Document:

Exhibit 10 (ix)
---------------

                                 MONROE BANCORP

                     EXECUTIVES' DEFERRED COMPENSATION PLAN

               (As Amended and Restated Effective January 1, 1999)

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                                 MONROE BANCORP
                     EXECUTIVES' DEFERRED COMPENSATION PLAN
               (As Amended and Restated Effective January 1, 1999)

                                TABLE OF CONTENTS
                                -----------------

ARTICLE                                                                    PAGE
-------                                                                    ----

         INTRODUCTION .....................................................  1

I.       DEFINITIONS  .....................................................  1

         1.1      Accounting Date..........................................  1
         1.2      Board....................................................  1
         1.3      Committee................................................  1
         1.4      Company..................................................  1
         1.5      Incentive Compensation...................................  1
         1.6      Deferral Account.........................................  1
         1.7      Disability...............................................  1
         1.8      Effective Date...........................................  1
         1.9      Employee.................................................  1
         1.10     Employer.................................................  2
         1.11     Participant..............................................  2
         1.12     Participant Salary Deferral Contributions................  2
         1.13     Participation Agreement..................................  2
         1.14     Plan ....................................................  2
         1.15     Plan Year................................................  2
         1.16     Rabbi Trust..............................................  2

II.      ELIGIBILITY AND PARTICIPATION.....................................  2

III.     CONTRIBUTIONS AND ALLOCATIONS.....................................  2

         3.1      Participant Salary Deferral Contributions................  2
         3.2      Participation Agreement..................................  3
         3.3      Allocation of Contributions and Earnings.................  4

IV.      INVESTMENT OF CONTRIBUTIONS.......................................  4

         4.1      Investments..............................................  4
         4.2      Unsecured Contractual Rights.............................  5

                                      -i-
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V.       DISTRIBUTIONS.....................................................  5

         5.1      Time of Payment of Benefits..............................  5
         5.2      Method of Payment of Benefits............................  5
         5.3      Benefit Payment Elections................................  5
         5.4      Death of the Participant and Beneficiary Designation.....  6

VI.      PLAN ADMINISTRATION...............................................  6

         6.1      Administration by the Committee..........................  7
         6.2      Powers and Responsibilities of the Committee.............  7
         6.3      Liabilities..............................................  8
         6.4      Claims Procedure.........................................  8
         6.5      Income and Employment Tax Withholding....................  9

VII.     AMENDMENT AND TERMINATION OF THE PLAN.............................  9

         7.1      Amendment of the Plan....................................  9
         7.2      Termination of the Plan..................................  9

VIII.    MISCELLANEOUS.....................................................  9

         8.1      Governing Law............................................  9
         8.2      Headings and Gender......................................  9
         8.3      Participant's Rights; Acquittance........................  9
         8.4      Spendthrift Clause.......................................  9
         8.5      Counterparts............................................. 10
         8.6      No Enlargement of Employment Rights...................... 10
         8.7      Limitations on Liability................................. 10
         8.8      Incapacity for Participant or Beneficiary................ 10
         8.9      Corporate Successors..................................... 10
         8.10     Evidence................................................. 10
         8.11     Action by Employer....................................... 10
         8.12     Severability............................................. 10

         SIGNATURES   ..................................................... 11

                                      -ii-
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                                  INTRODUCTION
                                  ------------

         The purpose of this Plan is to permit a select group of management or
highly compensated Employees to elect to defer incentive compensation from the
Employers without regard to the limitations imposed by the Internal Revenue Code
on the benefits which may accrue to those Employees under the Employers'
tax-qualified retirement plans. It is the intention of the Company that the Plan
shall constitute an unfunded arrangement maintained for the purpose of providing
deferred compensation for that select group of management or highly compensated
Employees for federal income tax purposes and for purposes of Title I of the
Employee Retirement Income Security Act of 1974, as amended.

                                    ARTICLE I
                                   DEFINITIONS
                                   -----------

         Whenever the initial letter of the following words or phrases is
capitalized in this Plan, those words and phrases shall have the meanings stated
below unless a different meaning is plainly required by the context:

         1.1 "Accounting Date" means the last day of each month (and any other
date selected by the Committee).

         1.2 "Board" means the Board of Directors of the Company.

         1.3 "Committee" means the Compensation Committee of the Board.

         1.4 "Company" means Monroe Bancorp.

         1.5 "Incentive Compensation" means the Participant's annual bonuses and
other forms of compensation payable by an Employer and designated as Incentive
Compensation by the Board or Committee, including any Participant Salary
Deferral Contributions made on behalf of the Participant under this Plan or
salary reductions made pursuant to a plan which qualifies under Section 401(k)
of the Internal Revenue Code and/or Section 125 of the Internal Revenue Code.

         1.6 "Deferral Account" means the individual bookkeeping account
maintained for each Participant in accordance with Section 3.3(a).

         1.7 "Disability" means any mental or physical disability that would
render the Participant unable to perform his duties as an executive officer of
an Employer.

         1.8 "Effective Date" means January 1, 1999.

         1.9 "Employee" means any individual who is a "common-law employee" of
an Employer.

                                       1
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         1.10 "Employer" means the Company and any other entity the Company
allows to adopt and become a participating Employer under the Plan.

         1.11 "Participant" means an Employee who is a salaried executive
officer of an Employer and who becomes a Participant pursuant to the provisions
of Article II of the Plan.

         1.12 "Participant Salary Deferral Contributions" means contributions
made to the Plan pursuant to Section 3.1 by an Employer, at the election of the
Participant, in lieu of Incentive Compensation, under a Participation Agreement
between the Participant and an Employer. Although the term "contribution" is
used for ease of reference, credits to Participants' Deferral Accounts under the
Plan are merely credits to a bookkeeping account.

         1.13 "Participation Agreement" means one or more written agreements
between the Participant and an Employer pursuant to which the Participant elects
to make Participant Salary Deferral Contributions, designates his
beneficiary(ies), elects a form of distribution and elects the time at which his
benefit will be distributed under the Plan.

         1.14 "Plan" means the deferred compensation plan embodied herein, as
amended from time to time, known as the Monroe Bancorp Executives' Deferred
Compensation Plan.

         1.15 "Plan Year" means the 12-month period beginning each January 1 and
ending on the following December 31.

         1.16 "Rabbi Trust" means the rabbi trust established by the Company
with a corporate trustee to provide for the benefits created by this Plan.

