Document:

Exhibit 10.8
                              AMENDED AND RESTATED
                     EXECUTIVE SALARY CONTINUATION AGREEMENT

     THIS AMENDED AND RESTATED AGREEMENT, made and entered into this 17th day of
June, 2008, by and between American Bank of New Jersey, a savings bank organized
and existing under the laws of the United States (hereinafter referred to as the
"Bank"), and Joseph Kliminski, an Executive of the Bank (hereinafter referred to
as the "Executive").

                              W I T N E S S E T H:
                               - - - - - - - - - -

     WHEREAS,  the  Executive  and the  Bank  have  previously  entered  into an
Executive Salary Continuation Agreement; and

     WHEREAS, since the execution of the original agreement,  certain changes to
Section 409A of the Internal Revenue Code of 1986, as amended (the "Code"), have
been enacted; and

     WHEREAS,  it is necessary to revise the original agreement to reflect these
changes to the Code;

     ACCORDINGLY,  it is the desire of the Bank and the  Executive to enter into
this  agreement  (sometimes  referred to herein as the  "Executive  Plan") under
which  the  Bank  will  agree  to make  certain  payments  to the  Executive  at
retirement or the Executive's  beneficiary(ies)  in the event of the Executive's
death pursuant to this agreement;

     FURTHERMORE,  it is the intent of the parties  hereto  that this  Executive
Plan be  considered  an unfunded  arrangement  maintained  primarily  to provide
supplemental  retirement  benefits  for  the  Executive,  and  be  considered  a
non-qualified  benefit plan for purposes of the Employee Retirement Security Act
of 1974,  as amended  ("ERISA").  The  Executive is fully  advised of the Bank's
financial  status and has had  substantial  input in the design and operation of
this benefit plan; and

     NOW, THEREFORE,  in consideration of services to be performed in the future
as well as of the mutual promises and covenants herein contained it is agreed as
follows:

I. EMPLOYMENT

     The Bank agrees to employ the  Executive  in such  capacity as the Bank may
     from time to time  determine.  The Executive will continue in the employ of
     the Bank in such capacity and with such duties and  responsibilities as may
     be assigned to him, and with such  compensation  as may be determined  from
     time to time by the Board of Directors of the Bank.

II. FRINGE BENEFITS

     The salary continuation  benefits provided by this agreement are granted by
     the  Bank as a  fringe  benefit  to the  Executive  and are not part of any
     salary  reduction  plan or an  arrangement  deferring  a bonus  or a salary
     increase.  The Executive has no option to take any current payment or bonus

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<PAGE>

     in  lieu  of  these  salary  continuation  benefits  except  as  set  forth
     hereinafter.

III. NORMAL RETIREMENT AGE

     Normal  Retirement  Age shall mean the date on which the Executive  attains
     age sixty-five (65).

IV. RETIREMENT BENEFIT

     Provided said  retirement  constitutes  a Separation  from Service (as that
     phrase is defined  under Section 409A of the Code and the  regulations  and
     guidance of general  applicability issued thereunder (referred to herein as
     "Section  409A")),  the  Bank,  commencing  with the first day of the month
     following the later of the date the Executive  actually retires or the date
     the Executive  attains his Normal  Retirement  Age,  shall pay Executive an
     annual benefit equal to fifty percent (50%) of the Executive's average base
     salary (with each year's base salary  determined  on an  annualized  basis,
     taking  into  account  any base  salary  adjustments  occurring  during the
     applicable year) based upon the average of the highest three (3) out of the
     last  five  (5)  years of  employment  (including  the  year in  which  the
     Separation  from  Service  occurs).  Said  benefit  shall  be paid in equal
     monthly  installments  (1/12 of the annual  benefit) until the death of the
     Executive.

     Notwithstanding  the foregoing,  if the Executive is, as of the date of his
     Separation  from  Service,  a "Specified  Employee"  (as defined in Section
     409A),  then the  retirement  benefits  described  in this Section IV shall
     commence  to be paid on the first day of the month  that next  follows  the
     six-month  anniversary  of the date the Executive  experiences a Separation
     from Service,  or his death, if earlier,  with the first payment  including
     all monthly  retirement  benefits that would have been  previously paid but
     for this sentence.

V. DEATH OF THE EXECUTIVE

     In the event of the death of the Executive,  this agreement shall terminate
     and, if applicable, the Executive's  beneficiary(ies) shall be paid a death
     benefit under the terms of the  Endorsement  Method Split Dollar  Agreement
     between the Executive and the Bank and not this agreement.

VI. BENEFIT ACCOUNTING

     The Bank shall account for this benefit using GAAP  accounting  principles.
     The Bank shall establish an accrued  liability  retirement  account for the
     Executive into which appropriate reserves shall be accrued.

VII. VESTING

     The Executive  shall be one hundred  percent  (100%) vested in the benefits
     provided herein.

                                       2

<PAGE>

VIII. OTHER TERMINATION OF EMPLOYMENT AND DISABILITY

     A. Other Termination of Employment:

               Subject to Subsection  VIII.A(i)  hereinbelow,  in the event that
          the  employment  of the  Executive  shall  terminate  prior to  Normal
          Retirement  Age, as provided in Section  III,  for reasons  other than
          "disability"  (as defined in Section  VIII.B) or Change of Control (as
          defined in Section IX), but  including  by the  Executive's  voluntary
          action or by the Executive's  discharge by the Bank without cause, and
          such termination of employment constitutes a Separation of Service (as
          defined in Section IV), then this agreement  shall  terminate upon the
          date of such  termination  of employment and the Bank shall pay to the
          Executive  as severance  compensation  an amount of money equal to the
          accrued balance of the Executive's  liability  reserve  account.  This
          severance compensation shall be paid in a lump sum no later than 2 1/2
          months   following  the  date  of  the   Executive's   termination  of
          employment.  Notwithstanding the foregoing,  if the Executive is as of
          the date of Separation from Service a "Specified  Employee" (as herein
          defined),  then  payment  under  this  Article  VIII shall not be paid
          earlier than the 183rd day following  the date the Executive  incurs a
          Separation from Service, or his death, if earlier.

