Document:

<PAGE>
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                                                                   Exhibit 10.27

                    SCHEDULE OF OPTIONEES AND MATERIAL TERMS
                    OF AMENDED AND RESTATED OPTION AGREEMENTS

<TABLE>
<CAPTION>
OPTIONEES                 SHARES          GRANT       EXPIRATION        EXERCISE
                                          DATE           DATE             PRICE
<S>                       <C>            <C>          <C>               <C>
PATRICK M. FLYNN           15,000        2/1/2005      2/1/2010           34.00

ELDON D. DIETTERICK        12,000        2/1/2005      2/1/2010           34.00

RICHARD T. FREY             9,000        2/1/2005      2/1/2010           34.00

MARK DAUBERT                6,000        2/1/2005      2/1/2010           34.00

CARL V. KERSTETTER          3,000        2/1/2005      2/1/2010           34.00

CYNTHIA A. BARRON           6,000        2/1/2005      2/1/2010           34.00

CHRISTINE A. LIEBOLD        1,000        2/1/2005      2/1/2010           34.00
</TABLE>

Note: The options vest in three equal annual installments, commencing on
February 1, 2006.Exhibit 10.10 

SUSSEX BANK 
SALARY CONTINUATION
AGREEMENT 

        THIS
AGREEMENT is effective as of the 8th day of January, 2004, by and between
SUSSEX BANK, a state chartered Company located in Franklin, New Jersey (the
“Company”) and TERRY H. THOMPSON (the “Executive”). 

INTRODUCTION 

        To
encourage the Executive to remain an employee of the Company, the Company is willing to
provide salary continuation benefits to the Executive. The Company will pay the benefits
from its general assets. 

AGREEMENT 

        The
Executive and the Company agree as follows: 

Article 1 
Definitions 

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

        1.1
  “Change in Control” means any of the following:  

	 	(A) 	any
person (as such term is used in Sections 13d and 14d-2 of the Securities
               Exchange Act of 1934, as amended (the “Exchange Act”), other
than the                Corporation, a subsidiary of the Corporation, an employee benefit
plan (or                related trust) of the Corporation or a direct or indirect
subsidiary of the                Corporation, or Affiliates of the Corporation (as
defined in Rule 12b-2 under                the Exchange Act), becomes the beneficial
owner (as determined pursuant to Rule                13d-3 under the Exchange Act),
directly or indirectly, of securities of the                Corporation representing more
than 50% of the combined voting power of the                Corporation’s then
outstanding securities (other than a person owning 25%                or more of the
voting power of stock on the date hereof); or 

	 	(B) 	the
liquidation or dissolution of the Corporation or the occurrence of, or
               execution of an agreement providing for a sale of all or substantially all
of                the assets of the Corporation to an entity which is not a direct or
indirect                subsidiary of the Corporation; or 

	 	(C) 	the
occurrence of, or execution of an agreement providing for a reorganization,
               merger, consolidation or other similar transaction or connected series of
               transaction of the Corporation as a result of which either (a) the
Corporation                does not survive or (b) pursuant to which shares of the
Corporation common stock                (“Common Stock”) would be converted
into cash, securities or other                property, unless, in case of 

-1- 

	 	
either
(a) or (b), the holders of the Corporation Common Stock immediately prior to such
transaction will, following the consummation of the transaction, beneficially own,
directly or indirectly, more than 50% of the combined voting power of the then
outstanding voting securities entitled to vote generally in the election of directors of
the corporation surviving, continuing or resulting from such transaction; or  

	 	(D) 	the
occurrence of, or execution of an agreement providing for a reorganization,
               merger, consolidation or similar transaction of the Corporation, or before
any                connected series of such transaction, if upon consummation of such
transaction                or transactions, the persons who are members of the Board of
Directors of the                Corporation immediately before such transaction or
transactions cease or, in the                case of the execution of an agreement for
such transaction or transactions, it                is contemplated in such agreement
that upon consummation such persons would                cease to constitute a majority
of the Board of Directors of the Corporation or,                in the case where the
Corporation does not survive in such transaction, of the                corporation
surviving, continuing or resulting from such transaction or                transactions;
or 

