Document:

EXHIBIT 10(b)

                                SANDY SPRING BANK
                   SUPPLEMENTAL EXECUTIVE RETIREMENT AGREEMENT

         THIS AGREEMENT is made this 18th day of January, 2003 by and between
Sandy Spring Bank, a Maryland corporation with its main office in Olney,
Maryland (the "Bank"), and Hunter R. Hollar (the "Executive").

                                  INTRODUCTION

         To encourage the Executive to remain a senior officer of the Bank, the
Bank is willing to provide salary continuation benefits to the Executive. The
Bank will pay the benefits from its general assets.

                                    AGREEMENT

         The Executive and the Bank agree as follows:

                                    ARTICLE 1

                                   DEFINITIONS

         1.1 Definitions. Whenever used in this Agreement, the following words
and phrases shall have the meanings specified:

                  1.1.1 "Accrued Benefit" means the amount of liability for
         benefits to be paid under this Agreement recorded on the books of the
         Bank in accordance with Generally Accepted Accounting Principles and
         without reduction for any income tax benefit related thereto.

                  1.1.2    "Benefit Percentage" means 70%.

                  1.1.3    "Change in Control" means the earliest of:

                           a.       The acquisition by any entity, person or
                                    group (other than the acquisition by a
                                    tax-qualified retirement plan sponsored by
                                    Sandy Spring Bancorp, Inc. ("Bancorp") or
                                    the Bank) of beneficial ownership, as that
                                    term is defined in Rule 13d-3 under the
                                    Securities Exchange Act of 1934, of more
                                    than 25% of the outstanding capital stock of
                                    Bancorp or the Bank entitled to vote for the
                                    election of directors ("Voting Stock");

                           b.       The commencement by any entity, person, or
                                    group (other than Bancorp or the Bank, a
                                    subsidiary of Bancorp or the Bank, or a
                                    tax-qualified retirement plan sponsored by
                                    Bancorp or the Bank) of

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                                    a tender offer or an exchange offer for more
                                    than 20% of the outstanding Voting Stock of
                                    Bancorp or the Bank;

                           c.       The effective time of (i) a merger or
                                    consolidation of Bancorp or the Bank with
                                    one or more other corporations as a result
                                    of which the holders of the outstanding
                                    Voting Stock of Bancorp or the Bank
                                    immediately prior to such merger exercise
                                    voting control over less than 80% of the
                                    Voting Stock of the surviving or resulting
                                    corporation, or (ii) a transfer of
                                    substantially all of the property of Bancorp
                                    or the Bank other than to an entity of which
                                    Bancorp or the Bank owns at least 80% of the
                                    Voting Stock;

                           d.       Upon the acquisition by any entity, person,
                                    or group of the control of the election of a
                                    majority of the Bank's or Bancorp's
                                    directors;

                           e.       At such time that, during any period of two
                                    consecutive years, individuals who at the
                                    beginning of such period constitute the
                                    Board of Bancorp or the Bank (the
                                    "Continuing Directors") cease for any reason
                                    to constitute at least two-thirds thereof,
                                    provided that any individual whose election
                                    or nomination for election as a member of
                                    the Board was approved by a vote of at least
                                    two-thirds of the Continuing Directors then
                                    in office shall be considered a Continuing
                                    Director.

                  1.1.4 "Code" means the Internal Revenue Code of 1986, as
         amended. References to a Code section shall be deemed to be to that
         section as it now exists and to any successor provisions.

                  1.1.5 "Disability" means a physical or mental infirmity that
         impairs the Executive's ability to substantially perform the
         Executive's duties under this Agreement and that results in the
         Executive's becoming eligible for long-term disability benefits under a
         long-term disability plan maintained for Bank employees (or, if the
         Bank has no such plan in effect, that impairs the Executive's ability
         to substantially perform job duties for a period of one-hundred and
         eighty consecutive days). The Board of Directors of the Bank shall
         determine whether or not the Executive is and continues to be
         permanently disabled for purposes of this Agreement in good faith,
         based upon competent medical advice and other factors that it
         reasonably believes to be relevant. As a condition to any benefits, the
         Bank may require the Executive to submit to such physical or mental
         evaluations and tests as the Bank's Board of Directors deems
         appropriate.

                  1.1.6 "Early Retirement Date" means the date on which the
         Executive has both (a) attained age sixty and (b) completed ten Years
         of Service.

