Document:

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                                                                    Exhibit 10.8

                             FIRST AMENDMENT TO THE
                             EXECUTIVE SUPPLEMENTAL
                                 RETIREMENT PLAN

         With mutual consent and for valuable consideration hereby recognized,
this First Amendment to the Executive Supplemental Retirement Plan for Gregory
J. Kreis (the "Executive"), dated this May 18, 2000, is for purpose of amending
the Agreement as follows:

The following Subparagraphs shall be modified in Section I:

         1.11  "Interest Factor" means seven and one half percent (7.5%) per
               annum.

         1.17  "Supplemental Retirement Income Benefit" means an annual amount,
               payable over the Payout Period, equal to $152,033.

         All other provisions of the Executive Supplemental Retirement Plan for
Gregory J. Kreis, which are not specifically modified by this First Amendment,
are hereby incorporated and shall remain in full force and effect.

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         IN WITNESS WHEREOF, the Bank and the Executives have caused this First
Amendment, effective as of the above date, to be executed.

ATTEST:                                OSWEGO COUNTY SAVINGS BANK

____________________________           By: /s/ Bruce P. Frassinelli
                                           -------------------------------------
                                           Title: Chairman, Personnel and
                                           Compensation Committee

                                       EXECUTIVE

                                       By: /s/ Gregory J. Kreis
                                           -------------------------------------
                                           Gregory J. Kreis<PAGE>

                                                                    Exhibit 10.9

                           OSWEGO COUNTY BANCORP, INC.

                     TEXT OF THE OSWEGO COUNTY BANCORP, INC.
                          STOCK OPTION PLAN AS PROPOSED

1.   PURPOSES OF THE PLAN

           The purpose of the Oswego County Bancorp, Inc. Stock Option Plan is
     to provide a method by which those directors, officers and employees of the
     Company and its Subsidiaries who are largely responsible for the
     management, growth, and protection of the business, and who are making and
     can continue to make substantial contributions to the success of the
     business, may be encouraged to acquire a larger stock ownership in the
     Company thus increasing their proprietary interest in the business,
     providing them with greater incentive for their continued employment, and
     promoting the interests of the Company and all its stockholders.
     Accordingly, the Company will, from time to time during the term of the
     Plan, grant to such employees as may be selected in the manner provided in
     the Plan, options to purchase shares of Common Stock of the Company subject
     to the conditions provided in the Plan. The Plan is subject to the
     provisions of Section 140-a of the New York Banking Law, the regulations of
     the New York Banking Board and any other applicable law or regulation.

2.   DEFINITIONS

           Unless the context clearly indicates otherwise, the following terms
     have the meanings set forth below.

           (a) "Bank" means Oswego County Savings Bank.

           (b) "Board of Directors" or "Board" means the Board of Directors of
     the Company.

           (c) "Change in Control" of the Bank or the Company means:

               (1) a reorganization, merger, conversion, consolidation, or sale
     of all or substantially all of the assets of the Bank, the Company or
     Oswego County MHC, or a similar transaction in which the Bank, the Company,
     or Oswego County MHC is not the resulting entity and that is not approved
     by a majority of the Board of Directors of the Company; or

               (2) individuals who constitute the incumbent board of the Bank,
     the Company or Oswego County MHC cease for any reason to constitute a
     majority thereof; provided that any person becoming a director subsequent
     to the date hereof whose election was approved by a vote of at least
     three-fourths of the directors composing the incumbent board or whose
     nomination for election by the Company's stockholders was approved by the
     same nominating committee serving under the incumbent board shall be, for
     purposes of this Section, considered as through he or she were a member of
     the incumbent board;

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               (3) an acquisition of "control" of the Bank or the Company as
     defined in the Bank Holding Company Act of 1956, as amended and applicable
     rules and regulations promulgated thereunder as in effect at the time of
     the Change in Control (collectively, the "BHCA"), as determined by the
     Board of Directors of the Bank, the Company or Oswego County MHC; or

               (4) an acquisition of the Bank's stock requiring submission of
     notice under the Change in Bank Control Act; provided, however, that a
     Change in Control shall not be deemed to have occurred under paragraph (1),
     (3) or (4) of this subsection (c) if the transactions constituting a Change
     in Control are approved by a majority of the Board of Directors of the
     Company; or

