Document:

EXHIBIT 10.5

                              CONSULTING AGREEMENT

         This Agreement. made as of this 1st day of January, 2001, between Eagle
Bancorp,  Inc., a Maryland  corporation  (the  "Company")  having its  principal
executive offices at 7815 Woodmont Avenue, Bethesda, Maryland 20814, and Leonard
L. Abel ("Abel"),  an individual  maintaining an office address at 7815 Woodmont
Avenue, Bethesda, Maryland 20814.

         WHEREAS,  Abel has  extensive  business and  organizational  knowledge,
judgment,  skills, acumen, experience and expertise,  particularly in connection
with the conduct of the business of managing and operating banking institutions,
which  knowledge,  judgment,  experience,  acumen  and  expertise  would  be  of
significant  benefit to the Company and its wholly owned  subsidiary,  EagleBank
(the "Bank"); and

         WHEREAS, the Company desires to obtain the benefit of Abel's knowledge,
judgment,  experience, acumen and expertise to a greater extent, and involving a
more  substantial  commitment  of time and  effort,  than  would  ordinarily  be
available  to the Company as a result of Abel's  current  service as Chairman of
the Board of Directors of the Company and member of the Board of the Bank; and

         WHEREAS,  the  Company  desires to  continue  to receive the benefit of
Abel's  services in the future,  and to induce Abel to continue to provide  such
services,  and to retain Abel as a consultant in  accordance  with the terms and
conditions of this Agreement; and

         WHEREAS, Abel desires to be retained by and to continue to provide such
services to the Company. in accordance with such terms and conditions;

         NOW,  THEREFORE,  in  consideration  of the  premises  and  the  mutual
promises  and  covenants   contained   herein,   and  other  good  and  valuable
consideration,  the receipt and sufficiency of which is hereby acknowledged, and
intending to be legally bound hereby, the parties hereto agree as follows:

         1. Consulting  Services.  Abel hereby agrees to provide such consulting
and other relevant services and advice as the Company shall reasonably  request,
in addition to serving as Chairman of the Board of  Directors of the Company and
Board member of the Bank.  Notwithstanding  anything to the  contrary  contained
herein,  Abel's  service  as a  director  of the  Company  and the Bank shall be
subject to his election as such by the shareholders of the Company and the Bank,
as the case may be, and Abel's  service as Chairman of the Board of Directors of
the Company  shall be subject to his  election as such by the Board of Directors
of the Company,  and nothing  contained  herein shall  constitute any agreement,
understanding or commitment of the Company to, nominate,  appoint or elect Abel,
or cause Abel to be nominated  appointed or elected to the Board of Directors of
the Company or the Bank.  The  termination  of Abel's service as Chairman of the
Board of Directors, whether through his failure to be reelected,  declination to
stand for reelection or otherwise,  shall not constitute a breach by Abel of his
obligations  under this  agreement,  or give rise to a right of  termination  by
Company,  so long as Abel is a member of the Board of  directors  of the Company
and/or the Bank.

         2. Term. The initial term of Abel's retention  hereunder shall commence
as of January 1, 2001 and shall  continue  until December 31, 2003 (the "Initial
Term").  Upon each anniversary of the  commencement of the Initial Term,  unless
(i) the consultation  arrangement  contemplated  hereby is earlier terminated in
accordance  with the  provisions  of  Section 6 hereof,  or (ii) Abel shall have
provided  written  notice to the  other  party,  not less than 60 days  prior to
anniversary  date, of 'Abel's desire to terminate this Agreement upon expiration
of the Initial Term or such Renewed Term, as  appropriate,  this Agreement shall
automatically be extended for an additional  period of one year (each a "Renewed
Term").  For example and for  illustrative  purposes  only,  on January 1, 2002,
absent  termination or notice of termination as provided above, the term of this
Agreement shall  automatically be extended for one year, and the Renewed Term of
this  Agreement  shall continue until December 31, 2004, and on January 1, 2003,
absent  termination or notice of termination as provided above, the term of this
Agreement shall  automatically be extended for one year, and the Renewed Term of
this Agreement shall continue until December 31, 2005.

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         3.  Compensation.  As compensation for Abel's services  hereunder,  the
Company  shall pay Abel a fee of $36,000 per year (the  "Compensation").  During
the term of this  Agreement,  and following the  termination  of this  Agreement
during  any  period  where  payments  hereunder  are being made to Abel (or with
respect to which a lump sum  payment  has been made to Abel),  Abel shall not be
entitled to receive any fees, payments or other compensation, whether in cash or
otherwise,  for service as a member  (including as Chairman or Vice Chairman) of
the Board of  Directors  of the  Company,  the Bank or other  subsidiary  of the
Company  or Bank,  if any,  or for  service  on any  committee  of the  Board of
Directors of the Company,  the Bank or other  subsidiary of the Company or Bank,
if  any..  During  the  period  of the  Agreement  periodic  increases  (but not
decreases)  may be  made  by the  Board  of  Directors  of  the  Company  on the
recommendation  of the  Benefits  Committee  of the Company or  comparable  Bank
committee serving such purpose for the Company.  The Compensation  shall be paid
in equal monthly  installments,  or such other  installments  as the Company and
Abel shall agree upon.  Notwithstanding the foregoing,  the Compensation payable
by the Company hereunder in any year shall be reduced by the amount paid to Abel
by the Bank (or any successor  thereto) as compensation for services rendered to
the Bank. The parties hereto  acknowledge and agree that it is anticipated  that
during  the  Initial  Term,  the Bank will pay Abel  $24,000  per year,  but the
failure of the Bank to pay Abel any or all of such amount  shall not relieve the
Company of the obligation to make any payment hereunder.

         4. Benefits and Expenses.

         (a) Abel shall be  entitled  to  participate  in and receive all fringe
benefit  programs and plans,  if any as are generally  available to directors of
the Company and the Bank.