                  1.1.7 "Effective Date" means the date of the Agreement as set
         forth in paragraph one of this Agreement.

                  1.1.8 "Final Average Pay" means the Executive's three-year
         average cash compensation, determined by adding (a) the total base
         salary paid to the Executive for the thirty-six months preceding the
         date of termination (or other date specified in this Agreement) divided
         by three, and (b) one-third of the total cash bonuses (including,
         without limitation, bonuses awarded under the Bank's Stakeholders
         Program and similar programs) awarded to the Executive during the three
         calendar years preceding the date of termination (or other date
         specified in this Agreement). Final Average Pay shall not be reduced
         for any pay reduction contributions (x) to cash or deferred
         arrangements under Section 401(k) of the Code, (y) to a cafeteria plan
         under Section 125 of the Code, or (z) to a nonqualified deferred
         compensation plan. Final Average Pay shall not be increased by any
         reimbursed expenses, credits, or benefits under any plan of deferred
         compensation to which

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         the Bank contributes, or any additional cash compensation or
         compensation payable in a form other than cash.

                  1.1.9 "Good Reason" means the occurrence of any of the
         following without Executive's express written consent:

                           (a)      A material reduction in the Officer's
                                    responsibilities or authority in connection
                                    with the Officer's employment with Bancorp
                                    or the Bank;
                           (b)      Assignment to the Officer of duties of a
                                    nonexecutive nature or duties for which the
                                    Officer is not reasonably equipped by the
                                    Officer's skills and experience;
                           (c)      A reduction in salary or benefits contrary
                                    to the terms of this Agreement, or,
                                    following a Change in Control as defined in
                                    Section 1.1.3 of this Agreement, any
                                    reduction in salary or material reduction in
                                    benefits below the amounts to which the
                                    Officer was entitled prior to the Change in
                                    Control;
                           (d)      Termination of incentive and benefit plans,
                                    programs, or arrangements, or reduction of
                                    the Officer's participation to such an
                                    extent as to materially reduce their
                                    aggregate value below their aggregate value
                                    as of the Effective Date;
                           (e)      A requirement that the Officer's principal
                                    business office or principal place of
                                    residence be relocated outside any county in
                                    which the Bank has its main office, its
                                    branches, or its deposit taking Automatic
                                    Teller Machines; or the assignment to the
                                    Officer of duties that would reasonably
                                    require such a relocation;
                           (f)      A requirement that the Officer spend more
                                    than thirty normal working days away from
                                    any county in which the Bank has its main
                                    office, its branches, or its deposit taking
                                    Automatic Teller Machines during any
                                    consecutive twelve-month period; or
                           (g)      Failure to provide office facilities,
                                    secretarial services, and other
                                    administrative services to Officer which are
                                    substantially equivalent to the facilities
                                    and services provided to the Officer on the
                                    Effective Date (excluding brief periods
                                    during which office facilities may be
                                    temporarily unavailable due to fire, natural
                                    disaster, or other calamity).
                           (h)      In the event of a Change in Control as
                                    defined in Section 1.1.3 of this Agreement,
                                    Officer shall have the right to resign for
                                    any reason during the first sixty (60) days
                                    immediately following the first six months
                                    after the closing date of a definitive
                                    purchase and assumption agreement (as
                                    defined in such agreement), the execution of
                                    which brought about a Change in Control.

                  NOTWITHSTANDING THE FOREGOING: (I) A REDUCTION OR ELIMINATION
         OF THE EXECUTIVE'S BENEFITS UNDER ONE OR MORE BENEFIT PLANS MAINTAINED
         BY THE BANK AS PART OF A GOOD FAITH, OVERALL REDUCTION OR ELIMINATION
         OF SUCH PLAN OR PLANS OR BENEFITS THEREUNDER APPLICABLE TO ALL
         PARTICIPANTS IN A MANNER THAT DOES NOT DISCRIMINATE AGAINST THE
         EXECUTIVE (EXCEPT AS SUCH DISCRIMINATION MAY BE NECESSARY TO COMPLY
         WITH LAW) SHALL NOT CONSTITUTE AN EVENT OF GOOD REASON OR A MATERIAL
         BREACH OF THIS AGREEMENT, PROVIDED THAT BENEFITS OF THE TYPE OR TO THE
         GENERAL EXTENT AS THOSE OFFERED UNDER SUCH PLANS PRIOR TO SUCH
         REDUCTION OR ELIMINATION ARE NOT AVAILABLE TO OTHER OFFICERS OF THE
         BANK OR ANY COMPANY THAT CONTROLS EITHER OF THEM UNDER A PLAN OR PLANS
         IN OR UNDER WHICH THE EXECUTIVE IS NOT ENTITLED TO PARTICIPATE, AND
         RECEIVE BENEFITS, ON A FAIR AND NONDISCRIMINATORY BASIS.