               (5) (A) an event of a nature that would be required to be
     reported in response to Item l of the current report on Form 8-K, as in
     effect on the date hereof, pursuant to Section 13 of 15(d) of the Exchange
     Act or results in a change in control of the Bank, the Company or Oswego
     County MHC within the meaning of the BHCA; or (B) such time as (i) any
     "person" (as the term is used in Section 13(d) and 14(d) of the Exchange
     Act) other than Oswego County MHC is or becomes a "beneficial owner" (as
     defined in Section 13(d)(3) of the Exchange Act) directly or indirectly, of
     securities of the Company or the Bank representing 25 or more of the
     outstanding securities ordinarily having the right to vote at the election
     of directors except for any securities of the Company purchased by the
     Bank's employee stock ownership plan and trust shall not be counted in
     determining whether such plan is the beneficial owner of more than 25% of
     the Bank's securities, (ii) a proxy statement soliciting proxies from
     stockholders of the Company, by someone other than the current management
     of the Company, seeking stockholder approval of a plan or reorganization,
     merger or consolidation of the Company or the Bank or similar transaction
     with one or more corporations as a result of which the outstanding shares
     of the class of securities then subject to the plan or transaction are
     exchanged or converted into cash or property or securities not issued by
     the Bank or the Company, or (iii) a tender offer is made for 25% or more of
     the voting securities of the Company and the stockholders owning
     beneficially or of record 25% or more of the outstanding securities of the
     Company have tendered or offered to sell their shares pursuant to such
     tender offer and such tendered shares have been accepted by the tender
     offeror.

           (d) "Code" means the Internal Revenue Code of 1986, as amended.
     References in this Plan to Sections of the Code are intended to refer to
     Sections of the Code as enacted at the time of this Plan's adoption by the
     Board and as subsequently amended, or to any substantially similar
     successor provisions of the Code resulting from recodification, renumbering
     or otherwise.

           (e) "Committee" means a Committee of two or more Non-Employee
     Directors, appointed by the Board, to administer and interpret this Plan.

           (f) "Common Stock" means the common stock of the Company, par value
     $0.01 per share.

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           (g) "Company" means Oswego County Bancorp, Inc., a Delaware
     corporation with its principal place of business at 44 East Bridge Street,
     Oswego, New York 13126.

           (h) "Director" means a member of the Board of Directors.

           (i) "Exchange Act" means the Securities Exchange Act of 1934.

           (j) "Grant Date" as used with respect to a particular Option, means
     the date as of which such Option is granted by the Board or Committee
     pursuant to the Plan.

           (k) "Incentive Stock Option" means an Option that qualifies as an
     Incentive Stock Option as described in Section 422 of the Code.

           (l) "Non-Employee Director" shall have the meaning provided in Rule
     16b-3(b)(3)(i) under the Exchange Act.

           (m) "Non-Qualified Stock Option" means any Option granted under the
     Plan other than an Incentive Stock Option.

           (n) "Option" means an option granted pursuant to Section 5 of the
     Plan to purchase shares of Common Stock and which shall be designated as
     either an Incentive Stock Option or a Non-Qualified Stock Option.

           (o) "Optionee" means an individual to whom an Incentive Stock Option
     or a Non-Qualified Stock Option is granted pursuant to the Plan.

           (p) "Permanent and Total Disability," as applied to an Optionee,
     means that the Optionee has (1) established to the satisfaction of the
     Company that the Optionee 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 which has lasted or
     can be expected to last for a continuous period of not less than twelve
     months, all within the meaning of Section 22(e)(3) of the Code, and (2)
     satisfied any requirement imposed by the Committee.

           (q) "Plan" means the Oswego County Bancorp, Inc. Stock Option Plan as
     set forth herein and as may be amended from time to time.

           (r) "Subsidiary" means any banking institution, stock corporation or
     other entity of which a majority of the voting common or capital stock is
     owned, directly or indirectly, by the Company and any company designated as
     such by the Committee, but only during the period of such ownership or
     designation.