          (i)  Discharge  for  Cause:  In  the  event  the  Executive  shall  be
               discharged  for cause at any time, all benefits  provided  herein
               shall be  forfeited.  The term "for cause" shall be as defined in
               the Executive's  Employment  Agreement  between the Executive and
               the Bank in effect at the time of said termination (or if no such
               agreement  exists,  the  Employment  Agreement  most  recently in
               effect between the Bank and the  Executive).  If a dispute arises
               as to discharge  "for  cause," such dispute  shall be resolved by
               arbitration as set forth in this Executive Plan.

     B. Disability:

               In  the  event  the  Executive  becomes  disabled  prior  to  his
          Separation   from   Service  (as  defined  in  Section  IV),  and  the
          Executive's  Separation from Service is on account of such disability,
          the Executive  shall be entitled to receive one hundred percent (100%)
          of the Executive's accrued liability balance at the time of Separation
          from Service for said disability. Except as otherwise provided herein,
          said accrued  liability  balance at  termination  shall be paid to the
          Executive in a lump sum no later than 2 1/2 months  following the date
          of the Executive's Separation from Service.

          Disability shall be defined in the Executive's Employment Agreement in
          effect at the time of his Separation from Service or, if no Employment
          Agreement  is then in effect,  then as defined in the Bank's long term
          disability policy in effect at the time of said disability. If neither
          definition  exists at the time of  termination  and there is a dispute
          regarding  whether the  Executive is disabled,  such dispute  shall be
          resolved by a physician  selected by the Bank, a physician selected by

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<PAGE>
          the Executive, and a third physician selected by each of the other two
          (2) physicians.  Such resolution  shall be binding upon all parties to
          this agreement.

          Notwithstanding  the foregoing,  if the disability  that gives rise to
          the  Executive's  Separation from Service does not cause the Executive
          to be "disabled" within the meaning of Section 409A, and if, as of the
          date of such  Separation  from Service,  the Executive is a "Specified
          Employee" (as defined in Section 409A),  then his disability  benefits
          payable  pursuant to this Section  VIII.B shall commence to be paid on
          the first day of the month that next follows the six-month anniversary
          of the date the Executive  incurs a Separation  from  Service,  or his
          death, if earlier.

IX. CHANGE OF CONTROL

     Change  of  Control  shall  be as  defined  in the  Executive's  Employment
     Agreement  between the Executive and the Bank in effect at the time of said
     Change  of  Control,  or if no such  agreement  is then in  effect,  by the
     regulations of the OTS in 12 CFR ss.574.  Upon a Change of Control,  if the
     Executive  subsequently  suffers an  involuntary  termination  of  service,
     except for cause, and such termination of service  constitutes a Separation
     from Service (as defined in Section  IV), or, upon a voluntary  termination
     of service  within twelve (12) months after such Change of Control,  if any
     of the following events, which have not been consented to in advance by the
     Executive in writing, occur: (i) if the Executive would be required to move
     his personal  residence or perform his principal  executive  functions more
     than forty (40) miles from the Executive's primary office as of the signing
     of this agreement,  or (ii) if the Bank should fail to maintain Executive's
     base compensation in effect as of the date of the Change of Control and the
     existing employee benefits plans,  including material fringe and retirement
     plans,  then the Executive  shall receive the benefits in Section IV herein
     upon attaining Normal Retirement Age (as defined in Section III), as if the
     Executive had been continuously  employed by the Bank until the Executive's
     Normal  Retirement  Age.  Notwithstanding  the foregoing,  all sums payable
     hereunder  shall be  reduced in such  manner and to such  extent so that no
     such payments made hereunder, when aggregated with all other payments to be
     made to the  Executive  by the Bank,  shall be deemed an "excess  parachute
     payment" in accordance  with Section 280G of the code and be subject to the
     excise tax provided at Section 4999(a) of the Code.

     Notwithstanding  the  above,  if the  Executive  is as of the  date  of his
     Separation from Service a "Specified  Employee" (as herein  defined),  then
     payment  under this Article IX shall not be paid earlier than the 183rd day
     following the date the Executive  incurs a Separation from Service,  or his
     death,  if earlier,  with any payments not made on account of this sentence
     being paid with the Executive's first payment.

X. RESTRICTIONS ON FUNDING

     The Bank shall have no obligation to set aside, earmark or entrust any fund
     or money with which to pay its  obligations  under this Executive Plan. The
     Executive, his beneficiary(ies),  or any successor in interest shall be and
     remain  simply a  general  creditor  of the Bank in the same  manner as any
     other creditor having a general claim for matured and unpaid compensation.

                                       4
<PAGE>

     The Bank reserves the absolute  right,  at its sole  discretion,  to either
     fund the  obligations  undertaken by this Executive Plan or to refrain from
     funding the same and to  determine  the  extent,  nature and method of such
     funding.  Should the Bank elect to fund this Executive Plan, in whole or in
     part,  through the purchase of life  insurance,  mutual  funds,  disability
     policies or annuities,  the Bank reserves the absolute  right,  in its sole
     discretion,  to terminate such funding at any time, in whole or in part. At
     no time shall the  Executive  be deemed to have any lien,  right,  title or
     interest  in any  specific  funding  investment  or assets of the Bank.  No
     manner of funding shall be permitted that would violate Section 409A.