         (b) Abel is authorized to incur reasonable  expenses for conducting and
promoting  the business and  activities  of the Company and the Bank,  including
expenses for travel,  business  entertainment and similar expenses in accordance
with the policies of the Company and the Bank  regarding  the  reimbursement  of
expenses applicable to directors of the Company and the Bank generally,  as such
policies may from time to time exist.

         (c) Abel shall be entitled to the use of his current  office located in
the  building  in which the  principal  executive  offices  of the  Company  are
located,  together with such secretarial and other office support services as he
may reasonably require.

         5.  Outside  Activities.  Abel  shall  devote  his best  efforts to the
performance  of his  duties  hereunder  and  shall  commit  and  make  available
sufficient time to provide the services reasonably  requested by the Company and
the  Bank in a  timely  manner.  However,  nothing  contained  herein  shall  be
construed  to  prohibit  Abel  from  engaging  in any  other  full or  part-time
employment, or any consulting or independent contractor arrangement or any other
occupation,  whether or not for remuneration,  provided,  however,  that no such
outside  activity shall be in competition  with the activities of the Company or
the  Bank,   or  be   otherwise   detrimental   or  adverse  to  the   business,
competitiveness, operations, or image of the Company or the Bank.

         6. Termination.

         (a) This  Agreement may be  terminated  prior to the end of the Initial
Term or any  Renewed  Term,  as  applicable,  by the  Company  under  any of the
following circumstances:

         (i)      Upon the death of Abel;

         (ii) Upon the inability of Abel to perform all of his duties  hereunder
by  reason  of  illness,  physical,  mental  or  emotional  disability  or other
incapacity,  which  inability  shall continue for more than three (3) successive
months or six (6)  months in the  aggregate  during  any  period of twelve  (12)
consecutive months;

         (iii) For cause,  defined  as:  the  failure  of Abel  (other  than for
reasons described in Section 6(a)(ii)) to perform or observe and comply with any
material term or provision of this Agreement;  any significant misconduct on the
part of Abel that is materially  damaging or  detrimental to the Company and the
Bank,  as  determined  by the

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Board of Directors of the Company,  Abel not  participating,  in the exercise of
its good faith  judgment;  conviction  after final appeal of a crime involving a
felony,  fraud,  embezzlement  or the  like;  or any  breach of  fiduciary  duty
involving  personal profit or  misappropriation  of the funds or property of the
Company or the Bank; or

         (iv) Upon the failure of Abel to be  reelected  as a director of either
the Company or the Bank by the  respective  stockholders  of the Company and the
Bank, except following a "Change in Control" (as defined in Section 6(b)) of the
Company or the Bank.

         (b) This  Agreement may be  terminated  prior to the end of the Initial
Term or any Renewal  Term,  as  applicable,  by Abel under any of the  following
circumstances:

                  (i) Upon the  failure  of the  Company  and the Bank to comply
                  with any material term or provision of this Agreement;

                  (ii) Upon the failure of Abel to be reelected or nominated for
                  reelection  as a director of the  Company or the Bank,  or any
                  successor  to the Bank,  following  a Change in Control of the
                  Company or the Bank, and/or the voluntary  resignation of Abel
                  as a director of the  Company and the Bank  following a Change
                  in Control of the Company or the Bank. For purposes  hereof, a
                  "Change in Control"  shall be deemed to occur in the following
                  circumstances:   (1)  upon   consummation   of  a  merger   or
                  consolidation  of the Company or the Bank, or a sale of all or
                  substantially  all of the  assets of the  Company  or the Bank
                  following which the  stockholders  of the Company  immediately
                  preceding such consummation, , in the aggregate, own less than
                  50% of the  aggregate  number of votes  entitled to be cast in
                  the election of directors of the  surviving  entity  resulting
                  from such transaction;  (2) upon any "person" (as that term is
                  used  for  purposes  of  Sections   13(d)  and  14(d)  of  the
                  Securities  Exchange  Act of 1934  (the  "Exchange  Act"))  or
                  persons acting as a "group" (as that term is used for purposes
                  of Section 13(d) of the Exchange Act) or otherwise  "acting in
                  concert"  (as that term is used for  purposes  of the  federal
                  Change in Bank  Control  Act)  becoming the direct or indirect
                  "beneficial  owner"  (as  that  term is used for  purposes  of
                  Section  13(d)  of the  Exchange  Act)  of 51% or  more of the
                  outstanding shares of capital stock of the Company:  or (3) if
                  individuals  who are members of the Board of  Directors of the
                  Company as of the date hereof (the  "Incumbent  Board") cease,
                  for any reason, to constitute at least a majority of the Board
                  of Directors, provided that any person who becomes a member of
                  the Board of  Directors  of the Company and whose  nomination,
                  election or appointment as a director was approved by at least
                  two thirds of the directors comprising the Incumbent Board, or
                  by a  nominating  committee  of the  Board of  Directors,  the
                  membership of which was approved by at least two-thirds of the
                  directors  comprising the Incumbent Board, shall, for purposes
                  of  this  subclause  (3)  be  considered  as a  member  of the
                  Incumbent Board.

         (c)      (i) Upon any termination of this agreement pursuant to Section
                  6(a)(i), 6(a)(ii), 6(a)(iv), 6(b)(i) or 6(b)(ii), Abel, or his
                  estate,  shall be  entitled  to  receive,  in  addition to the
                  Compensation  and any other  amounts due hereunder to the date
                  of such termination,  in a lump sum or in periodic payments in
                  accordance with the provisions hereof, at the election of Abel
                  or his  estate,  an  amount  equal to 2.99  times  the rate of
                  Compensation in effect at the date of termination.

                  (ii)  Upon  any  termination  of this  agreement  pursuant  to
                  Section 6(a)(iii),  Abel shall be entitled to receive only the
                  Compensation  and any other  amounts due hereunder to the date
                  of such termination.

