Document:

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Exhibit 10(f). Senior Management 2002 Change In Control Bonus Program (without
extended benefits)

             SENIOR MANAGEMENT 2002 CHANGE IN CONTROL BONUS PROGRAM

         Admiralty Bancorp, Inc. (the "Company") has implemented a Senior
Management 2002 Change in Control Bonus Program (the "Program") for (Name) (the
Senior Management Employee) that will take effect in the event of a Change in
Control (as hereinafter defined) of Admiralty Bancorp, Inc. or Admiralty Bank.

I.       DEFINITIONS

         a.       Change in Control - A "Change in Control" shall mean:

(1)      a reorganization, merger, consolidation or sale of all or substantially
         all of the assets of the Company, or a similar transaction in which the
         shareholders of the Company prior to such transaction cease owning a
         majority of the voting interests in the resulting entity;

(6)      individuals who constitute the Incumbent Board (as herein defined) of
         the Company cease for any reason to constitute a majority thereof;

(7)      the occurrence of any transaction requiring the approval of the Board
         of Governors of the Federal Reserve System under 12 C.F.R. 225.41 et
         seq., except a transaction by any party owning 10% or more of the
         Company's outstanding stock as of the day hereof; or

(4)      an event of a nature that would be required to be reported in response
         to Item 1 of the current report on Form 8-K, as in effect on the date
         hereof, pursuant to Section 13 or 15(d) of the Securities Exchange Act
         of 1934 (the "Exchange Act"); or

(5)      Without limitation, a change in control shall be deemed to have
         occurred at such time as (i) any "person" (as the term is used in
         Section 13(d) and 14(d) of the Exchange Act) other than the Company is
         or becomes a "beneficial owner" (as defined in Rule 13-d under the
         Exchange Act) directly or indirectly, of securities of the Company
         representing 25% or more of the Company's outstanding securities
         ordinarily having the right to vote at the election of directors,
         excluding any securities purchased by Employer's employee stock
         ownership plan and trust, or any other employee benefit plans
         established by Employer from time to time in determining whether such
         person is the beneficial owner of more than 25% of Employer's
         securities; or

(6)      A proxy statement soliciting proxies from stockholders of the Company
         is disseminated by someone other than the current management of the
         Company, seeking stockholder approval of a plan of reorganization,
         merger or consolidation of the Company 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 property or securities not issued by
         the Company;

(7)      A tender offer is made for 25% or more of the voting securities of the
         Company and the shareholders 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.

For these purposes, "Incumbent Board" means the Board of Directors of the
Company on the date hereof, provided that any person becoming a director
subsequent to the date hereof whose election was approved by a vote of at least
three-quarters of the directors

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comprising the Incumbent Board, or whose nomination for election by members or
stockholders was approved by the same nominating committee serving under an
Incumbent Board, shall be considered as though he were a member of the Incumbent
Board.

         b.       Qualifying Event - A "Qualifying Event" is the event described
                  in Section II of this Program.

         c.       Change in Control Bonus Payment - A "Change in Control Bonus
                  Payment" is the payment made to the Senior Management Employee
                  under Section III below.

II.      QUALIFYING EVENTS

         The following event or action will be a "Qualifying Event": A Change in
Control regardless of whether or not the Senior Management Employee's employment
continues after the Change in Control.

III.     CHANGE IN CONTROL BONUS PAYMENT

         If a Qualifying Event occurs while the Senior Management Employee is
employed by Admiralty Bancorp, Inc. or any of its subsidiaries, the Company
shall (or shall cause the Bank), or its legal successor shall, make a Change in
Control Bonus Payment of $ (Amount) in cash, to the Senior Management Employee.
If the Senior Management Employee becomes subject to the excise tax imposed
under Section 280 G of the Internal Revenue Code, as a result of their
compensation from Admiralty Bancorp, Inc. or its subsidiaries, during the year
in which the Change in Control Bonus Payment is made, an additional sum will be
paid to the Senior Management Employee so that the Senior Management Employee
receives net compensation after deduction of the excise taxes that they would
have received if they had not been subject to the excise tax.

IV.      TIMING OF PAYMENT

         Any Change in Control Payment will be paid in a lump sum, in cash,
simultaneous with the effectiveness of the Change in Control, and will be
subject to all legally mandated withholding (e.g., Federal, State or Local
taxes).