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                  A termination with Good Reason means a Termination of
         Employment by the Executive by written notice to the Bank, which notice
         may be immediately effective, given within ninety days of the event of
         Good Reason.

                  1.1.10 "Insurance Policy" means a single premium life
         insurance policy which may be acquired by the Bank, in its sole
         discretion, as sole owner, on the life of the Executive in connection
         with this Agreement.

                  1.1.11 "Just Cause" means, as determined in good faith by the
         Bank's Board of Directors, the Executive's:

                           (a) Personal dishonesty;
                           (b) Willful misconduct;
                           (c) Breach of fiduciary duty involving personal
                               profit;
                           (d) Intentional failure to perform duties under this
                               Agreement;
                           (e) Other, continuing material failure to perform
                               duties assigned to the Officer under this
                               Agreement after reasonable notification (which
                               shall be stated in writing and given at least
                               fifteen days prior to termination) by the Board
                               of such failure;
                           (f) Willful violation of any law, rule or regulation
                               (other than traffic violations or similar
                               offenses) or final cease-and-desist order; or
                           (g)  Material breach by the Officer of any provision
                                of this Agreement or an Employment Agreement to
                                which the Officer and the Bank are parties.

                  1.1.12 "Normal Retirement Date" means the date on which the
         Executive has both (a) attained age sixty-five and (b) completed ten
         Years of Service.

                  1.1.13 "Termination of Employment" means the Executive's
         ceasing to be employed by the Bank for any reason whatsoever, voluntary
         or involuntary, other than by reason of an approved leave of absence.

                  1.1.14 "Years of Service" means the total number of
         twelve-month periods during which the Executive is employed on a
         full-time basis by the Bank prior to and after the date of this
         Agreement, inclusive of any approved leaves of absence.

                                    ARTICLE 2
                                LIFETIME BENEFITS

         2.1 Normal Retirement Benefit. If the Executive terminates employment
on or after the Normal Retirement Date for reasons other than death, the Bank
shall pay the Executive the benefit described in this Section 2.1.

                  2.1.1. Amount of Benefit. The benefit under this Section 2.1
         is one-twelfth of the Executive's Final Average Pay multiplied by the
         Benefit Percentage, which product is reduced by:

                           2.1.1.1 Social Security Benefits. One-half of the
                  amount of monthly unreduced primary (not family) retirement
                  benefits under the United States Social Security Act that the
                  Executive would be eligible for if application were made as of
                  the Executive's sixty-fifth birthday, assuming that the
                  Executive had earnings at or above the maximum contribution
                  and benefit base under Section 230 of the United States Social
                  Security Act for the Executive's working career; and

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                           2.1.1.2 Bank's Qualified Pension Plan Benefits. The
                  straight life, monthly payment, annuity benefit the Executive
                  would be entitled to receive under the Bank's qualified
                  pension plan as of the Executive's Termination of Employment.

                           2.1.1.3 Prior Employer's Pension Plan Benefits. The
                  straight life, monthly payment, annuity benefit the Executive
                  would be entitled to receive as of the Executive's Termination
                  of Employment because of employment by any and all other banks
                  or companies prior to the Executive's full time employment by
                  the Bank under any and all qualified, defined benefit pension
                  plans maintained by any and all such other banks or companies.

                           2.1.1.4 Bank's Qualified 401(k) and Profit Sharing
                  Plan. The straight life, maximum monthly payment, fifteen-year
                  annuity that may be purchased at the date of Termination from
                  an issuer rated superior by A.M. Best (or, in the Bank's
                  discretion, with an equivalent rating from another rating
                  organization of similar reputation) for cash equal to the
                  value of the Executive's account at the date of Termination
                  under the Bank's Cash and Deferred Profit Sharing Plan and
                  Trust (or any successor plan) attributable to Bank
                  contributions, including the earnings thereon.