         (d)      Notwithstanding anything in this Agreement to the contrary, if
                  any of the  payments  provided for under this  Agreement  (the
                  "Agreement  Payments"),  together with any other payments that
                  Abel has the right to receive  (such other  payments  together
                  with the  Agreement  Payments  are  referred  to as the "Total
                  Payments"),  would constitute a "parachute payment" as defined
                  in Section 280G(b)(2) of the Internal Revenue Code of 1986, as
                  amended (the "Code") (a  "Parachute  Payment"),  the Agreement
                  Payments shall be reduced by the smallest amount  necessary so
                  that no

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                  portion of such Total Payments would be Parachute Payments. In
                  the event the Company shall make an Agreement  Payment to Abel
                  or his estate that would constitute a Parachute Payment,  Abel
                  or his estate, as applicable, shall return such payment to the
                  Company  (together  with  interest  at the rate  set  forth in
                  Section   1274(b)(2)(B)   of  the  Code).   For   purposes  of
                  determining whether and the extent to which the Total Payments
                  constitute  Parachute  Payments,   no  portion  of  the  Total
                  Payments the receipt of which Abel has  effectively  waived in
                  writing shall be taken into account.

         7. Notice. Each notice, demand, request,  consent,  report, approval or
communication  ("Notice")  which is or may be  required  to be given  under this
Agreement  by any  party to any other  party  shall be in  writing  and given by
telex, telecopy, personal delivery,  receipted delivery service, or by certified
mail, return receipt requested,  prepaid and properly addressed to tile party to
be served at the addresses first set forth above.  Notices shall be effective on
the date  sent via  telex or  telecopy,  the  date  delivered  personally  or by
receipted delivery service,  or three (3) days after the date mailed. Each party
may  designate,  by Notice in writing to the other party, a new address to which
any Notice may thereafter be given, delivered or sent.

         8. Action of the Company. Every decision,  determination,  agreement or
other action required to be taken by the Company,  and every Notice which may or
is required to be given to the Company, shall be taken by or given to, the Board
of Directors of the Company,  or such individual  member or committee of members
as the Board of Directors may designate in writing.

         9.  Waiver of  Breach.  The  waiver by either  party of a breach of any
provision of this  Agreement by the other shall not operate or be construed as a
waiver of any subsequent breach.

         10.  Assignment.  The rights and  obligations of the Company under this
Agreement shall inure to the benefit of and shall be binding upon the successors
and assigns of the Company,  but the rights and obligations of Abel are personal
and may not be  assigned  or  delegated  without  the  Company's  prior  written
consent.

         11. Entire Agreement.  This Agreement  contains the entire agreement of
the parties with respect to tile subject  matter  hereof.  It may not be changed
orally,  but only by an agreement in writing  executed by the party against whom
enforcement  of any waiver,  change,  modification,  extension  or  discharge is
sought.

         12. Applicable Law. This Agreement and all covenants  contained herein,
shall  be  governed  in all  respects,  whether  as to  validity,  construction,
capacity, performance or otherwise, by the laws of the State of Maryland. In the
event any  provision  of this  Agreement  shall be held  invalid by a court with
jurisdiction over the parties to this Agreement, such provision shall be deleted
from  the  Agreement,  which  shall  then be  construed  to give  effect  to the
remaining provisions thereof.

         13.  Paragraph  Headings.  The  paragraph  headings  contained  in this
Agreement are for  convenience  only and in no manner shall be construed as part
of this Agreement.

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         14. Counterparts.  This Agreement may be executed simultaneously in two
or more counterparts, each of which shall be deemed an original but all of which
together shall constitute one and the same instrument.

         IN WITNESS WHEREOF,  the parties have executed this Agreement as of the
day and year first above written.

                                                   Eagle Bancorp, Inc.

                                                   By: _________________________
                                                       Ronald D. Paul, President

                                                   Leonard L. Abel

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

                                       5EXHIBIT 10.6

                              EMPLOYMENT AGREEMENT
                              --------------------

         THIS EMPLOYMENT AGREEMENT  ("Agreement") is made and entered into as of
the 31st day of December, 2000, by and between EagleBank, a Maryland corporation
("Eagle"), and Susan G. Riel ("Riel").

                                     RECITAL
                                     -------

         Eagle  desires to retain Riel as the Senior Vice  President  and Senior
Operations Officer of Eagle and Riel desires to accept such employment, all upon
the terms and conditions hereinafter set forth.

         NOW, THEREFORE,  in consideration of the recital,  the mutual covenants
and agreements herein contained, and other good and valuable consideration,  the
receipt and  sufficiency of which are hereby  acknowledged,  the parties to this
Agreement, intending to be legally bound, agree as follows:

         1.       Certain Definitions.  As used in this Agreement, the following
                  terms have the meanings set forth below:

                  1.1      "Commencement Date" means December 31, 2000.

                  1.2      "Bank  Regulatory   Agency"  means  any  governmental
                  authority, regulatory agency, ministry, department,  statutory
                  corporation,  central bank or other body of the United  States
                  or of any other  country  or of any  state or other  political
                  subdivision of any of them having  jurisdiction  over Eagle or
                  any  transaction  contemplated,  undertaken  or proposed to be
                  undertaken by Eagle, including, but not necessarily be limited
                  to:

                  (a) the Federal  Deposit  Insurance  Corporation  or any other
                  federal or state depository insurance organization or fund;

                  (b)  the  Federal  Reserve  System,  the  Comptroller  of  the
                  Currency, the Maryland Division of Financial Institutions,  or
                  any other federal or state bank  regulatory or  commissioner's
                  office;

                  (c) any Person established,  organized,  owned (in whole or in
                  part) or controlled by any of the foregoing; and

                  (d)  any  predecessor,  successor  or  assignee  of any of the
                  foregoing.

                  1.3      "Board" means the Board of Directors of Eagle.

                  1.4      "Bylaws"  means the Bylaws of Eagle as in effect from
                           time to time.

                  1.5      "EBI"  means   Eagle   Bancorp,   Inc.,   a  Maryland
                           corporation.

                  1.6      "Person"  means any  individual,  firm,  association,
                           partnership,  corporation, limited liability company,
                           group,  governmental  agency or other  authority,  or
                           other organization or entity.

