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                                                                   EXHIBIT 10.30

                      WAIVER, CONSENT AND FOURTH AMENDMENT

                                       TO

                           LOAN AND SECURITY AGREEMENT

            This Waiver,  Consent and Fourth  Amendment to the Loan and Security
Agreement dated as of June 10, 2002 (this "AMENDMENT") is entered into as of the
12th day of March, 2004, by and among DEL GLOBAL  TECHNOLOGIES CORP., a New York
corporation  ("DEL GLOBAL"),  BERTAN HIGH VOLTAGE CORP., a Delaware  corporation
("BERTAN"),  RFI CORPORATION,  a Delaware  corporation  ("RFI"), and DEL MEDICAL
IMAGING CORP., a Delaware  corporation  ("DEL  MEDICAL")  (each a "BORROWER" and
collectively,  the  "Borrowers)  and GENERAL  ELECTRIC  CAPITAL  CORPORATION,  a
Delaware  corporation,  as  successor by  assignment  to  Transamerica  Business
Corporation ("LENDER").

                                   BACKGROUND

            The  Borrowers  and the  Lender are  parties to a Loan and  Security
Agreement  dated as of June 10,  2002 (as  amended,  restated,  supplemented  or
otherwise  modified from time to time, the "Loan  Agreement")  pursuant to which
the Lender provides the Borrowers with certain financial accommodations.

            The  Borrowers  have  requested  that the Lender  (a) waive  certain
Events  of  Default  that  have  occurred  and are  continuing  under  the  Loan
Agreement,  (b) consent to the incurrence of subordinated  Indebtedness  and the
grant of a Lien in the Borrowers'  assets in connection  therewith and (c) amend
the  Loan  Agreement  and  the  Lender  is  willing  to do so on the  terms  and
conditions hereafter set forth.

            NOW, THEREFORE,  in consideration of any loan or advance or grant of
credit  heretofore  or hereafter  made to or for the account of the Borrowers by
the  Lender,  and for other good and  valuable  consideration,  the  receipt and
sufficiency of which are hereby acknowledged, the parties hereto hereby agree as
follows:

            1.  DEFINITIONS.  All capitalized terms not otherwise defined herein
shall have the meanings  given to them in the Loan  Agreement.

            2.  AMENDMENT  TO LOAN  AGREEMENT.  Subject to  satisfaction  of the
conditions  precedent set forth in Section 5 below, the Loan Agreement is hereby
amended as follows:

                (i) Section 1.1 of the Loan Agreement is amended as follows:

                    (a) The  following   defined  terms  are  amended  in  their
entirety to provide as follows:

                    "BASE RATE" means the latest rate for 30-day  dealer  placed
                commercial  paper (which for the purposes hereof shall mean high
                grade unsecured notes sold through dealers by major corporations

                in  multiples  of $1,000),  which  normally is  published in the
                "Money  Rates"  section of The Wall  Street  Journal (or if such
                rate  ceases  to be so  published,  as quoted  from  such  other
                generally  available and  recognizable  source as the Lender may
                select).  The Base Rate shall be determined on the last Business
                Day of each calendar  month for  calculation of interest for the
                following month.

                    "EXPIRATION DATE" means the earlier of (i) December 31, 2004
                and (ii) the date of termination of the Lender's  obligations to
                make Loans or to use its best efforts to cause Letters of Credit
                to be issued pursuant to the terms hereof.

                    "FIXED CHARGE  COVERAGE  RATIO" means,  for any period,  the
                ratio of the following for the Borrowers and their  Subsidiaries
                on a consolidated  basis determined in accordance with GAAP: (a)
                EBITDA for such period less Capital Expenditures for such period
                which  are  not   financed   through  the   incurrence   of  any
                Indebtedness  (excluding  the  Loans)  to  (b)  the  sum  of (i)
                Interest  Expense paid or accrued in respect of any Indebtedness
                during such period,  plus (ii) regularly  scheduled  payments of
                principal  paid or that were  required to be paid on Funded Debt
                (excluding the Loans) during such period plus (iii) dividends or
                other  distributions  paid to  stockholders  during  such period
                except  for the  dividends  or other  distributions  paid to the
                minority  stockholders  of  Villa  Sistemi.

                    (b) The  following  defined  terms  are  inserted  in  their
appropriate alphabetical order:

                    "EBITDA" means, for any period, the Net Income (Loss) of the
                Borrowers and their  Subsidiaries  on a  consolidated  basis for
                such  period,   plus  Interest  Expense,   income  tax  expense,
                amortization  expense,  depreciation  expense and  extraordinary
                losses  and minus  extraordinary  gains,  in each  case,  of the
                Borrowers and their  Subsidiaries  on a  consolidated  basis for
                such period  determined  in  accordance  with GAAP to the extent
                included in the  determination  of such Net Income  (Loss).  The
                fees  payable  by  Borrowers  in  connection   with  the  Fourth
                Amendment shall be excluded in calculating EBITDA.

                    "FOURTH  AMENDMENT"  means the  Waiver,  Consent  and Fourth
                Amendment to Loan and Security  Agreement  dated as of March __,
                2004 by and among the Lender and the Borrowers.

                    "FOURTH  AMENDMENT  EFFECTIVE  DATE" means the date on which
                all  of  the  conditions  precedent  set  forth  in  the  Fourth
                Amendment shall have been satisfied.

                    "FUNDED  DEBT" means,  for any Person,  all of such Person's
                Indebtedness  which by the terms of the  agreement  governing or
                instrument  evidencing such  Indebtedness  matures more than one
                year from, or is directly or indirectly  renewable or extendible
                at the option of such Person under a revolving credit or similar
                agreement obligating the lender or lenders to extend credit over
                a  period  of more  than  one year  from,  the date of  creation

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                thereof,   including  current   maturities  of  long-term  debt,
                revolving credit, and short-term debt extendible beyond one year
                at the option of such Person.

                    "NET INCOME (LOSS)" means with respect to any Person and for
                any period,  the  aggregate  net income (or loss) after taxes of
                such Person for such period, determined in accordance with GAAP.

                    "NET  WORTH"  means  with  respect to any Person and for any
                period, the net worth of such Person for such period, determined
                in accordance with GAAP.