                                   ARTICLE II
                          ELIGIBILITY AND PARTICIPATION
                          -----------------------------

         Any duly elected and serving executive officer of an Employer is
eligible to become a Participant in the Plan provided the Employee is designated
as a Participant by the Committee in writing. A designated Employee will become
a Participant as of the later of the Effective Date or the date specified by the
Committee. A Participant may be removed as an active Participant by the
Committee effective as of any date, so that he will not be entitled to make
deferrals under Article III on or after that date.

                                   ARTICLE III
                          CONTRIBUTIONS AND ALLOCATIONS
                          -----------------------------

         3.1 Participant Salary Deferral Contributions.

                  (a)      Salary Deferral Elections. Subject to the terms and
                           limitations of this Article III, an Employer shall
                           reduce a Participant's Incentive Compensation and
                           make a Salary Deferral Contribution on behalf of each
                           Participant with respect to whom a Participation
                           Agreement is in effect. The Participation Agreement
                           shall specify the percentage (or dollar

                                       2
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                           amount) of the Participant's Incentive Compensation
                           to be deferred as is mutually agreed upon between the
                           Participant and the Committee. Such percentage (or
                           dollar amount) shall remain in effect thereafter
                           until another percentage (or dollar amount) is agreed
                           upon by the Participant and the Committee in
                           accordance with the provisions of Section 3.2 or
                           until the Committee notifies the Participant that the
                           Participant is no longer eligible to make
                           contributions under this Section 3.1.

                  (b)      Limit on Contributions. A Participant may defer up to
                           100% of his Incentive Compensation.

         3.2 Participation Agreement.

                  (a)      Requirement for Participation Agreement. As a
                           condition to an Employer's and the Committee's
                           obligation to credit Participant Salary Deferral
                           Contributions for the benefit of a Participant
                           pursuant to Section 3.1, the Participant must execute
                           a Participation Agreement with the Committee (on such
                           forms as shall be prescribed by the Committee) in
                           which it is agreed that the Participant's Employer
                           will withhold payment of all or a portion of the
                           Participant's Incentive Compensation and shall credit
                           such amount withheld to the Participant's Deferral
                           Account at the times set forth in Section 3.3.

                  (b)      Timing of Execution and Delivery of Participation
                           Agreement. A Participation Agreement must be executed
                           by the Participant and the Committee on or prior to
                           December 31 of the calendar year preceding the
                           calendar year the Participant is entitled to receive
                           the Incentive Compensation with respect to which the
                           Participant Salary Deferral Contributions specified
                           in the Participation Agreement relate. For example,
                           to defer Incentive Compensation earned in 2002 and
                           payable in 2003, a Participation Agreement must be
                           executed on or before December 31, 2002. This
                           provision will be effective for any Incentive
                           Compensation paid on or after January 1, 1999,
                           including elections made prior to that date.

                  (c)      Modification of Participant Salary Deferral
                           Contributions. At any time, a Participant and the
                           Committee may execute and deliver an amended
                           Participation Agreement which increases, decreases,
                           commences or terminates Participant Salary Deferral
                           Contributions which are attributable to the
                           Participant's Incentive Compensation. Provided,
                           however, such amended Participation Agreement must be
                           executed by the Participant and the Committee on or
                           prior to December 31 of the calendar year preceding
                           the calendar year the Participant is entitled to
                           receive the Incentive Compensation with respect to
                           which the Participant Salary Deferral Contributions
                           specified in the Participation Agreement relate.

                                       3
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         3.3 Allocation of Contributions and Earnings.

                  (a)      Deferral Account. The Committee shall establish and
                           maintain a Deferral Account in the name of each
                           Participant, to which the Committee shall credit all
                           amounts to be allocated to each Participant pursuant
                           to Sections 3.1 and 3.2 and from which the Committee
                           shall debit all amounts paid to the Participant or
                           his designated beneficiary pursuant to Article V.

                  (b)      Accounting. As of each Accounting Date the
                           Participants' Deferral Accounts will be adjusted as
                           follows:

                           (i)      First, by charging a Participant's Deferral
                                    Account with any payments made to or on
                                    behalf of that Participant or his designated
                                    beneficiary since the last Accounting Date.

                           (ii)     Second, by adjusting the balances in all the
                                    Participants' Deferral Accounts, pro rata,
                                    so that the total of the Deferral Account
                                    balances equal the adjusted net worth of the
                                    Rabbi Trust fund (as determined below) as of
                                    that Accounting Date.

                           (iii)    Finally, by crediting each Participant's
                                    Deferral Account with any Participant Salary
                                    Deferral Contributions that are to be
                                    allocated to his Deferral Account as of that
                                    Accounting Date.

                           The "adjusted net worth of the Rabbi Trust fund" as
                           of any Accounting Date means the fair market value of
                           all the property held by the trustee under that trust
                           on that date, less an amount equal to the
                           contributions made to the trustee since the previous
                           Accounting Date.

                  (c)      Crediting of Contributions. Participant Salary
                           Deferral Contributions shall be credited to a
                           Participants' Deferral Account as of the last day of
                           the month in which the deferred amount is contributed
                           to the Rabbi Trust. Deferred amounts will be
                           contributed to the Rabbi Trust as soon as practicable
                           following the date withheld from the Participant's
                           Incentive Compensation.

                                   ARTICLE IV
                           INVESTMENT OF CONTRIBUTIONS
                           ---------------------------

         4.1 Investments. All contributions under the Plan shall be credited to
each Partici-pant's Deferral Account as provided in Section 3.3. No provision of
the Plan shall impose or be deemed to impose any obligation upon the Company,
other than an unsecured contractual obligation to make a cash payment to
Participants and their beneficiaries in accordance with the terms of the Plan.
Benefits payable under the Plan shall be paid directly by the Company from its
general assets to the extent not paid from the Rabbi Trust.

                                       4
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         4.2 Unsecured Contractual Rights. The Plan at all times shall be
unfunded and shall constitute a mere promise by the Company to make benefit
payments in the future. Notwith-standing any other provision of this Plan,
neither a Participant nor his designated beneficiary shall have any preferred
claim on, or any beneficial ownership interest in, any assets of the Company
prior to the time benefits are paid as provided in Article V, including any
Incentive Compensation deferred by the Participant. All rights created under
this Plan shall be mere unsecured contractual rights of the Participant against
the Company.

                                    ARTICLE V
                                  DISTRIBUTIONS
                                  -------------

         5.1 Time of Payment of Benefits. All amounts credited to a
Participant's Deferral Account shall be or shall commence to be distributed to
or for the benefit of a Participant (or his designated beneficiary) on a date
selected by the Participant in his Participation Agreement or upon his earlier
death or Disability.