         2.       Employment; Term.
                  ------------------
                  2.1 Position. Eagle hereby employs Riel to serve as the Senior
                  Vice President and Senior Operations Officer of Eagle.

                  2.2 Term.  The term of this  Agreement  and Riel's  employment
                  hereunder  shall  commence  with  the  Commencement  Date  and
                  continue until  December 31, 2003 (the "Term"),  unless sooner
                  terminated   in  accordance   with  the   provisions  of  this
                  Agreement.

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         3.       Duties of Riel.
                  ----------------
                  3.1 Nature and  Substance.  Riel shall report  directly to and
                  shall be under the direction of the Executive  Vice  President
                  and Chief Operating  Officer of Eagle. The specific powers and
                  duties of Riel shall be  established,  determined and modified
                  by and within the discretion of the Board.

                  3.2  Performance  of Services.  Riel agrees to devote her full
                  business time and attention to the  performance  of her duties
                  and responsibilities  under this Agreement,  and shall use her
                  best  efforts  and  discharge  her  duties  to the best of her
                  ability  for and on behalf of Eagle and toward its  successful
                  operation.   Riel  shall  comply  with  all  laws,   statutes,
                  ordinances,  rules and regulations  relating to her employment
                  and duties. During the Term of this Agreement,  Riel shall not
                  at any time or place directly or indirectly engage or agree to
                  engage in any  business  or  practice  related to the  banking
                  business   with  or  for  any  other   Person  to  any  extent
                  whatsoever, other than to the extent required by the terms and
                  conditions of this Agreement.  Riel agrees that while employed
                  by Eagle she will not without the prior written consent of the
                  Board, engage, or obtain a financial or ownership interest, in
                  any  other   business,   employment,   consulting  or  similar
                  arrangement,  or other undertaking (an "Outside  Arrangement")
                  if  such  Outside   Arrangement   would   interfere  with  the
                  satisfactory  performance of Riel's duties to Eagle, present a
                  conflict of interest with Eagle, breach Riel's duty of loyalty
                  or fiduciary  duties to Eagle, or otherwise  conflict with the
                  provisions of this  Agreement;  provided,  however,  that Riel
                  shall not be prevented  from  investing  Riel's assets in such
                  form or manner as would not require  any  services on the part
                  of Riel in the  operation  or the  affairs of the  entities in
                  which such  investments are made and provided such investments
                  do not present a conflict of interest  with Eagle.  Riel shall
                  promptly  notify  the  Board of any  Outside  Arrangement  and
                  provide  Eagle  with  any  written   agreement  in  connection
                  therewith.

         4.       Compensation  Benefits.  As full compensation for all services
                  rendered   pursuant  to  this   Agreement  and  the  covenants
                  contained herein, Eagle shall pay to Riel the following:

                  4.1 Salary.  Beginning on the Commencement Date, Riel shall be
                  paid a  salary  ("Salary")  of One  Hundred  Fifteen  Thousand
                  Dollars  ($115,000.00) on an annualized basis. Eagle shall pay
                  Riel's Salary in equal installments in accordance with Eagle's
                  regular  payroll  periods  as may be set by Eagle from time to
                  time.  Riel's salary shall be further  increased  from time to
                  time  at the  discretion  of the  Board.  Riel  shall  also be
                  entitled to certain  incentive bonus payments as determined by
                  the Board in its sole discretion.

                  4.2  Withholding.  Payments of Salary  shall be subject to the
                  customary  withholding of income and other employment taxes as
                  is required with respect to  compensation  paid by an employer
                  to an employee.

                  4.3  Vacation  and  Leave.  Riel  shall  be  entitled  to such
                  vacation  and leave as may be  provided  for under the current
                  and future leave and vacation  policies of Eagle for executive
                  officers.

                  4.4 Office Space.  Eagle will provide  customary  office space
                  and office support to Riel beginning on the Commencement Date.

                  4.5  Insurance.  Eagle will  provide  Riel with group  health,
                  disability   and  other   insurance  as  Eagle  may  determine
                  appropriate and arrange for all employees of Eagle.

                  4.6 Expenses. Eagle shall promptly upon presentation of proper
                  expense  reports  therefor  reimburse Riel, in accordance with
                  the policies and procedures  established  from time to time by
                  Eagle for its senior  executive  officers,  for all reasonable
                  and  customary  travel  (other than local use of an automobile
                  for which  Riel will be  provided a car  allowance)  and other
                  out-of-pocket  expenses incurred by Riel in the performance of
                  her  duties and  responsibilities  under  this  Agreement  and
                  promoting  the  business  of  Eagle,   including   appropriate
                  membership  fees, dues and the cost of attending  meetings and
                  conventions.

                  4.7 Retirement Plans. Riel shall be entitled to participate in
                  any and all  qualified  pension or other  retirement  plans of
                  Eagle which may be applicable to executive personnel of Eagle.

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<PAGE>

                  4.8 Other  Benefits.  While this Agreement is in effect,  Riel
                  shall be entitled to all other  benefits  that Eagle  provides
                  from time to time to its senior executive officers, including,
                  but not limited to, any stock option plan and other  incentive
                  plans.

                  4.9 Eligibility.  Participation in any health, life, accident,
                  disability,  medical expense or similar  insurance plan or any
                  qualified pension or other retirement plan shall be subject to
                  the terms and  conditions  contained in such plan. All matters
                  of eligibility for benefits under any insurance plans shall be
                  determined in accordance with the provisions of the applicable
                  insurance policy issued by the applicable insurance company.