	 	(E) 	any
other event which is at any time designated as a “Change in                Control” for
purposes of this Agreement by a resolution adopted by the                Board of
Directors of the Corporation with the affirmative vote of a majority of
               the non-employee directors in office at the time the resolution is
adopted, the                Change in Control event specified thereby shall be deemed
incorporated herein by                reference and thereafter may not be amended,
modified or revoked without the                written agreement of the Executive; or 

	 	(F) 	                during
any period of two consecutive years during the term of this Agreement,
               individuals who at the beginning of such period constitute the Board of
               Directors of the Company or Corporation cease for any reason to constitute
at                least a majority thereof, unless the election of each director who was
not a                director at the beginning of such period has been approved in
advance by                directors representing at least two-thirds of the directors
then in office who                were directors at the beginning of the period, provided
however this provision                shall not apply in the event two-thirds of the
Board of Directors at the                beginning of a period no longer are directors
due to death, normal retirement,                or other circumstances not related to a
Change in Control. 

        Notwithstanding
anything else to the contrary set forth in this Agreement, if (i) an agreement is executed
by the Corporation providing for any of the transactions or events constituting a Change
in Control as defined herein, and the agreement subsequently 

-2- 

expires or is terminated without the
transaction or event being consummated, and (ii) Executive’s employment did not
terminate during the period after the agreement and prior to such expiration or
termination, for purposes of this Agreement it shall be as though such agreement was never
executed and no Change in Control event shall be deemed to have occurred as a result of
the execution of such agreement. 

        1.2
“Code” means the Internal Revenue Code of 1986, as amended. 

        1.3
“Corporation” means Sussex Bancorp. 

        1.4
“Disability” means if the Executive is covered by a Company-sponsored
disability policy, total disability as defined in such policy without regard to any
waiting period. If the Executive is not covered by such a policy, Disability means the
Executive suffering a sickness, accident or injury which, in the judgment of a physician
satisfactory to the Company, prevents the Executive from performing substantially all of
the Executive’s normal duties for the Company. As a condition to receiving any
Disability benefits, the Company may require the executive to submit to such physical or
mental evaluations and tests as the Company’s Board of Directors deem appropriate. 

        1.5
“Early Retirement Age” means the date the Executive reaches
age 60 or older with 10 or more Years of Service. 

        1.6
“Early Retirement Date” means the month, day and year in
which Early Retirement occurs. 

        1.7
“Early Termination Date” means the month, day and year in
which Early Termination occurs. 

        1.8
“Effective Date” means January 1, 2004. 

        1.9 “Final
Pay” means the average of the reported W-2 compensation paid to the Executive
by the Company for the last five (5) full calendar years of employment. Any reductions to
compensation for elective deferrals under Section 401(k) or Section 125 of the Code shall
be added back in determining W-2 compensation. If the Executive has been with the Company
for less than 5 years, then the average of the compensation earned during the
Executive’s employment shall be used. 

        1.10
“Involuntary Early Termination” means that the Executive,
prior to Normal Retirement Age, has been notified in writing that employment with the
Company is terminated for reasons other than approved leave of absence, Termination for
Cause, Disability, or Change in Control. 

        1.11
“Normal Retirement Age” means the Executive’s
65th birthday. 

        1.12
“Normal Retirement Date” means the later of the Normal
Retirement Age or Termination of Employment. 

-3- 

        1.13
“Plan Year” means each twelve-month period commencing with the Effective Date of
this Agreement. 

        1.14
“Termination for Cause” See Section 5.2. 

        1.15 “Termination
of Employment” means that the Executive ceases to be employed by the
Corporation or any of its subsidiaries for any reason whatsoever other than by reason of a
leave of absence which is approved by the Company. 