                  2.1.2 Payment of Benefit. The Bank shall pay the benefit to
         the Executive on the first day of each month commencing with the month
         following the Termination of Employment and continuing until the later
         of the Executive's death or the payment of one-hundred and seventy-nine
         additional monthly payments.

         2.2. Early Retirement Benefit. If the Executive terminates employment
on or after the Early Retirement Date but before the Normal Retirement Date, and
for reasons other than death or Disability, the Bank shall pay to the Executive
the benefit described in this Section 2.2.

                  2.2.1 Amount of Benefit. The benefit under this Section 2.2 is
         the amount of the Accrued Benefit at the date of such early retirement
         divided by one-hundred and eighty.

                  2.2.2 Payment of Benefit. The Bank shall pay the benefit to
         the Executive on the first day of each month commencing with the month
         following the Executive's Termination of Employment and continuing
         until the later of the Executive's death or the payment of one-hundred
         and seventy-nine additional monthly payments.

         2.3 Disability Benefit. If the Executive's employment is terminated for
Disability prior to the Normal Retirement Date, the Bank shall pay to the
Executive the benefit described in this Section 2.3.

                  2.3.1 Amount of Benefit. The benefit under this Section 2.3 is
         the amount of the Accrued Benefit at the date of such early retirement
         divided by one-hundred and eighty.

                  2.3.2 Payment of Benefit. The Bank shall pay the benefit to
         the Executive on the first day of each month commencing with the month
         following the Executive's Termination of Employment and continuing
         until the later of the Executive's death or the payment of one-hundred
         and seventy-nine additional months.

         2.4 Change in Control Benefits. If within the period beginning six
months prior to and ending two years after a Change in Control, (a) the Bank
shall terminate the Executive's employment without Just Cause, or (b) the
Executive shall terminate his employment with Good Reason, the Bank shall pay to
the Executive the benefit described in this Section 2.4 in lieu of any other
benefit under this Agreement.

                  2.4.1 Amount of Benefit. The benefit under this Section 2.4 is
         the Normal Retirement Benefit described in Section 2.1 calculated as if
         the date of Termination of Employment were the

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         Executive's Normal Retirement Date, or, if elected by the Executive
         pursuant to Section 2.4.2.1, the Early Retirement Benefit described in
         Section 2.4.1 calculated as if the date of Termination of Employment
         were the Executive's Early Retirement Date.

                  2.4.2    Payment of Benefits.

                           2.4.2.1 Approved Change in Control. If the Change in
                  Control was approved in advance by a majority of the
                  Continuing Directors, the Bank shall pay the benefit to the
                  Executive on the first day of each month commencing with the
                  month following the day on which: (i) the Executive attains
                  age sixty-five, or, if the Executive so elects in writing
                  within ten days of Termination of Employment, (ii) the
                  Executive attains age sixty, and, in either case, continuing
                  until the later of the Executive's death or the payment of
                  one-hundred and seventy-nine additional monthly payments.

                           2.4.2.2 Unapproved Change in Control. If the Change
                  in Control was not approved in advance by a majority of the
                  Continuing Directors, the Bank shall pay the benefit to the
                  Executive on the first day of each month commencing with the
                  month following the Termination of Employment and continuing
                  until the later of the Executive's death or one-hundred and
                  seventy-nine (179) additional monthly payments.

         2.5. Vested Benefits following Other Terminations. Subject to Section
2.4, if (i) the Executive voluntarily terminates employment before the Early
Retirement Date for reasons other than Death or Disability, or (ii) the Bank
terminates the Executive's Employment without Just Cause, the Bank shall pay to
the Executive the benefits described in this section.

                           2.5.1 Amount of Benefit. The benefit under this
         Section 2.5 is the straight life, maximum monthly payment, fifteen-year
         annuity beginning on the first day of the month following the date on
         which (i) the Executive attains age sixty-five, or, if the Executive so
         elects in writing within ten days of Termination of Employment, (ii)
         the Executive attains age sixty, that may be purchased in the two
         months following the date of Termination from an issuer rated superior
         by A.M. Best (or, in the Bank's discretion, with an equivalent rating
         from another rating organization of similar reputation) for cash equal
         to the amount of the vested Accrued Benefit at the date of such
         termination.

