Document:

Exhibit 10.6
                              AMENDED AND RESTATED
                     EXECUTIVE SALARY CONTINUATION AGREEMENT

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

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

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

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

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

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

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

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

I.       EMPLOYMENT

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

II.      FRINGE BENEFITS

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

                                       1
<PAGE>
          payment or bonus in lieu of these salary continuation  benefits except
          as set forth hereinafter.

III.     NORMAL RETIREMENT AGE

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

IV.      RETIREMENT BENEFIT

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

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

V.       DEATH OF THE EXECUTIVE

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

VI.      BENEFIT ACCOUNTING

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

VII.     VESTING

          The  Executive  shall be one  hundred  percent  (100%)  vested  in the
          benefits provided herein.
                                       2
<PAGE>

VIII.    OTHER TERMINATION OF EMPLOYMENT AND DISABILITY

         A. Other Termination of Employment:

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

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

         B. Disability:

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

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

                                       3
<PAGE>
               Executive,  and a third  physician  selected by each of the other
               two (2)  physicians.  Such  resolution  shall be binding upon all
               parties to this agreement.

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

IX.      CHANGE OF CONTROL

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

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

X.       RESTRICTIONS ON FUNDING

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

                                       4
<PAGE>

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

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

XI.      MISCELLANEOUS

          A. Alienability and Assignment Prohibition:

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

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

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

          C. Amendment or Revocation:

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

                                       5
<PAGE>
          D. Gender:

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

          E. Effect on Other Bank Benefit Plans:

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

         F. Headings:

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

         G. Applicable Law:

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

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

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

         I. Partial Invalidity:

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

          J. Not a Contract of Employment:

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

          K. Effective Date:

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

<PAGE>

XII.     ERISA PROVISION

          A. Named Fiduciary and Plan Administrator:

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

          B. Claims Procedure and Arbitration:

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

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

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

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

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

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

XIV.     CONFIDENTIAL INFORMATION

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

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

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

                                                    AMERICAN BANK OF NEW JERSEY
                                                    Bloomfield, New Jersey

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

/s/ Kathleen Walsh                                      /s/ Catherine Bringuier
--------------------------------------------            -----------------------
Witness                                                 Catherine Bringuier

                                       9Exhibit 10.9
                                                    Amended as of June 28, 2005
                                            Further amended as of June 17, 2008

                           AMERICAN BANK OF NEW JERSEY

                   DIRECTORS CONSULTATION AND RETIREMENT PLAN

                             AS AMENDED AND RESTATED

     WHEREAS, American Bank of New Jersey,  Bloomfield,  New Jersey (the "Bank")
previously  implemented a Directors Consultation and Retirement Plan ("Plan") to
reward the years of  extensive  service  provided by the current  members of the
Board of  Directors  and to  continue  to attract  and to retain the best talent
available to serve on its Board of Directors; and

     WHEREAS,  the corporate structure of the Bank has changed since the initial
implementation  of  such  Plan to  include  the  holding  company  for the  Bank
("American  Bancorp of New Jersey,  Inc." or the "Company") and the directors of
the Bank also serve as  directors  of the Company and receive  compensation  for
such services; and

     WHEREAS,  the  Board of  Directors  of the Bank has  determined  that it is
appropriate  and  advisable  that the  compensation  paid by the  Company to its
directors also be considered in determining benefits under the Plan; and

     WHEREAS, the Board of Directors of the Bank has determined such program may
best be  accomplished  by having the Bank sponsor such a retirement  plan,  with
benefits to be based upon annual  retainers  and regular Board meeting fees paid
by the Bank and the Company and with the applicable  costs of such a program and
benefits thereunder to be allocated to the Company and the Bank; and

     WHEREAS,  the Plan must be further  amended to comply with  Section 409A of
the Internal Revenue Code of 1986, as amended (the "Code").