                    "PERFORMANCE FEE" shall mean $500,000.

                    "PERFORMANCE  FEE PAYMENT  DATE" shall mean the  earliest to
                occur  of (i)  the  Expiration  Date  and/or  (ii)  the  date of
                indefeasible  payment or  repayment  in full of all  outstanding
                Loans  and  all  outstanding  Obligations  (whether  such  final
                payment or  prepayment  is made  pursuant  to Section 2.4 or any
                other  provision of this Agreement)  and/or  termination of this
                Agreement.

                    (c) The following defined terms are deleted:

                    "ADJUSTED EARNINGS"

                    "ADJUSTED U.S. EARNINGS"

                    "AVERAGE EXCESS AVAILABILITY"

                    "PRICING INCREMENT"

                    "TANGIBLE NET WORTH"

                (ii) The following  subsection is added after the end of Section
2.2(e):

                    "(f)  Notwithstanding  anything to the contrary contained in
                this Agreement or any other Loan Document,  following the Fourth
                Amendment  Effective  Date,  the  Borrowers  may not request any
                LIBOR Rate Advances,  convert any Base Rate Advance into a LIBOR
                Rate Advance or maintain  any  Borrowing as a LIBOR Rate Advance
                at the end of the  Interest  period for such  Borrowing."

                    (iii)  Section 4.1 is amended in its  entirety to provide as
follows:

                    "SECTION 4.1.  INTEREST.  Commencing  on March 1, 2004,  the
                Borrowers  shall pay to the  Lender  interest  on the  Advances,
                payable  monthly in arrears  of the first  Business  Day of each
                month and on the  Expiration  Date,  at a floating rate equal to
                the Base  Rate plus  three  and  one-half  percent  (3.50%)  per
                annum."

                    (iv)  Section  4.6 is amended in its  entirety to provide as
follows:

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                    "SECTION  4.6.  PERFORMANCE  FEE.  On the  Fourth  Amendment
                Effective Date,  Lender shall have earned the  Performance  Fee.
                The Borrowers  shall pay the Lender the  Performance  Fee on the
                Performance  Fee Payment Date.  Notwithstanding  anything to the
                contrary in this  Agreement,  the terms of this  Section 4.6, if
                not fully  complied  with and  indefeasibly  paid in full by the
                Borrowers,  shall  survive  in  full  the  termination  of  this
                Agreement,  any public  offering of  securities of any Borrower,
                the  Expiration  Date,  an Event of  Default  and/or  payment or
                prepayment in full of any Loan and/or the  Obligations."

                    (v) The  following  subsection  is  added  after  the end of
Section 7.1(v):

                    "(w) DOD  SETTLEMENT.  No later than September 30, 2004, the
                Lender  shall have  received  evidence  that the  United  States
                Government  and  RFI  have  entered  into a  written  settlement
                agreement  with  respect to the  investigation  conducted by the
                Department  of Justice of the United States (the "DOJ") into the
                business  relationship  between the Department of Defense of the
                United States of America ("DOD") and RFI on terms and conditions
                satisfactory to the Lender including, without limitation, (i) an
                agreement  by the  DOJ  to end  its  investigation  of RFI  with
                respect  to  RFI's  business  relationship  with  the DOD and to
                release any claims with respect  thereto and (ii) the payment by
                RFI to the United  States  Government of an amount not to exceed
                $5,000,000.

                    (vi) The  following  subsection  is added  after  the end of
Section 7.2(w):

                    "(x) EXCESS AVAILABILITY.  At all times, after giving effect
                to all  Revolving  Credit Loans and all Letters of Credit issued
                at such  time,  the Excess  Availability  shall not be less than
                $500,000."

                    (vii)  Section 8.1 is amended in its  entirety to provide as
follows:

                           "SECTION 8.1.  Intentionally Omitted."

                    (viii)  Section 8.2 is amended in its entirety to provide as
follows:

                            "SECTION 8.2.  Intentionally Omitted."

                    (ix)  Section  8.3 is amended in its  entirety to provide as
                follows:

                          "SECTION 8.3. Intentionally Omitted."

                     (x)  Section  8.4 is amended in its  entirety to provide as
follows:

                          "SECTION 8.4. FIXED CHARGE COVERAGE  RATIO.  The Fixed
                    Charge  Coverage  Ratio for any period set forth below shall
                    not be less than the ratio set  forth  below  opposite  such
                    period:

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                                                              Minimum Fixed
                            Period                         Charge Coverage Ratio
                            ------                         ---------------------

              February 1, 2004 through April 30, 2004           2.00:1.00

              February 1, 2004 through July 31, 2004            2.00:1.00

              February 1, 2004 through October 31, 2004         1.50:1.00

                    (xi)  Section  8.5 is amended in its  entirety to provide as
follows:

                          "SECTION  8.5.  NET WORTH.  The Net Worth of Borrowers
                    and  their  Subsidiaries  as of the last day of each  fiscal
                    month commencing with the fiscal month ending March 31, 2004
                    shall not be less than $9,500,000."

                    (xii) The addresses for notice to the Lender in Section 11.1
are amended in their entirety to provide as follows:

                          General Electric Capital Corporation
                          201 Merritt 7
                          Norwalk, Connecticut 06856
                          Attention:  Account Manager - Del Global Technologies Corp.
                          Telecopier No.: 203-956-4238
                          Telephone No.: 203-956-4589

            3. CONSENT.  Subject to the satisfaction of the conditions precedent
set forth in Section 5 below,  the Lender  agrees that the  Borrowers may obtain
financing in an amount not to exceed $5,000,000 (the "SUBORDINATED DEBT") from a
financial institution (the "SUBORDINATED LENDER") so long as (a) the proceeds of
such  financing  shall be used  solely  to pay all  amounts  owing by RFI to the
United States  Government  under the  settlement  agreement  between RFI and the
United States Government,  (b) the agreements evidencing such Indebtedness shall
be in a form and  substance  satisfactory  to Lender  and (c) such  Indebtedness
shall be  subordinated  in the right of payment  and  claims,  to the rights and
claims  of  Lender  in  respect  of the  Obligations  on  terms  and  conditions
satisfactory to the Lender, pursuant to a subordination agreement,  satisfactory
in form and substance to Lender. The Borrowers may grant the Subordinated Lender
a Lien  in  their  assets  to  secure  the  Subordinated  Debt  so  long  as the
Subordinated  Lender agrees to subordinate its Lien in the Borrowers'  assets to
the Lender's Lien in the Borrowers'  assets and agrees that it shall exercise no
rights or remedies with respect  thereto  pursuant to an agreement  having terms
and conditions satisfactory to the Lender.