        1.16
“Voluntary Termination” means that the Executive, prior to Normal
Retirement Age, has terminated employment with the Company for reasons other than
Termination for Cause, Disability, or Change in Control. 

        1.17
“Years of Service” means the total number of continuous
years of employment with the Corporation or any of its subsidiaries, inclusive of any
approved leaves of absences. 

Article 2
Lifetime Benefits 

        2.1
Normal Retirement Benefit. Upon Termination of Employment on or after
the Normal Retirement Age for reasons other than death, the Company shall pay to the
Executive the benefit described in this Section 2.1 in lieu of any other benefit under
this Agreement. 

	 	2.1.1 	Amount of Benefit. The
annual benefit under this Section 2.1 is 35 percent of Final Pay, as defined in Article
1.9, at the Normal Retirement Date. 

	 	2.1.2	Payment of Benefit. The
Company shall pay the annual benefit to the Executive in 12 equal monthly installments
payable on the first day of each month commencing with the month following the Executive’s
Normal Retirement Date. The annual benefit shall be paid for fifteen (15) years. 

        2.2
Involuntary Early Termination Benefit. Upon Involuntary Early
Termination, the Company shall pay to the Executive the Involuntary Early Termination
benefit described in this Section 2.2 in lieu of any other benefit under this Agreement. 

	 	
2.2.1
Amount of Benefit. The annual benefit under this Section 2.2 is
35 percent of Final Pay, as defined in Article 1.9, at the date of Termination of
Employment.  

-4- 

	 	
2.2.2
Payment of Benefit. The Company shall pay the annual benefit to the Executive in 12 equal
monthly installments payable on the first day of each month commencing with the month
following the Executive’s Termination of Employment. The annual benefit shall be
paid for fifteen (15) years.  

        2.3
Voluntary Early Retirement Benefit.Upon Voluntary Termination
on or after Early Retirement Age, but before Normal Retirement Age, the Company shall pay
to the Executive the benefit described in this Section 2.3 in lieu of any other benefit
under this Agreement. 

	  	        2.3.1
Amount of Benefit. The benefit under this Section 2.3 is the
Early Retirement Annual Benefit amount set forth in Schedule A for the Plan Year ended
immediately prior to the Early Retirement Date. 

	  	        2.3.2
Payment of Benefit. The Company shall pay the annual benefit
to the Executive in 12 equal monthly installments payable on the first day of each month
commencing with the month following the Early Retirement Date. The annual benefit shall be
paid for fifteen (15) years. 

        2.4
Voluntary Early Termination Benefit. If Voluntary
Termination of employment occurs prior to Early Retirement Age, the Executive will not be
entitled to a benefit under this Agreement. 

        2.5
Disability Benefit. If the Executive terminates employment due to
Disability prior to Normal Retirement Age, the Company shall pay to the Executive the
benefit described in this Section 2.4 in lieu of any other benefit under this Agreement. 

	  	        2.5.1
Amount of Benefit. The annual benefit under this Section 2.5
is 35 percent of Final Pay, as defined in Article 1.9, at the date of Termination of
Employment. 

	  	        2.5.2
Payment of Benefit. The Company shall pay the annual benefit
amount to the Executive in 12 equal monthly installments payable on the first day of each
month commencing with the month following Termination of Employment. The annual benefit
shall be paid for fifteen (15) years. 

        2.6
Change in Control Benefit.If the Executive is in the active
service of the Company at the time of a Change in Control, the Company shall pay to the
Executive the benefit described in this Section 2.6 in lieu of any other benefit under
this Agreement. 

	 	
2.6.1
Amount of Benefit. The annual benefit under this Section 2.6 is
35 percent of Final Pay, as defined in Article 1.9, at the date of Termination of
Employment.  

-5- 

	 	
2.6.2
Payment of Benefit. The Company shall pay the annual benefit
amount to the Executive in 12 equal monthly installments payable on the first day of each
month commencing with the month following Termination of Employment. The annual benefit
shall be paid for fifteen (15) years.  