         5.2 Method of Payment of Benefits. The balance of a Participant's
Deferral Account shall be paid by the Company in cash or kind, as determined by
the Committee, in one of the following methods effectively elected by the
Participant in his Participation Agreement:

                  (a)      A single lump sum.

                  (b)      Monthly installments payable over a period not in
                           excess of 10 years as shall be elected by the
                           Participant.

                  (c)      A combination of the methods specified in subsections
                           (a) and (b).

         5.3 Benefit Payment Elections.

                  (a)      In order to be effective, a Participant's election of
                           the manner in which his benefits shall be distributed
                           (including benefits which become payable as a result
                           of the Participant's death) must be made by
                           delivering a Participation Agreement or an amended
                           Participation Agreement to the Committee not later
                           than 60 days prior to the beginning of the Plan Year
                           in which the distribution event occurs. If the
                           Participant does not elect a form of distribution
                           under Section 5.2, or such election is not timely or
                           properly made under this Section 5.3, his Employer
                           shall pay the entire benefit in the form of a single
                           lump sum.

                  (b)      In the event a Participant properly elects and is
                           eligible to receive his Deferral Account in the form
                           specified in Section 5.2(b), the Participant must
                           specify in his written election the number of years
                           over which the monthly installments are to be
                           distributed.

                                       5
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                  (c)      In the event a Participant properly elects and is
                           eligible to receive his Deferral Account in the form
                           specified in Section 5.2(c), the Participant must
                           specify in his written election the percentage of the
                           account which will be distributed in a single lump
                           sum and the percentage of the account which will be
                           distributed in installments, including the number of
                           years over which such installments shall be
                           distributed.

         5.4 Death of the Participant and Beneficiary Designation.

                  (a)      Form and Time of Payment. In the event of a
                           Participant's death, the balance in his Deferral
                           Account shall be paid to his designated beneficiary
                           in a single lump sum. Such distribution shall be made
                           as soon as practicable following the date of the
                           Participant's death.

                  (b)      Designation of Beneficiaries. The Participant may
                           designate a primary and contingent beneficiary or
                           beneficiaries on forms provided by the Committee,
                           which for this purpose may include the Participation
                           Agreement. Such designation may be changed at any
                           time for any reason by the Participant. If the
                           Participant fails to designate a beneficiary, or if
                           such designation shall for any reason be illegal or
                           ineffective, or if the designated beneficiary(ies)
                           shall not survive the Participant, his benefits under
                           the Plan shall be paid: (i) to his surviving spouse;
                           (ii) if there is no surviving spouse, to the duly
                           appointed and qualified executor or other personal
                           representative of the Participant to be distributed
                           in accordance with the Participant's will or
                           applicable intestacy law; or (iii) in the event that
                           there shall be no such representative duly appointed
                           and qualified within 45 days after the date of death
                           of the Participant, then to such persons as, at the
                           date of his death, who would be entitled to share in
                           the distribution of the Participant's estate under
                           the provisions of the applicable statutes then in
                           force governing the descent of intestate property, in
                           the proportions specified in such statute. The
                           Committee may determine the identity of the
                           distributees, and in so doing may act and rely upon
                           any information it may deem reliable upon reasonable
                           inquiry, and upon any affidavit, certificate, or
                           other document believed by it to be genuine, and upon
                           any evidence believed by it to be sufficient.

                                   ARTICLE VI
                               PLAN ADMINISTRATION
                               -------------------

         6.1 Administration by the Committee. The Committee shall be responsible
for administering the Plan. Except as the Company shall otherwise expressly
determine, the Committee shall be charged with the full power and the
responsibility for administering the Plan in all its details.

         6.2 Powers and Responsibilities of the Committee.

                                       6
<PAGE>

                  (a)      The Committee shall have all powers necessary to
                           administer the Plan, including the power to construe
                           and interpret the Plan documents; to decide all
                           questions relating to an individual's eligibility to
                           participate in the Plan; to determine whether a
                           Participant has actually retired or terminated
                           employment; to determine the amount, manner and
                           timing of any distribution of benefits or withdrawal
                           under the Plan; to resolve any claim for benefits in
                           accordance with Section 6.4, and to appoint or employ
                           advisors, including legal counsel, to render advice
                           with respect to any of the Committee's
                           responsibilities under the Plan. Any construction,
                           interpretation, or application of the Plan by the
                           Committee shall be final, conclusive and binding. All
                           actions by the Committee shall be taken pursuant to
                           uniform standards applied to all persons similarly
                           situated.

                  (b)      Records and Reports. The Committee shall be
                           responsible for maintaining sufficient records to
                           determine each Participant's eligibility to
                           participate in the Plan, and the Incentive
                           Compensation of each Participant for purposes of
                           determining the amount of contributions that may be
                           made by or on behalf of the Participant under the
                           Plan.

                  (c)      Rules and Decisions. The Committee may adopt such
                           rules as it deems necessary, desirable, or
                           appropriate in the administration of the Plan. All
                           rules and decisions of the Committee shall be applied
                           uniformly and consistently to all Participants in
                           similar circumstances. When making a determination or
                           calculation, the Committee shall be entitled to rely
                           upon information furnished by a Participant or
                           beneficiary, the Employer or the legal counsel of the
                           Company.

                  (d)      Application and Forms for Benefits. The Committee may
                           require a Participant or beneficiary to complete and
                           file with it an application for a benefit, and to
                           furnish all pertinent information requested by it.
                           The Committee may rely upon all such information so
                           furnished to it, including the Participant's or
                           beneficiary's current mailing address.

         6.3 Liabilities. The Committee shall be indemnified and held harmless
by the Employers with respect to any actual or alleged breach of
responsibilities performed or to be performed under the Plan.

         6.4 Claims Procedure.

                  (a)      Filing a Claim. Any Participant or Beneficiary under
                           the Plan may file a written claim for a Plan benefit
                           with the Committee or with a person named by the
                           Committee to receive claims under the Plan.

                  (b)      Notice of Denial of Claim. In the event of a denial
                           or limitation of any benefit or payment due to or
                           requested by any Participant or beneficiary under the
                           Plan ("claimant"), the claimant shall be given a

                                       7
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                           written notification containing specific reasons for
                           the denial or limitation of his benefit. The written
                           notification shall contain specific reference to the
                           pertinent Plan provisions on which the denial or
                           limitation of his benefit is based. In addition, it
                           shall contain a description of any other material or
                           information necessary for the claimant to perfect a
                           claim, and an explanation of why such material or
                           information is necessary. The notification shall
                           further provide appropriate information as to the
                           steps to be taken if the claimant wishes to submit
                           his claim for review. This written notification shall
                           be given to a claimant within 90 days after receipt
                           of his claim by the Committee unless special
                           circumstances require an extension of time for
                           processing the claim. If such an extension of time
                           for processing is required, written notice of the
                           extension shall be furnished to the claimant prior to
                           the termination of said 90-day period, and such
                           notice shall indicate the special circumstances which
                           make the postponement appropriate.

