Document:

AMENDED AND RESTATED SUPPLEMENTAL EXECUTIVE
                                 RETIREMENT PLAN

                                  EXHIBIT 10.7
<PAGE>

                          WILMINGTON TRUST CORPORATION
                     SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

                                    Article I

Purpose and Effective Date...................................................1

                                   Article II
                                   Definitions

2.01  "Administrator" .......................................................1
2.02  "Average Monthly Compensation" ........................................1
2.03  "Board" ...............................................................1
2.04  "Code" ................................................................1
2.05  "Company" .............................................................1
2.06  "Compensation" ........................................................1
2.07  "Early Retirement" ....................................................2
2.08  "Employee" ............................................................2
2.09  "Normal Retirement" ...................................................2
2.10  "Participant" .........................................................2
2.11  "Pension Plan" ........................................................2
2.12  "Plan" ................................................................2
2.13  "Plan Year" ...........................................................2
2.14  "Postponed Retirement" ................................................2
2.15  "Social Security Taxable Wage Base" ...................................2
2.16  "Trust" ...............................................................2
2.17  "Year of Participation" ...............................................3

                                   Article III
              Eligibility for and Forfeiture of Plan Participation

3.01  Commencement of Participation..........................................3
3.02  Termination for Cause..................................................3
3.03  Competition with Company...............................................3
3.04  Board Discretion.......................................................3
3.05  Change in Control......................................................3

                                   Article IV
                        Types of Retirement and Elections

4.01  Early Retirement.......................................................5
4.02  Normal Retirement......................................................5
4.03  Postponed Retirement...................................................5
4.04  Notice of Early Normal or Postponed Retirement.........................6
4.05  Commencement of Benefits in Pension Plan...............................6

                                       i
<PAGE>

                                    Article V
                                Form of Benefits

5.01  Form of Retirement Benefits............................................6
5.02  Right to Elect.........................................................6
5.03  No Death or Disability Benefits........................................6

                                   Article VI
                 Computation and Payment of Retirement Benefits

6.01  Monthly Retirement Benefit.............................................7
6.02  Pension Plan Offset....................................................7
6.03  Supplemental Benefits..................................................7
6.04  Early Retirement Reduction.............................................7

                                   Article VII
                                     Vesting

7.01  Vesting Over 15 Years of Participation.................................7
7.02  Vesting At 55 Years of Age and 10 Years of Participation...............8

                                  Article VIII
                               Plan Administration

8.01  Appointment of Administrator...........................................8
8.02  Authority of Administrator.............................................8
8.03  Expenses of Administrator..............................................8
8.04  Payment of Benefits....................................................8
8.05  Sufficiency of Assets in Trust.........................................8
8.06  Contributions to Trust/Investment of Trust Assets......................8
8.07  Indemnification........................................................8

                                   Article IX
                                  Contributions

9.01  Company Contributions..................................................8

                                    Article X
                             Maintenance of Accounts

10.01 Separate Accounts......................................................9
10.02 No Interest in Assets..................................................9

                                       ii
<PAGE>

                                   Article XI
                      Amendment and Termination of the Plan

11.01 Board Amendment or Termination.........................................9

                                   Article XII
                                  Miscellaneous

12.01 Anti-Alienation........................................................9
12.02 No Right to Continue Employment.......................................10
12.03 Applicable Law........................................................10
12.04 Headings..............................................................10

                                      iii
<PAGE>

                          WILMINGTON TRUST CORPORATION
                     SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

                                    Article I
                                    ---------
PURPOSE AND EFFECTIVE DATE

      The Wilmington Trust Corporation Supplemental Executive Retirement Plan is
the former Wilmington Trust Company Supplemental Executive Retirement Plan as
amended and adopted by Wilmington Trust Corporation. The purpose of this Plan is
to provide supplemental retirement benefits to certain senior management
officers of the Company selected for Membership by the Company's Board of
Directors. Benefits provided by this Plan are intended to supplement benefits
provided by the Wilmington Trust Pension Plan. This Plan is intended to be an
Excess Benefit Plan as defined in Section 3(36) of the Employee Retirement
Income Security Act of 1974 and is designed for the sole purpose of providing
supplemental retirement benefits to certain selected employees in excess of the
limitations imposed by Section 415 of the Internal Revenue Code of 1986. This
Plan and its attendant Trust were effective January 1, 1989 and the Plan was
amended from time to time. The Company now amends this Plan effective January 1,
2000.

ARTICLE II
                                   Definitions
                                   -----------

      The terms used in this Plan shall have the same meaning as ascribed to
them in the Pension Plan unless they are specifically defined differently below.

      2.01. "Administrator" - means the group or individual appointed by the
Company pursuant to Section 8.01.

      2.02. "Average Monthly Compensation" - means a Participant's Compensation
determined under Section 2.06 below for the final sixty (60) months of the
Participant's employment with the Company divided by sixty (60).

      2.03. "Board" - means the Board of Directors of Wilmington Trust
Corporation and any designated committee thereof to which it delegates its
authority and discretion hereunder.

      2.04. "Code" - means the Internal Revenue Code of 1986 as amended from
time to time.

      2.05. "Company" - means Wilmington Trust Corporation, a Delaware
Corporation, and any wholly-owned subsidiary of Wilmington Trust Corporation.

      2.06. "Compensation" - means the salary or wages of, and bonuses and
incentive payments, including but not limited to 100% of all awards under the
Wilmington Trust Company Executive Incentive Compensation Plan, to a Participant
paid by the Company as reported on Form W-2 or any substitute therefore,

                                       1
<PAGE>

increased by any amounts deferred by the Participant under the Wilmington Trust
Thrift Savings Plan and increased by amounts attributable to salary reduction
under the Wilmington Trust Best Plan to the extent such amount is not included
in taxable income, and reduced by (i) any imputed amounts under the Code, and
regulations issued pursuant thereto, and (ii) amounts attributable to moving and
travel expenses, and tuition payments. Income realized by a Participant from the
exercise of any stock options shall not be considered part of a Participant's
compensation for purposes of this Plan.

