Document:

EXHIBIT 10.6

================================================================================

                                  SCHAWK, INC.

                       ___________________________________

                                 FIRST AMENDMENT
                          Dated as of January 28, 2005

                                       to

                             NOTE PURCHASE AGREEMENT
                          Dated as of December 23, 2003

                       ___________________________________

             Re: $15,000,000 Series 2003-A% Senior Notes, Tranche A,
                              Due December 31, 2013
                                       and
               $10,000,000 Series 2003-A% Senior Notes, Tranche B,
                               Due April 30, 2014
                                       of
                                  Schawk, Inc.

                          DATED AS OF JANUARY 28, 2005

================================================================================

<PAGE>

                        FIRST AMENDMENT TO NOTE AGREEMENT

         THIS FIRST AMENDMENT dated as of January 28, 2005 (the or this "First
Amendment") to the Note Agreement each dated as of December 23, 2003 is between
SCHAWK, INC., a Delaware corporation (the "Company"), and each of the
institutions which is a signatory to this First Amendment (collectively, the
"Noteholders").

                                    RECITALS:

          A. The Company and each of the Noteholders have heretofore entered
into the Note Purchase Agreement dated as of December 23, 2003 (the "Note
Agreement"). The Company has heretofore issued the $15,000,000 Series 2003-A
Senior Notes, Tranche A, Due December 31, 2013 dated December 23, 2003 and the
$10,000,000 Series 2003-A Senior Notes, Tranche B, Due April 30, 2014 dated
April 30, 2004 (collectively, the "Notes") pursuant to the Note Agreement.

          B. The Company and the Noteholders now desire to amend the Note
Agreement in the respects, but only in the respects, hereinafter set forth.

          C. Capitalized terms used herein shall have the respective meanings
ascribed thereto in the Note Agreement unless herein defined or the context
shall otherwise require.

          D. All requirements of law have been fully complied with and all other
acts and things necessary to make this First Amendment a valid, legal and
binding instrument according to its terms for the purposes herein expressed have
been done or performed.

         NOW, THEREFORE, upon the full and complete satisfaction of the
conditions precedent to the effectiveness of this First Amendment set forth in
SS.3.1 hereof, and in consideration of good and valuable consideration the
receipt and sufficiency of which is hereby acknowledged, the Company and the
Noteholders do hereby agree as follows:

SECTION 1. AMENDMENTS.

         Section 1.1. Section 2.3(b) of the Note Agreement shall be and is
hereby amended by adding the words "any other Debt of the Company and" after the
words "in respect of the Bank Credit Agreement and" in clause (i) of this
section.

         Section 1.2. The following shall be added as a new Section 8.7 of the
Note Agreement:

                  "SECTION 8.7. OFFER TO PREPAY NOTES IN THE EVENT OF ASSET
         SALE.

                  (a) Notice of Offer to Prepay Notes From Asset Sale Proceeds.
         The Company will, within sixty days prior to any application of any Net
         Proceeds to prepay or retire Senior Debt of the Company and/or its
         Restricted Subsidiaries pursuant to Section 10.4(2) hereof, give
         written notice of such application to each holder of the Notes.

<PAGE>

Schawk, Inc.                                   First Amendment to Note Agreement

         Such notice shall contain and constitute an offer to prepay the Notes
         as described in Section 8.7(c) and shall be accompanied by the
         certificate described in Section 8.7(f).

                  (b) Notice of Acceptance of Offer under Section 8.7(a). If the
         Company shall at any time receive an acceptance to an offer to prepay
         Notes under Section 8.7(a) from some, but not all, of the holders of
         the Notes, then the Company will, within two Business Days after the
         receipt of such acceptance, give written notice of such acceptance to
         each other holder of the Notes which has notified the Company that it
         requests to receive notices under this Section 8.7(b).

                  (c) Offer to Prepay Notes. The offer to prepay Notes
         contemplated by Section 8.7(c) shall be an offer to prepay, in
         accordance with and subject to this Section 8.7, on the date specified
         in such offer (the "PROPOSED SALE PROCEEDS PREPAYMENT DATE"), a
         principal amount of the Notes of each Series held by each holder (in
         this case only, "holder" in respect of any Note registered in the name
         of a nominee for a disclosed beneficial owner shall mean such
         beneficial owner) that is equal to the product of (x) the total amount
         of such Net Proceeds which is to be used to pay Senior Debt of the
         Company and/or its Restricted Subsidiaries pursuant to Section 10.4(2),
         and (y) a fraction, the numerator of which is the outstanding principal
         amount of the Notes of such Series held by such holder on the Proposed
         Sale Proceeds Prepayment Date and the denominator of which is the
         outstanding principal amount of all Senior Debt on the Proposed Sale
         Proceeds Prepayment Date. Such Proposed Sale Proceeds Prepayment Date
         shall be not less than 30 days after the date of such offer and not
         later than the date upon which any such Net Proceeds will be used to
         pay any other Senior Debt (if the Proposed Sale Proceeds Prepayment
         Date shall not be specified in such offer, the Proposed Sale Proceeds
         Prepayment Date shall be the 30th day after the date of such offer).

                  (d) Rejection; Acceptance. A holder of Notes may accept the
         offer to prepay made pursuant to this Section 8.7 by causing a notice
         of such acceptance to be delivered to the Company prior to the Proposed
         Sale Proceeds Prepayment Date. A failure by a holder of Notes to so
         respond to an offer to prepay made pursuant to this Section 8.7 shall
         be deemed to constitute a rejection of such offer by such holder.

                  (e) Prepayment. Prepayment of the Notes to be prepaid pursuant
         to this Section 8.7 shall be at 100% of the principal amount of such
         Notes, together with interest on such Notes accrued to the date of
         prepayment. The prepayment shall be made on the Proposed Sale Proceeds
         Prepayment Date.

                  (f) Officer's Certificate. Each offer to prepay the Notes
         pursuant to this Section 8.7 shall be accompanied by a certificate,
         executed by a Responsible Officer of the Company and dated the date of
         such offer, specifying (i) the Proposed Sale Proceeds Prepayment Date,
         (ii) that such offer is made pursuant to this Section 8.7, (iii) the
         principal amount of each Note offered to be prepaid, (iv) the interest
         that would be due on each Note offered to be prepaid, accrued to the
         Proposed Sale Proceeds Prepayment Date, (v) that the conditions of this
         Section 8.7 have been fulfilled, and

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Schawk, Inc.                                   First Amendment to Note Agreement

         (vi) in reasonable detail, a description of the property sold, leased
         or otherwise disposed of, the Net Proceeds from such sale, lease or
         other disposition, and the details of the determination of the amount
         of such Net Proceeds to be applied to each Note."

