section  5.4  hereof  are  reasonable,  in terms of scope,
            duration,  geographic  area,  and  otherwise,  (ii) the  protections
            afforded the Bank in Section 5.4 hereof are necessary to protect its
            legitimate  business  interest,  (iii) the restrictions set forth in
            Section 5.4 hereof will not be materially adverse to the Executive's
            service  with the  Bank,  and (iv) his  agreement  to  observe  such
            restrictions  forms a material  part of the  consideration  for this
            Agreement

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Two River Community Bank
Supplemental Executive Retirement Agreement
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      5.4.2 Overbreadth  of  Restrictive  Covenant.  It is the  intention of the
            parties  that  if any  restrictive  covenant  in this  Agreement  is
            determined by a court of competent  jurisdiction to be overly broad,
            then the court  should  enforce  such  restrictive  covenant  to the
            maximum  extent  permitted  under  the law as to area,  breadth  and
            duration.

      5.4.3 Change in Control. The non-compete provision detailed in Section 5.4
            hereof shall not be enforceable following a Change in Control.

                                    Article 6
                           Administration of Agreement

6.1   Plan Administrator  Duties. This Agreement shall be administered by a Plan
      Administrator  which  shall  consist of the Board,  or such  committee  or
      person(s) as the Board shall appoint.  The Plan  Administrator  shall also
      have the  discretion  and  authority  to (i) make,  amend,  interpret  and
      enforce all appropriate  rules and regulations for the  administration  of
      this Agreement and (ii) decide or resolve any and all questions  including
      interpretations  of this  Agreement,  as may arise in connection  with the
      Agreement

6.2   Agents. In the  administration of this Agreement,  the Plan  Administrator
      may employ  agents and delegate to them such  administrative  duties as it
      sees fit, (including acting through a duly appointed representative),  and
      may from time to time consult with counsel who may be counsel to the Bank.

6.3   Binding  Effect  of  Decisions.   The  decision  or  action  of  the  Plan
      Administrator with respect to any question arising out of or in connection
      with the  administration,  interpretation and application of the Agreement
      and the rules and  regulations  promulgated  hereunder  shall be final and
      conclusive  and  binding  upon all  persons  having  any  interest  in the
      Agreement.

6.4   Indemnity  of Plan  Administrator.  The  Bank  shall  indemnify  and  hold
      harmless the members of the Plan Administrator against any and all claims,
      losses,  damages,  expenses  or  liabilities  arising  from any  action or
      failure  to act with  respect  to this  Agreement,  except  in the case of
      willful misconduct by the Plan Administrator or any of its members.

6.5   Bank  Information.  To  enable  the  Plan  Administrator  to  perform  its
      functions,  the Bank shall supply full and timely  information to the Plan
      Administrator on all matters relating to the date and circumstances of the
      retirement,   Disability,   death,  or  Separation  from  Service  of  the
      Executive,  and such other pertinent information as the Plan Administrator
      may reasonably require.

6.6   Annual Statement.  The Plan Administrator  shall provide to the Executive,
      within one hundred  twenty  (120) days after the end of each Plan Year,  a
      statement  setting  forth  the  benefits  to  be  distributed  under  this
      Agreement.

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Two River Community Bank
Supplemental Executive Retirement Agreement
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                                    Article 7
                           Claim and Review Procedures

7.1   Claims  Procedure.  An Executive or Beneficiary  ("claimant")  who has not
      received  benefits under the Agreement  that he or she believes  should be
      distributed shall make a claim for such benefits as follows:

      7.1.1 Initiation  -  Written  Claim.  The  claimant  initiates  a claim by
            submitting  to the  Plan  Administrator  a  written  claim  for  the
            benefits.

      7.1.2 Timing of Plan Administrator  Response. The Plan Administrator shall
            respond to such claimant  within 90 days after  receiving the claim,
            if the Plan  Administrator  determines  that  special  circumstances
            require   additional  time  for  processing  the  claim,   the  Plan
            Administrator  can extend the response  period by an  additional  90
            days by notifying  the claimant in writing,  prior to the end of the
            initial 90-day period,  that an additional  period is required.  The
            notice of extension must set forth the special circumstances and the
            date  by  which  (the  Plan  Administrator  expects  to  render  its
            decision.

      7.1.3 Notice of Decision.  If the Plan Administrator denies part or all of
            the claim,  the Plan  Administrator  shall  notify the  claimant  in
            writing  of such  denial.  The Plan  Administrator  shall  write the
            notification  in  a  manner  calculated  to  be  understood  by  the
            claimant. The notification shall set forth:

            (a)   The specific reasons for the denial;

            (b)   A reference to the  specific  provisions  of the  Agreement on
                  which the denial is based;

            (c)   A  description  of  any  additional  information  or  material
                  necessary  for  the  claimant  to  perfect  the  claim  and an
                  explanation of why it is needed;

            (d)   An explanation of the  Agreement's  review  procedures and the
                  time limits applicable to such procedures; and

            (e)   A statement  of the  claimant's  right to bring a civil action
                  under  ERISA  Section  502(a)  following  an  adverse  benefit
                  determination on review.