      In the year in which a Participant's employment terminates, any bonuses or
incentive payments paid to the Participant after the Participant's employment
terminates shall be attributed to the Participant's last month of employment.
Vacation time that has been accrued but not taken shall not be taken into
account for either service or compensation purposes.

      2.07. "Early Retirement" - means the earliest date on which a Participant
is eligible to receive early retirement benefits under the Pension Plan.

      2.08. "Employee" - means any individual employed by the Company in a
senior policy making position.

      2.09. "Normal Retirement" - means the date on which a Participant attains
age 62 and completes at least five years of participation in the Plan.

      2.10. "Participant" - means those Employees selected by the Board for
participation in this Plan.

      2.11. "Pension Plan" - means the Wilmington Trust Pension Plan, as amended
from time to time.

      2.12. "Plan" - means the Wilmington Trust Corporation Supplemental
Executive Retirement Plan.

      2.13. "Plan Year" - means the period beginning on January 1, and ending on
December 31 of each year.

      2.14. "Postponed Retirement" - means the date after a Participant's Normal
Retirement on which the Participant can elect to receive retirement benefits
from the Pension Plan.

      2.15. "Social Security Taxable Wage Base" - means the amount of Earnings,
as determined under the Social Security Act each year, subject to the Social
Security OASDI tax for Old Age, Survivors and Disability Income benefits.

      2.16. "Trust" - means the depository adopted by the Company to hold the
assets used to pay Plan benefits.

                                       2

<PAGE>

      2.18. "Year of Participation" - means, for any Participant, the 12 month
period measured from the date that an employee becomes a Participant in the Plan
and each anniversary thereafter.

                                        ARTICLE III
                    Eligibility for and Forfeiture of Plan Participation
                    ----------------------------------------------------

      3.01. COMMENCEMENT OF PARTICIPATION. An Employee shall become a
Participant in this Plan if selected for participation by the Board, in its sole
and absolute discretion. The Board shall document the selection of an Employee
as a Participant in the Plan by a written resolution of the Board. The name of
each Employee selected by the Board to participate in the Plan shall be set
forth on Schedule I hereto.

      3.02. TERMINATION FOR CAUSE. A Participant shall cease to be a Participant
and shall forfeit the right to any benefits under this Plan if the employment of
the Participant with the Company is terminated for Cause. For purposes of this
Agreement, a Participant's employment is terminated for Cause if the Participant
(a) engaged in gross misconduct, dishonesty, or deliberate and premeditated acts
against the interest of the Company, (b) is convicted of a felony whether
related or unrelated to employment by the Company, or (c) repeatedly and
substantially failed to perform the Participant's obligations and duties of
employment after written or oral demands for such performance are given to the
Participant by the Company.

      3.03. COMPETITION WITH COMPANY. Participation in this Plan shall also
cease and all rights to any benefits under this Plan shall be forfeited when a
Participant, after Early, Normal, or Postponed Retirement, becomes an employee,
officer or a director of a competitor of the Company without consent of the
Board. The Board in its sole and absolute discretion shall determine if another
entity or person is a "competitor" for the purposes of this section.

      3.04. BOARD DISCRETION. The Board shall have broad, sole and absolute
discretion in making any determination under Sections 3.01, 3.02 and 3.03
hereof.

      3.05. CHANGE IN CONTROL.

            a. NONFORFEITABILITY UPON CHANGE IN CONTROL. Notwithstanding
anything to the contrary contained in this Article III or any other portion of
this Plan, when a Change in Control (as defined below) occurs, rights to receive
benefits under this Plan for each Employee who is a Participant in the Plan on
the date such change occurs shall become fixed and 100% vested and shall not be
subsequently divested by the Board. All discretion of the Board regarding the
payment of benefits under this Plan shall be eliminated upon such Change in
Control or ownership. This Section 3.05 shall not be considered to create in the
Plan Participants any greater rights in the assets of the Company or the Trust
than the Participants had before the Change in Control occurred.

                                        3
<PAGE>

            b. CHANGE IN CONTROL DEFINED. For purposes of this Section 3.05, a
"Change in Control" shall mean the occurrence of any of the following events,
directly or indirectly or in one or more series of transactions:

         (1)   A consolidation or merger of Wilmington Trust Company
               ("Bank") or Wilmington Trust Corporation ("Parent")
               with any third party (which includes a single person or
               entity or a group of persons or entities acting in
               concert) not wholly-owned, directly or indirectly, by
               Bank or Parent (a "Third Party"), unless Bank or Parent
               is the entity surviving that merger or consolidation;

         (2)   A transfer of all or substantially all of the assets of
               Bank or Parent to a Third Party or a complete
               liquidation or dissolution of Bank or Parent;

         (3)   A Third Party, without the prior approval of Bank's or
               Parent's Board, as the case may be, directly or
               indirectly, through one or more subsidiaries or
               transactions:

               (a) Acquires beneficial ownership of 15% or more
                   of any class of Bank's or Parent's voting
                   stock;

               (b) Acquires irrevocable proxies representing 15%
                   or more of any class of Bank's or Parent's
                   voting stock;

               (c) Acquires any combination of beneficial
                   ownership of voting stock and irrevocable
                   proxies representing 15% or more of any class
                   of Bank's or Parent's voting stock;

               (d) Acquires the ability to control in any manner
                   the election of a majority of Bank's or
                   Parent's Board; or

               (e) Acquires the ability to directly or indirectly
                   exercise a controlling influence over the
                   management or policies of Bank or Parent;

         (4)   Any election of persons to Parent's Board which causes
               a majority of Parent's Board to consist of persons
               other than (a) persons who were members of Parent's
               Board on January 1, 2000 and/or (b) persons who were
               nominated for election as members of Parent's Board by

                                       4
<PAGE>

               Parent's Board (or a committee thereof) at a time when
               the majority of the Parent's Board (or that committee)
               consisted of persons who were members of Parent's Board
               on January 1, 2000; provided, however, that any person
               nominated for election by Parent's Board (or a
               committee thereof), a majority of whom are persons
               described in clauses (a) and/or (b), or are persons who
               were themselves nominated by that Board (or a committee
               thereof), shall for this purpose be deemed to have been
               nominated by a Board composed of persons described in
               clause (a) above; or

         (5)   A determination is made by any regulatory agency
               supervising Bank or Parent that a "change in control,"
               as defined in the banking, insurance or securities laws
               or regulations then applicable to Bank or Parent, has
               occurred.