         Section 1.3. Section 9.6 of the Note Agreement shall be and is hereby
amended by adding the words "or which becomes a party to or otherwise
guaranties, any other Debt of the Company" after the words "or otherwise
guarantee, Debt in respect of the Bank Credit Agreement" in Section 9.6 of the
Note Agreement.

         Section 1.4. Section 9.6 of the Note Agreement shall be and is hereby
amended by adding the words "or with respect to such other Debt" after the words
"pursuant to the Bank Credit Agreement" in Section 9.6 of the Note Agreement.

         Section 1.5. Section 9.6 of the Note Agreement shall be and is hereby
amended by adding the following paragraph at the end of Section 9.6 to read as
follows:

                  "Notwithstanding the foregoing, so long as the Intercreditor
                  Agreement shall be in effect and applicable thereto, any
                  Subsidiary that becomes a party to the Bank Credit Agreement
                  solely to borrow loans in Canadian Dollars thereunder shall
                  not be required to enter into the Subsidiary Guaranty and make
                  the foregoing deliveries so long as the outstanding amount of
                  all Debt of such Subsidiary, and any other Subsidiary which is
                  a party to the Bank Credit Agreement as a borrower of loans in
                  Canadian Dollars, does not exceed 105% of the Maximum Canadian
                  Amount (as defined in the Bank Credit Agreement) and any
                  Subsidiary that becomes a party to the Bank Credit Agreement
                  solely to borrow loans in Alternate Currencies (as defined in
                  the Bank Credit Agreement) other than Canadian Dollars
                  thereunder shall not be required to enter into the Subsidiary
                  Guaranty and make the foregoing deliveries so long as the
                  outstanding United States Dollar equivalent amount of all Debt
                  of such Subsidiary, and any other Subsidiary which is a party
                  to the Bank Credit Agreement as a borrower of loans in such
                  Alternate Currencies, does not exceed 105% of the Maximum
                  Eurocurrency Amount (as defined in the Bank Credit Agreement).
                  If at any time there are loans outstanding under the Bank
                  Credit Agreement in Canadian Dollars or Alternate Currencies
                  to Subsidiaries that are not Subsidiary Guarantors and are not
                  excepted under the preceding sentence, an Event of Default
                  shall exist without any notice or the expiration of the 30 day
                  period provided for in Section 11(d)."

         Section 1.6. Section 10.1 of the Note Agreement shall be and is hereby
amended in its entirety to read as follows:

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Schawk, Inc.                                   First Amendment to Note Agreement

                  "SECTION 10.1. CONSOLIDATED NET WORTH. The Company will not,
         at any time, permit Consolidated Net Worth to be less than the sum of
         (a) $187,200,000, plus (b) 25% of Consolidated Net Income (but only if
         a positive number) for each fiscal quarter, beginning with the fiscal
         quarter ending March 31, 2005, ended on or before the date of
         determination of compliance with this covenant, plus (c) the aggregate
         amount of Net Proceeds received by the Company subsequent to January
         28, 2005 from the sale or other issuance of any capital stock of the
         Company."

         Section 1.7. Section 10.2(a) of the Note Agreement shall be and is
hereby amended by adding the phrase "Consolidated EBITDA to be" at the beginning
of the parenthetical in Section 10.2(a).

         Section 1.8. Section 10.2(b) of the Note Agreement shall be and is
hereby amended in its entirety to read as follows:

                  "(b) Priority Debt. The Company will not, at any time, permit
         the aggregate amount of all Priority Debt to exceed 15% of Consolidated
         Total Capitalization (Consolidated Total Capitalization to be
         determined as of the end of the then most recently ended fiscal quarter
         of the Company) other than Priority Debt consisting of (i) unsecured
         guaranties by Subsidiary Guarantors of Debt of Company, which Debt when
         incurred by Company did not result in a violation of Section 10.2(a)
         and the Subsidiary Guaranty shall be in effect or (ii) Debt of the
         Company under the Bank Agreement, evidenced by the 2005 Notes or the
         1995 Notes, or constituting Hedging Obligations (as defined in the Bank
         Credit Agreement) owed to a Bank Lender or an Affiliate thereof, and
         guaranties by Subsidiary Guarantors of such Debt, but only if the
         Subsidiary Guaranty shall be in effect, secured by security interests
         in Capital Stock of Foreign Incorporated Subsidiaries granted to the
         Collateral Agent, but only if the Intercreditor Agreement shall be in
         effect and applicable thereto."

         Section 1.9. Section 10.3 of the Note Agreement shall be and is hereby
amended by adding the words "and subject to an intercreditor agreement
reasonably satisfactory to the Required Holder(s) among the holders of the Notes
and the holders of such other obligations," after the words "an agreement
reasonably satisfactory to the Required Holders" of the first paragraph of
Section 10.3 of the Note Agreement.

        Section 1.10. Section 10.3(j) of the Note Agreement shall be and is
hereby amended by adding the words " and (2) except as otherwise provided in
Section 10.2, no such Lien shall secure any Debt outstanding under the Bank
Credit Agreement" at the end of such Section 10.3(j).

        Section 1.11. Subparagraph (2) of Section 10.4 of the Note Agreement
shall be and is hereby amended in its entirety to read as follows:

                  "(2) to prepay or retire Senior Debt of the Company and/or its
         Restricted Subsidiaries, provided that the Company shall comply with
         the provisions of Section 8.7 hereof."