7.2   Review  Procedure.  If the Plan  Administrator  denies  part or all of the
      claim,  the claimant shall have the opportunity for a full and fair review
      by the Plan Administrator of the denial, as follows:

      7.2.1 Initiation - Written Request.  To initiate the review, the claimant,
            within 60 days after  receiving the Plan  Administrator's  notice of
            denial,  must file with the Plan Administrator a written request for
            review.

      7.2.2 Additional Submissions - Information Access. The claimant shall then
            have the opportunity to submit written comments,  documents, records
            and other

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Two River Community Bank
Supplemental Executive Retirement Agreement
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            information relating to the claim. The Plan Administrator shall also
            provide the  claimant,  upon request and free of charge,  reasonable
            access  to,  and  copies  of,  all  documents,   records  and  other
            information relevant (as defined in applicable ERISA regulations) to
            the claimant's claim for benefits.

      7.2.3 Considerations  on  Review.  In  considering  the  review,  the Plan
            Administrator  shall take into account all materials and information
            the  claimant  submits  relating  to the  claim,  without  regard to
            whether such  information was submitted or considered in the initial
            benefit determination.

      7.2.4 Timing of Plan Administrator  Response. The Plan Administrator shall
            respond in writing to such claimant  within 60 days after  receiving
            the request for review.  If the Plan  Administrator  determines that
            special  circumstances  require  additional  time for processing the
            claim, the Plan  Administrator  can extend the response period by an
            additional  60 days by notifying  the claimant in writing,  prior to
            the end of the initial 60-day period,  that an additional  period is
            required.  The  notice  of  extension  must set  forth  the  special
            circumstances and the date by which the Plan  Administrator  expects
            to render its decision.

      7.2.5 Notice of Decision. The Plan Administrator shall notify the claimant
            in writing of its decision on review. The Plan  Administrator  shall
            write the  notification  in a manner  calculated to be understood by
            the claimant. The notification shall set forth:

            (a)   The specific reasons for the denial;

            (b)   A reference to the  specific  provisions  of the  Agreement on
                  which the denial is based;

            (c)   A statement  that the  claimant  is entitled to receive,  upon
                  request and free of charge,  reasonable  access to, and copies
                  of, all documents,  records and other information relevant (as
                  defined in applicable  ERISA  regulations)  to the  claimant's
                  claim for benefits; and

            (d)   A statement  of the  claimant's  right to bring a civil action
                  under ERISA Section 502(a).

                                    Article 8
                           Amendments and Termination

8.1   Amendment.  This  Agreement  may be  amended  only by a written  agreement
      signed by the Bank and the Executive. Provided, however, that the Bank may
      amend this Agreement to conform with  legislative  requirements or written
      directives to the Bank from its banking regulators.

8.2   Termination.  This Agreement may be terminated only by a written agreement
      signed  by  the  Bank  and  the  Executive.  Upon  such  termination,  the
      applicable benefits under this Agreement shall be paid to the Executive in
      the form and at the

<PAGE>

Two River Community Bank
Supplemental Executive Retirement Agreement
--------------------------------------------------------------------------------

      earliest  possible time as specified in this Agreement and permitted under
      Section 409A of the Code and any applicable subsequent authority.

                                    Article 9
                                  Miscellaneous

9.1   Binding Effect.  This Agreement shall bind the Executive and the Bank, and
      their beneficiaries, survivors, executors, administrators and transferees.

9.2   No  Guarantee  of  Employment.  This  Agreement  is  not  a  contract  for
      employment.  It does not give the  Executive  the  right to  remain  as an
      employee  of the Bank,  nor does it  interfere  with the  Bank's  right to
      discharge the Executive.  It also does not require the Executive to remain
      an employee  nor  interfere  with the  Executives  right to separate  from
      service at any time.

9.3   Non-Transferability.   Benefits  under  this  Agreement  cannot  be  sold,
      transferred, assigned, pledged, attached or encumbered in any manner.

9.4   Tax Withholding. The Bank shall withhold any taxes that arc required to be
      withheld, under Section 409A of the Code and regulations thereunder,  from
      the benefits  provided under this  Agreement.  The Executive  acknowledges
      that the Bank's sole liability  regarding  taxes is to forward any amounts
      withheld to the appropriate taxing authority(ies).