            4. WAIVER.  Subject to the satisfaction of the conditions  precedent
set forth in  Section 5 below,  the Lender  hereby  waives the Events of Default
arising  solely out of the failure by the  Borrowers  to maintain  (a)  Adjusted
Earnings of not less than $4,500,000 for the fiscal period  commencing  February
2, 2003 and ending  January  31,  2004 as  required  by Section  8.1 of the Loan
Agreement, (b) Adjusted U.S. Earnings of not less than $2,775,000 for the fiscal
period  commencing  February 2, 2003 and ending  January 31, 2004 as required by
Section 8.2 of the Loan  Agreement,  (c) a Senior Debt Ratio of not greater than

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1.50 to 1.00 as of the last day of the fiscal quarter ending January 31, 2004 as
required by Section 8.3 of the Loan  Agreement  and (d) a Fixed Charge  Coverage
Ratio of not less than 2.00 to 1.00 for the fiscal period commencing February 2,
2003  and  ending  January  31,  2004 as  required  by  Section  8.4 of the Loan
Agreement.

            5.  CONDITIONS  OF   EFFECTIVENESS.   This  Amendment  shall  become
effective  upon  satisfaction  or waiver in writing by the Lender of each of the
following conditions precedent,  each in form and substance  satisfactory to the
Lender:  (a)  the  Lender's  receipt  of this  Amendment  duly  executed  by the
Borrowers and (b) the Lender's receipt of a non-refundable  fee in the amount of
$100,000 and all  reasonable  attorney's  fees incurred in connection  with this
Amendment,  each of which shall be charged to the  Borrowers'  loan account as a
Loan on the date of this Amendment.

            6.  REPRESENTATIONS  AND WARRANTIES.  The Borrowers hereby represent
and warrant as follows:

                (a) This Amendment and the Loan  Agreement,  as amended  hereby,
constitute  legal,  valid  and  binding  obligations  of the  Borrowers  and are
enforceable against the Borrowers in accordance with their respective terms.

                (b) Upon the  effectiveness  of this  Amendment,  the  Borrowers
hereby reaffirm all covenants,  representations  and warranties made in the Loan
Agreement to the extent the same are not amended  hereby and agree that all such
covenants, representations and warranties shall be deemed to have been remade as
of the effective date of this Amendment.

                (c)  No  Event  of  Default  or  Default  has  occurred  and  is
continuing or would exist after giving effect to this Amendment.

                (d) As of the  date  hereof,  the  Borrowers  have  no  defense,
counterclaim or offset with respect to the Loan Agreement.

            7. EFFECT ON THE LOAN AGREEMENT.

                (a) Upon the  effectiveness of Section 2 hereof,  each reference
in the Loan Agreement to "this Agreement,"  "hereunder,"  "hereof,"  "herein" or
words of like import and each  reference in the other Loan Documents to the Loan
Agreement shall mean and be a reference to the Loan Agreement as amended hereby.

                (b) Except as  specifically  amended or waived herein,  the Loan
Agreement,  and all other documents,  instruments and agreements executed and/or
delivered in connection  therewith,  shall remain in full force and effect,  and
are hereby ratified and confirmed by each of the parties hereto.

                (c)  Except as  specifically  provided  herein,  the  execution,
delivery and  effectiveness  of this Amendment  shall not operate as a waiver of
any  right,  power or  remedy  of the  Lender,  nor  constitute  a waiver of any

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provision  of  the  Loan  Agreement,  or any  other  documents,  instruments  or
agreements executed and/or delivered under or in connection therewith.

            8. GOVERNING LAW. This Amendment  shall be binding upon and inure to
the benefit of the parties  hereto and their  respective  successors and assigns
and shall be governed by and construed in accordance  with the internal laws (as
opposed to the conflicts of law provisions) of the State of Illinois.

            9. HEADINGS.  Section headings in this Amendment are included herein
for  convenience  of  reference  only and  shall not  constitute  a part of this
Amendment for any other purpose.

            10. COUNTERPARTS;  FACSIMILE.  This Amendment may be executed by the
parties  hereto in one or more  counterparts,  each of which  shall be deemed an
original and all of which when taken together shall  constitute one and the same
agreement. Any signature delivered by a party by facsimile transmission shall be
deemed to be an original signature hereto.

                           [Signature Page to Follow]

                                       7

            IN WITNESS WHEREOF,  this Amendment has been duly executed as of the
day and year first written above.

                                    DEL GLOBAL TECHNOLOGIES CORP.

                                    By: /s/ Thomas Gilboy
                                        -----------------------------
                                       Name:   Thomas Gilboy
                                       Title:  Chief Financial Officer

                                    BERTAN HIGH VOLTAGE CORP.

                                    By: /s/ Thomas Gilboy
                                        -----------------------------
                                       Name:  Thomas Gilboy
                                       Title: Chief Financial Officer

                                    RFI CORPORATION

                                    By: /s/ Thomas Gilboy
                                        -----------------------------
                                       Title: Chief Financial Officer

                                    DEL MEDICAL IMAGING CORP.

                                    By: /s/ Thomas Gilboy
                                        -----------------------------
                                       Title: Chief Financial Officer

                                    GENERAL ELECTRIC CAPITAL
                                    CORPORATION

                                    By:/s/ Jeffrey Zinn
                                       ---------------------------------
                                       Name:  Jeffrey Zinn
                                       Title: Duly Authorized SignatoryEXHIBIT 10.18

WARWICK COMMUNITY BANCORP, INC.

SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

FOR FRED G. KOWAL

EFFECTIVE JANUARY 1, 2003

Purpose

            The purpose of the Plan is to provide supplemental retirement benefits to
Mr. Kowal, who contributes materially to the continued growth, development and future business
success of Warwick Community Bancorp, Inc. and its Affiliates.  The Plan shall be unfunded for
tax purposes and for purposes of Title I of ERISA.