3.   ADMINISTRATION OF THE PLAN

           (a) The Committee will administer this Plan. On the date hereof, the
     Committee is the Personnel and Compensation Committee of the Board. The
     Board may from time to time remove members from or add members to the
     Committee. Vacancies

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     on the Committee, howsoever caused, shall be filled by the Board. The Board
     shall select one of the Committee's members as Chairman. The Committee
     shall hold meetings at such times and places as it may determine, subject
     to such rules as to procedures not inconsistent with the provisions of the
     Plan as are prescribed by the Board, set forth in the Company's By-Laws,
     and as prescribed by the Committee itself. A majority of the authorized
     number of members of the Committee shall constitute a quorum for the
     transaction of business. Acts reduced to or approved in writing by a
     majority of the members of the Committee then serving shall be valid acts
     of the Committee.

           (b) The Committee shall be vested with full authority to make such
     rules and regulations as it deems necessary or desirable to administer the
     Plan and to interpret the provisions of the Plan. Any determination,
     decision, or action of the Committee in connection with the construction,
     interpretation, administration, or application of the Plan shall be final,
     conclusive, and binding upon all Optionees and any person claiming under or
     through an Optionee unless otherwise determined by the Board.

           (c) No member of the Committee may be under consideration for a grant
     of Options at the time the Committee grants Options or otherwise acts
     (except for the specific grants on the date of this Plan set forth in
     subsection (b) of Section 5). No member of the Committee or of the Board
     shall be liable for any determination, decision, or action made in good
     faith with respect to the Plan or any Option granted under the Plan.

4.   STOCK SUBJECT TO THE PLAN

           (a) The Common Stock to be issued or transferred under the Plan will
     be the Company's Common Stock which will be made available, at the
     discretion of the Board, either from authorized but unissued Common Stock
     or from Common Stock reacquired by the Company, including shares purchased
     in the open market. The aggregate number of shares of Common Stock which
     may be issued under the Platt shall not exceed 39,950 shares.

           (b) In the event that any outstanding Options for any reason expire
     or are terminated without exercise, the shares of Common Stock allocable to
     the unexercised Options shall not again be made subject to Option under the
     Plan.

5.   GRANT OF THE OPTIONS

           (a) Officers and Key Employees

           The Committee may from time to time grant Options to officers and key
     employees of the Company and its Subsidiaries to purchase shares of Common
     Stock. The Committee may designate any Options granted as either Incentive
     Stock Options or as Non-Qualified Stock Options, or the Committee may
     designate a portion of the Incentive Stock Options and the remaining
     portion as Non-Qualified Stock Options. Options granted to officers and key
     employees shall vest and be exercisable in accordance with a schedule fixed
     by the Committee at the time of grant. No Optionee shall receive more than
     25% of the total Options under this Plan.

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           (b) Directors

           Each Director who on March 16, 2000 is also an employee of the
     Company or a Subsidiary shall be granted Incentive Stock Options on such
     date to purchase 9,987 shares of Common Stock. Each Director who is serving
     in such capacity on March 16, 2000, and who is not on such date an employee
     of the Company or any Subsidiary, shall be granted on such date
     Non-Qualified Stock Options to purchase 1,712 shares of Common Stock. Such
     Options shall vest and be exercisable in accordance with the following
     schedule:

              Percent Vested       Anniversary Date of Grant
             ----------------     ---------------------------

                   20%                       1/st/
                   40%                       2/nd/
                   60%                       3/rd/
                   80%                       4/th/
                  100%                       5/th/

     Such Options shall expire upon the date 10 years after the date of grant.
     No additional Options may be granted to Directors who are not employees of
     the Company or a Subsidiary, absent an amendment to this Plan in accordance
     with Section 13. Directors who are not employees of the Company or a
     Subsidiary shall not receive more than 5% of the total Options under the
     Plan individually, or more than 30% of the total available Options in the
     aggregate.

           (c) Vesting upon Change in Control

           In the event of a Change in Control of the Company or the Bank, all
     Options that have been awarded shall immediately vest and become
     exercisable.