9.5   Applicable  Law. The Agreement and all rights  hereunder shall be governed
      by the laws of the State of New Jersey,  except to the extent preempted by
      the laws of the United States of America.

9.6   Unfunded Arrangement.  The Executive and Beneficiary are general unsecured
      creditors  of the  Bank  for  the  distribution  of  benefits  under  this
      Agreement.  The  benefits  represent  the  mere  promise  by the  Bank  to
      distribute  such  benefits.  The rights to benefits are not subject in any
      manner to anticipation,  alienation, sale, transfer,  assignment,  pledge,
      encumbrance, attachment, or garnishment by creditors. Any insurance on the
      Executive's life or other informal funding asset is a general asset of the
      Bank to which the Executive and  Beneficiary  have no preferred or secured
      claim.

9.7   Reorganization.  The Bank  shall  not  merge or  consolidate  into or with
      another bank, or reorganize,  or sell  substantially  all of its assets to
      another bank,  firm, or person unless such succeeding or continuing  bank,
      firm, or person agrees to assume and discharge the obligations of the Bank
      under this Agreement.  Upon the occurrence of such event,  the term "Bank"
      as used in this  Agreement  shall be deemed to refer to the  successor  or
      survivor bank.

9.8   Entire Agreement.  This Agreement constitutes the entire agreement between
      the Bank and the Executive as to the subject matter hereof.  No rights are
      granted  to the  Executive  by virtue of this  Agreement  other than those
      specifically set forth herein.

<PAGE>

Two River Community Bank
Supplemental Executive Retirement Agreement
--------------------------------------------------------------------------------

9.9   Notice. Any notice or filing required or permitted to be given to the Bank
      or Plan  Administrator  under this  Agreement  shall be  sufficient  if in
      writing and  hand-delivered,  or sent by registered or certified  mail, to
      the address below:

                          ----------------------------
                          Two River Community Bank
                          ----------------------------
                          Attn: H.R. Department
                          ----------------------------
                          1250 Highway 35 South
                          ----------------------------
                          Middletown, New Jersey 07748
                          ----------------------------

      Such  notice  shall be  deemed  given as of the date of  delivery  or,  if
      delivery  is made by mail,  as of the date  shown on the  postmark  on the
      receipt for registration or certification.

      Any notice or filing  required or permitted  to be given to the  Executive
      under this Agreement shall be sufficient if in writing and hand-delivered,
      or sent by mail, to the last known address of the Executive.

      IN WITNESS WHEREOF, the Executive and a duly authorized  representative of
the Bank have signed this Agreement.

EXECUTIVE:                              BANK:
                                        TWO RIVER COMMUNITY BANK

/s/ Alan B. Turner                      By: /s/ Charles T. Parton
--------------------------------            ------------------------------
Alan Turner
                                        Title: Chairman, Board of Directors
                                               ----------------------------

<PAGE>

                                   SCHEDULE A
                            TWO RIVER COMMUNITY BANK
                SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN AGREEMENT

                                   Alan Turner

<TABLE>
<CAPTION>
      -------------------------------------------------------------------------------
                                                                              Pre-
                                   Early                     Change in     Retirement
                                Termination                   Control       Lump Sum
                                   Annual     Disability      Annual          Death
         Date           Age     Benefit (1)   Benefit (2)   Benefit (1)      Benefit
      -------------------------------------------------------------------------------
<S>                      <C>      <C>           <C>           <C>           <C>
      12/31/2005         42       $ 1,065       $ 4,605       $20,621       $198,332
      -------------------------------------------------------------------------------
      12/31/2006         43       $ 2,044       $ 8,283       $21,445       $206,266
      -------------------------------------------------------------------------------
      12/31/2007         44       $ 3,089       $11,731       $22,303       $214,516
      -------------------------------------------------------------------------------
      12/31/2008         45       $ 4,204       $14,963       $23,195       $223,097
      -------------------------------------------------------------------------------
      12/31/2009         46       $ 5,394       $17,992       $24,123       $232,021
      -------------------------------------------------------------------------------
      12/31/2010         47       $ 6,663       $20,830       $25,088       $241,302
      -------------------------------------------------------------------------------
      12/31/2011         48       $ 8,017       $23,491       $26,092       $250,954
      -------------------------------------------------------------------------------
      12/31/2012         49       $ 9,462       $25,984       $27,135       $260,992
      -------------------------------------------------------------------------------
      12/31/2013         50       $11,004       $28,321       $28,221       $271,432
      -------------------------------------------------------------------------------
      12/31/2014         51       $12,649       $30,511       $29,349       $282,289
      -------------------------------------------------------------------------------
      12/31/2015         52       $14,404       $32,564       $30,523       $293,580
      -------------------------------------------------------------------------------
      12/31/2016         53       $16,277       $34,488       $31,744       $305,324
      -------------------------------------------------------------------------------
      12/31/2017         54       $18,275       $36,291       $33,014       $317,536
      -------------------------------------------------------------------------------
      12/31/2018         55       $20,407       $37,981       $34,335       $330,238
      -------------------------------------------------------------------------------
      12/31/2019         56       $22,681       $39,565       $35,708       $343,447
      -------------------------------------------------------------------------------
      12/31/2020         57       $25,108       $41,050       $37,136       $357,185
      -------------------------------------------------------------------------------
      12/31/2021         58       $27,698       $42,441       $38,622       $371,473
      -------------------------------------------------------------------------------
      12/31/2022         59       $30,461       $43,745       $40,167       $386,332
      -------------------------------------------------------------------------------
      12/31/2023         60       $33,409       $44,967       $41,773       $401,785
      -------------------------------------------------------------------------------
      12/31/2024         61       $36,554       $46,112       $43,444       $417,856
      -------------------------------------------------------------------------------
      12/31/2025         62       $39,910       $47,186       $45,182       $434,571
      -------------------------------------------------------------------------------
      12/31/2026         63       $43,491       $48,192       $46,989       $451,953
      -------------------------------------------------------------------------------
      12/31/2027         64       $47,312       $49,135       $48,869       $470,032
      -------------------------------------------------------------------------------
      8/29/2028(3)       65       $50,000       $50,000       $50,000       $480,909
      -------------------------------------------------------------------------------
</TABLE>

