Document:

Exhibit 4.2

                                WARRANT AGREEMENT
                                -----------------

      THIS AGREEMENT, dated as of this 28th day of June, 2004, is by and between
Two River Community Bank, a New Jersey state chartered bank (the "Bank") and
Registrar and Transfer Company, as warrant agent, (the "Warrant Agent").

                               W I T N E S S E T H

      WHEREAS, the Bank is making an offering (the "Offering") of units, each
consisting of one share of its common stock, par value $2.00 (the "Common
Stock") and one warrant to purchase the Bank's Common Stock (the "Warrants").

      WHEREAS, the Bank desires to appoint the Warrant Agent to act on its
behalf in connection with the (i) issuance, transfer and exchange of the
certificates representing the Warrants (the "Warrant Certificates"), (ii) the
exercise of the Warrants by the holders thereof (together with any successors or
assigns, the "Holders") and (iii) the adjustment of the Warrants in certain
events as contained herein;

      NOW, THEREFORE, the parties hereto hereby agree as follows:

      1. APPOINTMENT OF WARRANT AGENT. The Bank hereby appoints the Warrant
         ----------------------------
Agent as its agent to issue the Warrant Certificates, as set forth herein,
subject to resignation or replacement as provided herein. The Warrant Agent
agrees to accept such appointment, subject to the terms and conditions as set
forth herein, and to issue, transfer and exchange the Warrant Certificates
pursuant to the terms as provided for herein and to notify Registrar and
Transfer Company, in its capacity as the Bank's transfer agent (the "Transfer
Agent") to issue the certificates representing the appropriate number of shares
of Common Stock (or other consideration) upon exercise of the Warrants. The Bank
agrees to issue and honor the Warrants on the terms and conditions as herein set
forth and to instruct the Transfer Agent to issue its Common Stock (or other
securities) upon notice from the Warrant Agent of the proper exercise of any
Warrant. The Warrant Agent is hereby empowered to enforce any rights of the
Holders for the benefit of any Holders, subject to the terms and conditions
contained herein.

      2. ISSUANCE OF WARRANT CERTIFICATES.
         --------------------------------

      2.1. Form of Warrant Certificate. All Warrants shall be issued
           ---------------------------
substantially in the form of the Warrant Certificate annexed hereto as Exhibit
                                                                       -------
A. The terms of any such Warrant Certificate are incorporated herein by
-
reference.

      2.2. Execution of Warrants. No Warrants shall have been duly and validly
           ---------------------
issued until a Holder has received a Warrant Certificate executed by the
chairman or president of the Bank and the secretary or treasurer of the Bank and
such Certificate is countersigned by an authorized officer of the Warrant Agent.
Any Warrant Certificates may be executed by the officers of the Bank by means of
a facsimile signature. The Warrant Agent shall maintain the register of all
Holders.

      2.3. Maximum Number of Warrants. The Bank hereby authorizes the Warrant
           --------------------------
Agent to issue an aggregate of up to 400,000 Warrants pursuant to the terms
hereof.

<PAGE>

      2.4. Initial Holders. The Bank shall deliver to the Warrant Agent a list
           ---------------
of the names of the persons who shall be the initial Holders of the Warrants and
the number of Warrants to which each such person is entitled. The Warrant Agent
is hereby authorized by the Bank to promptly issue Warrant Certificates for up
to 400,000 Warrants upon receipt of the written request of the Bank, which shall
include the list referred to in the preceding sentence. The Bank shall deliver
to the Warrant Agent, along with this Warrant Agreement, a sufficient number of
duly executed Warrant Certificates. The Warrant Certificates shall be completed
and countersigned by the Warrant Agent and promptly delivered to the Transfer
Agent to be mailed or delivered to the Holders pursuant to the terms hereof.
When requested by the Warrant Agent, from time to time hereafter, the Bank will
execute additional Warrant Certificates in blank for the Warrant Agent to issue
hereunder.

      3. RIGHTS OF A HOLDER. Subject to adjustment as provided herein, each
         ------------------
Warrant shall evidence the right to purchase one share of the Bank's Common
Stock at the Warrant Price of $20.50. Following the Expiration Date, as defined
in Section 4.1 below, the Warrant shall be null and void.

      4. EXERCISE OF WARRANT.
         -------------------

      4.1. Exercise Period. The Warrants may be exercised, in whole or in part,
           ---------------
at any time during the period (the "Exercise Period"), as the same may be
amended in accordance with Section 5.3(b) hereof, commencing after May 1, 2006
(the "Initial Exercise Date") but not later than 5:00 P.M., Eastern time, on
June 30, 2006 (the "Expiration Date").