                  (c)      Right of Review. In the event of a denial or
                           limitation of his benefit, the claimant or his duly
                           authorized representative shall be permitted to
                           review pertinent documents and to submit to the
                           Committee issues and comments in writing. In
                           addition, the claimant or his duly authorized
                           representative may make a written request for a full
                           and fair review of his claim and its denial by the
                           Committee; provided, however, that such written
                           request must be received by the Committee (or its
                           delegate to receive such requests) within 60 days
                           after receipt by the claimant of written notification
                           of the denial or limitation of the claim. The 60-day
                           requirement may be waived by the Committee in
                           appropriate cases.

                  (d)      Decision on Review. A decision shall be rendered by
                           the Committee within 60 days after the receipt of the
                           request for review, provided that where special
                           circumstances require an extension of time for
                           processing the decision, it may be postponed on
                           written notice to the claimant (prior to the
                           expiration of the initial 60-day period) for an
                           additional 60 days after the receipt of such request
                           for review. Any decision by the Committee shall be
                           furnished to the claimant in writing and shall set
                           forth the specific reasons for the decision and the
                           specific Plan provisions on which the decision is
                           based.

                  (e)      Court Action. No Participant or beneficiary shall
                           have the right to seek judicial review of a denial of
                           benefits, or to bring any action in any court to
                           enforce a claim for benefits prior to filing a claim
                           for benefits or exhausting his rights to review under
                           this Section 6.4.

         6.5 Income and Employment Tax Withholding. The Company shall be
responsible for withholding, and the Participant shall agree to such
withholdings in his Participation Agreement from the Participant's Incentive
Compensation or from the distribution of his benefit under the Plan of all
applicable federal, state, city and local taxes.

                                       8
<PAGE>

                                   ARTICLE VII
                      AMENDMENT AND TERMINATION OF THE PLAN
                      -------------------------------------

         7.1 Amendment of the Plan. The Company shall have, in its sole
discretion, the right at any time for any reason to modify, alter or amend the
Plan in whole or in part.

         7.2 Termination of the Plan. The Company reserves the right, in its
sole discretion, at any time for any reason to terminate the Plan or to reduce
or cease benefit accruals at any time.

                                  ARTICLE VIII
                                  MISCELLANEOUS
                                  -------------

         8.1 Governing Law. The Plan shall be construed, regulated and
administered according to the laws of the State of Indiana, except in those
areas preempted by the laws of the United States of America in which case such
laws will control.

         8.2 Headings and Gender. The headings and subheadings in the Plan have
been inserted for convenience of reference only and shall not affect the
construction of the provisions hereof. In any necessary construction the
masculine shall include the feminine and the singular the plural, and vice
versa.

         8.3 Participant's Rights; Acquittance. No Participant shall acquire any
right to be retained in an Employer's employ by virtue of the Plan, nor, upon
his dismissal, or upon his voluntary termination of employment, shall he have
any right or interest in or to any Plan assets other than as specifically
provided herein.

         8.4 Spendthrift Clause. No benefit or interest available hereunder will
be subject in any manner to anticipation, alienation, sale, transfer,
assignment, pledge, encumbrance, attachment or garnishment by creditors of the
Participant or the Participant's designated beneficiary, either voluntarily or
involuntarily.

         8.5 Counterparts. This Plan may be executed in any number of
counterparts, each of which shall constitute but one and the same instrument and
may be sufficiently evidenced by any one counterpart.

         8.6 No Enlargement of Employment Rights. Nothing contained in the Plan
shall be construed as a contract of employment between an Employer and any
person, nor shall the Plan be deemed to give any person the right to be retained
in the employ of an Employer or limit the right of an Employer to employ or
discharge any person with or without cause, or to discipline any Employee.

         8.7 Limitations on Liability. Notwithstanding any of the preceding
provisions of the Plan, no officer or employee of an Employer, no member of the
Committee nor any individual acting as an employee or agent of any of them shall
be liable to any Participant, Employee or beneficiary for any claim, loss,
liability or expense incurred in connection with the Plan, except

                                       9
<PAGE>

when the same shall have been judicially determined to be due to the gross
negligence or willful misconduct of such person.

         8.8 Incapacity of Participant or Beneficiary. If any person entitled to
receive a distribution under the Plan is physically or mentally incapable of
personally receiving and giving a valid receipt for any payment due (unless
prior claim therefor shall have been made by a duly qualified guardian or other
legal representative), then, unless and until claim therefor shall have been
made by a duly appointed guardian or other legal representative of such person,
the Committee may provide for such payment or any part thereof to be made to any
other person or institution then contributing toward or providing for the care
and maintenance of such person. Any such payment shall be a payment for the
account of such person and a complete discharge of any liability of the
Employers and the Plan.

         8.9 Corporate Successors. The Plan shall not be automatically
terminated by a transfer or sale of assets of the Company or by the merger or
consolidation of the Company into or with any other corporation or other entity
("Transaction"), but the Plan shall be continued after the Transaction only if
and to the extent that the transferee, purchaser or successor entity agrees to
continue the Plan.

         8.10 Evidence. Evidence required of anyone under the Plan may be by
certificate, affidavit, document or other information which the person relying
thereon considers pertinent and reliable, and signed, made or presented by the
proper party or parties.

         8.11 Action by Employer. Any action required of or permitted by an
Employer under the Plan shall be by resolution of its Board of Directors or, for
the Company, by resolution of the Board or the Committee or by a person or
persons authorized by resolution of the Board or the Committee.

         8.12 Severability. In the event any provisions of the Plan shall be
held to be illegal or invalid for any reason, such illegality or invalidity
shall not affect the remaining parts of the Plan, and the Plan shall be
construed and endorsed as if such illegal or invalid provisions had never been
contained in the Plan.

                                   SIGNATURES
                                   ----------

         IN WITNESS WHEREOF, the Company has caused this Monroe Bancorp
Executives' Deferred Compensation Plan to be amended and restated by its
officers thereunder duly authorized, this 30th day of December, 1998, but
effective as of January 1, 1999.