     NOW  THEREFORE,  BE IT RESOLVED that the Plan,  as previously  approved and
amended by the Bank,  be approved,  amended and restated by the Bank and adopted
and approved by the Company as of June 17, 2008, as follows:

                                    ARTICLE I

                                   DEFINITIONS

     The following  words and phrases as used herein  shall,  for the purpose of
the Plan and any  subsequent  amendment  thereof,  have the  following  meanings
unless a different meaning is plainly required by the content:

     "Beneficiary"  means the surviving spouse of the Participant (if any) as of
the  date of death of such  Participant,  and  shall  specifically  include  the
Participant's  estate, should the Participant have no surviving spouse. The term
Beneficiary  shall  also  specifically  include  the  estate of a  Participant's
spouse, if such spouse shall survive the Participant.

     "Board"  means  the  Board  of  Directors  of the Bank or the  Company,  as
<PAGE>

constituted from time to time, and successors thereto.

     "Change in Control"  means:  (i) the execution of an agreement for the sale
of all, or a material  portion,  of the assets of the Company or the Bank;  (ii)
the execution of an agreement for a merger or recapitalization of the Company or
the Bank or any merger or  recapitalization  whereby  the Company or the Bank is
not the surviving entity;  (iii) a change of control of the Company or the Bank,
as  otherwise  defined or  determined  by the Office of Thrift  Supervision,  or
regulations promulgated by it; or (iv) the acquisition,  directly or indirectly,
of the  beneficial  ownership  (within the meaning of that term as it is used in
Section  13(d) of the  Securities  and  Exchange  Act of 1934 and the  rules and
regulations  promulgated thereunder) of twenty-five percent (25%) or more of the
outstanding  voting securities of the Company or the Bank by any person,  trust,
entity or group.  This  limitation  shall not apply to the purchase of shares by
underwriters  in  connection  with a public  offering of the Company or the Bank
stock,  or the purchase of shares of up to 25% of any class of securities of the
Company or the Bank by a  tax-qualified  employee  stock benefit plan.  The term
"person"  refers  to  an  individual  or  a  corporation,   partnership,  trust,
association, joint venture, pool, syndicate, sole proprietorship, unincorporated
organization  or any  other  form of  entity  not  specifically  listed  herein.
Effective  January 1, 2008, no transaction or event shall be considered a Change
in Control  unless such  transaction  or event also qualifies as a change in the
ownership or effective  control,  or a change in the  ownership of a substantial
portion  of the assets of,  the  Company  or a related  corporation,  within the
meaning of Section 409A.

     "Committee"   means  the   Compensation   Committee  of  the  Bank  or  the
administrative  committee  as  appointed  by the Board  pursuant to Section 6.11
herein.

     "Company"  means  American  Bancorp of New Jersey,  Inc. and any  successor
entity or any future parent corporation of the Bank.

     "Director"  means a member of the Board of the Bank or the  Company  who is
not  otherwise  an  employee  of the  Bank  or the  Company,  or any  parent  or
subsidiary thereof.

     "Disability" means a mental or physical disability as defined under Section
409A.

     "Effective  Date" means August 27, 1996,  with such amendments as contained
herein.

     "Participant"  means a Director  serving on or after the Effective Date and
electing to  participate  in the Plan.  A Director's  participation  in the Plan
shall  continue  as  long  as  he or  she  fulfills  all  the  requirements  for
participation subject to the right of termination,  amendment,  and modification
of the Plan set forth herein. A Director who previously served as an employee of
the Bank and upon  retirement  as an employee  was  eligible  to receive  future
retirement  benefits  under a defined  benefit  pension  plan or a  supplemental
retirement  plan,  executive salary  continuation  agreement or similar deferred
compensation  arrangement  maintained  by the Bank shall not be eligible to be a
Participant in this Plan.

     "Plan" means the American  Bank of New Jersey  Directors  Consultation  and
Retirement Plan as set forth herein,  and as may be amended from time to time by
the Board.

     "Retirement  Benefit  Amount"  means the benefit  payable under the Plan in
accordance with Section 2.4 herein.