ARTICLE 1

Definitions

            For purposes of the Plan, unless otherwise clearly apparent from the context, the
following phrases or terms shall have the following indicated meanings:

"Affiliates" shall mean any entity that, directly or indirectly, through one or more
intermediaries, controls, is controlled by, or is under common control with the Company.

	"Annual Benefit" shall be equal to the percent of the Participant's Final Average
Compensation set forth in the Participant's Plan Agreement times the number of the
Participant's Years of Credited Service set forth in the Participant's Plan Agreement,
calculated through the last day of the month in which the Participant experiences a
Termination of Employment.  The Participant's Annual Benefit shall not exceed any
maximum Annual Benefit set forth in his Plan Agreement, nor be less than any minimum
Annual Benefit set forth in his Plan Agreement.

	"Beneficiary" shall mean one or more persons, estates or other entities, designated in
accordance with the Article 9, that are entitled to receive benefits under the Plan upon the
death of the Participant.

	"Beneficiary Designation Form" shall mean the form established from time to time by the
Committee that the Participant completes, signs and returns to the Committee to
designate one or more Beneficiaries.

	"Board" shall mean the board of directors of the Company.

	"Change of Control" shall have the same meaning as in the Employment Agreement.

	"Claimant" shall have the meaning set forth in Section 13.1.

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	"Code" shall mean the Internal Revenue Code 1986, as it may be amended from time to
time.

	"Committee" shall mean the committee described in Article 11.

	"Company" shall mean Warwick Community Bancorp, Inc.

	"Early Retirement Date" shall mean the later of (i) the date that the Participant elects in
his Plan Agreement to have his Early Retirement Monthly Benefit commence under this
Plan, which date is prior to the Participant's Normal Retirement Date and no earlier than
the date the Participant will attain age 60, and (ii) the date of the Participant's
Termination of Employment.

	"Early Retirement Monthly Benefit" shall mean a monthly amount equal to the
Equivalent Actuarial Value of the Participant's Monthly Benefit (reflecting the
commencement of benefits on the Participant's Early Retirement Date rather than his
Normal Retirement Date).

	"Employment Agreement" means the employment agreement, dated May 1, 2001
between the Company and Fred G. Kowal, as amended.

	"Equivalent Actuarial Value" shall mean, unless otherwise specified in the Plan
Agreement, a benefit of equivalent value to another form of benefit, computed using an
interest rate equal to the annual interest rate on 5-year Treasury securities for the month of
November before the date of determination as specified in the Federal Reserve Board
statistical release, provided that, for any date of determination before January 1, 2006, the
interest rate may not exceed 4%.

	"ERISA" shall mean the Employee Retirement Income Security Act of 1974, as it may be
amended from time to time.

	"Final Average Compensation" shall mean the amount set forth in the Participant's Plan
Agreement.

	"Monthly Benefit" shall mean one twelfth (1/12) of the Participant's Annual Benefit.

	"Normal Retirement Date" shall mean the later of (i) the date of the Participant's
Termination of Employment or (ii) the Participant's attainment of age sixty-two (62).

	"Participant" shall mean Fred G. Kowal, Chairman and Chief Executive Officer of the
Company.  A spouse or former spouse of the Participant shall not be treated as the
Participant in the Plan or have an Annual Benefit under the Plan, even if he or she has an
interest in the Participant's benefits under the Plan as a result of applicable law or
property settlements resulting from legal separation or divorce.

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	"Payout Period" shall mean the number of consecutive months set forth as the Payout
Period in the Participant's Plan Agreement, commencing on the first day of the calendar
month next following the first to occur of the Participant's Normal Retirement Date or
Early Retirement Date (except as otherwise provided in Section 3.3.

	"Plan" shall mean this Supplemental Executive Retirement Plan, which shall be
evidenced by this instrument and by the Plan Agreement, as they may be amended from
time to time.

	"Plan Agreement" shall mean a written agreement, as may be amended from time to time,
which is entered into by and between the Company and the Participant.  Should there be
more than one Plan Agreement, the Plan Agreement bearing the latest date of acceptance
by the Company shall supersede all previous Plan Agreements in their entirety and shall
govern such entitlement.  Any Plan Agreement may limit the benefits otherwise provided
under the Plan.

	"Plan Year" shall mean a period beginning on January 1 of each calendar year and
continuing through December 31 of such calendar year.

	"Termination of Employment" shall mean the severing of employment with the Company
and its Affiliates.

	"Trust" shall mean any trust established between the Company and the trustee named
therein to provide benefits hereunder, as amended from time to time.

	"Years of Credited Service" shall mean the total number of Plan Years (or fraction thereof
determined on a months basis) taken into account under the Participant's Plan Agreement
for purposes of calculating the Participant's Annual Benefit.

ARTICLE 2

Enrollment; Eligibility

	2.1	Enrollment Requirements.  As a condition to participation, the Participant shall
complete, execute and return to the Committee a Plan Agreement and a Beneficiary
Designation Form.  In addition, the Committee shall establish from time to time such
other enrollment requirements as it determines in its sole discretion are necessary or
appropriate.

	2.2	Eligibility; Commencement of Participation.  Provided the Participant has met all
enrollment requirements, including returning all required documents to the Committee,
the Participant shall commence participation in the Plan on the date his Plan Agreement
is executed by the Company.

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	2.3	Termination of Participation.  If the Committee determines in good faith that the
Participant no longer qualifies as a member of a select group of management or highly
compensated employees, as membership in such group is determined in accordance with
Sections 201(2), 301(a)(3) and 401(a)(1) of ERISA, the Committee shall have the right,
in its sole discretion, to (i) cease further benefit accruals hereunder and/or
(ii) immediately distribute the Equivalent Actuarial Value of the Monthly Benefits over
the Payout Period, determined as if the Participant experienced a Termination of
Employment, and terminate the Participant's participation herein.

ARTICLE 3

Benefits

	3.1	Benefits.  Upon the Participant's Normal Retirement Date, the Company shall pay the
Monthly Benefit to him during the Payout Period; provided that, if the Participant's Early
Retirement Date sooner occurs, the Company shall pay the Early Retirement Monthly
Benefit to him during the Payout Period.