V.       EMPLOYMENT STATUS

         Unless a Senior Management Employee has a written employment contract,
all employment by Admiralty Bancorp, Inc. or its subsidiaries is employment at
will, and either Admiralty Bancorp, Inc. or its subsidiaries or the Senior
Management Employee may terminate the employment relationship at any time and
for any reason. Nothing in the Program changes the Senior Management Employee's
employment status. The Program merely establishes each Senior Management
Employee's right to a Change in Control Bonus Payment should a Qualifying Event
occur.

VI.      INELIGIBILITY FOR "EMPLOYEE SEVERENCE PROGRAM"

         Senior Management employees are ineligible to receive any benefits
under the "Employee Severance Program."

VII.     MISCELLANEOUS PROVISIONS

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         a.       Nonexclusive of Rights. Nothing in the Program shall prevent
                  or limit the Senior Management Employee's continuing or future
                  participation in any benefit, bonus, incentive, retirement or
                  other plan or program provided by Admiralty Bancorp, Inc. or
                  its subsidiaries and for which the Senior Management Employee
                  may qualify, nor shall anything in the Program limit or reduce
                  such rights as any Senior Management Employee may have under
                  any other agreement with, or plan, program, policy or practice
                  of Admiralty Bancorp, Inc. or its subsidiaries. Amounts which
                  are vested benefits or which a Senior Management Employee is
                  otherwise entitled to receive under any agreement with, or
                  plan, program, policy or practice of, Admiralty Bancorp, Inc.
                  or its subsidiaries shall be payable in accordance with such
                  agreement, plan, program, policy or practice, except as
                  explicitly modified by this Program. This Program does not
                  affect the Senior Management Employee's rights or benefits
                  under the Senior Management Change in Control Program.

         b.       Spendthrift Provisions. No Senior Management Employee shall
                  have any transmissible interest in the Program nor shall any
                  Senior Management Employee have any power to anticipate,
                  alienate, dispose of, pledge or encumber the Program, nor
                  shall Admiralty Bancorp, Inc. or its subsidiaries recognize
                  any assignment thereof, either in whole or in part, nor shall
                  the Program be subject to attachment, garnishment, execution
                  following judgment or other legal process.

         c.       Program Administrator. Admiralty Bank shall be the
                  administrator of the Program.

         d.       Type of Program. The Program is a Change in Control pay
                  welfare benefit plan. The Program is not an employee pension
                  benefit plan.

VIII.    LUMP SUM ESCROW DEPOSITS

         In order to assure the availability of funds to make the Senior
Management Change in Control Bonus Payment, the Bank will deposit lump sum
payments in an escrow account pending any anticipated Change in Control. The
funds will be placed in escrow not less than five business days prior to the
anticipated effectiveness of the Change in Control. The funds will remain in the
control of Admiralty Bank and will be distributed to the Senior Management
Employee simultaneous with the Change in Control.

         -------------------------          ---------------------------

         Admiralty Bancorp                  Senior Management Employee

                                       3<PAGE>
Exhibit 10(g) Employment Agreement - Ward Kellogg

                              EMPLOYMENT AGREEMENT

         This AGREEMENT made as of this 23rd day of June 1998 by and among
ADMIRALTY BANK, a Florida state bank with its principal place of business
located at 4400 PGA Boulevard, Palm Beach Gardens, FL 33410 (the "Employer"),
and WARD KELLOGG, an individual residing at 2235 S.W. 11 Place, Boca Raton
Florida 33486 (the "Executive").

                                   WITNESSETH:

         WHEREAS, Employer deems it to be in its best interests to secure and
retain the services of the Executive and the Executive desires to work for
Employer upon the terms and conditions hereinafter set forth;

         NOW, THEREFORE, in consideration of the mutual promises and
undertakings herein contained, the parties hereto, intending to be legally bound
hereby, agree as follows:

         1.       Employment and Term.

                  (a)      Employer hereby employs the Executive as President
and Chief Executive Officer of Employer (collectively, the "Position"),
reporting only to the Board of Directors of Employer and the Executive agrees to
serve in the employ of Employer in the Position.

                  (b)      Employee's service in the Position shall commence on
July 1, 1998 (the "Effective Date"), and continue for a term of three and
one-half (3 1/2) years thereafter (the "Initial Term"), and which, subject to
paragraphs 1(c) and 1(d) hereof, shall upon the termination of the Initial Term
be automatically extended for a new one year period (the "Extension Term"), and
each Extension Term shall, upon its termination, likewise be extended for an
additional one year period.