                                                     MONROE BANCORP

                                                     By:  /s/ Mark D. Bradford
                                                          --------------------
                                                     Its:  Secretary/Treasurer
                                                           -------------------
ATTEST:
By:  /s/ R. Scott Walters
     --------------------
Its:  Assistant Secretary/Assistant Treasurer
      ---------------------------------------

                                       10
<PAGE>

                               FIRST AMENDMENT OF
                                 MONROE BANCORP
                     EXECUTIVES' DEFERRED COMPENSATION PLAN
                     --------------------------------------

               (As Amended and Restated Effective January 1, 1999)

         WHEREAS, Monroe Bancorp ("Company") maintains the Monroe Bancorp
Executives' Deferred Compensation Plan (As Amended and Restated Effective
January 1, 1999) ("Plan"); and

         WHEREAS, the Company desires to amend the Plan to allow Participants to
defer up to fifty (50) percent of their base salary; and

         NOW, THEREFORE, pursuant to the authority reserved to the Company to
amend the Plan and delegated to the undersigned officers by action of the Board
of Directors, the Plan is hereby amended, effective on and after May 1, 1999, as
follows:

         1. By deleting the word "incentive" from the Introduction of the Plan.

         2. By substituting the following for Section 1.5 of the Plan:

                  "1.5 `Compensation' means the Participant's base salary,
annual bonuses and any other forms of compensation payable by the Employer and
designated as incentive compensation by the Board or Committee, including any
Participant Salary Deferral Contributions made on behalf of the Participant
under this Plan or salary reductions made pursuant to a plan which qualifies
under Section 401(k) of the Internal Revenue Code and/or Section 125 of the
Internal Revenue Code."

         3. By deleting the word "Incentive" wherever it appears in the
following sections of the Plan:

                  Section 1.12
                  Section 3.1(a)
                  Section 3.2(a)
                  Section 3.2(b)
                  Section 3.2(c)
                  Section 3.3(c)
                  Section 4.2
                  Section 6.2(b)
                  Section 6.5

                                       11
<PAGE>

         4. By substituting the following for Section 3.1(b) of the Plan:

                  "(b) Limitations on Contributions. The maximum amount of a
Participant's Compensation that may be subject to Participant Salary Deferral
Contributions for a Plan Year shall be (i) 50 percent of the Participant's base
salary and (ii) 100 percent of the Participant's annual bonuses or other
incentive compensation."

         5. By substituting the phrase "will withhold payment of the
Participant's Compensation in accordance with Section 3.1" for the phrase "will
withhold payment of all or a portion of the Participant's Incentive
Compensation" where that phrase appears in Section 3.2(a) of the Plan.

         6. By adding the following to the end of Section 3.2(b) of the Plan:

"Notwithstanding the foregoing, an election to defer base salary payable after
May 1, 1999 may be made anytime prior to that date. Any election to defer base
salary or any change to an election to defer base salary made after May 1, 1999
will only be effective for base salary payable sixty (60) days or more following
the date the Participation Agreement containing the election is executed."

         IN WITNESS WHEREOF, the Company has caused this amendment to be
executed on its behalf by its duly authorized officers this 15th day of April,
1999.

                                    MONROE BANCORP

                                    By: /s/ Charles G. Conville
                                        -----------------------

                                    Its: Chairman, President and Chief Executive
                                         ---------------------------------------
                                         Officer
                                         -------

ATTEST:

By:  /s/ Kathryn E. Burns
     --------------------

Its:  Vice President/Controller
      -------------------------

                                       12
<PAGE>

                               SECOND AMENDMENT OF
                                 MONROE BANCORP
                     EXECUTIVES' DEFERRED COMPENSATION PLAN
                     --------------------------------------

               (As Amended and Restated Effective January 1, 1999)

         WHEREAS, Monroe Bancorp (the "Company") maintains the Monroe Bancorp
Executives' Deferred Compensation Plan (As Amended and Restated Effective
January 1, 1999) (the "Plan"); and

         WHEREAS, the Company desires to amend the Plan to clarify the timing of
distribution elections;

         NOW, THEREFORE, pursuant to the authority reserved to the Company to
amend the Plan and delegated to the undersigned officers by action of the Board
of Directors, the Plan is hereby amended, effective on and after January 1,
2000, by substituting the phrase "in which the Participant terminates employment
with all the Employers or in which the benefit is otherwise scheduled to be
distributed, if earlier" for the phrase "in which the distribution event occurs"
where that phrase appears in Section 5.3 of the Plan.

         IN WITNESS WHEREOF, the Company has caused this amendment to be
executed on its behalf by its duly authorized officers this 16th day of
December, 1999.

                                           MONROE BANCORP

                                      By: /s/ Mark D. Bradford
                                          --------------------------------------

                                      Its: President and Chief Executive Officer
                                           -------------------------------------

ATTEST:

By: /s/ Gordon M. Dyott
    --------------------------------
Its: Vice President
     -------------------------------

                                       13
<PAGE>

                               THIRD AMENDMENT OF
                                 MONROE BANCORP
                     EXECUTIVES' DEFERRED COMPENSATION PLAN
                     --------------------------------------

               (As Amended and Restated Effective January 1, 1999)

         WHEREAS, Monroe Bancorp (the "Company") maintains the Monroe Bancorp
Executives' Deferred Compensation Plan (As Amended and Restated Effective
January 1, 1999) (the "Plan"); and

         WHEREAS, the Company desires to amend the Plan to change the timing of
distribution elections and the manner of payment, and to update the claims
procedures;

         NOW, THEREFORE, pursuant to the authority reserved to the Company to
amend the Plan and delegated to the undersigned officers by action of the Board
of Directors, the Plan is hereby amended, generally effective on and after
January 1, 2004, unless otherwise specified herein, in the following
particulars:

         1.       By replacing the first sentence of Section 5.1 of the Plan
                  with the following:

                  "All amounts credited to a Participant's Deferral Account,
                  including any adjustments credited in accordance with Section
                  3.3(b), shall be or commence to be distributed to or for the
                  benefit of a Participant (or his designated beneficiary) as
                  soon as practicable following the Participant's death or
                  Disability, or, if earlier, the later of (i) the last day of
                  the Plan Year in which the Participant terminates employment
                  with the Company as an executive officer, or (ii) an age (no
                  later than age 70 1/2) specified by the Participant in his
                  most recently filed Participation Agreement."

         2.       By replacing subsection 5.2(b) of the Plan with the following:

                  "(b)     Installments payable at such quarterly, semi-annual
                           or annual intervals, over a period not in excess of
                           20 years, as shall be elected by the Participant."