                           2.5.2 Vested Accrued Benefit. For purposes of this
         section 2.5, only, the Accrued Benefit shall vest in accordance with
         the following schedule:

                            Years of           Percentage of Accrued
                            Service            Benefit That Is Vested
                            -------            ----------------------
                                <4                      0%
                                 4                     20%
                                 5                     25%
                                 6                     30%
                                 7                     35%
                                 8                     40%
                                 9                     45%
                                10                     50%
                                11                     60%
                                12                     70%
                                13                     80%
                                14                     90%
                                15                    100%

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                           2.5.3 Payment of Benefit. The Bank shall pay the
         monthly benefit (or cause such benefit to be paid) to the Executive, or
         his beneficiary after the Executive's death, on the first day of each
         month commencing with the month following the month in which the
         Executive attains (i) age sixty-five, or if elected by the Executive
         pursuant to section 2.5.2. (ii) age sixty. The Bank may, in its sole
         discretion, purchase such an annuity for or transfer its ownership
         rights to the Executive in settlement of this obligation, in which case
         all of the Bank's obligations under this Agreement shall immediately
         terminate.

                                    Article 3
                                 Death Benefits

         3.1 Death During Active Service. If the Executive dies while in the
active service of the Bank, the Bank shall pay to the Executive's beneficiary
the benefit described in this Section 3.1.

                  3.1.1 Insurance Policy in Effect. If the Executive dies while
         the Insurance Policy is validly in effect, the benefit under Section
         3.1 is the greater of (i) the lifetime benefit that would have been
         paid to the Executive under Section 2.1 calculated as if the date of
         the Executive's death were the Normal Retirement Date, or (ii) the
         straight life, maximum monthly payment, fifteen-year annuity, for
         payments beginning the month following the Executive's death, that
         could be purchased from an issuer rated superior by A.M. Best (or, in
         the Bank's discretion, with an equivalent rating from another rating
         organization of similar reputation) for cash equal to three times the
         Executive's Final Average Pay.

                  3.1.2 Insurance Policy Not in Effect. If the Executive dies
         while the Insurance Policy is not validly in effect, the benefit under
         Section 3.1 is the Accrued Benefit at the date of the Executive's death
         divided by one-hundred and eighty.

                  3.1.3 Payment of Benefit. The Bank shall pay the benefit to
         the Beneficiary on the first day of each month commencing with the
         month following the Executive's death and continuing for one-hundred
         and seventy-nine additional months.

                                    ARTICLE 4
                                  BENEFICIARIES

         4.1 Beneficiary Designations. The Executive shall designate a
beneficiary by filing a written designation with the Bank. The Executive may
revoke or modify the designation at any time by filing a new designation.
However, designations will only be effective if signed by the Executive and
accepted by the Bank during the Executive's lifetime. The Executive's
beneficiary designation shall be deemed automatically revoked if the beneficiary
predeceases the Executive, or if the Executive names a spouse as beneficiary and
the marriage is subsequently dissolved. If the Executive dies without a valid
beneficiary designation, all payments shall be made to the Executive's surviving
spouse, if any, and if none, to the Executive's surviving children and to the
descendants of any deceased child by right of representation, and if no children
or descendants survive, to the Executive's estate.

         4.2 Facility of Payment. If a benefit is payable to a minor, to a
person declared incompetent, or to a person incapable of handling the
disposition of his or her property, the Bank may pay such benefit to the
guardian, legal representative, or person having the care or custody of such
minor, incompetent person, or incapable person. The Bank may require proof of
incompetency, minority, or guardianship as it may deem appropriate prior to the
distribution of the benefit. Such distribution shall completely discharge the
Bank from all liability with respect to such benefit.

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                                    ARTICLE 5
                   ADJUSTMENT OF CERTAIN PAYMENTS AND BENEFITS

         The Bank shall indemnify and hold the Officer harmless from any and all
loss, expense, or liability that the Officer may ever incur under Code ss. 4999,
or any successor provision, as the result of payments or benefits that the
Officer receives from the Bank or any successor to any of its interests. The
Bank shall have this obligation with respect to any excise taxes (and any
federal, state, and local income taxes on those excise taxes) for which the
Officer is liable under Code ss. 4999, or any successor provision, pursuant to a
tax return on which the Officer reports such excise tax liability based on a
reasonable analysis (that the Officer need not file with the return) prepared by
the Officer's legal counsel. This paragraph shall survive termination or
expiration of this Agreement for any reason.