	3.2	Effect of Death. 

			(a)	If the Participant dies before a Termination of Employment, he shall be credited
with three additional Years of Credited Service.
	

		(b)	If the Participant dies after he has commenced receiving benefits under
Section 3.1, then any unpaid Monthly Benefits will be paid to the Participant's
designated Beneficiary(ies) over the remainder of the Payout Period.

	3.3	Acceleration of Benefits.  The Committee may accelerate the payment of the
Participant's Monthly Benefits at such time and in such manner as the Committee may
determine, in which case the accelerated benefit shall be equal to the Equivalent Actuarial
Value of such unpaid Monthly Benefits.

	3.4	Tax Withholding from Distributions.  The Company, an Affiliate, or the trustee of the
Trust, if applicable, shall withhold from any payments made to the Participant all federal,
state and local income, employment and other taxes required to be withheld by the
Company, an Affiliate, or the trustee of the Trust, in connection with such payments, in
amounts and in a manner to be determined in the sole discretion of the Company and the
trustee of the Trust, if applicable.

ARTICLE 4

In-Service Withdrawals and Distributions

            No in-service withdrawals or distributions are permitted under the Plan.

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ARTICLE 5

Vesting

            The Participant shall be fully vested in his Monthly Benefit at all times, subject to
forfeiture as provided in the Plan Agreement.

ARTICLE 6

Participant Contributions

            Participant contributions are neither permitted nor required under the Plan.

ARTICLE 7

Funding

	7.1	Funding Generally.  The Company's and its Affiliate's obligations under the Plan shall
be an unfunded and unsecured promise to pay.  The Company and its Affiliates shall not
be obligated under any circumstances to fund in advance its obligations under the Plan,
and when the benefit amount is paid it shall be expensed out of the general assets of the
Company and its Affiliates.

	7.2	Option to Fund Informally.  Notwithstanding Section 7.1, the Company and its
Affiliates may, at its sole option, or by agreement, informally fund its obligations under
the Plan in whole or in part, provided, however, that in no event shall such informal
funding be construed to create any trust fund, escrow account or other security for the
Participant or Beneficiary with respect to the payment of any benefit under the Plan, other
than as permitted by Internal Revenue Service and Department of Labor rules and
regulations for unfunded supplemental retirement plans.

ARTICLE 8

Beneficiary Designation

	8.1	Beneficiary.  The Participant shall have the right, at any time, to designate his
Beneficiary(ies) (both primary as well as contingent) to receive any benefits payable
under the Plan upon his death.  The Beneficiary designated under the Plan may be the
same as or different from the Beneficiary designated under any other plan of the
Company or its Affiliates in which the Participant participates.

	8.2	Beneficiary Designation:  Change; Spousal Consent.  The Participant shall designate
his Beneficiary by completing and signing the Beneficiary Designation Form and
returning it to the Committee.  The Participant shall have the right to change a
Beneficiary by completing, signing and otherwise complying with the terms of the
Beneficiary Designation Form and the Committee's rules and procedures, as in effect
from time to time.  If the Participant names someone other than his spouse as a
Beneficiary, a spousal consent, in the form designated by the Committee, must be signed
by his spouse and returned to the Committee.  Upon the acceptance by the Committee of
a new Beneficiary Designation Form, all Beneficiary designations previously filed shall
be canceled.  The Committee shall be entitled to rely on the last Beneficiary Designation
Form filed by the Participant and accepted by the Committee prior to his death.

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	8.3	Acknowledgment.  No designation or change in designation of a Beneficiary shall be
effective until received and acknowledged in writing by the Committee.

	8.4	No Beneficiary Designation.  If the Participant fails to designate a Beneficiary as
provided in Sections 8.1, 8.2 and 8.3 above or, if all designated Beneficiaries predecease
the Participant or die prior to complete distribution of the Participant's benefits, then the
Participant's designated Beneficiary shall be deemed to be his surviving spouse.  If the
Participant has no surviving spouse, the benefits remaining under the Plan to be paid to a
Beneficiary shall be payable to the Participant's estate.

	8.5	Doubt as to Beneficiary.  If the Committee has any doubt as to the proper Beneficiary to
receive payments pursuant to the Plan, the Committee shall have the right, exercisable in
its discretion, to cause the Company and its Affiliates to withhold such payments until
this matter is resolved to the Committee's satisfaction.

	8.6	Discharge of Obligations.  The payment of benefits under the Plan to a Beneficiary shall
fully and completely discharge the Company and its Affiliates and the Committee from
all further obligations under the Plan with respect to the Participant.

ARTICLE 9

Leave of Absence

            If the Participant is authorized by the Company or its Affiliates for any reason to
take a leave of absence from employment with the Company or its Affiliates, he shall continue to
be considered employed by the Company during such leave of absence (and therefore not to have
experienced a Termination of Employment) and service during the leave of absence shall be
credited for purposes of determining the Participant's Years of Credited Service.

ARTICLE 10

Termination, Amendment or Modification

	10.1	Termination.  Although the Company anticipates that it will continue as a sponsor of the
Plan for an indefinite period of time, there is no guarantee that it

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	 	will continue as a
sponsor of the Plan or will not terminate its sponsorship of the Plan at any time in the
future.  Accordingly, the Company reserves the right to terminate its sponsorship of the
Plan at any time by action of the Board.  Upon termination of sponsorship of the Plan by
the Company, the Annual and Monthly Benefit shall be determined as if the Participant
had experienced a Termination of Employment on the date Plan sponsorship is
terminated.  Monthly Benefits shall be paid as provided in Article 3; however, after a
Change of Control, the Company and its Affiliates shall be required to pay the Equivalent
Actuarial Value of the Monthly Benefits for the Payout Period in a lump sum.  The
termination of sponsorship of the Plan or the termination of the Plan shall not adversely
affect the Participant or Beneficiary who has become entitled to the payment of any
benefits under the Plan as of the date of termination; provided, however, that the
Company shall have the right to accelerate payments without a premium or prepayment
penalty by paying the Equivalent Actuarial Value of the remaining benefits in a lump
sum.