Notwithstanding any provision herein to the contrary, a Change in Control shall
not include any of the events described above if they (i) are related to or
occur in connection with the appointment of a receiver or conservator for Bank
or Parent, provision of assistance under Section 13(c) of the Federal Deposit
Insurance Act (the "FDI Act"), the approval of a supervisory merger, a
determination that Bank is in default as defined in Section 3(x) of the FDI Act,
insolvent or in an unsafe or unsound condition to transact business or the
suspension, removal and/or temporary or permanent prohibition by a regulatory
agency of a Member of the Board from participation in the conduct of Bank's or
Parent's business; or (ii) are the result of a Third Party inadvertently
acquiring beneficial ownership of or irrevocable proxies for or a combination of
both for 15% or more of any class of Bank's or Parent's voting stock, and that
Third Party as promptly as practicable thereafter divests itself of the
beneficial ownership of or irrevocable proxies for a sufficient number of shares
so that Third Party no longer has beneficial ownership or irrevocable proxies or
a combination of both for 15% or more of any class of Bank's or Parent's voting
stock.

                                   ARTICLE IV
                        Types of Retirement and Elections
                        ---------------------------------

      4.01. EARLY RETIREMENT. A Participant shall be eligible for Early
Retirement if the Participant is eligible for Early Retirement under the Pension
Plan.

      4.02. NORMAL RETIREMENT. A Participant shall be eligible for Normal
Retirement when the Participant attains age 62 and completes at least five Years
of Participation in the Plan.

      4.03. POSTPONED RETIREMENT. A Participant shall be eligible for Postponed
Retirement if the Participant was eligible for Normal Retirement under the
Pension Plan and, with the approval of the Board, continues in the employ of the
Company.

                                       5
<PAGE>

      4.04. NOTICE OF EARLY NORMAL OR POSTPONED RETIREMENT. Sixty days prior to
a Participant's Early or Normal Retirement, the Participant shall make a written
request to the Board which shall specify the intended Early or Normal Retirement
date. To elect Postponed Retirement a Participant shall make a written request
to the Board sixty days prior to Normal Retirement requesting Postponed
Retirement. If the Participant's request for Postponed Retirement is granted by
the Board, a Participant shall, sixty days prior to this Postponed Retirement
date, make a written request to the Board which shall specify the intended
Postponed Retirement date. If the Participant's request for Postponed Retirement
is denied by the Board, the Participant shall retire on the Participant's Normal
Retirement Date. All requests made under this Section shall be irrevocable once
approved by the Board.

      4.05. COMMENCEMENT OF BENEFITS IN PENSION PLAN. Notwithstanding anything
in this Plan to the contrary, in no event shall a Participant's benefits under
this Plan commence earlier or later than the date benefits commence under the
Pension Plan.

                                    ARTICLE V
                                Form of Benefits
                                ----------------

      5.01. FORM OF RETIREMENT BENEFITS

            a. NORMAL FORM. The normal form of retirement benefits payable under
this Plan shall be monthly payments payable for the Participant's lifetime. Upon
Participant's death, benefits paid under this form shall cease.

            b. POST-RETIREMENT SURVIVOR OPTION. The alternative form of
retirement benefit payable under this Plan shall be monthly payments payable for
the Participant's lifetime and, if the Participant predeceases his or her spouse
while receiving retirement benefits from this Plan, the Participant's surviving
spouse shall begin to receive a survivor benefit payable for the life of the
surviving spouse. Survivor benefits will cease upon the death of the surviving
spouse. This survivor benefit shall be a monthly payment equal to 50% of the
monthly payment the Participant was receiving prior to the death of the
Participant. Under this benefit option, the Participant's normal retirement
benefit under this Plan shall be reduced by the applicable conversion factors
specified in Appendix A in order to provide the funding for the survivor
benefit.

      5.02. RIGHT TO ELECT. A Participant shall have the right to elect the
Normal Form or the Post Retirement Survivor Option Form of benefit to be
received from this Plan within the 90 day period which precedes the
Participant's retirement date. The election of benefit form, once made, is
irrevocable. The form of benefit selected shall be made on forms provided by the
Administrator and shall be consented to by the Participant's Eligible Spouse as
witnessed by a notary public.

      5.03. NO DEATH OR DISABILITY BENEFITS. Except for the survivor benefit
described in this Article V, there shall be no survivor, disability, death or
other benefits provided by this Plan.

                                       6
<PAGE>

                                  ARTICLE VI
                Computation and Payment of Retirement Benefits
                ----------------------------------------------

      6.01. MONTHLY RETIREMENT BENEFIT. The Monthly Retirement Benefit payable
to a Participant under this Plan shall be 60% of a Participant's Average Monthly
Compensation multiplied by a fraction the numerator of which is the
Participant's Years of Participation in the Plan (not to exceed 30) and the
denominator of which is 30.

      6.02. PENSION PLAN OFFSET. The amount of a Participant's monthly benefit
determined under Section 6.01 above shall be reduced by the monthly benefit the
Participant is receiving from the Pension Plan.

      6.03. SUPPLEMENTAL BENEFITS. In addition to the benefits provided under
this Article VI, a Participant shall be entitled to Additional Supplemental
Benefits under this Plan as granted to a Participant by the Board and as set
forth in Appendix A hereto.

      6.04. EARLY RETIREMENT REDUCTION. If a Participant receives an Early
Retirement Benefit before age 62 under the Pension Plan, the amounts calculated
under 6.01 above (before any reduction for the monthly benefit payable from the
Pension Plan) shall be reduced in accordance with the reduction factors set
forth in the Pension Plan.