     "Retirement  Date" means the date of  termination  of service as a Director

                                       2
<PAGE>

following a  Participant's  completion of not less than 12 years of service as a
Director,  or not less than six years of service  following a Change in Control;
provided,  however,  the Retirement Date with regard to Directors  serving as of
the Effective  Date who have completed not less than five years of service as of
the  Effective  Date shall be the date of  termination  of service as a Director
without regard to the 12 years of service requirement. Upon death or Disability,
a  Director  shall be deemed  to have  terminated  service  as of such  date.  A
Director may attain the Retirement  Date for Service  completed at one corporate
entity and not yet meet the  requirements  for the  Retirement  Date for another
corporate  entity.  For purposes of this Plan,  effective  January 1, 2005,  the
phrases  "termination of service" and "termination  from service" shall have the
same meaning as "separation from service",  as that phrase is defined in Section
409A,  taking into account all rules and presumptions  provided for therein.  No
termination of service or  termination  from service shall be considered to have
occurred  unless it also  qualifies  as a  separation  from  service,  as herein
defined.

     "Bank" means American Bank of New Jersey,  Bloomfield,  New Jersey,  or any
predecessor or successor thereto.

     "Section  409A"  means  Section  409A of the Code and the  regulations  and
guidance of general applicability issued thereunder.

     "Service"  means  all  years of  Service  as a member  of the Board and all
predecessor entities;  provided,  however,  Service with "predecessor  entities"
refers only to  predecessors  of the Bank prior to the Effective Date. A year of
Service shall consist of twelve  consecutive  months of Service.  In calculating
the Retirement  Benefit Amount for Service to the Company and the Bank, years of
Service  may differ  based upon  actual  Service as a member of the Board of the
Company and the Bank.

                                   ARTICLE II

                                    BENEFITS

     2.1 Retirement. Upon a Participant's termination from service as a Director
of the Bank and the Company on or after his or her  applicable  Retirement  Date
for such corporate entity,  the Bank shall pay to the Participant the Retirement
Benefit Amount,  as described and in the amount set forth at Article II, Section
2.4;  provided that such payments  shall not commence  prior to such  Director's
attainment of age 65, except in accordance with Sections 2.2, 2.3 or 2.5 herein.
Payment of such Retirement  Benefit Amount shall begin on the first business day
of the month immediately following a Participant's  Retirement Date or the first
business day of the month immediately following such Participant's attainment of
age 65, if later. The Retirement  Benefit Amount will continue to be paid on the
first  business day of each  subsequent  month until all scheduled  payments are
made to the  Participant or the  Beneficiary.  Except as provided at Article II,
Sections 2.2, 2.3, and 2.5 herein, upon a Participant's termination from service
as a Director  prior to his or her  Retirement  Date,  the Bank and the  Company
shall have no financial obligations to the Participant under the Plan.

     2.2 Change in Control.

          (a) Benefits payable to a Participant that has terminated from service
as a Director prior to the date of a Change in Control shall nevertheless remain
payable  thereafter  without regard to such Change in Control.  However,  upon a
Change in Control,  all future benefits  payable  pursuant to Sections 2.1, 2.2,
2.3,  and 2.5 of the  Plan,  shall  be made in a lump sum  payment  equal to the

                                       3
<PAGE>
present  value of all future  benefits  payable to such  Participant  as soon as
administratively feasible as of or immediately following such Change in Control,
but in no event  later  than  the  earlier  of the end of the year in which  the
Change in Control occurs, or if later, the 15th day of the third month following
the date the Change in Control  occurred.  The  interest  rate in effect for a 3
year U.S.  Treasury  Note on the date of the lump sum payment as reported in the
Wall Street Journal shall be used for purposes of calculating  the present value
of amounts payable in accordance with Section 2.4.