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Schawk, Inc.                                   First Amendment to Note Agreement

        Section 1.12. Section 10.4 of the Note Agreement shall be and is hereby
amended by amending and restating the last paragraph of Section 10.4 in its
entirety to read as follows:

                  As used in this Section 10.4, a sale, lease or other
                  disposition of assets shall be deemed to be a "substantial
                  part" of the assets of the Company and its Restricted
                  Subsidiaries if either (x) the book value of such assets, when
                  added to the book value of all other assets sold, leased or
                  otherwise disposed of by the Company and its Restricted
                  Subsidiaries during the period of 12 consecutive months ending
                  on the date of such sale, lease or other disposition, exceeds
                  15% of the book value of Consolidated Total Assets, determined
                  as of the end of the fiscal quarter immediately preceding such
                  sale, lease or other disposition or (y) the book value of such
                  assets, when added to the book value of all other assets sold,
                  leased or otherwise disposed of by the Company and its
                  Restricted Subsidiaries during the period of 36 consecutive
                  months ending on the date of such sale, lease or other
                  disposition, exceeds 30% of the book value of Consolidated
                  Total Assets, determined as of the end of the fiscal quarter
                  immediately preceding such sale, lease or other disposition;
                  provided that there shall be excluded from any determination
                  of a "substantial part" any (i) sale or disposition of assets
                  in the ordinary course of business of the Company and its
                  Restricted Subsidiaries and (ii) any transfer of assets from
                  the Company to any Restricted Subsidiary or from any
                  Restricted Subsidiary to the Company or a Restricted
                  Subsidiary. For the avoidance of doubt, any sale, lease or
                  other dispositions of property by the Company or any
                  Restricted Subsidiary to an Unrestricted Subsidiary shall not
                  be excluded from any determination of a "substantial part" and
                  the Company will not, and will not permit any of its
                  Restricted Subsidiaries to, make a sale, lease or other
                  disposition of property to an Unrestricted Subsidiary except
                  in exchange for consideration having a Fair Market Value at
                  least equal to the Fair Market Value of the property sold,
                  leased or otherwise disposed of.

        Section 1.13. Section 10.5(1) of the Note Agreement shall be and is
hereby amended by adding the words "(and, if such conveyance, transfer or lease
constitutes a conveyance, transfer or lease of substantially all of the
consolidated assets of the Company, in compliance with the provisions of clause
(2) of this Section 10.5)" after the words "the provision of Section 10.4 " at
the end of clause (y) of Section 10.5(1) of the Note Agreement.

         Section 1.14. The following shall be added as a new Section 10.8 and a
new Section 10.9 respectively of the Note Agreement:

                  "SECTION 10.8. RESTRICTED PAYMENTS. The Company will not, and
         will not permit any of its Restricted Subsidiaries to, declare or make,
         or incur any liability to declare or

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Schawk, Inc.                                   First Amendment to Note Agreement

         make, any Restricted Payment, if, at the time such Restricted Payment
         is declared or made, or after giving effect thereto, a Default or an
         Event of Default exists.

                  SECTION 10.9. SHARE REPURCHASE OBLIGATIONS. The Company will
         not, and will not permit any of its Restricted Subsidiaries to, enter
         into any agreement requiring it to, or otherwise become obligated to,
         repurchase any shares of the Company's capital stock issued in
         connection with the Seven Worldwide Acquisition except repurchases (i)
         which do not exceed, in the aggregate for any fiscal year, $10,000,000,
         and (ii) are made at a time when no Default of Event of Default exists
         or would exist after giving effect thereto."

        Section 1.15. Section 11(i) of the Note Agreement shall be and is hereby
amended by deleting the all references in Section 11(i) to the term "Material
Restricted Subsidiary" and replacing all of them with the term "Material
Subsidiaries" in Section 11(i) of the Note Agreement.

        Section 1.16. The following Defined Terms in Schedule B to the Note
Agreement shall be and is hereby amended as follows:

        The definition of "Consolidated Net Income" shall be and is hereby
amended by deleting the words "provided that any charges related to the
impairment of goodwill or other intangibles as required under SFAS No. 142 shall
be excluded from the calculation of Consolidated Net Income" after the words "in
accordance with GAAP consistently applied";

        The definition of "Consolidated Net Worth" shall be and is hereby
amended by deleting the words "less the sum of (i) minority interests and (ii)
Restricted Investments in excess of 10% of stockholders' equity of the Company
and its Restricted Subsidiaries, provided that, for purposes of any
determination of Consolidated Net Worth, charges related to the impairment of
goodwill or other intangibles as required under SFAS No. 142 shall be excluded
from Consolidated Net Worth" after the words "as defined according to GAAP"; and

        The definition of "Net Proceeds" shall be and is hereby amended in its
entirety to read as follows:

                  ""Net Proceeds" means with respect to any sale of property or
         sale or other issuance of any capital stock by any Person an amount
         equal to the aggregate amount of the Fair Market Value of the
         consideration received by such Person in respect of such sale or
         issuance, minus all out-of-pocket costs and expenses actually incurred
         by such Person in connection with such sale or issuance (but excluding
         all state, federal and foreign taxes incurred, or to be incurred, by
         such Person in connection with such sale or issuance)."

        Section 1.17. The following shall be added as new definitions in
alphabetical order to the Defined Terms in Schedule B to the Note Agreement:

                                       6

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Schawk, Inc.                                   First Amendment to Note Agreement

                  "Capital Stock" means (i) in the case of a corporation,
         corporate stock, (ii) in the case of an association or business entity,
         any and all shares, interests, participations, rights or other
         equivalents (however designated) of corporate stock, (iii) in the case
         of a partnership, partnership interests (whether general or limited)
         and (iv) any other interest or participation that confers on a Person
         the right to receive a share of the profits and losses of, or
         distributions of assets of, the issuing Person; provided, however, that
         "Capital Stock" shall not include any debt securities convertible into
         equity securities prior to such conversion.

                  "Collateral Agent" means JPMorgan Chase Bank N.A. in its
         capacity as Collateral Agent under the Intercreditor Agreement and any
         successor Collateral Agent appointed pursuant to the terms thereof.

                  "Foreign Incorporated Subsidiary" means a Subsidiary of the
         Company which is not organized under the laws of a jurisdiction located
         in the United States of America.

                  "Intercreditor Agreement" means the Intercreditor Agreement to
         be entered into by the Administrative Agent, the Collateral Agent and
         the holders of the Notes, the 1995 Notes and the 2003 Notes, in form
         and substance satisfactory to the Required Holder(s), as the same may
         be amended, restated, supplemented or otherwise modified from time to
         time.

                  "1995 Note Agreement" means the Note Agreement, dated August
         18, 1995, among the Company, as successor to Filtertek USA, Inc., the
         Company, Plastic Molded Concepts, Inc., Tek Purchasing Group, Inc., and
         the purchasers named in the Purchaser Schedule thereto, as amended from
         time to time.

                  "1995 Notes" shall mean the Company's 6.98% Series B Senior
         Notes due August 18, 2005 issued pursuant to the 1995 Note Agreement.