                                   ARTICLE VII
                                     Vesting
                                     -------

      7.01. VESTING OVER 15 YEARS OF PARTICIPATION. A Participant shall become
vested in the Monthly Retirement Benefit determined for the Participant under
Section 6.01 based upon the following schedule:

            YEARS OF PARTICIPATION IN THE PLAN              VESTED %
                     0-5th Year                               0.0  %
                       6th Year                              40.0  %
                       7th Year                              46.7  %
                       8th Year                              53.3  %
                       9th Year                              60.0  %
                      10th Year                              66.7  %
                      11th Year                              73.3  %
                      12th Year                              80.0  %
                      13th Year                              86.7  %
                      14th Year                              93.3  %
                      15th and later                        100.0  %

                                       7
<PAGE>

      7.02. VESTING AT 55 YEARS OF AGE AND 10 YEARS OF PARTICIPATION.
Notwithstanding the provisions of Section 7.01, a Participant shall become 100%
vested in the Monthly Retirement Benefit of the Participant upon attaining age
55 and completing 10 Years of Participation in the Plan.

                                  ARTICLE VIII
                              Plan Administration
                              -------------------

      8.01. APPOINTMENT OF ADMINISTRATOR. The Company will appoint an
Administrator who shall be responsible for ministerial, non-discretionary acts
associated with this Plan, including but not limited to determining the amount
and payment of retirement benefits.

      8.02. AUTHORITY OF ADMINISTRATOR. With the consent of the Board, the
Administrator may engage such agents and advisors as it deems necessary to carry
out its administrative responsibilities under the Plan.

      8.03. EXPENSES OF ADMINISTRATOR. The expenses of the Plan shall be borne
solely by the Company to the extent such expenses are not paid from the Trust
Fund.

      8.04. PAYMENT OF BENEFITS. The Administrator, at the direction of the
Company, shall instruct the Trustee as to the commencement, cessation, amount
and payment of benefits due a Participant from the Trust. The Administrator
shall not be required to assure that the Company makes contributions to the
Trust at a level or in an amount sufficient to pay benefits.

      8.05. SUFFICIENCY OF ASSETS IN TRUST. The Company shall have the sole and
exclusive responsibility to assure that there are sufficient assets in the Trust
in order to pay Participant benefits when due. To the extent Trust assets are
insufficient to pay Participant benefits, the Company shall contribute the
necessary amounts from its general assets to the Trustee.

      8.06. CONTRIBUTIONS TO TRUST/INVESTMENT OF TRUST ASSETS. The Company shall
have the sole and exclusive responsibility for making contributions to the Trust
to provide benefits and for directing the Trustee as to the investment of the
assets held in the Trust.

      8.07. INDEMNIFICATION. The Administrator and the Trustee shall be fully
indemnified and held harmless by the Company for all actions taken pursuant to
this Plan at the direction of the Company.

                                   ARTICLE IX
                                  Contributions
                                  -------------

      9.01. COMPANY CONTRIBUTIONS. The Company shall contribute cash or property
to the Trust in such amounts and at such times as, in its sole discretion, it
deems necessary.

                                       8
<PAGE>

                                    ARTICLE X
                            Maintenance of Accounts
                            -----------------------

      10.01. SEPARATE ACCOUNTS. The Company shall maintain a separate account on
its books for amounts held for the benefit of each Participant in the Trust (the
"Account") which shall be held, administered and accounted for separately for
each Participant. Separate accounting records shall be maintained so that the
amount held in each Participant's Account shall be identifiable at all times.
Each Account shall consist of, and be increased by, contributions made by the
Company which are designated by the Company as the property of such Account and
shall be decreased by distributions made therefrom. The Company shall make
contributions to the Trust and credit such Accounts from time to time in its
sole discretion. In addition, the Company shall allocate and credit the Net
Income of the Trust to the Accounts of Participants on the last day of each
calendar year (the "Allocation Date"), pro rata based on the respective Account
balance of each Participant on such date. If as a result of the foregoing, all
or a portion of any Net Income otherwise allocable to the Account of any
Participant on the Allocation Date cannot be so allocated, such Net Income shall
be allocated and credited to the Accounts of all other Participants pro rata,
based on the respective Account balances of each Participant on such Allocation
Date (determined without regard to the allocation of any Net Income to such
Accounts on such date). For purposes of the foregoing, Net Income shall mean the
net gain or loss of the Trust from investments, as reflected by interest
payments, dividends, realized and unrealized gains and losses on securities,
other investment transactions and expenses paid from the Trust. In determining
the Net Income of the Trust as of any date, assets shall be valued on the basis
of their then fair market value.

      10.02. NO INTEREST IN ASSETS. Nothing in Section 10.01 shall be construed
as creating any right, title or interest in or to any assets in the Trust or
assets of the Company.

                                   ARTICLE XI
                      Amendment and Termination of the Plan
                      -------------------------------------

      11.01. BOARD AMENDMENT OR TERMINATION. The Board reserves the right to
amend or terminate this Plan at any time without the consent of any Participant
except, however, that no such amendment or termination will effect the
irrevocability of the Trust or the Company's obligation to pay benefits to
Participants.

                                   ARTICLE XII
                                  Miscellaneous
                                  -------------

      12.01. ANTI-ALIENATION. No right or claim to any portion of the benefits
payable under the Plan shall be assignable or alienable by a Participant nor
shall a Participant's benefit be subject to garnishment, attachment, execution
or levy.

                                       9
<PAGE>

      12.02. NO RIGHT TO CONTINUE EMPLOYMENT. Nothing contained herein shall be
construed as conferring upon any Employee the right to continue in the employ of
the Company in any capacity whatsoever.

      12.03. APPLICABLE LAW. The provisions of this Plan shall be governed and
construed in accordance with Delaware law.

      12.04. HEADINGS. The headings in this document are for convenience of
reference only and shall have no effect upon the meanings of the provisions
hereof.

            IN WITNESS WHEREOF, Wilmington Trust Corporation has caused this
amended Plan to be executed this 17th day of February, 2000.