(1)   Payments are made in 180 equal monthly  installments  commencing within 30
      days  following  Separation  from Service.  Refer to Section 2.2 for Early
      Termination and Section 2.4 for Change in Control.

(2)   Payments are made in 180 equal monthly  installments  commencing at Normal
      Retirement Age. Refer to Section 2.3 for Disability.

(3)   This is the date when the Executive reaches Normal Retirement Age.Exhibit 10.9

            TWO RIVER COMMUNITY BANK 2003 INCENTIVE STOCK OPTION PLAN

SECTION 1. General Purpose of Plan
           -----------------------

      The name of this plan is the Two River Community Bank 2003 Incentive Stock
Option Plan (the "Plan"). The purpose of the Plan is to enable Two River
Community Bank (the "Bank") to continue to attract, retain and motivate
employees who contribute, or who are expected to contribute, to the ongoing
success of the Bank by their skill, experience, ability, diligence and industry,
and to provide such individuals with the meaningful opportunity to participate
in the long-term success and growth of the Bank by giving them a proprietary
interest in the Bank. The Plan is intended to qualify as an incentive stock
option plan within the meaning of Section 422 of the Internal Revenue Code (the
"Code"), and all of its terms shall be interpreted in a manner which is entirely
consistent with that intention and the applicable provisions of the Code and the
Treasury Regulations.

SECTION 2. Definitions
           -----------

      As used in this Plan, the following terms have the meanings set forth
below. The singular includes the plural, the masculine gender includes the
feminine gender, and vice versa, as the context may require. The word "person"
includes any natural person and any corporation, firm, partnership, or other
form of association.

"Board" means the Board of Directors of the Bank.

"Change of Control" means any of the following:

(i) The acquisition of nominal or beneficial ownership of at least twenty five
percent (25%) of the Stock, or all or substantially all of the assets of the
Bank, by a single person, a single entity or a group of persons or entities
acting in concert, in a single transaction or a series of transactions

<PAGE>

the intention or effect of which is to culminate in an acquisition of Stock or
assets which comes within the description of this sentence;

(ii) The merger, consolidation or combination of the Bank with an unaffiliated
corporation in which the Directors immediately prior to such transaction
constitute less than a majority of the board of directors of the surviving new
or combined entity in such transaction;

(iii) The transfer of all or substantially all of the Bank's assets to an
unaffiliated corporation;

(iv) The election to the Board during any consecutive three-year period of a
group of individuals constituting a majority of the Board who were not serving
as directors immediately prior to such consecutive three-year period; provided
that any new director whose election was approved by a majority of the Board
prior to his or her election shall be disregarded for this purpose.

"Code" means the Internal Revenue Code of 1986, as it may be amended from lime
to time.

"Committee" means the Compensation Committee of the Board, to which the Board
has expressly delegated the authority to administer the Plan.

"Common Stock" means the common stock, $5.00 par value, of the Bank.

"Disability" means the permanent disability of a Participant or the continuous
failure of a Participant to perform substantially all of the services to the
Bank performed by the Participant prior to such failure for a period of six
months commencing with the first date of such failure, for reasons other than
termination as an Employee of the Bank, death, or approved retirement.