Article 3 
Death Benefits 

        3.1
Death During Active Service. If the Executive dies
while in the active service of the Company, the Company shall pay to the Executive’s
beneficiary the benefit described in this Section 3.1. This benefit shall be paid in lieu
of the Lifetime Benefits of Article 2. 

	  	        3.11
Amount of Benefit. The annual benefit under this Section 3.1
is 35 percent (35%) of Final Pay, provided, however, in determining the Final Pay for
purposes of this section, that Executive’s salary in his last full calendar year of
employment shall be increased by 4% per year from such last full year of employment
through the Executive’s Normal Retirement Age, and the Executive’s Final Pay
shall be determined based upon the average of the Executive’s pay for five years
assuming that Executive had worked each year until his Normal Retirement Age and that his
compensation had been increased by such 4% amount annually. The annual benefit payable
under this Section 3.1.1 shall not exceed $75,000 per year. 

	  	        3.1.2
Payment of Benefit. The Company shall pay the annual benefit
to the beneficiary in 12 equal monthly installments payable on the first day of each month
commencing with the month following the Executive’s death. The annual benefit shall
be paid for fifteen (15) years. 

        3.2
Death During Benefit Period. If the Executive dies
after the benefit payments have commenced under this Agreement but before receiving all
such payments, the Company shall pay the remaining benefits to the Executive’s
beneficiary at the same time and in the same amounts they would have been paid to the
Executive had the Executive survived. 

        3.3
Death Following Termination of Employment but
Before Benefits Commence. If the Executive is entitled to benefits under
this Agreement, but dies prior to receiving said benefits, the Company shall pay to the
Executive’s beneficiary the same benefits, in the same manner, they would have been
paid to the Executive had the Executive survived; however, said benefit payments will
commence upon the Executive’s death. 

Article 4 
Beneficiaries 

-6- 

        4.1
Beneficiary Designations. The Executive shall designate a beneficiary
by filing a written designation with the Company. 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 Company 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 estate. 

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

Article 5 
General Limitations 

        5.1
Excess Parachute or Golden Parachute Payment.
Notwithstanding any provision of this Agreement to the contrary, the Company shall not pay
any benefit under this Agreement to the extent the benefit would be an excess parachute
payment under Section 280G of the Code or would be a prohibited golden parachute payment
pursuant to 12 C.F.R. §359.2 and for which the appropriate federal Companying agency
has not given written consent to pay pursuant to 12 C.F.R. §359.4. 

        5.2
Termination for Cause. Notwithstanding any provision of this
Agreement to the contrary, the Company shall not pay any benefit under this Agreement, if
the Company terminates the Executives employment for: 

	 	5.2.1 	Gross
negligence or gross neglect of duties; 

	 	5.2.2 	Commission
of a felony or of a gross misdemeanor involving moral turpitude; or 

	 	5.2.3 	Fraud,
disloyalty, dishonesty or willful violation of any law or significant Company policy
committed in connection with the Executive’s employment and resulting in an adverse
effect on the Company. 

        5.3
Removal. Notwithstanding the provisions of this Agreement to the contrary, the
Company shall not pay any benefit under this Agreement if the Executive is subject to a
final removal or prohibition order issued by an appropriate federal Companying agency
pursuant to Section 8(e) of the Federal Deposit Insurance Act. 

-7- 

        5.4
Competition After Termination of Employment. Executive
agrees that during the term of his employment hereunder and for a period of one (1) year
after the termination of his employment, he will not in any way, directly or indirectly,
manage operate, control, accept employment or consulting position with or otherwise advise
or assist or be connected with or own or have any other interest in or right with respect
to (other than through ownership of not more than five percent (5%) of the outstanding
shares of a corporation whose stock is listed on a national securities exchange or on the
National Association of Securities Dealers Automated Quotation System) any enterprise
which competes with the Company in the business of banking in the counties in which the
Company conducts its business on the date of the Executive’s termination. In the
event that this covenant not to compete shall be found by a court of competent
jurisdiction to be invalid or unenforceable as against public policy, such court shall
exercise discretion in reforming such covenant to the end that the Executive shall be
subject to a covenant not to compete that is reasonable under the circumstances and
enforceable by the Company. Executive agrees to be bound by any such modified covenant not
to compete. 