          (b) A Participant  that has not terminated  from service as a Director
prior to the date of a Change in  Control  who as of the date of such  Change in
Control  has  reached  such  Retirement  Date shall be  immediately  eligible to
receive the Retirement  Benefit  Amount  specified at Section 2.4 herein without
regard to the actual  termination  of  Service as a Director  or the age of such
Director at such time. Such Retirement  Benefit Amount shall be paid in the form
of a lump sum  payment  equal to the  present  value of the  Retirement  Benefit
Amount  payable  under  Section 2.4  discounted  as provided at Section  2.2(a).
Payment  of the lump sum  amount  shall  be made to the  Participant  as soon as
practicable  as of or immediately  following  such Change in Control,  but in no
event  later  than the  earlier  of the end of the year in which  the  Change in
Control occurs,  or if later, the 15th day of the third month following date the
Change in Control occurred.

     2.3 Total and  Permanent  Disability.  In the event of the  Disability of a
Participant  on or after the  Retirement  Date who as of the date of  Disability
otherwise meets the  requirements set forth at Section 2.1 without regard to the
age of such  Director,  such  Participant  will be paid the  Retirement  Benefit
Amount  specified at Article II,  Section 2.4.  Payment of such  benefits  shall
commence on the first business day of the month immediately following the Bank's
receipt of a certification of such Participant's Disability.

     2.4 Level of Benefit  Payments.  A Participant who retires as a Director on
or after his or her Retirement Date in accordance with Sections 2.1, 2.2, 2.3 or
2.5 herein, and who enters into an agreement to be a consulting  director of the
Bank and the Company in accordance  with Section 2.6  hereinafter  shall receive
the Retirement Benefit Amount set forth as follows:

               The Retirement Benefit Amount shall be equal to a monthly payment
          for a period  of the life of the  Participant,  but in no event  for a
          period  of less than 144  consecutive  calendar  months,  equal to the
          product of (.08333333) times 100% of the highest aggregate annual fees
          paid  to a  Participant  during  the  most  recently  completed  three
          calendar  year  periods   ending  on  or  before  such   Participant's
          Retirement  Date;  provided  that  annual  fees paid for  purposes  of
          computation  of the Retirement  Benefit Amount shall include  retainer
          fees and fees paid for regular Board meetings  attended (and excluding
          payment of fees for Special  Meetings and  Committee  meetings) by the
          Bank and the Company.

     2.5 Death of Participant.  Upon the death of a Participant who is receiving
benefit payments under the Plan prior to his or her death, the remaining monthly
payments  to be made  under the Plan (if any)  shall be paid to the  Beneficiary
after the Participant's  death. Such remaining  payments shall be made until the
total number of monthly  payments  made  directly to such  Participant  plus the
number of monthly payments made to such  Beneficiary  shall equal a total of 144
monthly  payments.  Upon the death of a Participant who is not receiving benefit
payments  under  the Plan  prior to his or her death who as of the date of death
otherwise meets the requirements set forth at Section 2.1, the Bank shall pay to
the Beneficiary  the Retirement  Benefit Amount set forth at Article II, Section
2.4 for a  period  of 144  monthly  payments.  If a  Beneficiary  dies  prior to

                                       4

<PAGE>
receiving  all payments of the  Retirement  Benefit  Amount,  then the remaining
monthly payments will continue to be paid to the Beneficiary's  estate,  and all
obligations of the Bank and the Company under the Plan shall cease to exist with
respect to such Beneficiary only after all such payments have been made.

     2.6 Notice of  Retirement.  A director  electing to participate in the Plan
shall deliver  written notice  ("Notice") to the Board not less than thirty days
prior to the actual  Retirement Date that such Director elects to participate in
the Plan. Such Notice, in a form similar to that contained at Schedule A hereto,
shall specify the date of such  retirement  from the Board as a Director and the
Participant's   availability  as  a  Consulting   Director.  A  Participant  who
terminates service as a Director upon death, Disability,  or a Change in Control
shall not be required to deliver  such Notice in order to be entitled to receive
benefits under the Plan.

     2.7 Delay of Payments.  In the event the Director is a "specified employee"
as defined in Section 409A at the time of his  termination  from  service,  then
payments  to the  Director  shall  not  commence  until  six  months  after  the
Directors's termination from service, or his death if earlier. Any payments that
are delayed  because of the  preceding  sentence  shall be  accumulated  without
interest  and paid to the  Director or his  Beneficiary  as soon as  practicable
after the end of the six-month period.