     If the Bank  elects to invest in a life  insurance,  disability  or annuity
     policy on the life of the  Executive,  then the Executive  shall assist the
     Bank by freely  submitting to a physical exam and supplying such additional
     information necessary to obtain such insurance or annuities.

XI. MISCELLANEOUS

     A. Alienability and Assignment Prohibition:
        ---------------------------------------

          Neither the Executive,  nor the Executive's  surviving spouse, nor any
          other  beneficiary(ies) under this Executive Plan shall have any power
          or right  to  transfer,  assign,  anticipate,  hypothecate,  mortgage,
          commute,  modify or otherwise  encumber in advance any of the benefits
          payable hereunder nor shall any of said benefits be subject to seizure
          for  the  payment  of  any  debts,  judgments,   alimony  or  separate
          maintenance owed by the Executive or the Executive's beneficiary(ies),
          nor be  transferable  by operation of law in the event of  bankruptcy,
          insolvency or otherwise. In the event the Executive or any beneficiary
          attempts assignment, commutation,  hypothecation, transfer or disposal
          of the benefits  hereunder,  the Bank's  liabilities  shall  forthwith
          cease and terminate.

     B. Binding Obligation of the Bank and any Successor in Interest:
        -----------------------------------------------------------

          The Bank shall not merge or  consolidate  into or with another bank or
          sell  substantially  all of its assets to another bank, firm or person
          until such bank,  firm or person  expressly  agrees,  in  writing,  to
          assume and discharge the duties and obligations of the Bank under this
          Executive  Plan. This Executive Plan shall be binding upon the parties
          hereto,   their   successors,   beneficiaries,   heirs  and   personal
          representatives.

     C. Amendment or Revocation:
        -----------------------

          It is agreed by and  between  the  parties  hereto  that,  during  the
          lifetime  of the  Executive,  this  Executive  Plan may be  amended or
          revoked  at any time or  times,  in whole  or in part,  by the  mutual
          written  consent of the Executive and the Bank. No amendment  shall be
          permitted  that would  violate,  or cause this  agreement  to violate,
          Section 409A.

                                       5
<PAGE>

     D. Gender:
        ------

          Whenever in this  Executive  Plan words are used in the  masculine  or
          neuter  gender,  they shall be read and construed as in the masculine,
          feminine or neuter gender, whenever they should so apply.

     E. Effect on Other Bank Benefit Plans:
        ----------------------------------

          Nothing contained in this Executive Plan shall affect the right of the
          Executive  to  participate  in or  be  covered  by  any  qualified  or
          non-qualified   pension,   profit-sharing,   group,   bonus  or  other
          supplemental  compensation or fringe benefit plan  constituting a part
          of the Bank's existing or future compensation structure.

     F. Headings:
        --------

          Headings  and  subheadings  in this  Executive  Plan are  inserted for
          reference and convenience  only and shall not be deemed a part of this
          Executive Plan.

     G. Applicable Law:
        --------------

          The validity and interpretation of this agreement shall be governed by
          the laws of the State of New Jersey.

     H. 12 U.S.C. ss.1828(k):
        --------------------

          Any payments made to the Executive pursuant to this Executive Plan, or
          otherwise,  are subject to and conditioned  upon their compliance with
          12 U.S.C. ss.1828(k) or any regulations promulgated thereunder.

     I. Partial Invalidity:
        ------------------

          If any term, provision,  covenant, or condition of this Executive Plan
          is determined  by an arbitrator or a court,  as the case may be, to be
          invalid,  void, or unenforceable,  such determination shall not render
          any other term,  provision,  covenant or condition  invalid,  void, or
          unenforceable,  and the Executive  Plan shall remain in full force and
          effect notwithstanding such partial invalidity.

     J. Not a Contract of Employment:
        ----------------------------

          This  agreement  shall not be  deemed  to  constitute  a  contract  of
          employment  between the parties hereto, nor shall any provision hereof
          restrict the right of the Bank to discharge the Executive, or restrict
          the right of the Executive to terminate employment.

     K. Effective Date:
        --------------

          The  Effective  Date of this  agreement  shall be the date first above
          written.

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<PAGE>

XII. ERISA PROVISION

     A. Named Fiduciary and Plan Administrator:
        --------------------------------------

          The "Named  Fiduciary and Plan  Administrator"  of this Executive Plan
          shall be American  Bank of New  Jersey.  As Named  Fiduciary  and Plan
          Administrator,  the Bank  shall  be  responsible  for the  management,
          control and  administration of the Executive Plan. The Named Fiduciary
          may  delegate  to  others  certain   aspects  of  the  management  and
          operational  responsibilities  of the  Executive  Plan  including  the
          employment  of advisors and the  delegation of  ministerial  duties to
          qualified individuals.

     B. Claims Procedure and Arbitration:
        --------------------------------

          In the event a dispute  arises over benefits under this Executive Plan
          and  benefits  are not paid to the  Executive  (or to the  Executive's
          beneficiary(ies)  in the  case  of the  Executive's  death)  and  such
          claimants  feel they are  entitled to receive  such  benefits,  then a
          written   claim  must  be  made  to  the  Named   Fiduciary  and  Plan
          Administrator  named  above  within  sixty  (60)  days  from  the date
          payments are refused. The Named Fiduciary and Plan Administrator shall
          review the  written  claim and if the claim is denied,  in whole or in
          part, it shall provide in writing within sixty (60) days of receipt of
          such claim the  specific  reasons for such  denial,  reference  to the
          provisions of this  Executive  Plan upon which the denial is based and
          any additional material or information necessary to perfect the claim.
          Such written notice shall further  indicate the additional steps to be
          taken by claimants if a further review of the claim denial is desired.
          A claim  shall  be  deemed  denied  if the  Named  Fiduciary  and Plan
          Administrator  fail to take any action within the aforesaid  sixty-day
          period.