	10.2	Amendment.  The Company may, at any time, amend or modify the Plan in whole or in
part by action of the Board; provided, however, that no amendment or modification shall
be effective to decrease or restrict the value of the Participant's Annual Benefit
determined at the time the amendment or modification is made, calculated as if the
Participant had experienced a Termination of Employment as of the effective date of the
amendment or modification.  The amendment or modification of the Plan shall not affect
the Participant or Beneficiary who has become entitled to the payment of benefits under
the Plan as of the date of the amendment or modification; provided, however, that the
Company or an Affiliate shall have the right to accelerate payments without a premium or
prepayment penalty by paying the Equivalent Actuarial Value of the remaining benefits in
a lump sum.

	10.3	Effect of Payment.  The full payment of the applicable benefit under the Plan shall
completely discharge all obligations to the Participant and his designated Beneficiaries
under the Plan.

	ARTICLE 11

Administration

	11.1	Committee Duties.  The Plan shall be administered by a Committee which shall consist
of the Board, or such committee as the Board shall appoint.  The Committee shall have
the discretion and authority to (i) make, amend, interpret, and enforce all appropriate rules
and regulations for the administration of the Plan and (ii) decide or resolve any and all
questions including interpretations of the Plan, as may arise in connection with the Plan.
When making a determination or calculation, the Committee shall be entitled to rely on
information furnished by the Participant or the Company, but the Participant shall not be
a member of the Committee.

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	11.2	Agents.  In the administration of the Plan, the Committee may, from time to time, employ
agents and delegate to them such administrative duties as it sees fit (including acting
through a duly appointed representative) and may from time to time consult with counsel
who may be counsel to the Company and its Affiliates.

	11.3	Binding Effect of Decisions.  The decision or action of the Committee with respect to
any question arising out of or in connection with the administration, interpretation and
application of the Plan and the rules and regulations promulgated hereunder shall be final
and conclusive and binding upon all persons having any interest in the Plan; provided,
however, that if, after the occurrence of a Change of Control, any dispute, controversy or
claim arises between the Participant and the Company out of or relating to or concerning
the provisions of the Plan, such dispute, controversy or claim shall be finally settled by a
court of competent jurisdiction in the State of New York which, notwithstanding the
provisions of this section or any other provision of the Plan, shall apply a de novo
standard of review to any determination made by the Company, the Board or the
Committee.

	11.4	Indemnity of Committee.  The Company shall indemnify and hold harmless the
members of the Committee, and any person to whom the duties of the Committee may be
delegated, against any and all claims, losses, damages, expenses or liabilities arising from
any action or failure to act with respect to the Plan, except in the case of gross misconduct
by the Committee or any of its members or any such delegate.

	11.5	Information.  To enable the Committee to perform its functions, the Company and its
Affiliates shall supply full and timely information to the Committee as the Committee
may reasonably request.

	ARTICLE 12

Other Benefits and Agreements

	            The benefits provided for the Participant or the Participant's Beneficiary under the
Plan are in addition to any other benefits available to him under any other plan or program
sponsored by the Company or its Affiliates.  The Plan shall supplement and shall not supersede,
modify or amend any other such plan or program except as may otherwise be expressly provided
therein.

	ARTICLE 13

Claims Procedures

	13.1	Presentation of Claim.  The Participant or Beneficiary of the deceased Participant (the
Participant or Beneficiary being referred to below as "Claimant") may deliver to the
Committee a written claim for a determination with respect to the amounts distributable
to such Claimant from the Plan.  If such a claim relates to the contents of a notice
received by the Claimant, the claim must be made within 60 days after such notice was
received by the Claimant.  All other claims must be made within 180 days of the date on
which the event that caused the claim to arise occurred.  The claim must state with
particularity the determination desired by the Claimant.

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	13.2	Notification of Decision.  The Committee shall consider a Claimant's claim within a
reasonable time, and shall notify the Claimant in writing:

		(a)	that the Claimant's requested determination has been made, and that the claim has
been allowed in full; or
		(b)	that the Committee has reached a conclusion contrary, in whole or in part, to the
Claimant's requested determination, and such notice must set forth in a manner
calculated to be understood by the Claimant;

			(i)	the specific reason(s) for the denial of the claim, or any part of it;

			(ii)	specific reference(s) to pertinent provisions of the Plan upon which such
denial was based;

			(iii)	a description of any additional material or information necessary for the
Claimant to perfect the claim, and an explanation of why such material or
information is necessary; and

			(iv)	an explanation of the claim review procedure set forth in Section 13.3
below.

	13.3	Review of a Denied Claim.  Within 60 days after receiving a notice from the Committee
that a claim has been denied, in whole or in part, a Claimant (or the Claimant's duly
authorized representative) may file with the Committee a written request for a review of
the denial of the claim.  Thereafter, but not later than 30 days after the review procedure
began, the Claimant (or the Claimant's duly authorized representative):

			(a)	may review pertinent documents;

			(b)	may submit written comments or other documents; and/or

			(c)	may request a hearing, which the Committee, in its sole discretion, may grant.

	13.4	Decision on Review.  The Committee shall render its decision on review promptly, and
not later than 60 days after the filing of a written request for review of the denial, unless a
hearing is held or other special circumstances require additional time, in which case the
Committee's decision must be rendered within 120 days after such date.  Such decision
must be written in a manner calculated to be understood by the Claimant, and it must
contain:

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			(a)	specific reasons for the decision;

			(b)	specific reference(s) to the pertinent Plan provisions upon which the decision was
based; and

			(c)	such other matters as the Committee deems relevant.

	13.5	Legal Action.  A Claimant's compliance with the foregoing provisions of this Article 13
is a mandatory prerequisite to a Claimant's right to commence any legal action with
respect to any claim for benefits under the Plan.

	ARTICLE 14

Trust

	14.1	Establishment of the Trust.  The Company or its Affiliates may establish the Trust upon
such terms as it deems appropriate.

	14.2	Interrelationship of the Plan and the Trust.  The provisions of the Plan, including the
Participant's Plan Agreement, shall govern his rights to receive distributions pursuant to
the Plan.  The provisions of the Trust shall govern the rights of the Company, its
Affiliates, the Participant and the creditors of the Company and its Affiliates to the assets
transferred to the Trust.  The Company and its Affiliates shall at all times remain liable to
carry out its obligations under the Plan.