ATTEST:                             WILMINGTON TRUST CORPORATION

/s/ Thomas P. Collins                   /s/ Ted T. Cecala
-------------------------           By: -------------------------------
Secretary

                                       10
[Corporate Seal]

<PAGE>

                          WILMINGTON TRUST CORPORATION
                     SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

                                   APPENDIX A

                        ADDITIONAL SUPPLEMENTAL BENEFITS
                        --------------------------------

      1.  Pursuant  to  Section  6.03  of  the  Wilmington   Trust   Corporation
Supplemental  Executive  Retirement  Plan,  as of December 20, 1990,  Bernard J.
Taylor, II, shall be entitled to Additional Supplemental Benefits of $73,596 per
annum payable in monthly installments of $6,133 each.

      2.  Pursuant  to  Section  6.03  of  the  Wilmington   Trust   Corporation
Supplemental  Executive Retirement Plan, as of July 16, 1992, Bernard J. Taylor,
II, shall be entitled to Additional  Supplemental  Benefits of $73,715 per annum
payable in monthly installments of $6,142.91 each. These Additional Supplemental
Benefits  shall be in addition  to those  granted to Bernard J.  Taylor,  II, on
December 20, 1990.

<PAGE>

                          WILMINGTON TRUST CORPORATION
                     SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

                                   SCHEDULE I

BOARD DESIGNATED PARTICIPANTS

                              As Of January 1, 2000

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

                                                       DATE OF
              PARTICIPANT                   COMMENCEMENT OF PARTICIPATION
-------------------------------------------------------------------------------

             Ted T. Cecala                         January 10, 1985
-------------------------------------------------------------------------------

          Robert J. Christian                     February 12, 1996
-------------------------------------------------------------------------------

            Howard K. Cohen                          May 28, 1992
-------------------------------------------------------------------------------

        William J. Farrell, II                      August 1, 1993
-------------------------------------------------------------------------------

            David R. Gibson                          May 28, 1992
-------------------------------------------------------------------------------

        Robert V.A. Harra, Jr.                       March 1, 1984
-------------------------------------------------------------------------------

          Hugh D. Leahy, Jr.                         May 28, 1992
-------------------------------------------------------------------------------

          Robert A. Matarese                        March 29, 1990
-------------------------------------------------------------------------------

            Rita C. Turner                           July 16, 1996
-------------------------------------------------------------------------------

            Rodney P. Wood                           June 27, 1999
-------------------------------------------------------------------------------SEVERANCE AGREEMENT BETWEEN WILMINGTON TRUST
                           COMPANY AND RODNEY P. WOOD

                                 EXHIBIT 10.20
<PAGE>

                               SEVERANCE AGREEMENT
                               -------------------

      THIS AGREEMENT is made as of the 28th day of June, 1999 between WILMINGTON
TRUST COMPANY, a Delaware-chartered bank and trust company (the "Bank"), and
RODNEY P. WOOD ("Employee").

                                   BACKGROUND
                                   ----------

      A.  Bank currently employs Employee and considers Employee a key employee.

      B.  Bank desires to retain Employee's services.

      C.  Bank has from time to time made payments and provided benefits to
employees who have terminated employment with Bank (the "Prior Severance
Arrangements").

      D.  Bank and Employee desire to set forth the amounts payable and benefits
Bank will provide Employee in the event of a termination of Employee's
employment with Bank under the circumstances set forth herein after a Change in
Control (as that term is defined in Subparagraph 4(e) below).

      NOW, THEREFORE, in consideration of the foregoing, and the mutual
covenants contained herein, the parties hereto, intending to be legally bound
hereby, agree as follows:

      1. CONTINUED EMPLOYMENT. In reliance upon Bank's promises contained
herein, Employee agrees that, for a period of not less than six months
commencing on the date first set forth above, and subject to reasonable absences
for illness, holiday and vacation pursuant to Bank's policies and practices in
effect on the date hereof, and from time to time hereafter, Employee shall
continue his employment with Bank and devote his best efforts to duties which
may be assigned to him by Bank from time to time.

      2. PRIOR SEVERANCE ARRANGEMENTS. Except as set forth herein, if Employee's
employment with Bank is terminated under circumstances in which Bank is required
to make payment to him pursuant to Paragraph 5 below, Employee shall make no
claim or demand arising or alleged to arise from any severance plan, program,
policy or arrangement (including, without limitation, any Prior Severance
Arrangement) which Bank may have had in effect, currently sponsors or adopts
hereafter. Notwithstanding the preceding sentence, if Employee's employment with
Bank is terminated under circumstances in which Bank is required to make payment
to him pursuant to Paragraph 5 below, Employee or Employee's spouse, heirs,
estate or personal representative, as the case may be, shall be entitled to
receive any benefits payable under any employee benefit plan, program, policy or
arrangement which may then be in effect and which is not a severance plan,
program, policy or arrangement.

<PAGE>

      3. EFFECTIVE DATE. This Agreement shall be effective as of the date first
written above (the "Effective Date") and continue and remain in full force and
effect until the termination of Employee's employment with Bank, unless
terminated earlier by the parties in writing. The completion of six months of
employment with Bank by Employee in accordance with Paragraph 1 above shall not
be a condition precedent to the effectiveness hereof or to the payment of
amounts or the provision of benefits hereunder if Employee's employment with
Bank is terminated under the circumstances described in Subparagraph 4(b) below.

      4. TERMINATION OF EMPLOYMENT.

         a.  REQUIRING NO PAYMENTS UNDER  PARAGRAPH 5. If Employee's  employment
with Bank is terminated  under any of the following  circumstances,  no payments
shall  be or  become  due and  owing  hereunder,  and Bank  shall  have no other
obligation under Paragraph 5 below:

             (1)   By either  party for any reason  before a Change in  Control,
                   except as otherwise provided in Subparagraph 4(b)(3) below.

             (2)   By  either  party  for any  reason  at any time more than two
                   years after a Change in Control.