        5.5
Suicide or Misstatement. .No benefits shall be payable if the
Executive commits suicide within two years after the date of this Agreement, or if the
insurance company denies coverage for material misstatements of fact made by the Executive
on any application for life insurance purchased by the Company, or any other reason;
provided, however that the Company shall evaluate the reason for the denial, and upon
advice of legal counsel and in its sole discretion, consider judicially challenging any
denial. 

Article 6 
Claims and Review
Procedures 

        6.1
Claims Procedure. Any person or entity who has not received benefits under
this Agreement that he or she believes should be paid (“Claimant”) shall make a
claim for such benefits as follows:  

	 	        6.1.1
Initiation – Written Claim. The claimant by submitting to
the Company a written claim for the benefits.  

	 	        6.1.2. Timing of Company Response. The
Company shall                respond to such claimant within 90 days after receiving the
claim. If the                Company determines that special circumstances require
additional time for                processing the claim, the Company can extend the
response period by an                additional 90 days by notifying the claimant in
writing, prior to the end of the                initial 90-day period, that an additional
period is required. The notice of                extension must set forth the special
circumstances and the date by which the                Company expects to render its
decision  

	 	        6.1.3. Notice of Decision.
If the Company denies part or all of                the claim, the Company shall notify
the claimant in writing of such denial. The  

-8- 

	 	
Company shall write the notification in a manner calculated to the understood by the
claimant. The notification shall set forth:  

	 	
(a)
          The specific reasons for the denial,  

	 	
(b)
          A reference to the specific provision of the Agreement on which the denial is
          based,  

	 	
(c)
          A description of any additional information or material necessary for the
          claimant to perfect the claim and an explanation of why it is needed,  

	 	
(d)
          An explanation of the Agreement’s review procedures and the time limits
          applicable to such procedures, and  

	 	
(e)
          A statement of the claimant’s right to bring a civil action under ERISA
          Section 502(a) following an adverse benefit determination on review.  

        6.2
Review Procedure. If the Company denies part or all of the claim, the
claimant shall have the opportunity for a full and fair review by the Company of the
denial, as follows: 

	 	
6.2.1
Initiation Written Request. To initiate the review, the claimant, within 60 days after
receiving the Company’s notice of denial, must file with the Company a written
request for review.  

	 	
6.2.2 Additional Submissions – Information Access. The
claimant shall then have the opportunity to submit written comments, documents, records
and other information relating to the claim. The Company shall also provide the claimant,
upon request and free of charge, reasonable access to, and copies of, all documents,
records and other information relevant (as defined in applicable ERICA regulations) to
the claimant’s claim for benefits.  

	 	
6.2.3 Considerations on Review.
In considering the review, the Company shall take into account all materials and
information the claimant submits relating to the claim, without regard to whether such
information was submitted or considered in the initial benefit determination.  

	 	
6.2.4 Timing of Company Response.
The Company shall respond in writing to such claimant within 60 days after receiving the
request for review, If the Company determined that special circumstances require
additional time for processing the claim, the Company can extend the response period by
an additional 60 days by notifying the claimant in writing prior to the end of the
initial 60-day period, that an additional prior is required. The notice of extension must
set forth the special  

-9- 

	 	
circumstances and he date by which the Company expects to render
its decisions.
  