         3.       By adding the following sentence to follow the first sentence
                  of Section 5.3(a) effective December 18, 2003:

                  "Notwithstanding the preceding sentence a Participant may
                  elect to change the manner in which the benefits shall be
                  distributed (including benefits which become payable as a
                  result of the Participant's death) by delivering an amended
                  Participation Agreement to the Committee by December 31, 2003
                  and such election shall be effect 60 days after the Committee
                  receives the election."

         4.       By deleting the word "monthly" from Section 5.3(b).

                                       14
<PAGE>

         5.       By replacing subsection 5.4(a) of the Plan with the following:

                  "(a)     In the event of a Participant's death prior to any
                           distribution of benefits, the balance in the
                           Participant's Deferral Account shall be paid or
                           commence to be paid to the Participant's designated
                           beneficiary in the manner elected by the Participant
                           in his most recently filed Participation Agreement.
                           Such distribution shall be paid or commenced as soon
                           as practicable following the date of the
                           Participant's death. If the Participant dies after
                           distribution of his benefits under the Plan has
                           commenced, his remaining benefit, if any, shall be
                           distributed in the same manner and at the same
                           time(s) as such benefit was being distributed prior
                           to his death, or in a single sum, if effectively
                           elected by the Participant in his most recently filed
                           Participation Agreement."

         6.       By replacing Section 6.4 of the Plan with the following
                  effective January 1, 2002:

                  "6.4     Claims and Review Procedure.

                  (a)      Procedures Governing the Filing of Benefit Claims.
                           All Benefit Claims must be filed on the appropriate
                           claim forms available from the Committee or in
                           accordance with the procedures established by the
                           Committee for claim purposes. A "Benefit Claim" means
                           a request for a Plan benefit or benefits, made by a
                           Claimant or by an authorized representative of a
                           Claimant, which complies with the Plan's procedures
                           for making benefit claims. "Claimant" means a
                           Participant or a beneficiary who is claiming
                           entitlement to the payment of any benefit under the
                           Plan.

                  (b)      Notification of Benefit Determinations. The Committee
                           will notify a Claimant, in accordance with subsection
                           (c) below, of the Plan's benefit determination within
                           a reasonable period of time after receipt of a
                           Benefit Claim, but not later than 90 days (45 days in
                           the case of a Disability Claim) after receipt of the
                           Benefit Claim by the Plan.

                           If special circumstances require an extension of time
                           for processing the Benefit Claim, the Committee will
                           notify the Claimant of the extension prior to the
                           termination of the initial period described above.
                           The notice will indicate the special circumstances
                           requiring the extension of time and the date by which
                           the Plan expects to make the benefit determination.
                           In no event will the extension exceed a period of 90
                           days from the end of the initial period.

                           In the case of a Disability Claim, the extension
                           period will not exceed 30 days, unless prior to the
                           end of first 30-day extension period, the Committee
                           determines that, due to matters beyond its control, a
                           decision cannot be rendered within the extension
                           period, in which case the period for making the
                           determination may be extended for an additional 30
                           days.

                                       15
<PAGE>

                           Every Disability Claim notice will specifically
                           explain the standards on which entitlement to a
                           benefit is based, the unresolved issues that prevent
                           a decision on the claim, the additional information
                           needed to resolve those issues and the Claimant's
                           right to provide the specified information within 45
                           days. If the extension is in effect due to the
                           Claimant's failure to submit information necessary to
                           decide a Disability Claim, the period for making the
                           benefit determination will be tolled from the date on
                           which the notice of the extension is sent to the
                           Claimant until the date on which the Claimant
                           responds to the request for information. The term
                           "Disability Claim" means a request for a Plan benefit
                           made by a Claimant due to the purported Disability of
                           a Plan Participant.

                  (c)      Manner and Content of Notification of Benefit
                           Determinations. All notices given by the Committee
                           under the Plan will be given to a Claimant, or to his
                           authorized representative, in a manner that satisfies
                           the standards of 29 CFR 2520.104b-1(b) as appropriate
                           with respect to the particular material required to
                           be furnished or made available to that individual.
                           The Committee may provide a Claimant with either a
                           written or an electronic notice of the Plan's benefit
                           determination. Any electronic notification will
                           comply with the standards imposed by 29 CFR
                           2520.104b-1(c)(1)(i), (iii) and (iv). In the case of
                           an Adverse Benefit Determination, the notice will set
                           forth, in a manner calculated to be understood by the
                           Claimant:

                           (i)      The specific reasons for the adverse
                                    determination;

                           (ii)     Reference to the specific Plan provisions
                                    (including any internal rules, guidelines,
                                    protocols, criteria, etc.) on which the
                                    determination is based;

                           (iii)    A description of any additional material or
                                    information necessary for the Claimant to
                                    complete the claim and an explanation of why
                                    such material or information is necessary;

                           (iv)     For a Disability Claim, the identification
                                    of any medical or vocational experts whose
                                    advice was obtained on behalf of the Plan in
                                    connection with Claimant's Adverse Benefit
                                    Determination, without regard to whether the
                                    advice was relied upon; and

                           (v)      A description of the Plan's review
                                    procedures and the time limits applicable to
                                    such procedures.

                  (d)      Appeal of Adverse Benefit Determinations. A Claimant
                           who receives an Adverse Benefit Determination and
                           desires a review of that determination must file, or
                           his authorized representative must file on his
                           behalf, a written request for a review of the Adverse
                           Benefit Determination, not later than

                                       16
<PAGE>

                           60 days (180 days for a Disability Claim) after
                           receiving the determination.

                           The written request for a review must be filed with
                           the Committee. Upon receiving the written request for
                           review, the Committee will advise the Claimant, or
                           his authorized representative, in writing that:

                           (i)      The Claimant, or his authorized
                                    representative, may submit written comments,
                                    documents, records, and any other
                                    information relating to the claim for
                                    benefits; and

                           (ii)     The Claimant will be provided, upon request
                                    of the Claimant or his authorized
                                    representative, reasonable access to, and
                                    copies of, all documents, records, and other
                                    information relevant to the Claimant's
                                    Benefit Claim, without regard to whether
                                    those documents, records, and information
                                    were considered or relied upon in making the
                                    Adverse Benefit Determination that is the
                                    subject of the appeal.