             (3)   By  Bank  at  any  time,  whether   contemporaneous  with  or
                   subsequent  to a Change in  Control,  due to "Cause" (as that
                   term  is  defined  in   Subparagraph   4(c)  below)  or  upon
                   Employee's death or Disability. For purposes hereof, the term
                   "Disability"  means any physical or mental  injury or disease
                   of a permanent  nature  which  makes  Employee  incapable  of
                   meeting  the   requirements   of  the  employment   performed
                   immediately before the commencement of that disability.

             (4)   By  Employee  at any time,  whether  contemporaneous  with or
                   subsequent  to a Change in Control,  upon his  retirement  or
                   resignation  for  reasons  other than "Good  Reason" (as that
                   term is defined in Subparagraph 4(d) below).

         b.  REQUIRING PAYMENTS UNDER PARAGRAPH 5. If Employee's employment with
Bank is terminated under any of the following circumstances, Bank shall make the
payments and provide the benefits set forth in Paragraph 5 below:

             (1)   By Bank  contemporaneously  with or within two years  after a
                   Change in Control for any reason  other than (a) for Cause or
                   (b) upon Employee's death or Disability;

                                        2
<PAGE>

             (2)   By Employee, contemporaneously with or within two years after
                   a Change in Control, for Good Reason; or

             (3)   Before a Change in  Control  occurs  either (1) by Bank other
                   than for Cause or (2) by  Employee  for Good  Reason,  and in
                   either  case  it  is   reasonably   demonstrated   that  that
                   termination  of employment  (x) was at the request of a Third
                   Party (as that term is defined in  Subparagraph  4(e)  below)
                   that has taken steps reasonably calculated to effect a Change
                   in Control or (y) otherwise  arose in  connection  with or in
                   anticipation of a Change in Control.

         c.  DEFINITION OF "CAUSE".  For purposes hereof, the term "Cause" shall
mean Employee's personal  dishonesty,  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 a final  cease-and-desist  order or a material violation
of any provision hereof.

         d.  DEFINITION OF "GOOD REASON".  For purposes  hereof,  the term "Good
Reason" shall, absent Employee's written consent to the contrary, mean:

              (1)  Any material violation by Bank of its obligations hereunder;

              (2)  The  assignment to Employee of any duties  inconsistent  with
                   the status of his position  with Bank on the day  immediately
                   preceding a Change in Control, or an alteration in the nature
                   or status of  Employee's  duties  and  responsibilities  that
                   renders Employee's  position to be of less  responsibility or
                   scope  than  that  which  existed  on  the  day   immediately
                   preceding the Change in Control;

             (3)   A  reduction  by Bank in  Employee's  annual  base  salary in
                   effect on the day immediately  preceding a Change in Control,
                   as the same may be  increased  from time to time  thereafter,
                   except for proportional,  across-the-board  salary reductions
                   similarly affecting all of Bank's employees;

             (4)   The  relocation of Bank's  principal  executive  offices to a
                   location  more than 25 miles from  Wilmington,  Delaware,  or
                   Bank's  requiring  Employee to be based  anywhere  other than
                   Bank's  principal  executive  offices,  except  for  required
                   travel  on  Bank's   business  to  an  extent   substantially
                   consistent   with   Employee's    present   business   travel
                   obligations; or

                                        3
<PAGE>

             (5)   Any   material   reduction  by  Bank  or   Wilmington   Trust
                   Corporation  ("Parent")  of the benefits  enjoyed by Employee
                   under  any  of  Bank's  or  Parent's   pension,   retirement,
                   profit-sharing,    savings,    life    insurance,    medical,
                   health-and-accident,  disability  or other  employee  benefit
                   plans,  programs or arrangements in effect from time to time,
                   the  taking  of any  action  by Bank  or  Parent  that  would
                   directly  or  indirectly   materially  reduce  any  of  those
                   benefits or deprive Employee of any material fringe benefits,
                   or the failure by Bank to provide Employee with the number of
                   paid  vacation  days to which he is  entitled on the basis of
                   years of service with Bank in  accordance  with Bank's normal
                   vacation policy;  provided,  however,  that this Subparagraph
                   4(d)(5) shall not apply to any proportional, across-the-board
                   reduction or action similarly affecting all employees of Bank
                   or Parent.

         e.  DEFINITION OF "CHANGE IN CONTROL".  For purposes  hereof, a "Change
in Control" shall mean the  occurrence,  after the Effective Date, of any of the
following  events,   directly  or  indirectly  or  in  one  or  more  series  of
transactions:

             (1)   A  consolidation  or merger of Bank or Parent  with any third
                   party (which includes a single person or entity or a group of
                   persons or  entities  acting in  concert)  not  wholly-owned,
                   directly or indirectly,  by Bank or Parent (a "Third Party"),
                   unless Bank or Parent is the entity  surviving that merger or
                   consolidation;

             (2)   A transfer of all or substantially  all of the assets of Bank
                   or  Parent  to a Third  Party or a  complete  liquidation  or
                   dissolution of Bank or Parent;

             (3)   A Third  Party,  without  the  prior  approval  of  Bank's or
                   Parent's Board of Directors,  as the case may be, through one
                   or more subsidiaries:

                   (a)   Acquires  beneficial  ownership  of 15% or  more of any
                         class of Bank's or Parent's voting stock;

                   (b)   Acquires  irrevocable proxies  representing 15% or more
                         of any class of Bank's or Parent's voting stock;

                   (c)   Acquires any  combination  of  beneficial  ownership of
                         voting stock and irrevocable  proxies  representing 15%
                         or more of any  class  of  Bank's  or  Parent's  voting
                         stock;

                                        4
<PAGE>

                   (d)   Acquires  the  ability  to  control  in any  manner the
                         election of a majority of Bank's or Parent's directors;
                         or

                   (e)   Acquires the ability to directly or indirectly exercise
                         a controlling influence over the management or policies
                         of Bank or Parent;