"Employee" means any officer or other common law employee of the Bank, with such
term being defined as broadly as possible in, but only in, that manner which is
consistent with Section 422 of the Code.

"Fair Market Value" has the meaning which is set forth in Section 8.12.

                                       2
<PAGE>

"Grant Date" means the date on which an Option is awarded to an eligible
Participant under this Plan, notwithstanding any initial prohibition against
exercise.

"Incentive Stock Option" or "Option" means a stock option granted under this
Plan, which is intended to qualify in every respect as an incentive stock option
under Section 422 of the Code.

"Misconduct" means the willful and continued failure by the Participant to
perform the Participant's duties for the Bank after a warning in writing from
the Committee specifically identifying any such failure; the willful
participation by the Participant in an act which causes material injury to the
Bank, as specified in a written notice from the Committee; conviction of a
felony or other crime (other than a traffic violation); or excessive absenteeism
(other than for illness), after a warning in writing from the Committee. No act
or failure to act on the part of a Participant shall be considered to be willful
unless done, or omitted to be done, without good faith and without the
reasonable belief that the action or omission was in the best interest of the
Bank.

"Participant" means an Employee to whom an Option has been awarded under the
Plan.

"Qualified Person" means a living Participant's legal guardian or legal
representative, or a deceased Participant's legal representative, heir or
legatee, as the case may be, who has a legal right to or in respect of an Option
held by that Participant.

"Share" means a share of Common Stock.

"Stated Expiration Date" means the date set forth in the Incentive Stock Option
agreement on which the related Incentive Stock Option expires, absent the
Participant's termination of service to the Bank.

                                       3
<PAGE>

SECTION 3. Administration
           --------------

3.01 The Committee. The Plan shall be administered by the Compensation
Committee, which shall consist of those members of the Board who are, from time
to time, duly appointed to the Committee by the Board from among the Directors.

      The Committee shall have the full, final and preemptive power and
authority, exercisable in its sole discretion, to grant Incentive Stock Options
to eligible Employees, pursuant to the terms of the Plan.

      In particular, but not by way of limitation, the Committee shall have the
authority:

      (i) to select those Employees to whom Options may from time to time be
granted under the Plan;

      (ii) to determine whether and to what extent Options are to be granted
hereunder; and

      (iii) to determine the terms and conditions under which Options granted
under the Plan are to be held, exercised and forfeited, including those terms
and conditions which relate to vesting and expiration, all of which shall be
subject to ratification by the Board and shall be entirely consistent with both
the terms of the Plan and the applicable provisions of the Code and the Treasury
Regulations.

      The Committee shall have the authority to adopt, alter and repeal such
administrative rules, guidelines and practices governing the Plan as it shall,
from time to time, determine to be advisable; to interpret the terms and
provisions of the Plan and any award issued under the Plan (and any agreements
relating thereto); and to otherwise supervise the administration of the Plan,
PROVIDED, HOWEVER, that any rule, guideline and practice adopted by the
Committee shall be entirely consistent in its terms and application with those
provisions of the Code and the

                                       4
<PAGE>

Treasury Regulations which relate to the continuing qualification of the Plan as
a qualified incentive stock option plan under Section 422 of the Code.

      All decisions made by the Committee pursuant to the provisions of the Plan
shall be final and binding on all persons, including the Bank and Participants.
No member of the Committee shall be liable for any action or determination made
in good faith.

SECTION 4. Eligibility
           -----------

4.01 Designation of Employees. All Employees of the Bank, including officers and
those Directors who are employees, are eligible to receive Incentive Stock
Options under the Plan. No Director or other person who is not an employee of
the Bank may receive Incentive Stock Options under the Plan.

4.02 Participants. The Committee may consider any legally permissible factor in
selecting Participants and in determining the type and amount of their incentive
Stock Options, including, but not limited to, (a) the current or anticipated
financial condition of the Bank, (b) the actual or anticipated contribution by
the Participant to the Bank and its customers, and (c) the other compensation
provided to the Participant. The Committee's award of an incentive Stock Option
to an Employee in any year shall not require the Committee to award, or preclude
the Committee from awarding, any Incentive Stock Option to that Employee in any
other year.

SECTION 5. Shares Subject the Plan
           -----------------------

5.01 Number of Shares. Subject to Section 8.07, the aggregate number of Shares
which may be issued under the Plan shall not exceed 67,879 Shares.

5.02 Expiration and Cancellation. If an Option granted under the Plan expires,
is terminated, or is otherwise canceled before its exercise, that Option and the
related shares of Common Stock shall

                                       5
<PAGE>

not apply toward the limits established under Section 5.01. If Shares issued or
awarded under this Plan are forfeited, canceled, terminated, or reacquired by
the Bank, those forfeited, canceled, terminated, or reacquired Shares shall not
apply toward the limits established under Section 5.01 and shall be available
again for the grant of Options.