                                    ARTICLE 6
                               GENERAL LIMITATIONS

         Notwithstanding any provision of this Agreement to the contrary, the
Bank shall not pay any amount of any benefit under this Agreement:

         6.1 Termination for Cause. If the Bank terminates the Executive's
employment for Just Cause.

         6.2 Suicide. No benefits shall be payable if the Executive commits
suicide within two years after the date of this Agreement, or if the Executive
has made any material misstatement of fact on any application for the Insurance
Policy.

                                    ARTICLE 7
                          CLAIMS AND REVIEW PROCEDURES

         7.1 Claims Procedures. The Bank shall notify the Executive's
beneficiary in writing, within ninety days of his or her written application for
benefits, of his or her eligibility or noneligibility for benefits under the
Agreement. If the Bank determines that the beneficiary is not eligible for
benefits or full benefits, the notice shall set forth (a) the specific reasons
for such denial, (b) a specific reference to the provisions of the Agreement on
which the denial is based, (c) a description of any additional information or
material necessary for the claimant to perfect his or her claim, and a
description of why it is needed, and (d) an explanation of the Agreement's
claims review procedure and other appropriate information as to the steps to be
taken if the beneficiary wishes to have the claim reviewed. If the Bank
determines that there are special circumstances requiring additional time to
make a decision regarding eligibility for benefits, the Bank shall notify the
beneficiary of the special circumstances and the date by which a decision is
expected to be made, and may extend the time by which notice may be given of
such decision for up to an additional ninety-day period.

         7.2 Review Procedure. If the beneficiary is determined by the Bank not
to be eligible for benefits, or if the beneficiary believes that he or she is
entitled to greater or different benefits, the beneficiary shall have the
opportunity to have such claim reviewed by the Bank by filing a petition for
review with the Bank within sixty days after receipt of the notice issued by the
Bank. Such petition shall state the specific reasons that the beneficiary
believes entitle him or her to benefits or to greater or different benefits.
Within sixty days after receipt by the Bank of the petition, the Bank shall
afford the beneficiary (and counsel, if any) an opportunity to present his or
her position to the Bank orally or in writing, and the beneficiary (or counsel)
shall have the right to review the pertinent documents. The Bank shall notify
the beneficiary of its decision in writing within the sixty-day period, stating
specifically the basis of its decision, written in a manner calculated to be
understood by the beneficiary, and the specific provisions of the Agreement on
which the decision is based. If, because of the need for a hearing, the
sixty-day period is not sufficient, notice of such decision may be deferred for
up to another sixty-day period at the election of the Bank, but notice of this
deferral shall be given to the beneficiary.

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                                    ARTICLE 8
                           AMENDMENTS AND TERMINATION

         This Agreement may be amended or terminated only by a written agreement
signed by the Bank and the Executive. This Agreement shall supersede any prior
Agreement, which shall be deemed terminated by agreement of the parties
immediately prior to the Effective Date.

                                    ARTICLE 9
                                  MISCELLANEOUS

         9.1 Binding Effect. This Agreement shall bind the Executive and the
Bank, and their beneficiaries, survivors, executors, administrators, and
transferees.

         9.2 No Guaranty of Employment. This Agreement is not an employment
policy or contract. It does not give the Executive the right to remain an
employee of the Bank, nor does it interfere with the Bank's right to discharge
the Executive. It also does not require the Executive to remain an employee nor
interfere with the Executive's right to terminate employment at any time.

         9.3 Non-Transferability. Benefits under this Agreement cannot be sold,
transferred, assigned, pledged, attached, or encumbered in any manner.

         9.4 Tax Withholding. The Bank shall withhold any taxes that are
required to be withheld from the benefits provided under this Agreement.

         9.5 Applicable Law. The Agreement and all rights hereunder shall be
governed by the laws of the State of Maryland, except to the extent preempted by
the laws of the United States of America.