             (4)   Any election occurs of persons to Parent's Board of Directors
                   that  causes a majority  of Parent's  Board of  Directors  to
                   consist of persons other than (a) persons who were members of
                   Parent's  Board of Directors on the Effective Date and/or (b)
                   persons who were  nominated  for  election as members of that
                   Board of  Directors  by  Parent's  Board of  Directors  (or a
                   committee  thereof) at a time when the majority of that Board
                   of  Directors  (or that  committee)  consisted of persons who
                   were members of Parent's  Board of Directors on the Effective
                   Date;  provided,  however,  that  any  person  nominated  for
                   election  by  Parent's  Board of  Directors  (or a  committee
                   thereof), a majority of whom are persons described in clauses
                   (a) and/or (b), or are persons who were themselves  nominated
                   by that Board of Directors  (or a committee  thereof),  shall
                   for this purpose be deemed to have been  nominated by a Board
                   of  Directors  composed  of persons  described  in clause (a)
                   above; or

             (5)   A determination is made by any regulatory agency  supervising
                   Bank or Parent  that a change in  control,  as defined in the
                   banking,  insurance or securities  laws or  regulations  then
                   applicable to Bank or Parent, has occurred.

      Notwithstanding any provision herein to the contrary,  a Change in Control
shall not include any of the events  described  above if they (x) are related to
or occur in connection  with the  appointment of a receiver or  conservator  for
Bank or Parent,  provision  of  assistance  under  Section  13(c) of the Federal
Deposit  Insurance Act (the "FDI Act"), the approval of a supervisory  merger, a
determination that Bank is in default as defined in Section 3(x) of the FDI Act,
insolvent  or in an unsafe or unsound  condition  to  transact  business  or the
suspension,  removal and/or  temporary or permanent  prohibition by a regulatory
agency of  Employee  from  participation  in the  conduct of Bank's or  Parent's
business  or (y)  are  the  result  of a  Third  Party  inadvertently  acquiring
beneficial  ownership of or irrevocable proxies for or a combination of both for
15% or more of any class of Bank's or  Parent's  voting  stock,  and that  Third
Party as promptly as  practicable  thereafter  divests  itself of the beneficial
ownership of or  irrevocable  proxies for a sufficient  number of shares so that
that Third Party no longer has beneficial ownership or irrevocable proxies or a
combination of both for 15% or more of any class of Bank's or Parent's voting
stock.

                                        5
<PAGE>

      5. OBLIGATIONS OF BANK UPON TERMINATION OF EMPLOYMENT. Upon termination of
Employee's   employment  with  Bank  under  the   circumstances   set  forth  in
Subparagraph 4(b) above,  notwithstanding  that  termination,  Employee shall be
entitled to receive the following payments and provided the following benefits:

         a.  BASE SALARY.  Bank  shall pay  Employee  within  ten days after the
termination  of his employment a lump sum payment equal to the aggregate of 115%
of the future  base  salary  payments  Employee  would have  received  if he had
continued  in  Bank's  employ  until 36  months  after  the  termination  of his
employment (unless a reduction in compensation  preceded Employee's  resignation
or retirement  for Good Reason,  in which case the Bank shall pay him a lump sum
payment equal to the aggregate amount of 115% of the future base salary payments
Employee  would have  received at his highest  base salary in effect  during the
twelve-month  period before the  termination of Employee's  employment if he had
continued  in the Bank's  employ until 36 months  after the  termination  of his
employment), in either case discounted to present value at a discount rate equal
to the per annum rate offered on that  termination  date (or the next  preceding
date on which that rate is published) on U.S.  Treasury bills with maturities of
one and one-half years.

         b.  BENEFITS.  For three  years  after the  termination  of  Employee's
employment,  at Bank's expense,  Employee shall participate in and be covered by
all  employee  benefit  plans,  programs,  policies  and  arrangements  of  Bank
applicable  to  executive  employees,  whether  funded  or  unfunded;  provided,
however,  that, if any  administrator or insurance  carrier contests  Employee's
participation  in or coverage under that plan,  program,  policy or arrangement,
then in  respect  of  insurance  arrangements,  Bank  shall,  at its own cost or
expense,  cause equivalent  insurance coverage to be provided and, in respect of
arrangements  other than insurance,  make cash payments to Employee in an amount
equal to the amount  which would have been  contributed  by Bank with respect to
Employee at the times those  amounts would have been  contributed;  and provided
further  that,  to the extent  Bank has an  obligation  to provide  continuation
coverage  under  Section  4980(B)(f)  of the Internal  Revenue Code of 1986,  as
amended (the  "Code"),  the period for which  benefits  are provided  under this
Subparagraph  5(b)  constitutes  a  portion  of  that   continuation   coverage.
Notwithstanding the foregoing, any payments made to Employee pursuant hereto, or
otherwise,  are subject to and conditioned  upon their compliance with 12 U.S.C.
ss.1828(k) and anY regulations promulgated thereunder.

         c.  LIMITATIONS.

             (1)   Notwithstanding  the foregoing or any other provision  hereof
                   to the contrary,  if Bank's tax counsel  determines  that any
                   portion of any payment  hereunder would constitute an "excess
                   parachute  payment," then the payments to be made to Employee
                   hereunder shall be reduced so that the value of the aggregate
                   payments that  Employee is entitled to receive  hereunder and
                   under any other agreement,  plan or program of Bank or Parent

                                        6
<PAGE>

                   shall be one dollar less than the maximum  amount of payments
                   which Employee may receive  without  becoming  subject to the
                   tax imposed by Section 4999 of the Code.

             (2)   The  parties  intend  that this  Agreement  shall  govern the
                   rights  and  obligations  of  the  parties  with  respect  to
                   severance  payments  payable upon a termination of Employee's
                   employment under circumstances described in Subparagraph 4(b)
                   above. If the Internal Revenue Service assesses an excise tax
                   against  Employee  pursuant to Sections  280G and 4999 of the
                   Code,  Bank shall be under no  obligation  to  Employee  with
                   respect  to the  amount  of (a)  that  excise  tax or (b) any
                   additional  Federal  income  tax  due  from  and  payable  by
                   Employee  as  the  result  of  his  receipt  of  any  payment
                   hereunder.