                  (e)      Benefit Determination on Review. All appeals by a
                           Claimant of an Adverse Benefit Determination will
                           receive a full and fair review by an appropriate
                           named fiduciary of the Plan. In the case of a
                           Disability Claim, the named fiduciary will not be:
                           (i) the party who made the Adverse Benefit
                           Determination that is the subject of the appeal, nor
                           (ii) the subordinate of that party. In performing
                           this review for a Disability Claim, the named
                           fiduciary will take into account all comments,
                           documents, records, and other information submitted
                           by the Claimant (or the Claimant's authorized
                           representative) relating to the claim, without regard
                           to whether the information was submitted or
                           considered in the initial benefit determination, and
                           will not afford deference to the initial Adverse
                           Benefit Determination. For a Disability Claim, the
                           named fiduciary will consult with a healthcare
                           professional who has appropriate training and
                           experience in the field of medicine involved in the
                           medical judgment and who was not consulted in
                           connection with the Adverse Benefit Determination and
                           who is not the subordinate of such an individual if
                           the named fiduciary believes that such a consultation
                           is necessary to properly complete the review process.

                  (f)      Notification of Benefit Determination on Review. The
                           Committee will notify a Claimant, in accordance with
                           subsection (g) below, of the Plan's benefit
                           determination on review within a reasonable period of
                           time, but not later than 60 days (45 in the case of a
                           Disability Claim) after the Plan's receipt of the
                           Claimant's request for review of an Adverse Benefit
                           Determination. If, however, special circumstances
                           require an extension of time for processing the
                           review by the named fiduciary, the Claimant will be
                           notified, prior to the termination of the initial 60
                           (or 45) day period, of

                                       17
<PAGE>

                           the special circumstances requiring the extension and
                           the date by which the Plan expects to render the
                           Plan's benefit determination on review, which will
                           not be later than 120 days (90 days in the case of a
                           Disability Claim) after receipt of a request for
                           review. Provided, however, in the case of a Plan with
                           a Committee or other group designated as the
                           appropriate named fiduciary that holds regularly
                           scheduled meetings at least quarterly, the time limit
                           of this subsection will be modified in accordance
                           with 29 CFR 2560.503-1(i)(1)(ii) or 29 CFR
                           2560.503-1(i)(3)(ii), whichever is applicable.

                           If the extension period is in effect for a Disability
                           Claim but the extension is due to the Claimant's
                           failure to submit information necessary to decide a
                           claim, the period for making the benefit
                           determination on review will be tolled from the date
                           on which notification of the extension is sent to the
                           Claimant until the date on which the Claimant
                           responds to the request for additional information.

                  (g)      Manner and Content of Notification of Benefit
                           Determination on Review. The Committee will provide a
                           Claimant with notification of its benefit
                           determination on review in a method described in
                           subsection (c) above.

                           In the case of an Adverse Benefit Determination on
                           review, the notification must set forth, in a manner
                           calculated to be understood by the Claimant:

                           (a)      The specific reasons for the adverse
                                    determination on review;

                           (b)      Reference to the specific Plan provisions
                                    (including any internal rules, guidelines,
                                    protocols, criteria, etc.) on which the
                                    benefit determination on review 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 to the Claimant's Benefit Claim,
                                    without regard to whether those records were
                                    considered or relied upon in making the
                                    Adverse Benefit Determination on review,
                                    including any reports, and the identities,
                                    of any experts whose advice was obtained.

                  (h)      Court Action. No Participant or beneficiary shall
                           have the right to seek judicial review of a denial of
                           benefits, or to bring any action in any court to
                           enforce a claim for benefits, prior to filing a claim
                           for benefits and exhausting his rights to review
                           under this Section 6.4.

                                       18
<PAGE>

         IN WITNESS WHEREOF, the Company has caused this amendment to be
executed on its behalf by its duly authorized officers this 18th day of
Decenber, 2003.

                                     MONROE BANCORP

                                     By: /s/ Mark D. Bradford
                                         --------------------

                                     Its: /s/ President, Chief Executive Officer
                                          --------------------------------------

ATTEST:

By:  /s/ R. Scott Walters
     --------------------

Its:  Secretary
      ---------

                                       19Exhibit 10a

                    LOAN MODIFICATION AND EXTENSION AGREEMENT

Date:           March 1, 2004

Borrower:       WEB PRESS CORPORATION

Lender:         KEYBANK NATIONAL ASSOCIATION

Note:          Promissory Note Number 2000009502 (the "Note"), dated April 7,
               1999, in the original principal amount of $3,000,000, including
               any and all modifications and amendments thereto.

Security       Agreement: Commercial Security Agreement dated April 7, 1999 (the
               "Security Agreement"), wherein Borrower granted Lender a first
               priority perfected security interest in, among other collateral,
               all of Borrower's inventory, chattel paper, accounts, equipment,
               machinery and general intangibles (the "Collateral")

Loan Agreement: Dated April 7, 1999, and as amended and/or modified thereafter
                (the "Loan Agreement")

Account #       93826.-2010039502

     FOR VALUE RECEIVED, the sufficiency of which is duly acknowledge, Borrower
and Lender hereby agree to modify the above-referenced Note as Follows:

1.   MODIFICATION PROVISIONS.
     ------------------------

     a.   The Note shall be bifurcated into two components, a term note (the
          "Term Note"), which shall be in the principal amount of $1,514,608.57,
          and a line of credit note (the "LOC Note"), which shall be in the
          principal amount of $1,000,000.

     b.   The Term Note shall have a fixed interest rate of 10% per annum for a
          period of six months from the date hereof. Commencing September 1,
          2004, the fixed rate of interest shall increase 2% to 12% per annum.
          Payments of principal and interest to Lender shall be calculated
          pursuant to a 20 year amortization schedule, but for a total term of
          12 months form the date hereof, at which time (March 1, 2005) all
          principal, interest and other Indebtedness owing Lender shall be paid
          in full. In addition, on or before March 15, 2004, Borrower shall pay
          Lender the sum of $85,391.43 in reduction of principal. On or before
          June 1, 2004, October 1, 2004 and February 1, 2005, respectively,
          Borrower shall make additional payments in further reduction of
          principal in the minimum amount of $25,000 per

                                       1
<PAGE>

          payment. All Indebtedness owing Lender under the Term Note shall be
          secured by the Collateral.

     c.   The LOC Note shall have a variable interest rate equal to the Prime
          Rate plus 6% per annum for a period of six months from the date
          hereof. Commencing September 1, 2004, the variable interest rate shall
          increase 2% to the Prime Rate plus 8% per annum. Borrower shall pay
          Lender all accrued interest monthly in addition to the following
          payment schedule. On June 1, 2004, October 1, 2004 and February 1,
          2005, respectively, Borrower shall make additional payments in further
          reduction of the LOC Note in the minimum amount of $25,000 per payment
          (the "LOC Principal Payments"). In addition to reducing the principal
          amount of the LOC Note, each of the LOC Principal Payments shall
          constitute a permanent reduction to the Line of credit feature
          associated with the LOC Note that is referenced and provided for in
          the Note. All principal, interest and other Indebtedness owing Lender
          shall be paid in full on or before March 1, 2005. All Indebtedness
          owing Lender under the LOC Note shall be secured by the Collateral.