5.03 Maintenance of Stock. Shares issued under the Plan shall be authorized and
unissued shares or shares of treasury stock. The Bank shall always maintain such
Shares in a number which is at least equal to the number of Shares for which
Options have been granted and remain outstanding and unexercised under the Plan
and any other stock option plan or arrangement established by the Bank.

SECTION 6. Stock Options
           -------------

      Each Incentive Stock Option granted under this Plan must be granted within
ten (10) years from the date on which the Plan was adopted by the Board, and
shall be subject to the following terms and conditions:

6.01 Price. The option price per share shall be equal to the Fair Market Value
of the Common Stock on the Grant Date of the Incentive Stock Option.

6.02 Number. The number of Shares covered by each Incentive Stock Option awarded
to each Participant shall be determined by the Committee, consistent with any
limitations which are set forth in the Code, the Treasury Regulations, or any
other applicable provision of law, subject to ratification by the Board. The
aggregate Fair Market Value on the Grant Date of those Shares with respect to
which Incentive Stock Options are exercisable for the first time by any
Participant during any calendar year (under all plans of the Bank) shall not
exceed One Hundred Thousand Dollars ($100,000).

                                       6
<PAGE>

6.03 Exercise. An Incentive Stock Option may be exercised, in whole or in part,
by giving written notice to the Bank (Attention: Chief Financial Officer) at its
principal office or to such transfer agent as the Bank may designate. The notice
shall identify the Incentive Stock Option being exercised and shall contain such
other information and terms as the Committee may require. The notice shall be
accompanied by full payment of the purchase price for the Shares, in such form
as the Committee shall determine to be consistent with the requirements of the
Code and any other applicable legal authority. As soon as practicable after
receipt of the written notice and full payment of the purchase price, the Bank
shall deliver to the person exercising the Stock Option one or more certificates
for the Shares. Unless exercised sooner, each Incentive Stock Option shall have
a Stated Expiration Date no later than ten (10) years after the Grant Date for
that Incentive Stock Option.

6.04 Limitation on Participation. No Incentive Stock Options shall be granted to
any Employee who, at the time at which such option would otherwise be granted,
owns (within the meaning of Section 422 of the Code) stock having more than 10%
of the total combined voting power of all classes of stock of the Bank.

6.05 Vesting. The vesting of Incentive Stock Options shall be determined by the
Committee and shall be a date and/or event(s) specified by the Committee with
respect to each Incentive Stock Option, provided that such date or event is not
before the Grant Date for that Incentive Stock Option. In the absence of an
express statement by the Committee as to the vesting of any particular Incentive
Stock Option, such Option shall vest immediately on the Grant Date with respect
to one third (1/3) of the Stock covered by the Option, and vest with respect to
an additional one third (1/3) on each anniversary date of the Grant Date of such
Option. Except as described in this provision, no other vesting schedule has
been established and any future vesting

                                       7
<PAGE>

of Incentive Stock Options, or any particular Incentive Stock Option, shall be
determined in the sole discretion of the Committee.

6.06 Incorporation by Reference of Applicable Provisions of the Code. Each
Incentive Stock Option agreement referred to in Section 8.05 and those
provisions of this Plan which relate to the terms and conditions under which the
Incentive Stock Options are issued, held and exercised shall contain or shall be
deemed to contain by incorporation all provisions required in order to qualify
the Incentive Stock Options as incentive stock options under Section 422 of the
Code, and the provisions of this Plan shall be interpreted and construed to
continuously effect such treatment under that Section.

SECTION 7. Expiration and Forfeiture of Incentive Stock Options
           ----------------------------------------------------

      Notwithstanding the Stated Expiration Date of a particular Incentive Stock
Option or those terms which relate to its exercise or vesting, all as set forth
in an Incentive Stock Option agreement, the related Option shall expire and be
subject to forfeiture in accordance with the terms of this Section 7 upon the
occurrence of any of the following events:

      If the Participant is terminated by the Bank as an Employee by reason of
Misconduct, all incentive Stock Options held by the Participant shall terminate
ipso facto and shall be immediately forfeited in their entirety as to their
vested and unvested portions;

      If the Participant's service as an Employee of the Bank terminates by
reason of the Participant's death, Disability, or retirement with the prior
approval of the Bank, all Options held by the Participant shall become fully
exercisable, vested and non-forfeitable, and shall expire on a date which is the
earlier of (i) the Stated Expiration Date of such Options or (ii) (a) in the
case of such a termination other than by reason of the Participant's death,
ninety (90) days from the

                                       8
<PAGE>

Participant's termination as an Employee of the Bank or (b) in the case of the
Participant's death, one year from the date of death;