         5.       Conditions  Subsequent  to Continued  Operation  and Effect of
                  Agreement.
                  --------------------------------------------------------------
                  5.1  Continued  Approval  by Bank  Regulatory  Agencies.  This
                  Agreement  and  all of  its  terms  and  conditions,  and  the
                  continued  operation and effect of this  Agreement and Eagle's
                  continuing  obligations  hereunder,  shall  at  all  times  be
                  subject  to the  continuing  approval  of  any  and  all  Bank
                  Regulatory Agencies whose approval is a necessary prerequisite
                  to the  continued  operation  of  Eagle.  Should  any  term or
                  condition  of  this   Agreement,   upon  review  by  any  Bank
                  Regulatory Agency, be found to violate or not be in compliance
                  with any  then-applicable  statute  or any  rule,  regulation,
                  order or  understanding  promulgated  by any  Bank  Regulatory
                  Agency,  or  should  any  term  or  condition  required  to be
                  included herein by any such Bank Regulatory  Agency be absent,
                  this Agreement may be rescinded and terminated by Eagle if the
                  parties hereto cannot in good faith agree upon such additions,
                  deletions,  or  modifications  as may be deemed  necessary  or
                  appropriate to bring this Agreement into compliance.

         6.       Termination  of  Agreement.  This  Agreement may be terminated
                  prior to expiration of the Term as provided below.

                  6.1      Definition of Cause.  For purposes of this Agreement,
                           "Cause" means:

                           (a)   any   act   of   theft,   fraud,    intentional
                           misrepresentation  or  similar  conduct  by  Riel  in
                           connection  with  or  associated  with  the  services
                           rendered by Riel to Eagle under this Agreement;

                           (b) any failure of this  Agreement to comply with any
                           Bank Regulatory Agency requirement which is not cured
                           in  accordance  with  Section 5.1 within a reasonable
                           period of time after written notice thereof;

                           (c) any Bank  Regulatory  Agency action or proceeding
                           against  Riel as a result of her  negligence,  fraud,
                           malfeasance or misconduct;

                           (d) any of the following  conduct on the part of Riel
                           that  Riel has not  been  corrected  or cured  within
                           thirty (30) days after having received written notice
                           from Eagle detailing and describing such conduct:

                                    (i)      the use of drugs,  alcohol or other
                                             substances  by  Riel  to an  extent
                                             which materially interferes with or
                                             prevents   Riel   from   performing
                                             Riel's duties under this Agreement;

                                    (ii)     failure by or the inability of Riel
                                             to devote full time,  attention and
                                             energy to the performance of Riel's
                                             duties  pursuant to this  Agreement
                                             (other  than by reason of her death
                                             or disability);

                                    (iii)    intentional   material  failure  by
                                             Riel  to  carry  out  the  explicit
                                             lawful and  reasonable  directions,
                                             instructions,    policies,   rules,
                                             regulations  or  decisions  of  the
                                             Board which are consistent with her
                                             position; or

                                    (iv)     willful or  intentional  misconduct
                                             on the part of Riel that results in
                                             substantial  injury to Eagle or any
                                             of  its  parent,   subsidiaries  or
                                             affiliates.

                                       3
<PAGE>

                  6.2 Termination by Eagle.
                      ---------------------

                           6.2.1 For Cause. Eagle shall have the right to cancel
                           and terminate  this  Agreement and Riel's  employment
                           for Cause immediately on written notice,  with Riel's
                           compensation  and benefits  ceasing as of Riel's last
                           day of employment, provided, however, that Riel shall
                           be  entitled  to  benefits  through  the  last day of
                           employment and accrued compensation to that date.

                           6.2.2  Without  Cause.  Eagle shall have the right to
                           cancel  and  terminate   this  Agreement  and  Riel's
                           employment  at any  time on  written  notice  without
                           Cause for any or no reason,  with Riel's compensation
                           and  benefits  ceasing  as  of  Riel's  last  day  of
                           employment, subject to the provisions of Section 6.4.
                           and Article 8.

                  6.3  Termination by Riel.  Riel shall have the right to cancel
                  and terminate this Agreement and her employment at any time on
                  sixty (60) days prior written notice to the Board, with Riel's
                  compensation  and  benefits  ceasing as of Riel's  last day of
                  employment,  provided, however, that Riel shall be entitled to
                  benefits  through  the  last  day of  employment  and  accrued
                  compensation to that date.

                  6.4 Severance. Except as set forth below, if Riel's employment
                  with Eagle is terminated by Eagle or its successors during the
                  Term without Cause,  Eagle shall, for the balance of the Term,
                  continue to pay Riel,  in the manner set forth  below,  Riel's
                  Salary at the rate being  paid as of the date of  termination;
                  provided, however, that Riel shall not be entitled to any such
                  payments of Salary if (i) her  employment is terminated due to
                  her death or long-term  disability,  or (ii) this Agreement is
                  rendered null and void pursuant to Section 5.1, or (iii) there
                  is a Change in  Control  Termination  (as  defined  in Section
                  8.2).  Any Salary due Riel  pursuant to this Section 6.4 shall
                  be paid to Riel in  installments  on the same schedule as Riel
                  was paid  immediately  prior to the date of termination,  each
                  installment  to be the same  amount  Riel would have been paid
                  under this  Agreement if she had not been  terminated.  In the
                  event  Riel  breaches  any  provision  of  Article  7 of  this
                  Agreement,  Riel's  entitlement to any Salary payable pursuant
                  to this Section 6.4, if and to the extent not yet paid,  shall
                  thereupon immediately cease and terminate.

         7.       Confidentiality; Non-Competition; Non-Interference.
                  ---------------------------------------------------

                  7.1  Confidential  Information.  Riel,  during  employment  by
                  Eagle,  will have access to and become  familiar  with various
                  confidential and proprietary information of Eagle, its parent,
                  subsidiaries and/or affiliates and/or relating to the business
                  of  Eagle,   its  parent,   subsidiaries   and/or   affiliates
                  ("Confidential  Information"),  including, but not limited to:
                  business plans;  operating results;  financial  statements and
                  financial information;  contracts;  mailing lists;  purchasing
                  information;   customer  data  (including  lists,   names  and
                  requirements);    feasibility   studies;   personnel   related
                  information (including  compensation,  compensation plans, and
                  staffing    plans);    internal    working    documents    and
                  communications;  and other materials related to the businesses
                  or  activities  of  Eagle,  its  parent,  subsidiaries  and/or
                  affiliates  which is made  available  only to employees with a
                  need to know or which is not generally  made  available to the
                  public.  Failure  to  mark  any  Confidential  Information  as
                  confidential,  proprietary or protected  information shall not
                  affect  its  status  as part of the  Confidential  Information
                  subject to the terms of this Agreement.