6.   OPTION PRICE

           The purchase price per share of any Option granted under the Plan
     shall be 100 percent of the fair market value of one share of Common Stock
     on the date the Option is granted. For purposes of the Plan, the fair
     market value of a share of Common Stock shall be the mean between the high
     and low prices for a share of Common Stock as quoted by the National
     Association of Securities Dealers Automated Quotation System ("NASDAQ") for
     the day of the grant; if there is only one price quoted for the day of the
     grant, then the fair market value shall be such price; and if no such price
     is quoted for the day of the grant, the fair market value shall be the
     previous closing price. If the Common Stock is not reported on NASDAQ, the
     fair market value of share shall mean the average sale price of all shares
     of Common Stock sold during the period of 30 calendar days immediately
     preceding the date on which the Options were granted, and if no shares of
     Common Stock have been sold within such 30-day period, then fair market
     value shall be determined by the Committee.

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7.   ELIGIBILITY OF OPTIONEES

          (a) Options shall be granted only to persons who are either key
     employees of the Company and its Subsidiaries, or Directors of the Company,
     in each case as determined by the Committee at the time of the grant.

          (b) Subject to the terms, provisions, and conditions of the Plan and
     subject to review by the Board, the Committee shall have exclusive
     jurisdiction to (1) select the key employees and directors to be granted
     Options, (2) determine the number of Options to be granted to each
     Optionee, (3) determine the date or dates when Options will be granted, (4)
     determine the purchase price of the shares subject to each Option in
     accordance with Section 6 of the Plan, (5) determine the date when each
     Option shall vest and become non-forfeitable by the Optionee, (6) determine
     the date or dates when each Option may be exercised within the term of the
     Option specified pursuant to Section 9 of the Plan, (7) determine whether
     or not an option constitutes an Incentive Stock Option, and (8) prescribe
     the form, which will be consistent with the Plan, of the documents
     evidencing any Options granted under the Plan.

          (c) Neither anything contained in the Plan or in any document under
     the Plan nor the grant of any Option under the Plan shall confer upon any
     Optionee any right to continue in the employ of the Company or of any
     Subsidiary or limit in any respect the right of the Company or any
     Subsidiary to terminate the Optionee's employment at any time and for any
     reason.

8.   NON-TRANSFERABILITY

          No Option granted under the Plan shall be assignable or transferable
     by the Optionee other than by will or the laws of descent and distribution,
     and during the lifetime of an Optionee, the Option shall be exercisable
     only by such Optionee.

9.   TERM AND EXERCISE OF OPTIONS

          (a) Each Option granted under the Plan shall terminate on the date
     determined by the Committee and specified in the Option Agreement, provided
     that each Option shall terminate not later than ten years after the Grant
     Date. The Committee, at its discretion, may provide further limitations on
     the exercisability of Options granted under the Plan. An Option may be
     exercised only during the continuance of the Optionee's employment, except
     as provided in Section 10 of the Plan.

          (b) A person electing to exercise an Option shall give written notice
     to the Company, in such form as the Committee shall have prescribed or
     approved, of such election and of the number of shares he or she has
     elected to purchase and shall at the time of exercise tender the full
     purchase price of any shares he or she has elected to purchase. The
     purchase price upon the exercise of an Option shall be paid in full in
     cash; provided, however, that in lieu of cash, with the approval of the
     Committee at or prior to exercise, an Optionee may exercise his or her
     Option by tendering to the Company shares of Common Stock owned by him or
     her and having a fair market value equal to the cash exercise price
     applicable to his or her Option, with the then fair market value of such

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     stock to be determined in the manner provided in Section 6 of the Plan
     (with respect to the determination of the fair market value of Common Stock
     on the date an Option is granted). However, if an Optionee pays the Option
     exercise price of a Non-Qualified Stock Option in whole or in part in the
     form of Common Stock already owned by the Optionee, the Company may require
     that the Optionee have owned the stock for a period of time that would not
     cause the exercise to create a charge to the Company's earnings. Such
     provisions may be used by the Company to prevent a pyramid exercise. As
     conditions to exercising an Option, the holder must (1) arrange to pay the
     Company any amount required to be withheld under any tax law on the account
     of the exercise, and (2) in the case of an Incentive Stock Option, agree to
     notify the Company of any disqualifying disposition (as defined in Section
     421 of the Code) of the Common Stock acquired upon the exercise and agree
     to pay the Company any amount required to be withheld under any tax law on
     account of the disposition. Any payment on account of withholding taxes
     shall be made in a form acceptable to the Committee.