                  ""Restricted Payment" means (a) any dividends or other
         distributions or payments on the capital stock of or other equity
         interests in the Company or any Subsidiary (excluding dividends or
         distributions in such stock or other equity interests and excluding
         dividends on distributions by a Subsidiary to the Company or to another
         Wholly-Owned Restricted Subsidiary), and (b) the redemption or
         acquisition of any capital stock or other equity interests in the
         Company or any Subsidiary (except when solely in exchange for such
         stock or other equity interests or from

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Schawk, Inc.                                   First Amendment to Note Agreement

         the Company or a Wholly-Owned Restricted Subsidiary). For the purposes
         hereof, "capital stock" shall include warrants, rights or other options
         to purchase capital stock or other equity interests."

                  "Seven Worldwide Acquisition" means the transactions
         contemplated by the Stock Purchase Agreement dated December 17, 2004,
         among the Company, Seven Worldwide, Inc., a Delaware corporation, KAGT
         Holdings, Inc., a Delaware corporation ("Seven Worldwide Holdings"),
         Kohlberg Investors IV, L.P., Kohlberg TE Investors IV, L.P., Kohlberg
         Offshore Investors IV, L.P., Kohlberg Partners IV, L.P., KOCO
         Investors, L.P., Silver Point Capital Fund, L.P., Silver Point Capital
         Offshore Fund, Limited, Hudson River Co. Investment Fund, L.P., and
         VOIII, LLC (the "Acquisition Agreement"), providing for the acquisition
         of stock of Seven Worldwide Holdings for an aggregate purchase price
         not in excess of $191,000,000, subject to the adjustment for working
         capital as set forth therein, plus related fees and expenses.

                  "2005 Note Agreement" means the Note Purchase Agreement, dated
         January 28, 2005, between the Company and the Purchasers named in the
         Purchaser Schedule attached thereto, as amended from time to time.

                  "2005 Notes" means the Company Series C, D and E Senior Notes
         in the aggregate principal amount of $50,000,000 issued pursuant to the
         2005 Note Agreement.

                  "Wholly-Owned Restricted Subsidiary" means any Restricted
         Subsidiary all of the equity interests and voting interests of which
         are owned by any one or more of the Company and the Company's other
         Wholly-Owned Restricted Subsidiaries.

SECTION 2. REPRESENTATIONS AND WARRANTIES OF THE COMPANY.

         Section 2.1. To induce the Noteholders to execute and deliver this
First Amendment (which representations shall survive the execution and delivery
of this First Amendment), the Company represents and warrants to the Noteholders
that:

                  (a) this First Amendment has been duly authorized, executed
         and delivered by it and this First Amendment constitutes the legal,
         valid and binding obligation, contract and agreement of the Company
         enforceable against it in accordance with its terms, except as
         enforcement may be limited by bankruptcy, insolvency, reorganization,
         moratorium or similar laws or equitable principles relating to or
         limiting creditors' rights generally;

                                       8

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Schawk, Inc.                                   First Amendment to Note Agreement

                  (b) the Note Agreement, as amended by this First Amendment,
         constitute the legal, valid and binding obligations, contracts and
         agreements of the Company enforceable against it in accordance with
         their respective terms, except as enforcement may be limited by
         bankruptcy, insolvency, reorganization, moratorium or similar laws or
         equitable principles relating to or limiting creditors' rights
         generally;

                  (c) the execution, delivery and performance by the Company of
         this First Amendment (i) has been duly authorized by all requisite
         corporate action and, if required, shareholder action, (ii) does not
         require the consent or approval of any governmental or regulatory body
         or agency, and (iii) will not (A) violate (1) any provision of law,
         statute, rule or regulation or its certificate of incorporation or
         bylaws, (2) any order of any court or any rule, regulation or order of
         any other agency or government binding upon it, or (3) any provision of
         any material indenture, agreement or other instrument to which it is a
         party or by which its properties or assets are or may be bound, or (B)
         result in a breach or constitute (alone or with due notice or lapse of
         time or both) a default under any indenture, agreement or other
         instrument referred to in clause (iii)(A)(3) of this SS. 2.1(C);

                  (d) as of the date hereof and after giving effect to this
         First Amendment, no Default or Event of Default has occurred which is
         continuing; and

                  (e) all the representations and warranties contained in
         Section 5 of the Note Agreement are true and correct in all material
         respects with the same force and effect as if made by the Company on
         and as of the date hereof.

SECTION 3. CONDITIONS TO EFFECTIVENESS OF THIS FIRST AMENDMENT.

         Section 3.1. This First Amendment shall not become effective until, and
shall become effective when, each and every one of the following conditions
shall have been satisfied:

                  (a) executed counterparts of this First Amendment, duly
         executed by the Company and the holders of the Notes, shall have been
         delivered to the Noteholders;

                  (b) the representations and warranties of the Company set
         forth in SS. 2 hereof are true and correct on and with respect to the
         date hereof;

                  (c) the Noteholders shall have received the favorable opinion
         of counsel to the Company as to the matters set forth in SS.SS. 2.1(A),
         2.1(B) and 2.1(C) hereof, which opinion shall be in form and substance
         satisfactory to the Noteholders; and

                  (d) the Company agrees to pay upon demand, the reasonable fees
         and expenses of Chapman and Cutler LLP, special counsel to the
         Noteholders, in connection with the negotiation, preparation, approval,
         execution and delivery of this First Amendment.

Upon receipt of all of the foregoing, this First Amendment shall become
effective.

                                       9

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Schawk, Inc.                                   First Amendment to Note Agreement

SECTION 4. MISCELLANEOUS.

         Section 4.1. This First Amendment shall be construed in connection with
and as part of each of the Note Agreement, and except as modified and expressly
amended by this First Amendment, all terms, conditions and covenants contained
in the Note Agreement and the Notes are hereby ratified and shall be and remain
in full force and effect.

         Section 4.2. Any and all notices, requests, certificates and other
instruments executed and delivered after the execution and delivery of this
First Amendment may refer to the Note Agreement without making specific
reference to this First Amendment but nevertheless all such references shall
include this First Amendment unless the context otherwise requires.

         Section 4.3. The descriptive headings of the various Sections or parts
of this First Amendment are for convenience only and shall not affect the
meaning or construction of any of the provisions hereof.