                  7.2 Nondisclosure.  Riel hereby covenants and agrees that Riel
                  shall  not at any  time,  directly  or  indirectly,  disclose,
                  divulge, reveal, report, publish, or transfer any Confidential
                  Information to any Person, or use Confidential  Information in
                  any way or for any  purpose,  except as required in the course
                  of Riel's  employment by Eagle. The covenant set forth in this
                  Section  7.2 shall not apply to  information  now known by the
                  public or which becomes  known  generally to the public (other
                  than as a result  of a breach  of this  Article  7 by Riel) or
                  information that is customarily shown or disclosed.

                  7.3  Documents.   All  files,  papers,   records,   documents,
                  compilations,  summaries,  lists, reports,  notes,  databases,
                  tapes,  sketches,  drawings,   memoranda,  and  similar  items
                  (collectively,  "Documents"),  whether  prepared  by Riel,

                                       4
<PAGE>

                  or  otherwise  provided  to or coming into the  possession  of
                  Riel,  that  contain  any  proprietary  information  about  or
                  pertaining  or  relating to Eagle,  its  parent,  subsidiaries
                  and/or    affiliates    and/or   their   businesses    ("Eagle
                  Information")  shall  at  all  times  remain  their  exclusive
                  property. Promptly after a request by Eagle or the termination
                  of Riel's  employment,  Riel shall take reasonable  efforts to
                  (i)  return  to  Eagle  all  Documents  in any  tangible  form
                  (whether originals,  copies or reproductions) and all computer
                  disks   containing   or   embodying   any  Document  or  Eagle
                  Information and (ii) purge and destroy all Documents and Eagle
                  Information in any intangible  form  (including  computerized,
                  digital or other  electronic  format) as may be  requested  in
                  writing by the Chairman of the Board of Eagle,  and Riel shall
                  not  retain  in any  tangible  form any such  Document  or any
                  summary, compilation,  synopsis or abstract of any Document or
                  Eagle Information.

                   7.4     Non-Competition.
                           -----------------

                           7.4.1  Riel  hereby  acknowledges  and  agrees  that,
                           during the course of employment  by Eagle,  Riel will
                           become  familiar  with and involved in all aspects of
                           the business  and  operations  of Eagle.  Riel hereby
                           covenants and agrees that from the Commencement  Date
                           until  the  earlier  to  occur  of (a) the  date  one
                           hundred  eighty  (180) days after  Riel's last day of
                           employment  with Eagle or (b) December 31, 2003, Riel
                           will not at any time (except for Eagle),  directly or
                           indirectly, in any capacity (whether as a proprietor,
                           owner,   agent,   officer,   director,   shareholder,
                           partner,  principal,  member,  employee,  contractor,
                           consultant  or  otherwise)  render any  services to a
                           bank or  savings  and loan or a holding  company of a
                           bank or savings and loan (in any case, a "Bank") with
                           respect to any Bank office,  branch or other facility
                           (in any case,  a "Branch")  that is located  within a
                           thirty-five  (35)  mile  radius  of the  location  of
                           Eagle's  headquarters on the date hereof  (including,
                           without  limitation,  being involved in any manner in
                           the operations of or having any responsibilities with
                           respect to any Branch).

                           7.4.2  This  Section  7.4 shall not apply if prior to
                           December  31,   2003,   there  is  a  (i)  merger  or
                           consolidation  of Eagle  with a third  party in which
                           Eagle is not the survivor, (ii) sale of a controlling
                           interest in Eagle to a third party or (iii) a sale of
                           all or substantially all of the business or assets of
                           Eagle to a third  party,  and this  Agreement  is not
                           assigned  to such  third  party or Riel's  employment
                           hereunder is otherwise terminated by such third party
                           in  connection  with such  merger,  consolidation  or
                           sale.  Further,  mere  ownership  of  less  than  two
                           percent (2%) of the  securities  of any publicly held
                           corporation  shall not constitute a violation of this
                           Section.

                  7.5  Non-Interference.  Riel hereby  covenants and agrees that
                  from the  Commencement  Date until the earlier to occur of (a)
                  the date one hundred  eighty  (180) days after Riel's last day
                  of employment  with Eagle or (b) December 31, 2003,  Riel will
                  not,  directly or indirectly,  for herself or any other Person
                  (whether as a proprietor,  owner,  agent,  officer,  director,
                  shareholder, partner, principal, member, employee, contractor,
                  consultant or any other capacity), induce or attempt to induce
                  any customers,  suppliers,  officers, employees,  contractors,
                  consultants, agents or representatives of, or any other person
                  that has a  business  relationship  with,  Eagle or any of its
                  parent, subsidiaries and affiliates to discontinue,  terminate
                  or reduce the extent of their  relationship  with Eagle and/or
                  any such parent, subsidiary or affiliate or to take any action
                  that would disrupt or otherwise be disadvantageous to any such
                  relationship.

                  7.6  Injunction.  In the event of any breach or  threatened or
                  attempted  breach of any such provision by Riel,  Eagle shall,
                  in addition to and not to the  exclusion  of any other  rights
                  and  remedies  at law or in equity,  be  entitled  to seek and
                  receive  from any  court of  competent  jurisdiction  (i) full
                  temporary  and  permanent   injunctive  relief  enjoining  and
                  restraining  Riel and each and every  other  Person  concerned
                  therein from the continuation of such volatile acts and (ii) a
                  decree for specific  performance of the applicable  provisions
                  of this Agreement,  without being required to furnish any bond
                  or other security.