	14.3	Investment of Trust Assets.  The trustee of the Trust shall be authorized, upon written
instructions received from the Committee or investment manager appointed by the
Committee, to invest and reinvest the assets of the Trust in accordance with the
applicable trust agreement.

	14.4	Distributions From the Trust.  The Company and its Affiliates' obligations under the
Plan may be satisfied with Trust assets distributed pursuant to the terms of the Trust and
any such distribution shall reduce the Company's and its Affiliates' obligations under the
Plan.

	ARTICLE 15

Miscellaneous

	15.1	Status of Plan.  The Plan intended to be a plan that is not qualified within the meaning of
Code Section 401(a) and that "is unfunded and is maintained by an employer primarily
for the purpose of providing deferred compensation for a select group of management or
highly compensated employees" within the meaning of ERISA Sections 201(2), 301(a)(3)
and 401(a)(1).  The Plan shall be administered and interpreted to the extent possible in a
manner consistent with that intent.

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	15.2	Unsecured General Creditor.  The Participant and his Beneficiaries, heirs, successors
and assigns shall have no legal or equitable rights, interests or claims in any property or
assets of the Company or its Affiliates.  For purposes of the payment of benefits under the
Plan, any and all assets of the Company or its Affiliates shall be, and remain the general,
unpledged and unrestricted assets of such entity.  The Company's and its Affiliates'
obligation under the Plan shall be merely of an unfunded and unsecured promise to pay
money in the future.

	15.3	Liability.  The Company's or its Affiliates' liability for the payment of benefits shall be
defined only by the Plan including the Participant's Plan Agreement.  The Company or its
Affiliates shall have no obligation to the Participant under the Plan except as expressly
provided in the Plan, including the Participant's Plan Agreement.

	15.4	Nonassignability.  Neither the Participant nor any other person shall have any right to
commute, sell, assign, transfer, pledge, anticipate, mortgage or otherwise encumber,
transfer, hypothecate, alienate or convey in advance of actual receipt, the amounts, if any,
payable hereunder, or any part thereof, which are, and all rights to which are expressly
declared to be, unassignable and non-transferable.  No part of the amounts payable shall,
prior to actual payment, be subject to seizure, attachment, garnishment or sequestration
for the payment of any debts, judgments, alimony or separate maintenance allowed by the
Participant or any other person, be transferable by operation of law in the event of the
Participant's or any other person's bankruptcy or insolvency or be transferable to a spouse
as a result of a property settlement or otherwise.

	15.5	Not a Contract of Employment.  The terms and conditions of the Plan, including the
Participant's Plan of Agreement, shall not be deemed to constitute a contract of
employment between the Company or its Affiliates and the Participant.  Nothing in the
Plan shall be deemed to give the Participant the right to be retained in the service of the
Company or its Affiliates or to interfere with the right of the Company or its Affiliates to
discipline or discharge him at any time.

	15.6	Furnishing Information.  The Participant or his Beneficiary will cooperate with the
Committee by furnishing any and all information requested by the Committee and take
such other actions as may be requested in order to facilitate the administration of the Plan
and the payments of benefits hereunder, including but not limited to, taking such physical
examinations as the Committee may deem necessary.

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	15.7	Terms.  Whenever any words are used herein in the masculine, they shall be construed as
though they were in the feminine in all cases where they would so apply; and whenever
any words are used herein in the singular or in the plural, they shall be construed as
though they were used in the plural or the singular, as the case may be, in all cases where
they would so apply.

	15.8	Captions.  The captions of the articles, sections and paragraphs of the Plan are for
convenience only and shall not control or affect the meaning or construction of any of its
provisions.

	15.9	Governing Law.  Subject to ERISA, the provisions of the Plan shall be construed and
interpreted according to the internal laws of the State of New York without regard to its
conflicts of laws and principles.

	15.10	Notice.  Any notice or filing required or permitted to be given to the Committee under the
Plan shall be sufficient if in writing and hand-delivered, or sent by registered or certified
mail, to the address below.

	Board of Directors

Warwick Community Bancorp, Inc.

18 Oakland Avenue

Warwick, New York 10990

		Such notice shall be deemed given as of the date of delivery or, if delivery is made by
mail, as of the date shown on the postmark on the receipt for registration or certification.
Any notice or filing required or permitted to be given to the Participant under the Plan
shall be sufficient if in writing and hand-delivered, or sent by mail, to his last known
address.

	15.11	Successors.  The provisions of the Plan shall bind and inure to the benefit of the
Company or its Affiliates, and their successors and assigns and the Participant and the
Participant's designated Beneficiaries.

	15.12
	Spouse's Interest.  The interest in the benefits hereunder of a spouse of the Participant
who has predeceased the Participant shall automatically pass to the Participant and shall
not be transferable by such spouse in any manner including, but not limited to, such
spouse's will, nor shall such interest pass under the laws of intestate succession.

	15.13	Validity.  In case any provision of the Plan shall be illegal or invalid for any reason, said
illegality or invalidity shall not affect the remaining parts hereof, but the Plan shall be
constructed and enforced as if such illegal or invalid provision had never been inserted
herein.

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

	15.15	Court Order.  The Committee is authorized to make any payments directed by court
order in any action in which the Plan or the Committee has been named as a party.  In
addition, if a court determines that a spouse or former spouse of the Participant has an
interest in the Participant's benefits under the Plan in connection with a property
settlement or otherwise, the Committee, in its sole discretion shall have the right,
notwithstanding any election made by the Participant, to immediately distribute the
spouse's or former spouse's interest in the Participant's benefits under the Plan to that
spouse or former spouse.

	15.16	Distribution in the Event of Taxation.  If, for any reason, all or any portion of the
Participant's benefits under the Plan becomes taxable to the Participant prior to receipt,
the Participant may petition the Committee for a distribution of that portion of his benefit
that has become taxable.  Upon the grant of such a petition, which grant shall not be
unreasonably withheld (and, after a Change of Control, shall be granted), the Company or
an Affiliate shall distribute to the Participant immediately available funds in an amount
equal to the taxable portion of his benefit (which amount shall not exceed the
Participant's Equivalent Actuarial Value of his unpaid remaining benefits).  If the petition
is granted, the tax liability distribution shall be made within 90 days of the date when the
Participant's petition is granted.  Such a distribution shall affect and reduce the benefits to
be paid under the Plan.