      6. NO DUTY TO  MITIGATE.  Employee  shall not be required to mitigate  the
amount  of any  payment  required  hereunder  by  seeking  other  employment  or
otherwise,  nor shall the  amount  paid  hereunder  be  reduced or offset by any
compensation earned or received by Employee as result of employment with another
employer, self-employment or any amount received from any of Bank's other plans,
programs,  policies or  arrangements;  provided  that  benefits  provided  under
Subparagraph 5(b) above shall be reduced to the extent that comparable  benefits
are actually received by Employee from or through another employer.

      7. MISCELLANEOUS.

         a.  GENERAL CREDITOR.  All payments  required  hereunder shall be made
from Bank's general  assets,  and Employee shall have no rights greater than the
rights of a general creditor of Bank.

         b.  NOTICES.  All  notices  and  other   communications   required  or
permitted to be given  hereunder shall be in writing and shall be deemed to have
been duly  given if  delivered  personally  or sent by  certified  mail,  return
receipt requested,  first-class postage prepaid,  or by a nationally  recognized
overnight mail carrier, to the parties hereto at the following addresses:

             (1)   If to Bank, at:

                   Wilmington Trust Company
                   Rodney Square North
                   1100 North Market Street
                   Wilmington, DE 19890
                   Attention:  Chairman of the Board

                                        7
<PAGE>

             (2)   If to Employee, at the address set forth at the end hereof,

or to such other address as either party hereto has last designated by notice to
the other.  All such  notices  and  communications  shall be deemed to have been
received  on the earlier of the date of receipt,  the first  business  day after
mailing by a nationally-recognized  overnight mail carrier or the third business
day after the date of other mailing.

         c.  BINDING EFFECT;  BENEFITS. This Agreement shall be binding upon and
inure to the benefit of the parties hereto and their  respective  successors and
assigns.  Nothing contained herein,  express or implied, is intended or shall be
construed to give any person, other than the parties hereto and their respective
successors and assigns,  any legal or equitable right,  remedy or claim under or
in respect of any agreement or provision herein.

         d.  COSTS OF ENFORCEMENT.  If Employee retains legal counsel to enforce
any or all of his rights to severance  benefits  under  Paragraph 5 above and he
substantially prevails in enforcing those rights,  Employee shall be entitled to
recover from Bank Employee's  reasonable  attorneys' fees, costs and expenses in
connection with the enforcement of his rights.

         e.  WAIVER.  Either  party  may,  by written  notice to the other:  (1)
extend the time for  performance  of any obligation or other action of the other
hereunder;  (2) waive  compliance  with any  condition  or covenant of the other
herein;  or (3)  waive or  modify  performance  of any  obligation  of the other
hereunder.  Except as  provided  in the  preceding  sentence,  no  action  taken
pursuant  hereto,  including,  without  limitation,  any  investigation by or on
behalf of any  party,  shall be deemed to  constitute  a waiver by that party of
compliance with any  representation,  warranty,  covenant or agreement contained
herein. The waiver by any party of a violation of any provision hereof shall not
operate or be construed as a waiver of any  preceding or  succeeding  violation,
and no failure by either  party to  exercise  any right or  privilege  hereunder
shall be deemed a waiver of that party's rights or privileges  hereunder or that
party's  rights to  exercise  that right or  privilege  at any  subsequent  time
hereunder.

         f.  AMENDMENT.  This Agreement may be terminated,  amended, modified or
supplemented only by a written instrument executed by Employee and Bank.

         g.  ASSIGNABILITY.  Neither  this  Agreement  nor  any  right,  remedy,
obligation  or  liability  hereunder  or  arising  by  reason  hereof  shall  be
assignable by either Bank or Employee  without the prior written  consent of the
other.

         h.  GOVERNING LAW. This Agreement shall be governed by and construed in
accordance  with  Delaware  law,  regardless  of what law might be applied under
principles of conflicts of laws, except as that law is superseded by the laws of
the United States.

         i.  SECTION AND OTHER  HEADINGS.  The section and other headings herein
are  for  reference   purposes  only,  and  shall  not  affect  the  meaning  or
interpretation hereof.

                                        8
<PAGE>

         j.  WITHHOLDING OF TAXES. Bank may withhold from amounts required to be
paid to Employee hereunder any applicable Federal,  state, local and other taxes
with respect thereto;  provided,  however, that Bank shall promptly pay over the
amounts so withheld to the appropriate  taxing  authorities and provide Employee
with  appropriate  statements  on forms  prescribed  for those  purposes  on the
amounts so withheld.

         k.  SEVERABILITY.  If, for any  reason,  any  provision  hereof is held
invalid, that invalidity shall not affect any other provision hereof not so held
invalid,  and each  such  other  provision  hereof  shall,  to the  full  extent
consistent with law,  continue in full force and effect. If any provision hereof
is held invalid in part, that invalidity shall in no way affect the rest of that
provision not held invalid,  and the rest of that  provision,  together with all
other provisions hereof, shall, to the full extent consistent with law, continue
in full force and effect.

         l.  COUNTERPARTS.  This  Agreement  may be  executed  in any  number of
counterparts,  each of which shall be deemed to be an original  and all of which
together shall be deemed to be one and the same instrument.

             IN WITNESS WHEREOF, Bank has executed this Agreement and caused its
seal to be  affixed  hereto  by its  officers  thereunto  duly  authorized,  and
Employee has signed this Agreement, all as of the date first written above.

ATTEST:                                   WILMINGTON TRUST COMPANY

/s/ Gerard A. Chamberlain                  /s/ Robert V.A. Harra, Jr.
----------------------------              ---------------------------------
[Assistant] Secretary                                 President

WITNESS:                                  EMPLOYEE:

 /s/ Gerard A. Chamberlain                /s/ Rodney P. Wood
----------------------------              ---------------------------------
                                              Rodney P. Wood

                                          Name:   Rodney P. Wood
                                                 --------------------------
                                          Address:
                                                  -------------------------

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

                                        9

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