      If the Participant's service as an Employee of the Bank terminates other
than for any of the reasons set forth in the previous two paragraphs of this
Section 7, the unvested portion of all Incentive Stock Options held by the
Participant on the date of such Voluntary Termination shall be forfeited, and
the vested portion shall become fully exercisable and shall expire on a date
which is the earlier of the stated expiration date of such Options or ninety
(90) days from the Participant's termination as an Employee of the Bank;

      Notwithstanding the foregoing terms, if the Participant's service as an
Employee of the Bank or any successor to the Bank terminates within two (2)
years after any Change in Control for any reason other than Misconduct, all
Incentive Stock Options held by the Participant shall become fully vested and
non-forfeitable upon such termination of employment, and shall expire on the
earlier of (i) the Stated Expiration Date of such Options or (ii) ninety (90)
days from the Participant's termination as an Employee of the Bank or its
successor.

      No Stock Option granted under the Plan shall provide for the payment of
cash to any Director or Employee upon its cancellation.

SECTION 8. General.
           -------

8.01 Effective Date. This Plan shall be effective as of the date of its approval
by the shareholders of the Bank in accordance with the applicable provisions of
the Banking Act of 1948, N.J.S. 17:9A-1 et seq., and the regulations promulgated
under the Act. If shareholder approval is not obtained within one year following
the date the Plan is adopted by the Board, the Plan and any award of Options by
the Committee in anticipation of its adoption shall be void ab initio.

                                       9
<PAGE>

8.02 Duration. Unless the Plan is terminated earlier by the Board of Directors
of the Bank, the Plan shall expire ten (10) years from the date on which the
Plan is approved by shareholders of the Bank. No Incentive Stock Option or other
rights under this Plan shall be granted thereafter. The Board, without further
approval of the Bank's shareholders, may at any time before that date terminate
the Plan. After the termination of the Plan under the foregoing sentence, no
further Incentive Stock Options may be granted under the Plan. Options granted
before any such termination shall continue to be exercisable, but only in
accordance with the terms of the Option as such terms are set forth in any
agreement with respect to the Option or this Plan.

8.03 Non-Transferability of Incentive Stock Options: Exercise by Participant. No
Option may be sold, pledged, assigned, encumbered, disposed of or otherwise
transferred other than by will or the laws of descent and distribution. The Bank
shall not be required to recognize any attempted disposition by any Participant
or Qualified Person. During a Participant's lifetime, such Participant's Options
are exercisable only by such Participant.

8.04 Change of Control. Notwithstanding anything to the contrary set forth in
the Plan in the event that (i) the Bank experiences a Change of Control, or (ii)
the Bank adopts a plan of complete liquidation, then (A) all Incentive Stock
Options granted hereunder shall be fully exercisable upon the consummation of
such event and (B) the Bank may, in the exercise of its sole discretion, give a
Participant written notice thereof requiring such Participant either (1) to
exercise his or her Options within thirty days after receipt of such notice,
including all installments whether or not they would otherwise be exercisable at
that date, (2) in the event of a merger or consolidation in which shareholders
of the Bank will receive shares of another corporation, to agree to convert his
or her Options into comparable options to acquire such shares, (3) in the event
of a merger or consolidation in which shareholders of the Bank will

                                       10
<PAGE>

receive cash or other property (other than capital stock), to agree to convert
his or her Options into such consideration (in an amount representing the
appreciation over the exercise price of such Options) or (4) to surrender such
Options or any unexercised portion thereof. Any Options as to which the Bank
does not issue a notice of the type described in the foregoing sentence shall
remain subject to all of the terms and conditions of this Plan and the Incentive
Stock Option agreement, including, but not limited to, the terms and conditions
of Section 7 of this Plan.

8.05 Incentive Stock Option Agreements. The terms of each Incentive Stock Option
shall be stated in an agreement between the Bank and the Participant in a form
approved by the Committee. The Participant must execute and deliver the
agreement to the Bank as a condition to the effectiveness of the Option. All
such agreements may contain all such terms and condition as the Committee
considers to be advisable which are not inconsistent with the Plan and the
applicable provisions of the Code, including, but not limited to, provisions
which relate to vesting, exercise, expiration and transfer restrictions on those
Incentive Stock Options which are subject to the Incentive Stock agreement.