                  7.7 Reasonableness.
                      ---------------

                           7.7.1  Riel has  carefully  read and  considered  the
                           provisions  of this  Article 7 and,  having  done so,
                           agrees that the restrictions and agreements set forth
                           in this  Article  7 are fair and  reasonable  and are
                           reasonably

                                       5
<PAGE>

                           required for the protection of the interests of Eagle
                           and its business,  shareholders,  directors, officers
                           and   employees.   Riel   further   agrees  that  the
                           restrictions  set  forth in this  Agreement  will not
                           impair or  unreasonably  restrain  Riel's  ability to
                           earn a livelihood.

                           7.7.2 If any court of competent  jurisdiction  should
                           determine  that the  duration,  geographical  area or
                           scope of any provision or  restriction'  set forth in
                           this   Article  7  exceeds  the   maximum   duration,
                           geographic  area  or  scope  that is  reasonable  and
                           enforceable  under  applicable law, the parties agree
                           that said provision shall  automatically  be modified
                           and shall be deemed to extend  only over the  maximum
                           duration,  geographical area and/or scope as to which
                           such provision or restriction  said court  determines
                           to be valid and  enforceable  under  applicable  law,
                           which  determination  the parties direct the court to
                           make,  and the  parties  agree  to be  bound  by such
                           modified provision or restriction.

         8.       Change in Control.
                  -------------------

                  8.1      Definition.  "Change in  Control"  means and shall be
                  deemed to have occurred if:

                  (a) there shall be consummated any  consolidation or merger of
                  EBI  in  which  EBI  is  not  the   continuing   or  surviving
                  corporation or pursuant to which shares of EBI's capital stock
                  are converted  into cash,  securities or other  property other
                  than a consolidation  or merger of EBI in which the holders of
                  EBI's voting stock  immediately  before the  consolidation  or
                  merger  shall,  upon  consummation  of  the  consolidation  or
                  merger,  own at least 50% of the voting stock of the surviving
                  corporation,  or any sale of all or  substantially  all of the
                  assets of EBI;

                  (b) any  person  (within  the  meaning of  Sections  13(d) and
                  14(d)(2) of the  Securities  Exchange Act of 1934,  as amended
                  (the "Exchange Act")) shall after the Commencement Date become
                  the  beneficial  owner  (within the meaning of Rules 13d-3 and
                  13d-5 under the  Exchange  Act),  directly or  indirectly,  of
                  securities of EBI representing fifty-one percent (51%) or more
                  of the voting power of then all outstanding  securities of EBI
                  entitled to vote generally in the election of directors of EBI
                  (including, without limitation, any securities of EBI that any
                  such  person  has  the  right  to  acquire   pursuant  to  any
                  agreement,  or upon exercise of conversion rights, warrants or
                  options,  or  otherwise,  which  shall be deemed  beneficially
                  owned by such person); or

                  (c)  individuals who at the  Commencement  Date constitute the
                  entire Board of Directors of EBI and any new  directors  whose
                  election by the Board of Directors of EBI, or whose nomination
                  for election by EBI's  stockholders,  shall have been approved
                  by a vote of at  least a  majority  of the  directors  then in
                  office who either were directors at the  Commencement  Date or
                  whose  election or nomination  for election shall have been so
                  approved,  shall cease for any reason to constitute at least a
                  majority of the Board of Directors of EBI.

                  8.2      Change in Control  Termination.  For purposes of this
                  Agreement,  a "Change in Control Termination" means that while
                  this Agreement is in effect:

                  (a) Riel's  employment with Eagle is terminated  without Cause
                  within one hundred twenty (120) days  immediately (i) prior to
                  and in conjunction  with a Change in Control or (ii) following
                  consummation of a Change in Control; or

                  (b) Riel is  notified  within one  hundred  twenty  (120) days
                  immediately prior to or immediately following  consummation of
                  a Change  in  Control  that,  as a  result  of the  Change  in
                  Control,  she will not be continued  in a comparable  position
                  (with comparable  compensation and benefits) with Eagle to the
                  position  Riel  holds at the time such  notice is given if the
                  notice  is given  prior to the  Change in  Control  or, if the
                  notice is given  after a Change in  Control,  to the  position
                  Riel held  immediately  prior to the  Change in  Control,  and
                  within  fifteen (15) days after  receiving  such  notification
                  Riel notifies Eagle that she is terminating her employment due
                  to  such  change  in her  employment,  with  her  last  day of
                  employment  to be  mutually  agreed  to by Eagle  and Riel but
                  which shall be not more than sixty (60) days after such notice
                  is given by Riel; or

                                       6
<PAGE>

                  (c) If at the  expiration of the one hundred  twenty (120) day
                  period  immediately  following  consummation  of a  Change  in
                  Control (the "Action  Period") none of the events described in
                  Sections 8.2(a) and 8.2(b) above have occurred,  Riel,  within
                  the thirty (30) day period immediately  following the last day
                  of the Action  Period,  notifies Eagle that she is terminating
                  her employment due to the Change in Control, with her last day
                  of employment  to be mutually  agreed to by Eagle and Riel but
                  which shall be not more than sixty (60) days after such notice
                  is given by Riel.

                  8.3 Change in Control Payment. If there is a Change in Control
                  Termination,  Riel shall be paid a lump-sum  cash payment (the
                  "Change  Payment")  equal to 2.00 times  Riel's  Salary at the
                  highest  rate in effect  during the twelve  (12) month  period
                  immediately preceding her last day of employment,  such Change
                  Payment to be made to Riel within  forty-five  (45) days after
                  her last day of employment.