          If  claimants  desire a second  review  they  shall  notify  the Named
          Fiduciary and Plan  Administrator in writing within sixty (60) days of
          the first claim denial.  Claimants may review this  Executive  Plan or
          any  documents  relating  thereto  and submit any  written  issues and
          comments  they may feel  appropriate.  In their sole  discretion,  the
          Named  Fiduciary and Plan  Administrator  shall then review the second
          claim and provide a written decision within sixty (60) days of receipt
          of such claim. This decision shall likewise state the specific reasons
          for the decision and shall include reference to specific provisions of
          this agreement upon which the decision is based.

          Any  controversy or claim arising out of or relating to this Executive
          Plan, or breach thereof,  shall be settled  exclusively by arbitration
          in accordance  with the rules then in effect of the district office of
          the  American  Arbitration  Association  ("AAA")  nearest  to the home
          office of the  Bank,  and  judgment  upon the  award  rendered  may be
          entered in any court having jurisdiction thereof, except to the extent
          that the  parties  may  otherwise  reach a mutual  settlement  of such
          issue.  The provisions of this Paragraph  shall survive the expiration
          of this Executive Plan.
                                       7
<PAGE>

          Where a dispute  arises as to the Bank's  discharge  of the  Executive
          "for cause," such dispute shall  likewise be submitted to  arbitration
          as above  described  and the parties  hereto  agree to be bound by the
          decision thereunder.

XIII.  TERMINATION OR MODIFICATION OF AGREEMENT BY REASON OF CHANGES IN THE LAW,
RULES OR REGULATIONS

     Notwithstanding anything herein above to the contrary, the Bank is entering
     into this  Executive  Plan upon the  assumption  that certain  existing tax
     laws,  rules and regulations will continue in effect in their current form.
     If any said  assumptions  should  change and said change has a  detrimental
     effect  on this  Executive  Plan,  then  the  Bank  reserves  the  right to
     terminate or modify this Executive Plan accordingly. Furthermore, the Board
     has the right to  terminate  or modify  future  accruals  if so  determined
     within the Board's business judgment whether or not this Executive Plan has
     a detrimental effect on the Bank. Upon any said modification or termination
     of the Executive Plan, any benefits  accrued to the  Executive's  liability
     retirement account on the date of said modification or termination shall be
     paid to the Executive in a lump sum, subject to the provisions  below. Upon
     a Change of Control (Section IX), this paragraph shall become null and void
     effective  immediately  upon said  Change of Control.  Notwithstanding  the
     foregoing,  no amendment  shall be made to this  Executive  Plan that would
     violate,  or  cause  the  agreement  to  violate,   Section  409A.  Further
     notwithstanding  the foregoing,  the agreement may not be terminated unless
     all of the  requirements  of Section 409A regarding plan  terminations  are
     satisfied.   Accordingly,  unless  Section  409A  permits  otherwise,  this
     agreement may be terminated only if (a) all  arrangements  sponsored by the
     Bank and any  affiliated  entity  (within the meaning of Section 414(b) and
     414(c))  that are  required  to be  aggregated  with this  agreement  under
     Section 409A are terminated; (b) no payments other than payments that would
     be payable under the terms of the Executive  Plan or an aggregated  plan if
     the  termination  had  not  occurred  are  made  within  12  months  of the
     termination of the arrangements; (c) all payments are made within 24 months
     of the termination of the Executive Plan and related arrangements;  and (d)
     the Bank does not adopt a new  arrangement  that  would be  required  to be
     aggregated  with this  Executive  Plan under  Section 409A if the Executive
     participated in both arrangements, within three years of the termination of
     the agreement.

XIV. CONFIDENTIAL INFORMATION

     The  Executive  acknowledges  that during his  employment he will learn and
     have access to confidential information regarding the Bank or any affiliate
     and  its  customers  and  businesses  ("Confidential   Information").   The
     Executive  agrees and covenants not to disclose or use for his own benefit,
     or the  benefit  of any  other  person  or  entity,  any such  Confidential
     Information,  unless or until the Bank or any  affiliate  consents  to such
     disclosure  or use or such  information  becomes  common  knowledge  in the
     industry or is otherwise legally in the public domain.  The Executive shall
     not  knowingly   disclose  or  reveal  to  any   unauthorized   person  any
     Confidential Information relating to the Bank or any affiliates,  or to any
     of the businesses  operated by them,  and the Executive  confirms that such
     information   constitutes  the  exclusive  property  of  the  Bank  or  any
     affiliate.  The  Executive  shall not  otherwise  knowingly  act or conduct
     himself (a) to the material detriment of the Bank or its affiliates, or (b)
     in a manner  which is inimical or contrary to the  interests of the Bank or

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<PAGE>

     any affiliate.  Notwithstanding anything herein to the contrary, failure by
     the  Executive to comply with the  provisions of this Section may result in
     the immediate  termination of the Executive Plan within the sole discretion
     of the Bank,  disciplinary  action against the Executive  taken by the Bank
     and other remedies that may be available in law or in equity.

In witness whereof,  the parties hereto acknowledge that each has carefully read
this Executive Plan and executed the original thereof on the first day set forth
hereinabove, and that, upon execution, each has received a conforming copy.

                                             AMERICAN BANK OF NEW JERSEY
                                             Bloomfield, New Jersey

/s/ Kathleen Walsh                           By:      /s/ W. George Parker
--------------------------------                      --------------------
Witness
                                                      Title:   Chairman

/s/ Kathleen Walsh                                    /s/ Joseph Kliminski
--------------------------------                     ----------------------
Witness                                              Joseph Kliminski

                                       9Exhibit 10.7
                              AMENDED AND RESTATED
                     EXECUTIVE SALARY CONTINUATION AGREEMENT

     THIS AMENDED AND RESTATED AGREEMENT, made and entered into this 17th day of
June, 2008, by and between American Bank of New Jersey, a savings bank organized
and existing under the laws of the United States (hereinafter referred to as the
"Bank"), and Richard Bzdek, an Executive of the Bank (hereinafter referred to as
the "Executive").