          (c) An Optionee or a transferee of an option shall have no rights as a
     stockholder with respect to any shares covered by his or her Option until
     the date the Stock Certificate is issued evidencing ownership of the
     shares. No adjustment shall be made for dividends (ordinary or
     extraordinary) whether in cash, securities, or other property, or
     distributions or other rights for which the record date is prior to the
     date such Stock Certificate is issued, except as provided in Section 14 of
     the Plan.

          (d) A person may, in accordance with other provisions of the Plan,
     elect to exercise Options in any order, notwithstanding the fact that
     Options granted to him or her prior to the grant of the Options selected
     for exercise are unexpired.

10.  TERMINATION OF EMPLOYMENT

          If an Optionee severs from all employment with the Company and/or its
     Subsidiaries, any Option granted to him or her under the Plan shall
     terminate as follows:

          (a) An Option held by an Optionee who is Permanently and Totally
     Disabled shall terminate (i) in the case of an Incentive Stock Option, one
     year after the date of termination of employment, and (ii) in the case of a
     Non-Qualified Stock Option, upon its expiration date;

          (b) A Non-Qualified Stock Option held by an Optionee shall be
     exercisable within a period of one year from the date the Optionee's death
     by the executor or administrator of the Optionee's estate or by the person
     to whom the Optionee shall have transferred such right by last will and
     testament or by the laws of descent or distribution;

          (c) An Incentive Stock Option or a Non-Qualified Stock Option held by
     an Optionee whose employment terminates for cause, as determined by the
     Committee, shall expire immediately upon the date of termination unless
     some other expiration date is fixed by the Committee; and

          (d) An Option held by an Optionee whose employment terminates for any
     reason other than those specified in subsection (a), (b), or (c) above
     shall expire (i) in the

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     case of an Incentive Stock Option, three months after the date of
     termination of employment, and (ii) in the case of a Non-Qualified Stock
     Option, unless another date is fixed by the Committee, eighteen months
     after the date of termination.

          Upon termination of an Optionee's employment (or service) due to
     death, disability, Change in Control or, in the case of an officer or
     employee, normal retirement, all Options held by the Optionee, whether or
     not vested at that time, shall vest and become exercisable upon termination
     of employment. In no event, however, shall any Option be exercisable after
     its expiration date.

          Whether an authorized leave of absence or an' absence for military or
     governmental service shall constitute termination of employment for
     purposes of the Plan shall be determined by the Committee, which
     determination shall be final, conclusive, and binding upon the affected
     Optionee and any person claiming under or through such Optionee.
     Termination of employment with any Subsidiary in order to accept employment
     with another Subsidiary or while remaining an employee of the Company or of
     any of its Subsidiaries shall not be a termination of employment for the
     purposes of this Section 10.

11.  MODIFICATION, EXTENSION, AND RENEWAL

          Subject to the terms and conditions and within the limitations of the
     Plan, the Committee may modify, extend, or renew outstanding Options (to
     the extent not theretofore exercised) and authorize the granting of new
     Options in substitution therefor. Without in any way limiting the
     generality of the foregoing, the Committee may grant to an Optionee, if he
     or she is otherwise eligible and consents thereto, a new or modified Option
     in lieu of an outstanding Option for a number of shares at an exercise
     price and for a term which are greater or less than under the earlier
     Option or may do so by cancellation and re-grant, amendment, substitution,
     or otherwise, subject only to the general limitations and conditions of the
     Plan. The foregoing notwithstanding, no modification of an Option shall,
     without consent of the Optionee, alter or impair any rights or obligations
     under any Option theretofore granted under the Plan.

12.  PERIOD IN WHICH GRANTS MAY BE MADE

          Options may be granted under the Plan at any time on or before March
     16, 2010.