	 	
6.2.5 Notice of Decision.
The Company shall notify the claimant in writing of its decision on review. The Company
shall write the notification in a manner calculated to be understood by claimant. The
notification shall set forth:  

	 	(a) 	The
specific reasons for the denial,  

	 	(b) 	A
reference to the specific provisions of the Agreement on which the denial is
          based,  

	 	(c) 	A
statement that the claimant is entitled to receive, upon request and free of
          charge reasonable access to, and copies of, all documents, records and other
          information relevant (as defined in applicable ERISA regulations) to the
          claimant’s claim for benefits, and.  

	 	(d) 	A
statement of the claimant’s right to bring a civil action under ERISA
          Section 502(a).  

Article 7 
Amendments and
Termination 

        This
Agreement may be amended or terminated only by a written agreement signed by the Company
and the Executive, except as provided in Article 5. 

Article 8 
Miscellaneous 

        8.1
Binding Effect. This Agreement shall bind the Executive and the Company, and
their beneficiaries, survivors, executors, successors, administrators and transferees. 

        8.2
No Guarantee 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 Company, nor does it interfere with the Company’s right to discharge
the Executive. It also does not require the Executive to remain an employee not interfere
with the Executive’s right to terminate employment at any time. 

        8.3
Non-Transferability. Benefits under this Agreement cannot be sold, transferred,
assigned, pledged, attached or encumbered in any manner. 

        8.4
Reorganization. The Corporation shall not merge or consolidate into or with another
company, or reorganize or sell substantially all of its assets to another company, firm,
or person unless such succeeding or continuing company, firm or person 

-10- 

agrees to assume discharge the
obligations of the Corporation under this Agreement. Upon the occurrence of such event,
the term “Corporation” as used in this Agreement shall be deemed to refer to the
successor or survivor company. 

        8.5
Tax Withholding. The Company shall withhold any taxes that are required to
be withheld from the benefits provided under this Agreement. 

        8.6
Applicable Law. The Agreement and all rights hereunder shall be governed by
the Laws of the State of New Jersey, except to the extent preempted by the laws of the
United States of America; provided, however, that with respect to insurance policies owned
by the Company or any insurable interest issues, the laws of Delaware shall govern. 

        8.7
Unfunded Arrangement. The Executive and beneficiary are general unsecured
creditors of the Company for the payment of benefits under this Agreement. The benefits
represent the mere promise by the Company 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. Any insurance on the
Executive’s life is a general asset of the Company to which the Executive and
beneficiary have no preferred or secured claim. 

        8.8
Entire Agreement. This Agreement constitutes the entire agreement between
the Company and the Executive as to the subject matter hereof. No rights are granted to
the Executive by virtue of this Agreement other than those specifically set forth herein. 

        8.9
Administration. The Company shall have powers which are necessary to administer
this Agreement, including but not limited to: 

	 	8.9.1 	Interpreting
the provisions of the Agreement.  

	 	8.9.2 	Establishing
and revising the method of accounting for the  Agreement;

	 	8.9.3 	Maintaining
a record of benefit payments; and  

	 	8.9.4 	Establishing
rules and prescribing any forms necessary or desirable to administer the Agreement.  

        8.10
Named Fiduciary. The Company shall be the named fiduciary and plan
administrator under this Agreement. It may delegate to others certain aspects of the
management and operational responsibilities including the employment of advisors and the
delegation of ministerial duties to qualified individuals. 

        IN
WITNESS WHEREOF, the Executive and a duly authorize Company officer have signed this
Agreement. 

-11- 

		
	EXECUTIVE:	 	 	COMPANY:
	 	 
		 	 	SUSSEX COMPANY	 	 
	 	 
	Terry Thompson /s/	 	 	By: Donald Kovach /s/	 	 
		 	 	Title: Chairman and CEO	 	 

        By
execution hereof, Sussex Bancorp consents to and agrees to be bound by the terms and
conditions of this Agreement. 

		
	ATTEST:	 	 	SUSSEX BANCORP
	 	 
	 	 
	Mary Cannistra /s/	 	 	By: Donald Kovach /s/	 	 
	 	 	 	Title: Chairman and CEO	 	 

-12-

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