                                   ARTICLE III

                         TRUST/NON-FUNDED STATUS OF PLAN

     3.1  Trust/Non  Funded  Status  of  Plan.  Except  as may  be  specifically
provided,  nothing  contained in this Plan and no action  taken  pursuant to the
provisions  of this Plan shall  create or be  construed to create a trust of any
kind,  or a  fiduciary  relationship  between  the  Bank,  the  Company  and the
Participant  or any other  person.  Any funds  which may be  invested  under the
provisions  of this Plan shall  continue  for all  purposes  to be a part of the
general  funds of the Bank. No person other than the Bank shall by virtue of the
provisions  of this Plan have any interest in such funds.  The Bank shall not be
under any obligation to use such funds solely to provide benefits hereunder, and
no representations have been made to any Participant that such funds can or will
be used only to  provide  benefits  hereunder.  To the  extent  that any  person
acquires a right to receive  payments  under the Plan,  such rights  shall be no
greater than the right of any unsecured general creditor.

                                   ARTICLE IV

                                     VESTING

     4.1  Vesting.  All  benefits  under  this Plan are  deemed  non-vested  and
forfeitable  prior  to a  Participant  meeting  the  requirements  set  forth at
Sections 2.1, 2.2, 2.3 and 2.5 herein.  All benefits payable  hereunder shall be
deemed  100%  vested  and  non-forfeitable  by the  Participant  upon his or her
meeting the requirements  set forth at Sections 2.1, 2.2, 2.3 or 2.5 herein.  No
benefits shall be deemed payable hereunder for any period prior to the time that
such benefits shall be deemed 100% vested and non-forfeitable.

                                    ARTICLE V

                                   TERMINATION

     5.1  Termination.   All  the  rights  of  a  Participant   shall  terminate

                                       5

<PAGE>
immediately upon the Participant ceasing to be in the active service of the Bank
or the Company prior to the time that  benefits  payable under the Plan shall be
deemed to be 100% vested and  non-forfeitable  in accordance with Article IV. At
the sole discretion of the Committee,  a leave of absence  approved by the Board
shall not  constitute a cessation of service  within the meaning of this Section
5.1.

                                   ARTICLE VI

                               GENERAL PROVISIONS

     6.1  Other  Benefits.  Nothing  in this  Plan  shall  diminish  or impair a
Participant's eligibility,  participation or benefit entitlement under any other
benefit,  insurance or compensation plan or agreement of the Bank or the Company
now or hereinafter in effect.

     6.2 No Effect on  Employment  or Service.  This Plan shall not be deemed to
give any Participant or other person in the employ or service of the Bank or the
Company any right to be retained in the employment or service of the Bank or the
Company,  or to interfere with the right of the Bank or the Company to terminate
any Participant or such other person at any time and to treat him or her without
regard  to the  effect  which  such  treatment  might  have upon him or her as a
Participant in this Plan.

     6.3 Legally Binding. The rights, privileges, benefits and obligations under
this Plan are intended to be legal  obligations of the Bank and binding upon the
Bank, its successors and assigns.

     6.4 Modifications.  The Bank, by action of the Board of Directors, reserves
the  exclusive  right  to  amend,  modify,  or  terminate  this  Plan.  Any such
termination,  modification  or  amendment  shall not  terminate  or diminish any
rights or benefits  accrued by any  Participant  prior thereto without regard to
whether such rights or benefits shall be deemed vested as of such date. The Bank
shall give thirty (30) days  notice in writing to any  Participant  prior to the
effective  date of any  amendment,  modification  or  termination  of this Plan.
Notwithstanding  the  foregoing,  the  Plan  may not be  terminated  unless  the
termination complies with the applicable requirements of Section 409A.