13.  AMENDMENT

          The Board may at any time amend, modify, or suspend the Plan, subject
     only to the approval of the New York Superintendent of Banks, provided
     that, without the approval of the stockholders of the Company, no amendment
     or modification shall be made by the Board which (a) increases the maximum
     number of shares as to which Options may be granted under the Plan; (b)
     changes the number of shares which may be optioned to any single
     individual; (c) alters the method by which the Option price is determined,
     or decreases the Option price; (d) extends the term of this Plan or extends
     any Option for a period of longer than ten years after the date of the
     grant; (e) changes the persons or category of persons eligible to be
     granted Options; or (f) alters this Section 13

<PAGE>

     so as to defeat its purpose. Further, no amendment, modification, or
     suspension, or termination of the Plan shall in any manner affect any
     Option theretofore granted under the Plan without the consent of the
     Optionee or any person validly claiming under or through the Optionee.

14.  CHANGES IN CAPITALIZATION

          (a) In the event that the Common Stock, as presently constituted,
     shall be changed into or exchanged for a different number or kind or shares
     of stock or other securities of the Company or of another corporation
     (whether by reason of merger, consolidation, recapitalization,
     reclassification, split-up, combination of shares, or otherwise), or if the
     number of shares of Common Stock shall be increased through the payment of
     a stock dividend, then the Board, subject to the approval of the New York
     Superintendent of Banks, shall substitute for or add to each share of
     Common Stock which was theretofore appropriated or which thereafter may
     become subject to an Option under the Plan the number and kind of shares of
     stock or other securities into which each outstanding share of Common Stock
     shall be so changed, or for which each such share shall be exchanged, or to
     which each such share shall be entitled, as the case may be. Outstanding
     Options shall also be appropriately amended as to the price and other terms
     as may be necessary to reflect the foregoing events. The maximum number of
     shares of Common Stock upon which Options may be granted, as provided in
     Section 4(a) of the Plan, shall be adjusted proportionately to reflect any
     of the foregoing events.

          (b) Fractional shares resulting from any adjustment in Options
     pursuant to this Section 14 may be settled as the Board shall determine.

          (c) Notice of any of the foregoing adjustments shall be given by the
     Company to each holder of an Option which shall have been so adjusted.

          (d) The grant of an Option pursuant to the Plan shall not affect in
     any way the right or power of the Company to make adjustments,
     reclassification, reorganizations, or changes of its capital or business
     structure or to merge, consolidate, dissolve, liquidate, sell or transfer
     all or any part of its business assets.

15.  LISTING AND REGISTRATION OF SHARES

          (a) No Option granted pursuant to the Plan shall be exercisable in
     whole or in part if at any time the Board or the Committee, as the case may
     be, shall determine, in its discretion, that the listing, registration, or
     qualification of the shares of Common Stock subject to such Option on any
     securities exchange or under any applicable law, or the consent or approval
     of any government regulatory body, is necessary or desirable as a condition
     of or in connection with the granting of such Option or the issue of shares
     thereunder unless such listing, registration, qualification, consent, or
     approval shall have been affected or obtained free of any conditions not
     acceptable to the Board.

          (b) If a registration statement under the Securities Act of 1933 with
     respect to shares issuable upon exercise of any Option granted under the
     Plan is not in effect at the time of exercise, the person exercising such
     Option shall give the Committee a written

<PAGE>

     statement, satisfactory in form and substance to the Committee, that he or
     she is acquiring the shares for his or her own account for investment and
     not with a view to their disposition, the Company may place upon any stock
     certificate for shares issuable upon exercise of such Option such legend as
     the Committee may prescribe to prevent disposition of the shares in
     violation of the Securities Act of 1933 or any other applicable law.

16.  SIX MONTH HOLDING PERIOD

          Shares acquired pursuant to the exercise of Options shall not be sold
     or transferred for at least six months after the exercise date with respect
     to such Options.

17.  EFFECTIVE DATE OF PLAN

          Upon the ratification and approval of the stockholders of the Company
     at the 2000 Annual Meeting of Stockholders, the Plan shall be effective as
     of March 16, 2000.

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