	15.17	Insurance  The Company or its Affiliates, on its own behalf or on behalf of the trustee of
the Trust, and, in its sole discretion, may apply for and procure insurance on the life of the
Participant, in such amounts and in such forms as it may choose.  The Company or its
Affiliates or the trustee of the Trust, as the case may be, shall be the sole owner and
beneficiary of any such insurance.  The Participant shall have no interest whatsoever in
any such policy or policies, and the Participant shall at the request of the Company submit
to medical examinations and supply such information and execute such documents as
may be required by the insurance company or companies to whom the Company or its
Affiliates has applied for insurance.

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	15.18	Legal Fees to Enforce Rights After Change of Control.  The Company is aware that
upon the occurrence of a Change of Control, the Board (which might then be comprised
of new members) or stockholders of the Company, its Affiliates, or of any successor
corporation, might then cause or attempt to cause the Company, its Affiliates, or such
successor to refuse to comply with its obligations under the Plan and might cause or
attempt to cause the Company or its Affiliates to institute, or may institute, litigation
seeking to deny the Participant the benefits intended under the Plan.  In these
circumstances, the purpose of the Plan could be frustrated.  Accordingly, if, following a
Change of Control, it should appear to the Participant that the Company, its Affiliates, or
any successor corporation has failed to comply with any of its obligations under the Plan
or any agreement thereunder, or, if the Company, its Affiliates, or any other person takes
any action to declare the Plan void or unenforceable or institutes any litigation or other
legal action designed to deny, diminish or to recover from the Participant the benefits
intended to be provided, then the Company and its Affiliates irrevocably authorize the
Participant to retain counsel of his reasonable choice at the reasonable expense of the
Company or its Affiliates to represent him in connection with the good faith initiation or
defense of any litigation or other legal action, whether by or against the Company, its
Affiliates, or any director, officer, stockholder or other Affiliate of the Company or any
successor thereto in any jurisdiction; provided, however, that in the event a court of
competent jurisdiction in the State of New York determines that the Participant initiated
the litigation frivolously or in bad faith, neither the Company nor its Affiliates will bear
the expense of the Participant's legal fees.

            The Company has signed the Plan as of  _____________, 2003.

		WARWICK COMMUNITY BANCORP, INC.

By:      ____________________________

Name:	____________________________

Title:    ____________________________

14

	December     , 2003

Mr. Fred G. Kowal,

       Rutland Road,
              Glen Rock, NJ  07452.

	Re:	Warwick Community Bancorp, Inc. Supplemental Executive

Retirement Plan Agreement and Beneficiary Designation

Dear Fred:

	            Warwick Community Bancorp, Inc. (the "Company") is the sponsor of the
Warwick Community Bancorp, Inc. Supplemental Executive Retirement Plan (the "Plan"), a
copy of which is attached.  By signing and returning this letter to the Board, the Company and
you hereby agree, for good and valuable consideration, the value of which is hereby
acknowledged, that you participate in the Plan as such Plan is currently in effect and as the same
may hereafter be modified or amended (the "Plan Agreement").  You hereby acknowledge that
you have been provided with a copy of the Plan as currently in effect and specifically agree to the
terms and conditions thereof.  You understand that your receipt of benefits under the Plan shall
be subject to all provisions of the Plan.  All capitalized terms not defined herein shall have the
meanings assigned to them under the Plan.

	            In addition to those set forth in the Plan, the following provisions apply to your
entitlement to benefits under the Plan:

	            1.     For purposes of determining your "Annual Benefit," you shall receive
8.33% of Final Average Compensation for each Year of Credited Service.  Your maximum
Annual Benefit will be $200,000.

	            2.     Your "Final Average Compensation" shall be $200,000.

	            3.     For purposes of determining "Years of Credited Service," you shall be
credited only with (i) Years of Credited Service earned after December 31, 2002 and ending on
the date of your Termination of Employment and (ii) up to three additional Years of Credited
Service that may be credited to you pursuant to Section 3.2(a) of the Plan.

	            4.     The Payout Period shall be 120 consecutive months.

	            5.     The Payout Period may commence on a designated Early Retirement Date
if you provide written notice of your election at least one year before the date you elect to have
your benefits commence.  You acknowledge and understand that (a) no benefit will be paid on an
Early Retirement Date unless this written election is made, and (b) if benefits commence on an
Early Retirement Date, your Early Retirement Monthly Benefit will be smaller than the Monthly
Benefit you would have received had benefits commenced at your Normal Retirement Date, to
reflect the earlier commencement of benefits.

	            6.     You will be fully vested in your Monthly Benefit at all times; however,
notwithstanding the foregoing if you are terminated for "cause" (as defined in Section 10(a) of
your Employment Agreement), you shall forfeit any amounts payable to you under the Plan.  For
the avoidance of doubt, this Plan Agreement in no way affects the benefits to which you are
entitled under your Employment Agreement.

	            Please designate your Beneficiary(ies) on the attached Beneficiary Designation
Form.  You may also provide a schedule of additional primary or contingent beneficiaries, if
necessary.  You acknowledge that you are aware of your right to change such designation by
submitting to the Committee at a subsequent time a new written designation of your primary and
secondary Beneficiaries.  You understand that any Beneficiary designation made subsequent to
the execution of this Plan Agreement must be executed and dated by you and shall become
effective only when receipt thereof is acknowledged in writing by the Committee or the
Company.  You acknowledge that you must designate your spouse as your sole primary
Beneficiary, unless your spouse executes the attached Spousal Consent.

	            You may at any time, upon written request to the Company or the Committee,
obtain a copy of the Plan as then in effect.

		Sincerely yours,

WARWICK COMMUNITY BANCORP, INC.
		 
	 	By:	

	 
	 	Name:	

	 
	 	Title:	

Accepted and Agreed:

                                                                                  

                        Fred G. Kowal

	Date: 	                                             

END

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