         Section 4.4. This First Amendment shall be governed by and construed in
accordance with the laws of the State of New York.

                         [Signatures on Following Page]

                                       10

<PAGE>

Schawk, Inc.                                   First Amendment to Note Agreement

         The execution hereof by you shall constitute a contract between us for
the uses and purposes hereinabove set forth, and this First Amendment may be
executed in any number of counterparts, each executed counterpart constituting
an original, but all together only one agreement.

                                       Very truly yours,

                                       SCHAWK, INC.

                                       By /s/ James J. Patterson
                                          --------------------------------------
                                          Name:  James J. Patterson
                                          Title: Senior Vice President and
                                                 Chief Finanical Officer

The Subsidiary Guarantors hereby ratify the foregoing amendments.

                                       SCHAWK USA, INC.

                                       By: /s/ James J. Patterson
                                           -------------------------------------
                                           Name: James J. Patterson
                                           Its:  Vice President, Finance

                                       SCHAWK-ASIA, INC.

                                       By: /s/ James J. Patterson
                                           -------------------------------------
                                           Name: James J. Patterson
                                           Its:  Vice President, Finance

                                       LSI/KALA LLC

                                       By: /s/ James J. Patterson
                                           -------------------------------------
                                           Name: James J. Patterson
                                           Its:  Vice President, Finance

                                       SCHAWK GLOBAL ENTERPRISES, INC.

                                       By: /s/ James J. Patterson
                                           -------------------------------------
                                           Name: James J. Patterson
                                           Its:  Vice President, Finance

                                       11

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Schawk, Inc.                                   First Amendment to Note Agreement

                                       SCHAWK JAPAN, INC.

                                       By: /s/ James J. Patterson
                                           -------------------------------------
                                           Name: James J. Patterson
                                           Its:  Vice President, Finance

                                       INTERCHANGEDIGITAL, INC.

                                       By: /s/ James J. Patterson
                                           -------------------------------------
                                           Name: James J. Patterson
                                           Its:  Vice President, Finance

                                       SCHAWK LLC

                                       By: /s/ James J. Patterson
                                           -------------------------------------
                                           Name: James J. Patterson
                                           Its:  Vice President, Finance

                                       LSI/KALA OF MICHIGAN, INC.

                                       By: /s/ James J. Patterson
                                           -------------------------------------
                                           Name: James J. Patterson
                                           Its:  Vice President, Finance

                                       12

<PAGE>

Schawk, Inc.                                   First Amendment to Note Agreement

Accepted as of the date first written above.

                                       MASSACHUSETTS MUTUAL LIFE INSURANCE
                                         COMPANY

                                       By:  Babson Capital Management LLC, as
                                            Investment Adviser

                                            By /s/ Elisabeth A. Perenick
                                               ---------------------------------
                                               Name:  Elisabeth A. Perenick
                                               Title: Managing Director

                                       C.M. LIFE INSURANCE COMPANY

                                       By:  Babson Capital Management LLC, as
                                            Investment Adviser

                                            By /s/ Elisabeth A. Perenick
                                               ---------------------------------
                                               Name:  Elisabeth A. Perenick
                                               Title: Managing Director

                                       MASSMUTUAL ASIA LIMITED

                                       By:  Babson Capital Management LLC, as
                                            Investment Adviser

                                            By /s/ Elisabeth A. Perenick
                                               ---------------------------------
                                               Name:  Elisabeth A. Perenick
                                               Title: Managing Director

                                       13EXHIBIT 4.1

                             ALLAIRE COMMUNITY BANK

                                      1999

                               EMPLOYEE STOCK PLAN

<PAGE>

                             ALLAIRE COMMUNITY BANK
                            1999 Employee Stock Plan
                                Table of Contents

                                                                            Page
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SECTION 1. General Purpose of Plan .........................................   1

SECTION 2. Definitions .....................................................   1

SECTION 3. Administration ..................................................   3

SECTION 4. Eligibility .....................................................   3

SECTION 5. Shares Subject to the Plan ......................................   3

SECTION 6. Stock Options ...................................................   4

SECTION 7. General .........................................................   5

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                             ALLAIRE COMMUNITY BANK

                            1999 EMPLOYEE STOCK PLAN

SECTION 1. General Purpose of Plan

      The name of this plan is the Allaire Community Bank 1999 Stock Incentive
Plan (the "Plan"). The purpose of the Plan is to enable Allaire Community Bank
(the "Company") and other members of the Group (as defined below) to retain and
attract executives and other key employees who contribute to the success of the
Company and the Group by their ability and industry, and to enable such
individuals to participate in the long-term success and growth of the Company by
giving them a proprietary interest in the Company.

SECTION 2. Definitions

      As used in this Plan the following terms have the meanings stated. The
singular includes the plural, and the masculine gender includes the feminine and
neuter genders, and vice versa, as the context requires. The word "person"
includes any natural person and any corporation, firm, partnership or other form
of association.

      (a)   "Board" means the Board of Directors of the Company.

      (b)   "Code" means the Internal Revenue Code of 1986, as it may be amended
            from time to time.

      (c)   "Committee" means a committee of two or more members of the Board,
            to which the Board has delegated the authority to administer the
            Plan under Section 3.

      (d)   "Common Stock" means the common stock, $5.00 par value, of the
            Company.

      (e)   "Company" means Allaire Community Bank and any successor thereto.

      (f)   "Disability" means a permanent and total disability as defined in
            Section 22 of the Code.

      (g)   "Fair Market Value" has the meaning stated in Section 8.12.

      (h)   "Grant Date" means the date on which an Incentive is awarded or
            granted as specified by the Committee.

      (i)   "Group" means the Company, each parent corporation to the Company,
            and each of the Company's subsidiaries, as these terms are defined
            in Sections 424(e) and 424(f) of the Code.

      (j)   "Incentives" shall mean any stock option as set forth in Section
            5.04.

      (k)   "Incentive Stock Option" means a stock option intended to qualify as
            an incentive stock option under Section 422 of the Code.

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      (l)   "Inside Director" means a Director who is also an Employee and also
            a member of the Board of Directors of the Company.