                              W I T N E S S E T H:
                               - - - - - - - - - -

     WHEREAS,  the  Executive  and the  Bank  have  previously  entered  into an
Executive Salary Continuation Agreement; and

     WHEREAS, since the execution of the original agreement,  certain changes to
Section 409A of the Internal Revenue Code of 1986, as amended (the "Code"), have
been enacted; and

     WHEREAS,  it is necessary to revise the original agreement to reflect these
changes to the Code;

     ACCORDINGLY,  it is the desire of the Bank and the  Executive to enter into
this  agreement  (sometimes  referred to herein as the  "Executive  Plan") under
which  the  Bank  will  agree  to make  certain  payments  to the  Executive  at
retirement or the Executive's  beneficiary(ies)  in the event of the Executive's
death pursuant to this agreement;

     FURTHERMORE,  it is the intent of the parties  hereto  that this  Executive
Plan be  considered  an unfunded  arrangement  maintained  primarily  to provide
supplemental  retirement  benefits  for  the  Executive,  and  be  considered  a
non-qualified  benefit plan for purposes of the Employee Retirement Security Act
of 1974,  as amended  ("ERISA").  The  Executive is fully  advised of the Bank's
financial  status and has had  substantial  input in the design and operation of
this benefit plan; and

     NOW, THEREFORE,  in consideration of services to be performed in the future
as well as of the mutual promises and covenants herein contained it is agreed as
follows:

I.       EMPLOYMENT

          The Bank agrees to employ the  Executive in such  capacity as the Bank
          may from time to time  determine.  The Executive  will continue in the
          employ  of the  Bank  in  such  capacity  and  with  such  duties  and
          responsibilities as may be assigned to him, and with such compensation
          as may be  determined  from time to time by the Board of  Directors of
          the Bank.

II.      FRINGE BENEFITS

          The  salary  continuation  benefits  provided  by this  agreement  are
          granted by the Bank as a fringe  benefit to the  Executive and are not
          part of any salary reduction plan or an arrangement  deferring a bonus
          or a salary increase.  The Executive has no option to take any current
                                       1
<PAGE>

          payment or bonus in lieu of these salary continuation  benefits except
          as set forth hereinafter.

III.     NORMAL RETIREMENT AGE

          Normal  Retirement  Age  shall  mean the date on which  the  Executive
          attains age sixty-five (65).

IV.      RETIREMENT BENEFIT

          Provided said  retirement  constitutes  a Separation  from Service (as
          that  phrase  is  defined  under  Section  409A  of the  Code  and the
          regulations and guidance of general  applicability  issued  thereunder
          (referred to herein as "Section 409A")), the Bank, commencing with the
          first day of the month  following  the later of the date the Executive
          actually  retires  or  the  date  the  Executive  attains  his  Normal
          Retirement  Age, shall pay Executive an annual benefit equal to thirty
          percent (30%) of the Executive's average base salary (with each year's
          base salary determined on an annualized basis, taking into account any
          base salary  adjustments  occurring  during the applicable year) based
          upon the  average  of the  highest  three (3) out of the last five (5)
          years of employment  (including the year in which the Separation  from
          Service  occurs).   Said  benefit  shall  be  paid  in  equal  monthly
          installments  (1/12 of the  annual  benefit)  until  the  death of the
          Executive.

          Notwithstanding the foregoing,  if the Executive is, as of the date of
          his  Separation  from Service,  a "Specified  Employee" (as defined in
          Section 409A), then the retirement  benefits described in this Section
          IV shall  commence  to be paid on the first day of the month that next
          follows  the   six-month   anniversary   of  the  date  the  Executive
          experiences a Separation from Service, or his death, if earlier,  with
          the first payment including all monthly retirement benefits that would
          have been previously paid but for this sentence.

V.       DEATH OF THE EXECUTIVE

          In the  event of the  death of the  Executive,  this  agreement  shall
          terminate and, if applicable,  the Executive's  beneficiary(ies) shall
          be paid a death  benefit  under  the terms of the  Endorsement  Method
          Split Dollar Agreement between the Executive and the Bank and not this
          agreement.

VI.      BENEFIT ACCOUNTING

          The  Bank  shall  account  for  this  benefit  using  GAAP  accounting
          principles.  The Bank shall establish an accrued liability  retirement
          account for the Executive  into which  appropriate  reserves  shall be
          accrued.

VII.     VESTING

          The  Executive  shall be one  hundred  percent  (100%)  vested  in the
          benefits provided herein.

                                       2
<PAGE>

<PAGE>

VIII.    OTHER TERMINATION OF EMPLOYMENT AND DISABILITY

         A. Other Termination of Employment:

               Subject to Subsection  VIII.A(i)  hereinbelow,  in the event that
          the  employment  of the  Executive  shall  terminate  prior to  Normal
          Retirement  Age, as provided in Section  III,  for reasons  other than
          "disability"  (as defined in Section  VIII.B) or Change of Control (as
          defined in Section IX), but  including  by the  Executive's  voluntary
          action or by the Executive's  discharge by the Bank without cause, and
          such termination of employment constitutes a Separation of Service (as
          defined in Section IV), then this agreement  shall  terminate upon the
          date of such  termination  of employment and the Bank shall pay to the
          Executive  as severance  compensation  an amount of money equal to the
          accrued balance of the Executive's  liability  reserve  account.  This
          severance compensation shall be paid in a lump sum no later than 2 1/2
          months   following  the  date  of  the   Executive's   termination  of
          employment.  Notwithstanding the foregoing,  if the Executive is as of
          the date of Separation from Service a "Specified  Employee" (as herein
          defined),  then  payment  under  this  Article  VIII shall not be paid
          earlier than the 183rd day following  the date the Executive  incurs a
          Separation from Service, or his death, if earlier.