                  8.4      Adjustment.
                       ----------------

                  (a)   Notwithstanding   anything  in  this  Agreement  to  the
                  contrary,  if the  Determining  Firm (as  defined  in  Section
                  8.4(b))  determines  that any  portion of the  Change  Payment
                  and/or  the   portions,   if  any,   of  other   payments   or
                  distributions in the nature of compensation by Eagle to or for
                  the benefit of Riel (including,  but not limited to, the value
                  of the acceleration in vesting of restricted stock, options or
                  any other  stock-based  compensation)  whether  or not paid or
                  payable or distributed or distributable  pursuant to the terms
                  of this Agreement  (collectively with the Change Payment,  the
                  "Aggregate Payment"), would cause any portion of the Aggregate
                  Payment  to be  subject  to the  excise  tax  imposed  by Code
                  Section 4999 or would be  nondeductible  by Eagle  pursuant to
                  Code Section 280G (such  portion  subject to the excise tax or
                  being nondeductible,  the "Parachute Payment"),  the Aggregate
                  Payment will be reduced, beginning with the Change Payment, to
                  an amount  which will not cause any  portion of the  Aggregate
                  Payment to constitute a Parachute Payment.

                  (b) All determinations  required to be made under this Section
                  8.4, will be made by a reputable  law or accounting  firm (the
                  "Determining  Firm") selected by Eagle.  All fees and expenses
                  of the Determining  Firm will be obligations  solely of Eagle.
                  The determination of the Determining Firm will be binding upon
                  Eagle and Riel.

         9. Assignability.  Riel shall have no right to assign this Agreement or
         any of Riel's  rights or  obligations  hereunder  to  another  party or
         parties.

         10. Governing Law. This Agreement shall be governed by and construed in
         accordance  with  the  laws of the  State  of  Maryland  applicable  to
         contracts executed and to be performed  therein,  without giving to the
         choice of law rules thereof.

         11. Notices.  All notices,  requests,  demands and other communications
         required  to be given or  permitted  to be given  under this  Agreement
         shall be in writing and shall be conclusively deemed to have been given
         (1) when hand  delivered to the other party,  or (2) when received when
         by facsimile at the address a number set forth below, provided however,
         that notices given by facsimile  shall no be effective  unless either a
         duplicate copy of such facsimile notice is promptly given by depositing
         same in a States post office first-class  postage prepaid and addressed
         to the parties as set forth below,  or the receiving  party  delivers a
         written  confirmation of receipt for such notice either by facsimile or
         any other  method  permitted  under this sub  additionally,  any notice
         given by facsimile shall be deemed received on the next business day if
         such  notice is  received  after 5:00 p.m.  (recipient's  time) or on a
         non-business  day); or three (3) business days after the same have been
         deposited  in a United  States post office with  first-class  certified
         mail,  return receipt,  postage prepaid and addressed to the parties as
         set forth  below;  or (4) the next  business  day after  same have been
         deposited  with  a  national   overnight  delivery  service  reasonably
         approved by the parties  (Federal  Express  and DHL  WorldWide  Express
         being deemed approved by the parties),  postage  prepaid,  addressed to
         the  parties  as  set  forth  below  with  next-business-day   delivery
         guaranteed,  provided that the sending party received a confirmation of
         delivery from the delivery service provider. The address of a party set
         forth below may be changed by that party by written notice to the other
         from time to time pursuant to this Article.
<PAGE>

                  To:      Susan G. Riel
                           688 Ridge Road.
                           Mt. Airy,  MD 21771

                                       7
<PAGE>

                  To:      EagleBank
                           C/O Ronald D. Paul
                           7815 Woodmont Ave.
                           Bethesda, MD 20814

                  cc:      Kennedy, Baris & Lundy
                           David Baris
                           4701 Sangamore Road
                           Suite P-15
                           Bethesda, MD 20814

         12. Entire Agreement. This Agreement contains all of the agreements and
         understandings   between  the  parties   hereto  with  respect  to  the
         employment  of Riel by Eagle,  and  supersedes  all  prior  agreements,
         arrangements and  understandings  related to the subject matter hereof.
         No oral  agreements or written  correspondence  shall be held to affect
         the  provisions  hereof.  No  representation,  promise,  inducement  or
         statement  of  intention  has been made by either party that is not set
         forth in this Agreement,  and neither party shall be bound by or liable
         for any alleged  representation,  promise,  inducement  or statement of
         intention not so set forth.

         13.  Headings.  The  Article  and Section  headings  contained  in this
         Agreement  are for  reference  purposes  only and  shall not in any way
         affect the meaning or interpretation of this Agreement.

         14.  Severability.  Should any part of this Agreement for any reason be
         declared or held illegal, invalid or unenforceable,  such determination
         shall not  affect  the  legality,  validity  or  enforceability  of any
         remaining  portion or  provision  of this  Agreement,  which  remaining
         portions  and  provisions  shall  remain in force and effect as if this
         Agreement has been executed with the illegal,  invalid or unenforceable
         portion thereof eliminated.

         15. Amendment:  Waiver. Neither this Agreement nor any provision hereof
         may be amended,  modified,  changed,  waived,  discharged or terminated
         except by an  instrument  in writing  signed by the party against which
         enforcement of the amendment,  modification,  change, waiver, discharge
         or  termination  is sought.  The failure of either party at any time or
         times to require  performance of any provision  hereof shall not in any
         manner  affect the right at a later time to enforce the same. No waiver
         by  either  party of the  breach  of any term,  provision  or  covenant
         contained in this  Agreement,  whether by conduct or otherwise,  in any
         one or more  instances,  shall be  deemed  to be,  or  construed  as, a
         further or  continuing  waiver of any such  breach,  or a waiver of the
         breach of any other  term,  provision  or  covenant  contained  in this
         Agreement.

         16.  Gender  and  Tense.  As  used in this  Agreement,  the  masculine,
         feminine and neuter gender,  and the singular or plural  number,  shall
         each be deemed to include the other or others  whenever  the context so
         indicates.

                                       8
<PAGE>

         17.  Binding  Effect.  This Agreement is and shall be binding upon, and
         inures to the benefit of, Eagle,  its successors and assigns,  and Riel
         and her  heirs,  executors,  administrators,  and  personal  and  legal
         representatives.

         IN WITNESS WHEREOF,  the parties have executed this Agreement as of the
         date first written above.

         EAGLEBANK

         By:   ______________________

         Title: ______________________

         SUSAN G. RIEL

         ----------------------------
         Susan G. Riel

         ----------------------------
         Date

                                       9

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