      (m)   "Misconduct" shall mean willful and continued failure by the
            Participant to perform the Participants duties for the Company or a
            Subsidiary after a warning in writing from the Committee
            specifically identifying any such failure; the willful engaging by
            the Participant in an act which causes material injury to the
            Company or a Subsidiary as specified in a written notice from the
            Committee; conviction of a crime (other than a traffic violation);
            habitual drunkenness, drug abuse or excessive absenteeism (other
            than for illness), after a warning from the Committee. No act or
            failure to act on the part of a Participant shall be considered
            willful unless done, or omitted to be done, not in good faith and
            without reasonable belief that the action or omission was in the
            best interest of the Company.

      (n)   "Non-Employee Director" shall have the meaning set forth in Rule
            16b-3(b)(3) as promulgated by the Securities and Exchange Commission
            under the Securities Exchange Act of 1934, as amended, or any
            successor definition adopted by the Commission.

      (o)   "Non-Statutory Stock Option" means any Stock Option other than an
            Incentive Stock Option.

      (p)   "Outside Director" means a director who (a) is not a current
            employee of the Company or any member of an affiliated group which
            includes the Company; (b) is not a former employee of the Company
            who receives compensation for prior services (other than benefits
            under a tax-qualified Retirement plan) during the taxable year; (c)
            has not been an officer of the Company; (d) does not receive
            remuneration from the Company, either directly or indirectly, in any
            capacity other than as a director, except as otherwise permitted
            under Code Section 162(m) and regulations thereunder. For this
            purpose remuneration includes any payment in exchange for goods and
            services. This definition shall be further governed by the
            provisions of Code Section 162(m) and regulations promulgated
            thereunder.

      (q)   "Participant" means an employee or director of any member of the
            Group to whom an Incentive has been awarded.

      (r)   "Plan" means this Allaire Community Bank 1999 Employee Stock Option
            Plan, as the same may be amended from time to time.

      (s)   "Qualified Person" means a Participant's legal guardian or legal
            representative or a deceased Participant's heir or legatee who has a
            legal right to or in respect of an Incentive of that Participant.

      (t)   "Retirement" means separation from services as an Employee or
            Director by reason of ceasing to perform any services to the Bank as
            an Employee or Director which shall be approved by the Company.

      (u)   "Share" means a share of Common Stock.

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      (v)   "Stock Option" means an Incentive Stock Option or a Non-Statutory
            Stock Option.

SECTION 3. Administration

      3.01. The Committee. The Plan shall be administered by a Committee
consisting of not less than two persons appointed by the Board from among its
members. A person may serve on the Committee only if he or she is a Non-Employee
Director and an Outside Director. Committee members shall serve at the pleasure
of the Board.

      The Committee shall have the power and authority to grant to eligible
employees, pursuant to the terms of the Plan and Stock Options.

      In particular, the Committee shall have the authority:

            (i)   to select the officers and other key employees of the Group to
                  whom Stock Options may from time to time be granted hereunder.

            (ii)  to determine whether and to what extent Incentive Stock
                  Options, Non-Statutory Stock Options or a combination of the
                  foregoing, are to be granted hereunder; and

            (iii) to determine the terms and conditions, not inconsistent with
                  the terms of the Plan, of any award granted hereunder
                  (including, but not limited to, any restriction on any Stock
                  Option and/or the Shares relating thereto).

      The Committee shall have the authority to adopt, alter and repeal such
administrative rules, guidelines and practices governing the Plan as it shall,
from time to time, deem advisable; to interpret the terms and provisions of the
Plan and any award issued under the Plan (and any agreements relating thereto);
and to otherwise supervise the administration of the Plan.

      All decisions made by the Committee pursuant to the provisions of the Plan
shall be final and binding on all persons, including the Company and
Participants.

SECTION 4. Eligibility

      4.01. Designation of Employees. All employees of any member of the Group,
including officers and directors who are employees, are eligible to receive
Incentives under the Plan. Directors and officers who are not employees of any
member of the Group may not receive Incentives under the Plan.

      4.02. Participants. The Committee may consider any factor in selecting
Participants and in determining the type and amount of their Incentives,
including, but not limited to, (a) the current or anticipated financial
condition of the Group, (b) the contributions by the Participant to the Group
and (c) the other compensation provided to the Participant. The Committee's
award of an Incentive to a person in any year shall not require the Committee to
award any Incentive to that person in any other year.

SECTION 5. Shares Subject to the Plan

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      5.01. Number of Shares. Subject to Section 8.07, the aggregate number of
Shares which may be issued under the Plan shall not exceed 35,546 Shares.

      5.02. Expiration and Cancellation. If an Incentive granted under the Plan
expires, is terminated or is otherwise canceled before exercise, that Incentive
and the related shares of Common Stock shall not apply toward the limits
provided in Section 5.01. If Shares issued or awarded under this Plan are
forfeited, canceled, terminated or reacquired by the Company, those forfeited,
canceled, terminated or reacquired Shares shall not apply toward the limits
provided in Section 5.01 and shall be available again for the grant of
Incentives.

      5.03. Maintenance of Stock. Shares issued under the Plan shall be
authorized and unissued shares or shares of treasury stock. The Company shall
always maintain the number of such Shares at least equal to a number of Shares
for which Incentives have been granted and remain outstanding and unexercised.

      5.04. Types of Incentive. Incentives may be granted in any one or any
combination of the following forms: (a) Non-Statutory Stock Options (Section 6)
and (b) Incentive Stock Options (Section 6).

SECTION 6. Stock Options

      Each Stock Option granted under this Plan shall be subject to the
following terms and conditions:

      6.01. Price. The option price per share shall be determined by the
Committee; provided, however, that the option price shall not be less than the
Fair Market Value set forth in Section 8.12 on the Grant Date of the Common
Stock subject to the Stock Option.

      6.02. Number. The number of Shares subject to the Stock Option shall be
determined by the Committee.

      6.03. Duration and time for exercise. The Grant Date of a Stock Option
shall be the date specified by the Committee, provided that such date shall not
be before the date on which the Stock Option is actually granted. The terms of
each Stock Option shall be determined by the Committee but shall not exceed ten
(10) years from the date of grant. Each Stock Option shall become exercisable at
such time or times in such amount or amounts during its term as shall be
determined by the Committee at the time of grant. The Committee may accelerate
the exercisability of any Stock Option. Unless otherwise specified by the
Committee, once a Stock Option becomes exercisable, whether in full or in part,
it shall remain so exercisable until its expiration, forfeiture, termination or
cancellation.