          (i)  Discharge  for  Cause:  In  the  event  the  Executive  shall  be
               discharged  for cause at any time, all benefits  provided  herein
               shall be  forfeited.  The term "for cause" shall be as defined in
               the Executive's  Employment  Agreement  between the Executive and
               the Bank in effect at the time of said termination (or if no such
               agreement  exists,  the  Employment  Agreement  most  recently in
               effect between the Bank and the  Executive).  If a dispute arises
               as to discharge  "for  cause," such dispute  shall be resolved by
               arbitration as set forth in this Executive Plan.

         B. Disability:

               In  the  event  the  Executive  becomes  disabled  prior  to  his
          Separation   from   Service  (as  defined  in  Section  IV),  and  the
          Executive's  Separation from Service is on account of such disability,
          the Executive  shall be entitled to receive one hundred percent (100%)
          of the  Executive's  accrued  liability  balance  at the  time of said
          disability.   Except  as  otherwise  provided  herein,   said  accrued
          liability  balance at termination  shall be paid to the Executive in a
          lump  sum no  later  than  2 1/2  months  following  the  date  of the
          Executive's Separation from Service.

          Disability shall be defined in the Executive's Employment Agreement in
          effect at the time of his Separation from Service or, if no Employment
          Agreement  is then in effect,  then as defined in the Bank's long term
          disability policy in effect at the time of said disability. If neither
          definition  exists at the time of  termination  and there is a dispute
          regarding  whether the  Executive is disabled,  such dispute  shall be
          resolved by a physician  selected by the Bank, a physician selected by
          the Executive, and a third physician selected by each of the other two
          (2) physicians.  Such resolution  shall be binding upon all parties to
          this agreement.

                                       3
<PAGE>
               Notwithstanding the foregoing,  if the disability that gives rise
               to the  Executive's  Separation  from  Service does not cause the
               Executive to be  "disabled"  within the meaning of Section  409A,
               and if,  as of the  date of such  Separation  from  Service,  the
               Executive is a "Specified Employee" (as defined in Section 409A),
               then his  disability  benefits  payable  pursuant to this Section
               VIII.B  shall  commence  to be paid on the first day of the month
               that  next  follows  the  six-month  anniversary  of the date the
               Executive  incurs a Separation  from  Service,  or his death,  if
               earlier.

IX.      CHANGE OF CONTROL

          Change of Control  shall be as defined in the  Executive's  Employment
          Agreement  between the Executive and the Bank in effect at the time of
          said Change of Control,  or if no such agreement is then in effect, by
          the regulations of the OTS in 12 CFR ss.574. Upon a Change of Control,
          if the Executive  subsequently  suffers an involuntary  termination of
          service, except for cause, and such termination of service constitutes
          a  Separation  from  Service  (as defined in Section  IV),  or, upon a
          voluntary  termination of service within twelve (12) months after such
          Change of Control, if any of the following events, which have not been
          consented to in advance by the Executive in writing, occur: (i) if the
          Executive would be required to move his personal  residence or perform
          his principal  executive functions more than forty (40) miles from the
          Executive's  primary  office as of the signing of this  agreement,  or
          (ii) if the Bank should fail to maintain Executive's base compensation
          in effect as of the date of the  Change of  Control  and the  existing
          employee  benefits  plans,  including  material  fringe and retirement
          plans,  then the  Executive  shall  receive the benefits in Section IV
          herein upon  attaining  Normal  Retirement  Age (as defined in Section
          III), as if the Executive had been  continuously  employed by the Bank
          until the  Executive's  Normal  Retirement  Age.  Notwithstanding  the
          foregoing,  all sums payable hereunder shall be reduced in such manner
          and to such  extent  so that no such  payments  made  hereunder,  when
          aggregated  with all other payments to be made to the Executive by the
          Bank, shall be deemed an "excess parachute payment" in accordance with
          Section  280G of the code and be subject to the excise tax provided at
          Section 4999(a) of the Code.

          Notwithstanding  the above,  if the Executive is as of the date of his
          Separation  from Service a "Specified  Employee" (as herein  defined),
          then payment  under this Article IX shall not be paid earlier than the
          183rd day following the date the  Executive  incurs a Separation  from
          Service,  or his death,  if  earlier,  with any  payments  not made on
          account  of this  sentence  being  paid  with  the  Executive's  first
          payment.

X.       RESTRICTIONS ON FUNDING

          The Bank shall have no obligation to set aside, earmark or entrust any
          fund or money with which to pay its  obligations  under this Executive
          Plan.  The  Executive,  his  beneficiary(ies),  or  any  successor  in
          interest shall be and remain simply a general  creditor of the Bank in
          the same  manner as any  other  creditor  having a  general  claim for
          matured and unpaid compensation.
                                       4
<PAGE>

          The Bank  reserves  the absolute  right,  at its sole  discretion,  to
          either fund the  obligations  undertaken by this  Executive Plan or to
          refrain from funding the same and to determine the extent,  nature and
          method of such funding.  Should the Bank elect to fund this  Executive
          Plan,  in whole or in part,  through the  purchase of life  insurance,
          mutual funds, disability policies or annuities,  the Bank reserves the
          absolute right, in its sole  discretion,  to terminate such funding at
          any  time,  in whole or in part.  At no time  shall the  Executive  be
          deemed to have any lien,  right,  title or  interest  in any  specific
          funding  investment  or assets of the Bank. No manner of funding shall
          be permitted that would violate Section 409A.