     6.5 Arbitration. Any controversy or claim arising out of or relating to the
Plan or the breach thereof shall be settled by  arbitration  in accordance  with
the Commercial Arbitration Rules of the American Arbitration  Association,  with
such arbitration  hearing to be held at the offices of the American  Arbitration
Association  ("AAA")  nearest to the home office of the Bank,  unless  otherwise
mutually  agreed to by the Participant and the Bank, and judgment upon the award
rendered by the  arbitrator(s)  may be entered in any court having  jurisdiction
thereof.

     6.6  Limitation.  No  rights  of  any  Participant  are  assignable  by any
Participant  or  Beneficiary,  in whole  or in  part,  either  by  voluntary  or
involuntary  act  or by  operation  of  law.  The  rights  of a  Participant  or
Beneficiary  hereunder  are  not  subject  to  anticipation,  alienation,  sale,
transfer,  assignment,  pledge,  hypothecation,  encumbrance  or  garnishment by
creditors of the Participant or  Beneficiary.  Further,  a Participant's  rights
under  the  Plan  are  not  subject  to  the  debts,   contracts,   liabilities,
engagements,  or torts of any Participant.  No Participant or Beneficiary  shall
have any right  under this Plan or right  against  any assets  held or  acquired
pursuant thereto other than the rights of a general,  unsecured  creditor of the
Bank pursuant to the unsecured  promise of the Bank to pay the benefits  accrued
hereunder in accordance  with the terms of this Plan. The Bank has no obligation
under this Plan to fund or otherwise  secure its  obligations to render payments
hereunder to a Participant or Beneficiary.  No Participant or Beneficiary  shall

                                       6
<PAGE>

have any discretion in the use, disposition, or investment of any asset acquired
or set aside by the Bank to provide benefits under this Plan.

     6.7 ERISA and IRS Disclaimer. It is intended that the Plan be neither
an "employee welfare benefit plan" nor an "employee pension benefit plan" for
purposes of the Employee Retirement Income Security Act of 1974, as amended
("ERISA"). Further, it is intended that the Plan will not cause the interest of
a Participant under the Plan to be includable in the gross income of such
Participant prior to the actual receipt of a payment under the Plan for purposes
of the Code.

     6.8 Regulatory Matters.

          (a) The  Participant  or  Beneficiary  shall  have no right to receive
compensation  or other benefits in accordance with the Plan for any period after
termination  of service  for Just  Cause.  Termination  for "Just  Cause"  shall
include   termination   because  of  the  Participant's   personal   dishonesty,
incompetence,  willful  misconduct,  breach of fiduciary duty involving personal
profit,  intentional failure to perform stated duties,  willful violation of any
law, rule or regulation  (other than traffic  violations or similar offenses) or
final cease-and-desist order, or material breach of any provision of the Plan.

          (b) Notwithstanding anything herein to the contrary, any payments made
to a  Participant  or  Beneficiary  pursuant to the Plan shall be subject to and
conditioned  upon  compliance  with 12 USC  ss.1828(k) and 12 CFR 563.39 and any
regulations promulgated thereunder.

     6.9  Incompetency.  If the Bank  shall  find  that any  person  to whom any
payment  is  payable  under  the Plan is  deemed  unable  to care for his or her
personal affairs because of illness or accident, any payment due (unless a prior
claim therefor shall have been made by a duly appointed  guardian,  committee or
other legal  representative)  may be paid to the spouse, a child, a parent, or a
brother or sister,  or to any person deemed by the Bank to have incurred expense
for such person otherwise entitled to payment, in such manner and proportions as
the  Board  may  determine  in its  sole  discretion.  Any such  payments  shall
constitute a complete discharge of the liabilities of the Bank under the Plan.

     6.10  Construction.  The  Committee  shall have full power and authority to
interpret, construe and administer this Plan and the Committee's interpretations
and construction thereof, and actions thereunder shall be binding and conclusive
on all persons for all purposes.  Directors of the Bank or the Company shall not
be liable to any person for any action taken or omitted in  connection  with the
interpretation and administration of this Plan unless attributable to his or her
own willful, gross misconduct or lack of good faith.