      6.04. Exercise. A Stock Option may be exercised, in whole or in part, by
giving written notice to the Company (Attention: Chief Financial Officer) at its
principal office or to such transfer agent as the Company may designate. The
notice shall identify the Incentive being exercised and shall contain such other
information and terms as the Committee may require. The notice shall be
accompanied by full payment of the purchase price for the Shares (a) in United
States dollars in cash or by check, (b) at the discretion of the Committee, by
delivery of previously acquired Shares having a Fair Market Value equal on the
date of exercise to the cash exercise price of the Stock Option, or (c) at the
discretion of the Committee, by a combination of

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(a) and (b) above. As soon as practicable after receipt of the written notice,
the Company shall deliver to the person exercising the Stock Option one or more
certificates for the Shares.

      6.05. Incentive Stock Options. Notwithstanding anything in this Plan to
the contrary, the following additional provisions shall apply to the grant of
Incentive Stock Options:

      (a)   The aggregate Fair Market Value on the Award Date of the Shares with
            respect to which Incentive Stock Options are exercisable for the
            first time by any Participant during any calendar year (under all
            plans of the Group) shall not exceed $100,000;

      (b)   All Incentive Stock Options must be granted within ten (10) years
            from the date on which the Plan was adopted by the Board;

      (c)   Unless exercised sooner, each Incentive Stock Option shall expire no
            later than ten (10) years after the Grant Date for that Incentive
            Stock Option;

      (d)   No Incentive Stock Options shall be granted to any Participant who,
            at the time that option is granted, owns (within the meaning of
            Section 422 of the Code) stock having more than 10% of the total
            combined voting power of all classes of stock of the Company or any
            member of the Group, unless the option price is equal to at least
            110% of the Fair Market Value of the Shares subject to the option on
            the Grant Date and the option is not exercisable later than five
            years from the Grant Date;

      (e)   Each Incentive Stock Option agreement referred to in Section 8.05
            shall contain or be deemed to contain all provisions required in
            order to qualify those Stock Options as incentive stock options
            under Section 422 of the Code, and the provisions of this Plan shall
            be interpreted and construed to effect such treatment under that
            Section.

SECTION 7. General

      7.01. Effective Date. This Plan shall be effective as of the date of its
approval by the shareholders of the Company. If shareholder approval is not
obtained within one year following the date the Plan is adopted by the Board,
the plan and any Incentives awarded thereunder shall be void ab initio.

      7.02. Duration. Unless the Plain is terminated earlier, the Plan shall
terminate ten (10) years from the date on which the Plan is approved by
shareholders of the Company. No Incentive or other rights under the Plan shall
be granted thereafter. The Board, without further approval of the Company's
stockholders, may at any time before that date terminate the Plan. After
termination of the Plan, no further Incentives may be granted under the Plan.
Stock Options granted before any such termination shall continue to be
exercisable in accordance with the terms of the Option.

      7.03. Non-transferability of Incentives; Exercise by Participant. No
Incentive may be sold, pledged, assigned, encumbered, disposed of or otherwise
transferred other than by will or the laws of descent and distribution. The
Company shall not be required to recognize any

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attempted disposition by any Participant or Qualified Person. During a
Participant's lifetime, such Participant's Stock Options are only exercisable by
such Participant.

      7.04. Effects of Death, Disability, Termination of Employment.
Notwithstanding any provision to the contrary herein or in any Incentive
Agreement, the following provisions shall apply with respect to Stock Options
held by a Participant at the termination of such Participant's employment with
members of the group in the event that such Participant's employment terminates
as a result of death of Disability;

      (a)   If such employment terminates as a result of death, the
            Participant's estate shall have the right to exercise the
            Participant's Stock Options for a period ending on the earlier of
            the expiration dates of such Stock Options or eighteen (18) months
            from the date of termination of employment, provided that such Stock
            Options shall be exercisable by such estate only to the extent
            exercisable on the date of termination of employment.

      (b)   If such employment terminates as a result of Disability, the
            participant shall have the right to exercise his Stock Options for a
            period ending on the expiration dates of such Stock Options,
            provided that such Stock Options shall be exercisable by the
            Participant after termination of employment.

      (c)   If such employment terminates as a result of Retirement, the
            Participant shall have the right to exercise his/her Stock Option
            until the expiration of the Stock Option.

      (d)   If such employment terminates for any reason other than death,
            Disability or Retirement, the Participant shall have the right to
            exercise his/her Stock Options for a period ending on the earlier of
            the expiration dates of such Stock Options or ninety (90) days from
            the date of termination of employment, provided that such Stock
            Options shall be exercisable by the Participant after termination of
            employment only to the extent exercisable on the date of termination
            of employment.

      (e)   If such employment termination is a result of Misconduct, the Stock
            Option shall expire immediately effective with the act of
            Termination.

      7.05. Incentive Agreements. The terms of each Incentive shall be stated in
an agreement between the Company and the Participant in a form approved by the
Committee. The Participant must execute and deliver the agreement to the Company
as a condition to the effectiveness of the Incentive. All such agreements may
contain all terms and condition as the Committee considers advisable that are
not inconsistent with the Plan, including, but not limited to, transfer
restrictions, rights of first refusal, forfeiture provisions, representations
and warranties of the Participant and provisions to ensure compliance with all
applicable laws, regulations and rules as provided in Section 7.06.

      7.06. Compliance with Law. The Company may determine, in its sole
discretion, that it is necessary or desirable to list, register or qualify (or
to update any listing, registration or qualification of) any Incentive or the
Shares issuable or issued under any Incentive or this Plan on any securities
exchange or under any federal or state securities law, or to obtain consent or
approval of any governmental body as a condition of, or in connection with, the
award of any

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incentive, the issuance of Shares under any Incentive or this Plan, or the
removal of any restrictions imposed on such Shares. If the Company makes such a
determination, the Incentive shall not be awarded or the Shares shall not be
issued or the restrictions shall not be removed, as applicable, in whole or in
part, unless and until the listing, registration, qualification, consent or
approval shall have been effected or obtained free of any conditions not
acceptable to the Company. The Company's obligation to sell or issue Shares
under and Incentive is subject to the compliance with all applicable laws and
regulations. The Committee, in its sole discretion, shall determine whether the
sale and issue of Shares is in compliance with all applicable laws and
regulations.