          If the Bank  elects  to  invest  in a life  insurance,  disability  or
          annuity policy on the life of the Executive,  then the Executive shall
          assist the Bank by freely  submitting to a physical exam and supplying
          such  additional  information  necessary  to obtain such  insurance or
          annuities.

XI.      MISCELLANEOUS

          A. Alienability and Assignment Prohibition:

          Neither the Executive,  nor the Executive's  surviving spouse, nor any
          other  beneficiary(ies) under this Executive Plan shall have any power
          or right  to  transfer,  assign,  anticipate,  hypothecate,  mortgage,
          commute,  modify or otherwise  encumber in advance any of the benefits
          payable hereunder nor shall any of said benefits be subject to seizure
          for  the  payment  of  any  debts,  judgments,   alimony  or  separate
          maintenance owed by the Executive or the Executive's beneficiary(ies),
          nor be  transferable  by operation of law in the event of  bankruptcy,
          insolvency or otherwise. In the event the Executive or any beneficiary
          attempts assignment, commutation,  hypothecation, transfer or disposal
          of the benefits  hereunder,  the Bank's  liabilities  shall  forthwith
          cease and terminate.

          B. Binding Obligation of the Bank and any Successor in Interest:

          The Bank shall not merge or  consolidate  into or with another bank or
          sell  substantially  all of its assets to another bank, firm or person
          until such bank,  firm or person  expressly  agrees,  in  writing,  to
          assume and discharge the duties and obligations of the Bank under this
          Executive  Plan. This Executive Plan shall be binding upon the parties
          hereto,   their   successors,   beneficiaries,   heirs  and   personal
          representatives.

          C. Amendment or Revocation:

          It is agreed by and  between  the  parties  hereto  that,  during  the
          lifetime  of the  Executive,  this  Executive  Plan may be  amended or
          revoked  at any time or  times,  in whole  or in part,  by the  mutual
          written  consent of the Executive and the Bank. No amendment  shall be
          permitted  that would  violate,  or cause this  agreement  to violate,
          Section 409A.

                                       5
<PAGE>

          D. Gender:

          Whenever in this  Executive  Plan words are used in the  masculine  or
          neuter  gender,  they shall be read and construed as in the masculine,
          feminine or neuter gender, whenever they should so apply.

          E. Effect on Other Bank Benefit Plans:

          Nothing contained in this Executive Plan shall affect the right of the
          Executive  to  participate  in or  be  covered  by  any  qualified  or
          non-qualified   pension,   profit-sharing,   group,   bonus  or  other
          supplemental  compensation or fringe benefit plan  constituting a part
          of the Bank's existing or future compensation structure.

          F. Headings:

          Headings  and  subheadings  in this  Executive  Plan are  inserted for
          reference and convenience  only and shall not be deemed a part of this
          Executive Plan.

          G. Applicable Law:

          The validity and interpretation of this agreement shall be governed by
          the laws of the State of New Jersey.

          H. 12 U.S.C. ss.1828(k):

          Any payments made to the Executive pursuant to this Executive Plan, or
          otherwise,  are subject to and conditioned  upon their compliance with
          12 U.S.C. ss.1828(k) or any regulations promulgated thereunder.

          I. Partial Invalidity:

          If any term, provision,  covenant, or condition of this Executive Plan
          is determined  by an arbitrator or a court,  as the case may be, to be
          invalid,  void, or unenforceable,  such determination shall not render
          any other term,  provision,  covenant or condition  invalid,  void, or
          unenforceable,  and the Executive  Plan shall remain in full force and
          effect notwithstanding such partial invalidity.

          J. Not a Contract of Employment:

          This  agreement  shall not be  deemed  to  constitute  a  contract  of
          employment  between the parties hereto, nor shall any provision hereof
          restrict the right of the Bank to discharge the Executive, or restrict
          the right of the Executive to terminate employment.

          K. Effective Date:

          The  Effective  Date of this  agreement  shall be the date first above
          written.
                                       6

<PAGE>

XII.     ERISA PROVISION

          A. Named Fiduciary and Plan Administrator:

          The "Named  Fiduciary and Plan  Administrator"  of this Executive Plan
          shall be American  Bank of New  Jersey.  As Named  Fiduciary  and Plan
          Administrator,  the Bank  shall  be  responsible  for the  management,
          control and  administration of the Executive Plan. The Named Fiduciary
          may  delegate  to  others  certain   aspects  of  the  management  and
          operational  responsibilities  of the  Executive  Plan  including  the
          employment  of advisors and the  delegation of  ministerial  duties to
          qualified individuals.

          B. Claims Procedure and Arbitration:

          In the event a dispute  arises over benefits under this Executive Plan
          and  benefits  are not paid to the  Executive  (or to the  Executive's
          beneficiary(ies)  in the  case  of the  Executive's  death)  and  such
          claimants  feel they are  entitled to receive  such  benefits,  then a
          written   claim  must  be  made  to  the  Named   Fiduciary  and  Plan
          Administrator  named  above  within  sixty  (60)  days  from  the date
          payments are refused. The Named Fiduciary and Plan Administrator shall
          review the  written  claim and if the claim is denied,  in whole or in
          part, it shall provide in writing within sixty (60) days of receipt of
          such claim the  specific  reasons for such  denial,  reference  to the
          provisions of this  Executive  Plan upon which the denial is based and
          any additional material or information necessary to perfect the claim.
          Such written notice shall further  indicate the additional steps to be
          taken by claimants if a further review of the claim denial is desired.
          A claim  shall  be  deemed  denied  if the  Named  Fiduciary  and Plan
          Administrator  fail to take any action within the aforesaid  sixty-day
          period.