     6.11 Plan  Administration.  The Board shall administer the Plan;  provided,
however,  that the Board may  appoint an  administrative  committee  (i.e.,  the
Committee) to provide administrative services or perform duties required by this
Plan. The Committee shall have only the authority granted to it by the Board.

     6.12  Governing  Law. This Plan shall be construed in  accordance  with and
governed  by the laws of the  State of New  Jersey,  except to the  extent  that
federal law shall be deemed to apply.

     6.13 Section 409A.  The Plan shall be  administered  and  interpreted  in a

                                       7
<PAGE>
manner consistent with Section 409A.

     6.14  Successors and Assigns.  The Plan shall be binding upon any successor
or successors of the Bank, and unless clearly inapplicable,  reference herein to
the Bank shall be deemed to include any successor or successors of the Bank.

     6.15 Sole  Agreement.  The Plan  expresses,  embodies,  and  supersedes all
previous agreements,  understandings,  and commitments, whether written or oral,
between the Bank and any Participants  hereto with respect to the subject matter
hereof.

                                       8

<PAGE>

     IN WITNESS  WHEREOF,  the Bank and the  Company  have caused the Plan to be
executed by its duly authorized officer.

                                             American Bank of New Jersey

6/19/2008                           By:      /s/ W. George Parker
-----------------------------                ----------------------------------
Date
                                    Title:   Chairman of the Board of Directors

6/19/2008                                   /s/ Kathleen Walsh
-----------------------------                ----------------------------------
Date                                        Witness

                                            American Bancorp of New Jersey, Inc.

6/19/2008                           By:      /s/ W. George Parker
----------------------------                 ----------------------------------
Date
                                    Title:   Chairman of the Board of Directors

6/19/2008                                    /s/ Kathleen Walsh
-----------------------------                ----------------------------------
Date                                         Witness

                                       9

<PAGE>

                                   SCHEDULE A

                           AMERICAN BANK OF NEW JERSEY
                             BLOOMFIELD, NEW JERSEY

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

                   DIRECTORS' CONSULTATION AND RETIREMENT PLAN

                     NOTICE OF RETIREMENT AND PARTICIPATION

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

     WHEREAS, the Board of Directors of American Bank of New Jersey, Bloomfield,
New Jersey  ("Bank")  has  previously  adopted the  American  Bank of New Jersey
Directors Consultation and Retirement Plan ("Plan"); and

     WHEREAS,  upon  retirement  as  a  Director,  I am  eligible  to  elect  to
participate in the Plan.

     My signature  below hereby  evidences my request to the Bank of my election
to participate in the Plan, as follows:

1.   This  election to  participate  in the Plan is being  delivered to the Bank
     effective ---------------------------;

2.   I hereby  resign  as a  director  of both the  Bank and the  Company  as of
     ___________________________ ("Retirement Date");

3.   Upon  retirement  from the  Board  as of the  Retirement  Date,  I shall be
     appointed as a Consulting Director to the Bank and the Company and shall be
     available  to advise the Bank and the Company from time to time on business
     and community relations matters as may be requested;

4.   As  a  Consulting  Director,  I  will  not  have  any  specific  duties  or
     responsibilities, except as may be specifically requested from time to time
     by the Board;

5.   Compensation  as a Consulting  Director shall be as specified at Article II
     of the Plan as a consulting retainer and retirement benefit;

6.   Any benefits payable in accordance with the Plan on or after my death shall
     be payable to my spouse if then living,  and my spouse's estate thereafter.
     If my spouse  should  predecease  me,  then upon my  death,  all  remaining
     benefit payments shall be payable to my estate;

7.   I understand that the above listed items  constitute the only benefits that
     shall be delivered to me as a Participant  in the Plan as further  detailed
     in the Plan.

                                      A-1

<PAGE>

Entered into on such date as noted below:

Accepted:         ___________________________________        __________________
                  Retiring Director                           Date

Accepted:         ___________________________________        __________________
                  For the Bank                                Date

Accepted:         ___________________________________        __________________
                  For the Company                             Date

                                      A-2

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00146-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00146-of-00352.parquet"}]]