                  (c)      Employer shall have the right to terminate the
Executive's employment hereunder at any time, but if such termination is not for
"cause", Executive shall be entitled to receive the compensation and benefits
provided for under Section 3(e) hereof. If such termination is for "cause" as
defined below, Executive shall not be entitled to receive any compensation from
and after the date of such termination. For purposes of this Agreement, "cause"
means (i) the Executive's willful and continued failure substantially to perform
the duties of the Position, (ii) fraud, misappropriation or other intentional
material damage to the property or business of Employer, (iii) the Executive's
admission or conviction of, or plea of nolo

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contendere to, any felony that adversely affects Employer's reputation or the
Executive's ability to perform his duties hereunder; (iv) Executive's willful
and continued disregard of any law, rule or regulation (other than traffic
violations or similar offenses) or final cease-and-desist order issued by or
regulatory consent agreement with any banking regulatory agency having
jurisdiction over the Employer; or (v) the poor financial performance of the
Employer in relation to certain designated financial results to be agreed upon
annually by Employer and Employee, and which shall include such measures as
return on average assets ("ROAA"), return on average equity, and the like, and
which shall take into account the performance of the Employer's peer group
institutions.

                  (d)      This Agreement shall terminate upon Executives' death
or his disability, as defined herein. Upon Executives' death or his disability,
the obligation of Employer hereunder to pay Executive the compensation called
for under Section 3 hereof shall terminate, and Employer's only obligation shall
be to pay Executive any and all benefits to which Executive was entitled at the
time of such death or disability under any benefits plans of Employer then in
place. For purposes of this provision, the term "disability" shall mean
permanent and total disability, physical or mental, which, in the reasonable
estimation of the Board of Directors, prohibits Executive from performing the
duties and services required by the Position. Employer acknowledges the
Americans with Disabilities Act and, to the extent legally required, will
provide a reasonable accommodation to the Executive as required under such
statute.

         2.       Duties.

                  (a)      Subject to the ultimate control and discretion of the
Board, the Executive shall serve in the Position and perform all duties and
services of an executive nature commensurate to the Position which the Board may
from time to time reasonably assign to the Executive.

                  (b)      The Executive shall devote all of the Executive's
business time and attention (whether or not during normal business hours) to the
performance of the Executive's duties hereunder and, during the term of the
Executive's employment hereunder, shall not engage in any other business
enterprise (excluding non-profit or charitable organizations) which requires
more than five hours per week of the Executive's personal time or attention,
unless granted the prior permission of the Board. The foregoing shall not
prevent the Executive's purchase, ownership or sale of investment securities or
of any ownership interest in any business, provided that such ownership or
investment constitutes not more than five percent of the outstanding shares of a
corporation whose stock is listed on a national securities exchange or on the
National Association of Securities Dealers Automated Quotation System, or the
Executive's involvement in charitable or community activities, provided that the
time and attention which the Executive devotes to such activities does not
materially interfere with the performance of the Executive's duties hereunder.

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         3.       Compensation.

                  (a)      For all services to be rendered by the Executive
under this Agreement, Employer agrees to pay the Executive a salary of not less
than One Hundred Twenty-Five Thousand and 00/100 Dollars ($125,000.00) per annum
during the term of this Agreement ("Base Compensation"), payable in accordance
with Employer's normal payroll practices as in effect from time to time.
Executive's Base Compensation will be reviewed by the Board in December of each
year of this Agreement to consider appropriate increases, if any based upon the
Employer's performance, inflation, compensation for executives at peer group
institutions and such other factors as the Board may deem appropriate. In
addition to the Base Compensation, Executive shall have the right to earn an
additional cash bonus in an amount determined annually by the Board of Directors
of the Employer based upon the Employer's financial performance. The percentage
of bonus actually earned by Executive shall be the percentage set forth in the
table below and based upon the Employer's return on average assets ("ROAA"):

                                ROAA Bonus Amount

<TABLE>
              <S>                                <C>
              Less than 1.0%                     No Bonus

              1.0% to less than 1.2%               15%

              1.2% to less than 1.5%               30%

              1.5% to less than 1.7%               50%

              1.7% to less that 2.0%               75%

              2.0 % and above                      100%
</TABLE>

         The total available bonus amount for the year ended December 31, 1998,
shall be $25,000 and will be payable to the Executive based upon achievement of
initial goals at the discretion of the Board of Directors. Future available
bonuses will be determined by the Board of Directors of the Employer at the
beginning of each year, based upon, among factors, the Employer's performance
for the prior year and budgeted performance for the current year. Nothing
contained herein shall prevent Employer from paying Executive any additional
bonus which the Board of Directors of Employer shall deem appropriate.