          If  claimants  desire a second  review  they  shall  notify  the Named
          Fiduciary and Plan  Administrator in writing within sixty (60) days of
          the first claim denial.  Claimants may review this  Executive  Plan or
          any  documents  relating  thereto  and submit any  written  issues and
          comments  they may feel  appropriate.  In their sole  discretion,  the
          Named  Fiduciary and Plan  Administrator  shall then review the second
          claim and provide a written decision within sixty (60) days of receipt
          of such claim. This decision shall likewise state the specific reasons
          for the decision and shall include reference to specific provisions of
          this agreement upon which the decision is based.

          Any  controversy or claim arising out of or relating to this Executive
          Plan, or breach thereof,  shall be settled  exclusively by arbitration
          in accordance  with the rules then in effect of the district office of
          the  American  Arbitration  Association  ("AAA")  nearest  to the home
          office of the  Bank,  and  judgment  upon the  award  rendered  may be
          entered in any court having jurisdiction thereof, except to the extent
          that the  parties  may  otherwise  reach a mutual  settlement  of such
          issue.  The provisions of this Paragraph  shall survive the expiration
          of this Executive Plan.
                                       7
<PAGE>
          Where a dispute  arises as to the Bank's  discharge  of the  Executive
          "for cause," such dispute shall  likewise be submitted to  arbitration
          as above  described  and the parties  hereto  agree to be bound by the
          decision thereunder.

XIII. TERMINATION OR MODIFICATION OF AGREEMENT BY REASON OF CHANGES IN THE LAW,
RULES OR REGULATIONS

     Notwithstanding anything herein above to the contrary, the Bank is entering
     into this  Executive  Plan upon the  assumption  that certain  existing tax
     laws,  rules and regulations will continue in effect in their current form.
     If any said  assumptions  should  change and said change has a  detrimental
     effect  on this  Executive  Plan,  then  the  Bank  reserves  the  right to
     terminate or modify this Executive Plan accordingly. Furthermore, the Board
     has the right to  terminate  or modify  future  accruals  if so  determined
     within the Board's business judgment whether or not this Executive Plan has
     a detrimental effect on the Bank. Upon any said modification or termination
     of the Executive Plan, any benefits  accrued to the  Executive's  liability
     retirement account on the date of said modification or termination shall be
     paid to the Executive in a lump sum, subject to the provisions  below. Upon
     a Change of Control (Section IX), this paragraph shall become null and void
     effective  immediately  upon said  Change of Control.  Notwithstanding  the
     foregoing,  no amendment  shall be made to this  Executive  Plan that would
     violate,  or  cause  the  agreement  to  violate,   Section  409A.  Further
     notwithstanding  the foregoing,  the agreement may not be terminated unless
     all of the  requirements  of Section 409A regarding plan  terminations  are
     satisfied.   Accordingly,  unless  Section  409A  permits  otherwise,  this
     agreement may be terminated only if (a) all  arrangements  sponsored by the
     Bank and any  affiliated  entity  (within the meaning of Section 414(b) and
     414(c))  that are  required  to be  aggregated  with this  agreement  under
     Section 409A are terminated; (b) no payments other than payments that would
     be payable under the terms of the Executive  Plan or an aggregated  plan if
     the  termination  had  not  occurred  are  made  within  12  months  of the
     termination of the arrangements; (c) all payments are made within 24 months
     of the termination of the Executive Plan and related arrangements;  and (d)
     the Bank does not adopt a new  arrangement  that  would be  required  to be
     aggregated  with this  Executive  Plan under  Section 409A if the Executive
     participated in both arrangements, within three years of the termination of
     the agreement.

XIV.     CONFIDENTIAL INFORMATION

     The  Executive  acknowledges  that during his  employment he will learn and
     have access to confidential information regarding the Bank or any affiliate
     and  its  customers  and  businesses  ("Confidential   Information").   The
     Executive  agrees and covenants not to disclose or use for his own benefit,
     or the  benefit  of any  other  person  or  entity,  any such  Confidential
     Information,  unless or until the Bank or any  affiliate  consents  to such
     disclosure  or use or such  information  becomes  common  knowledge  in the
     industry or is otherwise legally in the public domain.  The Executive shall
     not  knowingly   disclose  or  reveal  to  any   unauthorized   person  any
     Confidential Information relating to the Bank or any affiliates,  or to any
     of the businesses  operated by them,  and the Executive  confirms that such
     information   constitutes  the  exclusive  property  of  the  Bank  or  any
     affiliate.  The  Executive  shall not  otherwise  knowingly  act or conduct
     himself (a) to the material detriment of the Bank or its affiliates, or (b)
     in a manner  which is inimical or contrary to the  interests of the Bank or

                                       8
<PAGE>
     any affiliate.  Notwithstanding anything herein to the contrary, failure by
     the  Executive to comply with the  provisions of this Section may result in
     the immediate  termination of the Executive Plan within the sole discretion
     of the Bank,  disciplinary  action against the Executive  taken by the Bank
     and other remedies that may be available in law or in equity.

In witness whereof,  the parties hereto acknowledge that each has carefully read
this Executive Plan and executed the original thereof on the first day set forth
hereinabove, and that, upon execution, each has received a conforming copy.

                                                 AMERICAN BANK OF NEW JERSEY
                                                 Bloomfield, New Jersey

/s/ Kathleen Walsh                       By:      /s/ W. George Parker
--------------------------------                  --------------------
Witness
                                                  Title:   Chairman

/s/ Kathleen Walsh                               /s/ Richard Bzdek
--------------------------------                 ---------------------
Witness                                          Richard Bzdek

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