      7.07. Adjustment. If the outstanding Shares of Common Stock are increased
or decreased or changed into or exchanged for a different number or kind of
securities of the Company or of another corporation, by reason of
reorganization, merger, consolidation, recapitalization, reclassification, stock
split, combination of securities or dividend payable in corporate securities,
then a appropriate adjustment shall be made by the Board in the number, kind
and/or price of Shares of which Incentives may be granted under the Plan. In
addition, the Board shall make appropriate adjustment in the number, kind and/or
price of Shares as to which outstanding Incentives, or portions thereof then
unexercised, shall be exercisable. In the event of any such adjustment, the
exercise price of any Stock Option, the performance objectives, restrictions or
other terms and conditions of any Incentive and the Shares issuable under any
Incentive shall be adjusted as and to the extent appropriate, in the sole and
absolute discretion of the Board, to provide each Participant with substantially
the same relative rights before and after such adjustment to the extent
practical.

      7.08. Withholding.

      (a)   The Company shall have the right to withhold from any payments made
            under the Plan or to collect as a condition to any award, payment or
            issuance of Shares under the Plan any taxes required to be withheld
            by Federal, state or local law. Whenever a Participant is required
            to pay to the Company an amount required to be withheld under
            applicable tax laws in connection with a distribution of Shares or
            upon exercise of a Stock Option, the Participant may satisfy this
            obligation in whole or in part by electing (the "Election") to have
            the Company withhold from the distribution that number of Shares
            having a value equal to the amount required to be withheld. The
            value of the Shares to be withheld shall be based on the Fair Market
            Value of the Shares on the date on which the amount of tax to be
            withheld is to be determined ("Tax Date").

      (b)   Each Election must be made before the Tax Date. The Committee may
            disapprove any Election, may suspend or terminate the right to make
            Elections, or may provide with respect to any incentive that the
            right to make an Election shall not apply to that Incentive. An
            Election is irrevocable.

      7.09. No Right to Continued Employment. No Participant under the Plan
shall have any right to continue in the employ of the Company or any member of
the Group for any period of time because of his or her participation in the
Plan.

      7.10. No Right as Stockholder. No participant or Qualified Person shall
have the rights of a stockholder with respect to the Shares covered by an
Incentive unless a stock certificate is

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issued to that person for the Shares. No adjustment shall be made for cash
dividends or similar rights for which the record date is before the date on
which such stock certificate is issued.

      7.11. Amendment of the Plan. The Board may amend the Plan from time to
time in such respects as the Board deems advisable. No such amendment, however,
shall (a) change or impair an Incentive without the consent of the Participant
or Qualified Person holding that Incentive, or (b) without the prior approval of
the Company stockholders (i) increase the limits provided in Section 5.01
(except by adjustment under Section 8.07), (ii) change the class of person
eligible to receive Incentives under the Plan, or (iii) make any other change
that requires approval of the Company stockholders under applicable law or to
preserve the treatment of the Incentive Stock Options as such under Section 422
of the Code.

      7.12. Definition of Fair Market Value. Whenever "Fair Market Value" of
Common Stock is to be determined for purposes of this Plan, it shall be
determined as follows:

      The Stock Option Price shall be equal to the Fair Market Value of a share
of Stock on the Grant Date. The Fair Market Value of a share of Stock on the
Grant Date (or any other date on which such Fair Market Value is relevant) be
determined by the Committee which may use the bid price last quoted by a
reputable brokerage firm on such Grant Date or if no such reputable broker has
any bid prices available then the Fair Market Value is to be determined in good
faith from time to time by the Committee. In no event shall any option be
granted for less than par value of the Bank's Stock.

      7.13. Acceleration; Exercise. Notwithstanding anything to the contrary set
forth in the Plan, in the event that (i) the Company should adopt a plan of
reorganization pursuant to which (A) it shall merge into, consolidate with or
sell substantially all of its assets to, any other corporation or entity or (B)
any other corporation or entity shall merge into the Company in a transaction in
which the Company shall become a wholly-owned subsidiary of another entity, or
(ii) the Company should adopt a plan of complete liquidation, then (A) all Stock
Options granted hereunder shall be fully exercisable upon consummation of such
event and (B) the Company may give a Participant written notice thereof
requiring such Participant either (1) to exercise his or her Stock Options
within thirty days after receipt of such notice, including all installments
whether or not they would otherwise be exercisable at that date, (2) in the
event of a merger or consolidation in which shareholders of the Company will
receive shares of another corporation, to agree to convert his or her Stock
Options into comparable options to acquire such shares, (3) in the event of a
merger or consolidation in which shareholders of the Company will receive cash
or other property (other than capital stock), to agree to convert his or her
Stock Options into such consideration (in an amount representing the
appreciation over the exercise price of such Stock Options) or (4) to surrender
such Stock Options or any unexercised portion thereof.

      7.14. Investment Letter. If required by the Committee, each Participant
shall agree to execute a statement directed to the Company, upon each and every
exercise by such Participant of any Stock Options, that shares issued thereby
are being acquired for investment purposes only and not with a view to the
distribution thereof, and containing an agreement that such shares will not be
sold or transferred unless either (1) registered under the Securities Act of
1933 and all applicable state securities laws, or (2) exempt from such
registration in the opinion of Company counsel. If required by the Committee,
certificates representing shares of Common Stock issued upon exercise of Stock
Options shall bear a restrictive legend summarizing the restrictions on
transferability applicable thereto.

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      7.15. Fractional and Minimum Shares. In no event shall a fraction of a
Share be purchased or issued under the Plan without Board approval. The
Committee may specify a minimum number of Shares for which each Stock Option
must be exercised.

      7.16. Application of Funds. The proceeds received by the Company from the
sale of Shares under the Plan shall be used for general corporate purposes.

      7.17. Other Incentives and Plans. Nothing in this Plan shall prohibit any
member of the Group from establishing other employee incentives and plans.

      7.18. Governing Law. The validity and construction of the Plan and of each
agreement evidencing Incentives shall be governed by the laws of the State of
New Jersey, excluding the conflict-of-laws principles thereof.

      Adopted as of April 9, 1999
      by the Board of Directors of
      Allaire Community Bank

      /s/ Benjamin H. Danskin
      -----------------------
      Benjamin Danskin
      Chairman of the Board

      Approved and ratified by the shareholders at the Allaire Community Bank
      1999 Annual Meeting of the Shareholders by majority vote of all of the
      outstanding shares.

      /s/ Robert S. Vuono
      -------------------
      Robert S, Vuono
      Secretary of the 1999 Shareholders Meeting

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