                  (b)      In addition to the compensation provided for under
subparagraph (a) hereof, Executive shall be entitled to receive the following:

                           (i) an automobile allowance of $600 per month.
Executive agrees to comply with all reporting and/or reimbursement obligations
required by Employer pursuant to the applicable tax laws and regulations.

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                           (ii)     hospital, health, medical, dental,
accidental death and disability, long term disability and life insurance of a
type currently provided to and enjoyed by other senior officers of Employer, and
shall be entitled to participate in any other employee benefit or retirement
plans offered by Employer to its employees generally or to its senior
management.

                           (iii)    membership in a country club of his
reasonable choosing for use in business development purposes with Employer to
pay for the bond, if any, required by such country club (and thereby becoming
the record owner of the membership in such country club) and Employer shall pay
all fees associated with such membership, including initiation and annual fees
and all business-related fees and expenses.

                  (c)      In addition to the benefits set forth in paragraph
(a)-(c) above, Executive, upon the Effective Date, shall be entitled to receive
a grant of options to purchase 25,000 shares of the Class B Common Stock of
Admiralty Bancorp, Inc., parent company of the Employer ("Bancorp"). The
Exercise Price of such options shall be the price at which such shares are sold
by Bancorp in its pending initial public offering. Such options shall be subject
to a vesting requirement, with one-quarter of the options becoming exercisable
on December 31, 1998, and one-quarter first becoming exercisable on each
December 31 thereafter, assuming Executive is then employed with Employer. The
Agreement evidencing such grant shall also provide that the vesting of such
options shall be accelerated upon a change in control of Employer. The options
shall have a ten (10) year term, and, to the extent permissible under the
Internal Revenue Code of 1986, as amended, shall constitute "incentive stock
options". Employer shall consider granting Executive substantial additional
options by July 1, 2000 based upon Employer's performance and Executive's
contribution to such performance.

                  (d)      If Employer terminates the Executive's employment
hereunder, other than in accordance with paragraphs 1(c) for "cause" or 1(d)
hereof, at any time during the term of this Agreement, whether during the
Initial Term or any Extension Term, Employer shall continue to pay the Executive
the Base Compensation provided in paragraph 3(a) hereof, in a lump sum as soon
as practicable following the Executive's termination, for the remainder of the
Initial Term (but in no event for less than twenty-four (24) months), and
maintain in effect or pay the equivalent value of the medical and other
insurance benefits, if any, provided Executive hereunder for the remainder of
the Initial Term (but in no event for less than twenty-four (24) months).
Although Executive shall have no duty to mitigate any damages incurred in
connection with his termination by Employer other than in accordance with
paragraphs 1(c) or 1(d) hereunder, in the event Executive obtains new employment
and such new employment provides for hospital, health, medical and life
insurance, and other benefits in a manner substantially similar to the benefits
payable by Employer to Executive hereunder upon the date of his termination,
Employer may permanently terminate any duplicative benefit it is otherwise
obligated to provide.

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         4.       Vacations. The Executive shall be entitled each year to four
(4) weeks of vacation time during which vacation the Executive shall continue to
receive the compensation provided in paragraph 3 hereof. Each vacation shall be
taken by the Executive at such time or times as the Executive reasonably
determines, taking into account Executive's duties as set forth in Section 2
hereof and Employer's business needs at any particular time.

         5.       Expenses. Employer shall promptly reimburse the Executive for
all reasonable expenses paid or incurred by the Executive in connection with his
employment hereunder, upon presentation of expense vouchers or appropriate
documentation therefor reasonably requested by Employer. Employer shall provide
a cellular phone to Executive for business purposes and provide Executive with a
corporate credit card for use in paying business related expenses.

         6.       Change in Control.

                  (a)      Upon the occurrence of a Change in Control (as herein
defined) the Executive shall be entitled to the benefits provided under
paragraph (c).