8.06 Compliance with Law. The Bank may determine, in its sole discretion, that
it is necessary or desirable to list, register or qualify (or to update any
listing, registration or qualification of) any Option or the Shares issuable or
issued under any Option granted under this Plan on any securities exchange or
under any federal or state securities law, or to obtain consent or approval of
any governmental body as a condition to, or in connection with, the award of any
Option, the issuance of Shares under any Option or this Plan, or the removal of
any restrictions imposed on such Shares. If the Bank makes such a determination,
the Option shall not be awarded or the Shares shall not be issued or the
restrictions shall not be removed, as the case may be, in whole or in part,
unless and until the listing, registration, qualification, consent or approval
shall have

                                       11
<PAGE>

been effected or obtained free of any conditions not acceptable to the Bank. The
Bank's obligation to sell or issue Shares under any Option is subject to the
compliance with all applicable laws and regulations. The Committee, in its sole
discretion, shall determine whether the sale and issue of Shares is in
compliance with all applicable laws and regulations.

8.07 Adjustment. If the outstanding Shares of Common Stock are increased or
decreased or changed into or exchanged for a different number or kind of
securities of the Bank or of another corporation, by reason of reorganization,
merger, consolidation, recapitalization, reclassification, stock split,
combination of securities or dividend payable in corporate securities, then an
appropriate adjustment shall be made by the Board in the number, kind and/or
price of Shares with respect to which Options may be granted under the Plan. In
addition, the Board shall make appropriate adjustment in the number, kind and/or
price of Shares as to which outstanding Options, or portions thereof then
unexercised, shall be exercisable. In the event of any such adjustment, the
exercise price of any Option, the performance objectives, restrictions or other
terms and conditions of any Option and the Shares issuable under any Option
shall be adjusted as and to the extent appropriate, in the sole and absolute
discretion of the Board, to provide each Participant with substantially the same
relative rights before and after such adjustment to the extent practical.

8.08 Withholding. The Bank shall have the right to withhold from any payments
made under the Plan or to collect as a condition to any award, payment or
issuance of Shares under the Plan any taxes required to be withheld by Federal,
state or local law, with such withholding being effected in the manner
determined by the Committee.

                                       12
<PAGE>

8.09 No Right to Continued Employment. No Participant under the Plan shall have
any implicit right to continue in the employ of the Bank for any period of time
because of his or her participation in the Plan.

8.10 No Right as Shareholder. No Participant or Qualified Person shall have the
rights of a shareholder with respect to the Shares covered by an Option unless
and until such time as a stock certificate is issued to that person for the
Shares. No adjustment shall be made for cash dividends or similar rights for
which the record date is before the date on which such stock certificate is
issued.

8.11 Amendment of the Plan. In accordance with all applicable law, the Board may
amend the Plan from time to time in such respects as the Board deems advisable.
No such amendment, however, shall (a) change or impair an Option without the
consent of the Participant or Qualified Person holding that Option, or (b)
without the prior approval of the Bank shareholders: (i) increase the limits
provided in Section 5.01 (except by adjustment under Section 7.07); (ii) change
the class of person eligible to receive Options under the Plan; or (iii) make
any other change that requires approval of the Bank shareholders either under
applicable law or to preserve the treatment of the Incentive Stock Options as
such under Section 422 of the Code.

8.12 Definition of Fair Market Value. Whenever "Fair Market Value" of the Common
Stock is to be determined for purposes of this Plan, it shall be conclusively
determined by the Committee, which may use all or any combination of the bid
price last quoted by a reputable brokerage firm on such Grant Date; an
independent third party assessment of the fair market value of the Common Stock;
and the prices at which the most recent transactions in the Common Stock have
been effected. In no event shall any Option be granted for less than par value
of the Common Stock.

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<PAGE>

8.13 Investment Letter. If required by the Committee, each Participant shall
agree to execute a statement directed to the Bank, upon each and every exercise
by such Participant of any Stock Options, that shares of Common Stock issued
thereby are being acquired for investment purposes only and not with a view to
the distribution thereof, and containing an agreement that such Shares will not
be sold or transferred unless either (1) registered under the Securities Act of
1933 and all applicable state securities laws, or (2) exempt from such
registration in the opinion of Bank counsel. If required by the Committee,
certificates representing shares of Common Stock issued upon exercise of Stock
Options shall bear a restrictive legend summarizing the restrictions on
transferability applicable thereto.

8.14 Fractional and Minimum Shares. In no event shall a fraction of a share of
Common Stock be purchased or issued under the Plan without Board approval. The
Committee may specify a minimum number of Shares for which each Stock Option
must be exercised.

8.15 Application of Funds. The proceeds received by the Bank from the sale of
shares of Common Stock under the Plan shall be used for general corporate
purposes.

8.16 Other Incentives and Plans. Nothing in this Plan shall prohibit the Bank
from establishing other employee incentives and plans.

8.17 Governing Law. The validity and construction of the Plan and of each
agreement evidencing Incentive Stock Options shall be governed by the laws of
the State of New Jersey, excluding the conflict-of-laws principles thereof.

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