         9.6 Unfunded Arrangement. The Executive and beneficiary are general
unsecured creditors of the Bank for the payment of benefits under this
Agreement. The benefits represent the mere promise by the Bank to pay such
benefits. The rights to benefits are not subject in any manner to anticipation,
alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or
garnishment by creditors. The Insurance Policy and any other insurance on the
Executive's life in which the Bank has an interest is a general asset of the
Bank to which neither the Executive nor any beneficiary has any preferred or
secured claim of any kind, and does not represent funding for the benefit under
this Agreement. Any representation or assertion contrary to this section 8.6 is
a material breach of this Agreement by the representing or asserting party,
which, if such party is the Executive or, following his death, a beneficiary,
shall immediately result in the cessation of any and all payments and the
elimination of any liability hereunder for any payment not made prior to such
assertion or representation, and, if such party is the Bank, shall subject it to
liability for actual damages for such breach.

         9.7 Non-Competition Provisions. Regardless of anything herein to the
contrary, except in the case of a Termination of Employment by the Bank without
Just Cause, a Termination of Employment by the Executive with Good Reason, or
with the permission of the Bank, during the two years immediately following the
Executive's Termination of Employment, the Executive shall not serve as an
officer or director or employee of any bank holding company, bank, savings
association, savings and loan holding company, or mortgage company (any of
which, a "Financial Institution") which Financial Institution offers products or
services competing with those offered by the Bank from offices in any county in
the State of Maryland or of any other State in which the Bank or any of its
affiliates has a branch, and shall not interfere with the relationship of the
Bank and any of its employees, agents, or representatives; provided, however,
that the provisions of this noncompetition clause shall only apply to
termination of the Officer "before" a Change in Control as defined in Section
1.1.3. (It being the intent of the parties that the noncompetition clause shall
not apply to terminations resulting from or due to a Change in Control). In the
event of any breach by the

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Executive of this COVENANT NOT TO COMPETE, the Board of Directors of the Bank
shall direct that any unpaid balance of any payments to the Executive under this
Agreement be suspended, and shall thereupon notify the Executive of such
suspension, in writing. Thereupon, if the Board of Directors of the Bank shall
determine that such breach by the executive exists at any time after a period of
one month following notification of the such suspension, all rights of the
Executive and his beneficiary under this agreement, including rights to any and
all further payments hereunder, shall thereupon terminate.

         9.8 Successors. This Agreement shall inure to the benefit of and be
binding upon any corporate or other successor of the Bank which shall acquire,
directly or indirectly, by merger, consolidation, purchase or otherwise, all or
substantially all of the assets or stock of the Bank.

         IN WITNESS WHEREOF, the Executive and a duly authorized Bank officer
have signed this Agreement.

EXECUTIVE                                SANDY SPRING BANK

  /s/ Hunter R. Hollar                   BY   /s/ W. Drew Stabler
  -----------------------------               ----------------------------
                                         TITLE    Chairman
                                              -----------------------------

                                       10EXHIBIT 4.1
                                                                     -----------

                                                               CUSIP 461868 10 1
                                   INYX, INC.

               INCORPORATED UNDER THE LAWS OF THE STATE OF NEVADA

                                                               SEE REVERSE FOR
                                  COMMON STOCK               CERTAIN DEFINITIONS

                                    SPECIMEN

This
certifies
that

is the owner of

 FULLY PAID AND NON-ASSESSABLE SHARES OF THE COMMON STOCK, $0.001 PAR VALUE, OF
                                   INYX, INC.

(hereinafter  called  the  "Corporation"),  transferable  on  the  books  of the
Corporation by the holder hereof in person or by duly authorized attorney,  upon
surrender of the Certificate properly endorsed.  This certificate and the shares
represented hereby are issued and shall be held subject to all the provisions of
the Certificate of Incorporation  and the Bylaws of the Corporation,  as amended
(copies of which are on file at the  office of the  Transfer  Agent),  to all of
which  the  holder  of this  Certificate  by  acceptance  hereof  assents.  This
Certificate  is not valid unless  countersigned  and  registered by the Transfer
Agent and  Registrar.  Witness  the  facsmile  seal of the  Corporation  and the
facsimile signatures of its duly authorized officers.

DATE:

                            [CORPORATE SEAL OMITTED]

                               Countersigned:
PRESIDENT                                    SECURITIES TRANSFER CORPORATION
                                             P.O. Box 701629
                                             Dallas, TX 75370
                                          By:

SECRETARY                                    ___________________________________
                                             TRANSFER AGENT-AUTHORIZED SIGNATURE

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