                  (b)      A "Change in Control" shall mean:

                                    (i) a reorganization, merger, consolidation
                           or sale of all or substantially all of the assets of
                           Bancorp or a similar transaction in which Bancorp is
                           not the resulting entity;

                                    (ii) individuals who constitute the
                           Incumbent Board (as herein defined) of Bancorp cease
                           for any reason to constitute a majority thereof;

                                    (iii) an event of a nature that would be
                           required to be reported in response to Item I of the
                           current report on Form 8-K, as in effect on the date
                           hereof, pursuant to Section 13 or 15(d) of the
                           Securities Exchange Act of 1934 (the "Exchange Act");

                                    (iv) Without limitation, a change in control
                           shall be deemed to have occurred at such time as any
                           "person" (as the term is used in Section 13(d) and
                           14(d) of the Exchange Act), excluding any employee
                           benefit plan or the trustee of any employee benefit
                           plans established by Employer from time to time,
                           becomes after the date hereof a "beneficial owner"
                           (as defined in Rule 139(d) under the Exchange Act)
                           directly or indirectly, of securities of Bancorp
                           representing 25 percent or more of Bancorp's
                           outstanding securities ordinarily having the right to
                           vote at the election of directors;

                                    (v) A tender offer is made for 25 percent or
                           more of the voting securities of Bancorp and the
                           shareholders owning beneficially or of record 25
                           percent or more of the outstanding securities of
                           Bancorp have tendered or offered to sell their shares
                           pursuant to such tender offer and such tendered
                           shares have been accepted by the tender offeror.

                  For these purposes, "Incumbent Board" means the Board of
Directors of Bancorp on the Effective Date, provided that any person becoming a
director subsequent to the Effective Date whose election was approved by a vote
of at least three-quarters of the directors comprising the Incumbent Board, or
whose nomination for election by members or stockholders was approved by the
same nominating committee serving under an Incumbent Board, shall be considered
as though he were a member of the Incumbent Board.

                  (c)      In the event the conditions of paragraph (a) above
are met, Executive shall be entitled to receive his then current Base
Compensation for a period of twenty-four (24) months. Such payments will be made
in a lump sum simultaneous with the change in control. In addition, Employer
shall continue to provide Executive with hospital, health, medical and life
insurance, and any other benefits in effect at the time of such termination
through the end of such period. Executive shall have no duty to mitigate damages
in connection with his termination by Employer or its successor hereunder
without cause. However, in the event Executive obtains new employment and such
new employment provides for hospital, health, medical and life insurance, and
other benefits, in a manner substantially similar to the benefits payable by
Employer to Executive upon the date of such termination, Employer may
permanently terminate the duplicative benefits it is obligated to provide
hereunder.

                  (d)      Amended hereby to include the Senior Management 2002
change in Control Bonus Program terms.

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         7.       Notices. Any notice required or permitted to be given under
this Agreement shall be sufficient, if in writing and if sent by registered or
certified mail to either party hereto at their respective addresses set forth
above. All notices shall be deemed given when mailed.

         8.       Assignability. The services of the Executive hereunder are
personal in nature, and neither this Agreement nor the rights or obligations of
Executive hereunder may be assigned, whether by operation of law or otherwise.
This Agreement shall be binding upon, and inure to the benefit of, Employer and
its successors and assigns. This Agreement shall inure to the benefit of the
Executive's heirs, executors, administrators and other legal representatives.

         9.       Waiver. The waiver by Employer or the Executive of a breach of
any provision of this Agreement by the other shall not operate or be construed
as a waiver of any subsequent or other breach hereof.

         10.      Applicable Law. This Agreement shall be governed by and
construed in accordance with the laws of the State of Florida without giving
effect to principles of conflict of laws.

         11.      Entire Agreement. This Agreement contains the entire agreement
of the parties hereto with respect to the subject matter hereof and may not be
amended, waived, changed, modified or discharged, except by an agreement in
writing signed by the parties hereto.

         IN WITNESS WHEREOF, the parties hereto have executed this Agreement
under their respective hands and seals as of the day and year first above
written.

ATTEST:                                              ADMIRALTY BANK

                                            By:
---------------------------------              ---------------------------------
                                                           Chairman of the Board

                                                              EXECUTIVE
WITNESS:

---------------------------------                -------------------------------
                                                           Ward Kellogg

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