     2.   CONDITIONS. The modification described above is subject to and
          conditioned upon Borrower's full satisfaction of the following
          conditions on or before March 5, 2004, time being of the essence:

          a.   There shall be no uncured Event of Default under the Loan
               Agreement or the Note, nor any event or condition which with
               notice or the passage of time would be an Event Of Default
               thereunder.

          b.   Borrower shall deliver to Lender a fully executed original of
               this Loan. Modification And Extension Agreement ("Agreement"),
               and any other documents or agreements requested by Lender.

          c.   All expenses incurred by Lender in connection with this Agreement
               (including without limitation, attorney's fees [including
               in-house attorney's fees]), recording charges or collateral
               valuations, if required by Lender, shall be paid by Borrower.

          d.   Borrower shall pay Lender a Modification/Extension fee in the
               amount of $25,000.

3.   BORROWER'S ACKNOWLEDGMENTS, REPRESENTATIONS AND WARRANTIES.
     -----------------------------------------------------------

     Borrower acknowledges, represents and warrants to Lender as follows:

     a.   That Borrower is in default under the Loan Agreement. Prior to signing
          this Agreement, Borrower's Note matured and Borrower failed to pay
          Lender all principal, interest and other Indebtedness owing Lender as
          was provide for under the Note, thus constituting an Event Of Default
          under Note and the Loan

                                       2
<PAGE>

          Agreement. As a result of such Event Of Default, and in absence of
          this Agreement, all commitments and obligations of Lender under the
          Loan Agreement, the Note and the other Loan Documents immediately
          would terminate (including any obligation to make Loan Advances or
          Disbursements) and all Indebtedness owing Lender under the Note and
          the other Loan Documents immediately would become due and payable. .
          b. That other than modifying the Loan Documents expressly as provided
          herein, nothing herein shall be construed as a commitment, agreement
          or other accommodation, now or in the future, to lend any sums
          whatsoever to Borrower. Lender will review and evaluate any proposal
          submitted by Borrower in the future and will determine, in Lender's
          sole and absolute discretion, whether it is willing to offer Borrower
          any commitment or agreement to extend credit to Borrower or provide
          Borrower with any other accommodation whatsoever.

4.   GENERAL PROVISIONS. All capitalized terms herein shall have the meanings
     set forth in the Loan Documents. Except as expressly modified herein, all
     other provisions of the Note, the Security Agreement, the Loan Agreement
     and any other documents or agreements securing or relating to the
     Indebtedness owing Lender by Borrower (collectively the "Loan Documents")
     remain in full force and effect. All Collateral granted to Lender to secure
     the Indebtedness shall continue in full force. Borrower warrants and
     represents to Lender that it has full right, power and authority to enter
     into this Agreement and to perform all its obligations hereunder, and that
     all information and materials submitted to Lender in connection with this
     Agreement are accurate and complete. Except as specified herein, Borrower
     warrants that no default exists under the Loan Documents. Borrower
     reaffirms its obligation to pay the Indebtedness in full and reaffirms the
     validity and enforceability of the Loan Documents, without set-off,
     counterclaim or defense.

5.   RELEASE. EFFECTIVE AS OF THE DATE OF THE EXECUTION AND DELIVERY OF THIS
     AGGREMENT, THE BORROWER AGREES TO RELEASE AND HEREBY DOES RELEASE AND
     DISCHARGE, LENDER, ITS SHAREHOLDERS AGENTS, SERVANTS, EMPLOYEES, DIRECTORS,
     OFFICERS, ATTORNEYS, AFFILIATES, SUBSIDIARIES, PREDECESSORS, SUCCESSORS AND
     ASSIGNS AND ALL PERSONS, FIRMS, CORPORATIONS, AND ORGANIZATIONS ACTING ON
     THEIR BEHALF (COLLECTIVELY THE "LENDER PARTIES") OF AND FROM ALL DAMAGES,
     LOSSES, CLAIMS, DEMANDS, LIABILITIES, OBLIGATIONS, ACTIONS AND CAUSES OF
     ACTION WHATSOEVER THAT THE BORROWER HAS OR CLAIMS TO HAVE AGAINST ANY
     LENDER PARTY AS OF THE DATE HEREOF AND WHETHER KNOWN OR UNKNOWN AT THE TIME
     OF THIS RELEASE, AND OF EVERY NATURE AND EXTENT WHATSOEVER ON ACCOUNT OF OR
     IN ANY WAY, DIRECTLY OR INDIRECTLY, TOUCHING, CONCERNING, ARISING OUT OF OR
     FOUNDED UPON THE LOAN DOCUMENTS OR THE LENDING

                                       3
<PAGE>

     RELATIONSHIP RESPECTING THE INDEBTEDNESS BETWEEN THE BORROWER AND ANY
     LENDER PARTY. THIS RELEASE WILL NOT EXTEND TO ANY CLAIM ARISING AFTER THE
     DATE OF THIS AGREEMENT TO THE EXTENT SUCH CLAIM IS BASED ON ACTS OR
     OMISSIONS OF THE LENDER OCCURRING AFTER THE DATE OF THIS AGREEMENT EXCEPT
     THAT SUCH RELEASE IS SPECIFICALLY INTENDED BY THE PARTIES TO INCLUDE THE
     TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT. Lender would not agree to
     enter into this Agreement but for the provisions set forth in this Section
     5. The Borrower confirms that it has agreed to the provisions of this
     Sections 5 of its own volition, with full knowledge of the extent and
     effect of the various releases and waivers granted by this Section and of
     the importance to Lender of these waivers and releases and after having had
     the opportunity to discuss this matter with counsel of its own choice.

BORROWER ACHNOLEDGES THAT:

ORAL AGREEEMNTS OR ORAL COMMITMENTS TO LOAN MONEY, EXTEND
---------------------------------------------------------
CREDIT OR TO FORBEAR FROM ENFORCING REPAYMENT OF A DEBT ARE
-----------------------------------------------------------
NOT ENFORCEABLE UNDER WASHINGTON LAW.
-------------------------------------

     IN WITHNESS WHEREOF, the parties hereto have executed this Agreement as of
the day and year first written above:

LENDER:

KEYBANK NATIONAL ASSOCIATION

/s/ Judy John
-------------
By: Judy John
Its: Vice President

BORROWER:

WEB PRESS CORPORATION

/s/ Gary Palmer
---------------
By: Gary Palmer, President

                                       4

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