      4.2. Means of Exercise. In order to exercise a Warrant, the Holder must
           -----------------
present and surrender the Warrant Certificate to either the Warrant Agent at its
office or to the Bank at its office, prior to the Expiration Date, with the
Exercise Form on the back of the Warrant Certificate completed and duly executed
and it must be accompanied by payment in full, in the form of cash, by certified
or official bank check payable to the order of the Bank or its successor, of the
aggregate Warrant Price for the number of shares of Common Stock specified in
such Subscription Form.

      4.3. Issuance of Common Stock. Upon the request of the Warrant Agent, the
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Bank shall promptly deliver or cause the Transfer Agent to deliver a certificate
or certificates evidencing the shares of Common Stock purchased when any Warrant
is validly exercised, but in no event prior to the Initial Exercise Date. No
Shares need be issued by the Bank prior to any required regulatory approval and
the Bank may wait until the Expiration Date to seek regulatory approval. The
Bank agrees that such shares of Common Stock shall be deemed to be issued to the
Holder as the record holder of such shares as of the close of business on the
date on which the Warrant shall have been surrendered and payment made for such
shares as aforesaid.

      5. ADJUSTMENT OF WARRANT PRICE AND NUMBER OF SHARES PURCHASABLE AND OTHER
         ----------------------------------------------------------------------
TERMS IN CERTAIN EVENTS. The Warrant Price and the number of shares of Common
-----------------------
Stock purchasable upon exercise of any Warrant and the other terms and
conditions of the Warrant shall be subject to adjustment and modification as
follows in the circumstances provided:

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<PAGE>

      5.1. Declaration of Stock Dividend, Splits, Reverse Splits or
           --------------------------------------------------------
Reclassification or Reorganization.
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            (a) If during the period between the date a Warrant is issued and
the date Common Stock (or other securities) is issued upon exercise of the
Warrant (the "Outstanding Period" for such Warrant), the Bank shall declare any
dividend or other distribution upon its outstanding shares of Common Stock in
Common Stock or shall subdivide its outstanding shares of Common Stock into a
greater number of shares, then the number of shares of Common Stock which may
thereafter be purchased upon the exercise of the Warrant shall be increased in
proportion to the increase in the number of shares of Common Stock outstanding
through such dividend or subdivision and the Warrant Price per share shall be
decreased in such proportion. If the Bank shall at any time during the
Outstanding Period combine the outstanding shares of its Common Stock into a
smaller number of shares, the number of shares of Common Stock which may
thereafter be purchased upon the exercise of the Warrant shall be decreased in
proportion to the decrease in the number of shares of Common Stock outstanding
through such combination and the Warrant Price per share shall be increased in
such proportion. The Bank shall cause a notice to be mailed to each Holder at
least 20 days prior to the applicable record date for the activity covered by
this Section 5.1(a). The Bank's failure to give the notice required by this
Section 5.1(a) or any defect therein shall not affect the validity of the
activity covered by this Section 5.1(a).

            (b) If the Bank shall at any time during the Outstanding Period (i)
distribute any rights, options or warrants to all holders of shares of Common
Stock, (ii) issue other securities to all holders of shares of Common Stock by
reclassification of its shares of Common Stock, or (iii) issue by means of a
capital reorganization other securities of the Bank in lieu of the Common Stock
or in addition to the Common Stock, then the number of shares purchasable upon
exercise of the Warrant immediately prior thereto shall be adjusted so that the
Holder of the Warrant shall be entitled to receive the kind and number of shares
or other securities of the Bank which the Holder would have owned or have been
entitled to receive after the happening of the event described above, had the
Warrant been exercised immediately prior to the happening of such event or any
record date with respect thereto. The Bank shall cause a notice to be mailed to
each Holder at least 20 days prior to the applicable record date for the
activity covered by this Section 5.1(b). The Bank's failure to give the notice
required by this Section 5.1(b) or any defect therein shall not affect the
validity of the activity covered by this Section 5.1(b).

            (c) An adjustment made pursuant to this Section 5.1 shall become
effective immediately after the effective date of such event retroactive to the
record date, if any, for such event.

            (d) For the purpose of this Section 5.1, the term "shares of Common
Stock" shall mean (x) the class of stock designated as the Common Stock at the
date of this Warrant, or (y) any other class of stock resulting from successive
changes or reclassifications of such shares consisting solely of changes in par
value, from no par value to par value or from par value to no par value. In the
event that at any time, as a result of an adjustment made pursuant to this
Section 5.1, the Holder shall become entitled to purchase any shares of the Bank
other than shares of Common Stock, thereafter the number of such other shares so
purchasable upon

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<PAGE>

exercise of each Warrant and the Warrant Price of such shares shall be subject
to adjustment from time to time in a manner and on terms as nearly equivalent as
practicable to the provisions with respect to the shares of Common Stock
contained in this Section 5.1.

      5.2. Liquidation, Dissolution or Winding Up. Notwithstanding any other
           --------------------------------------
provisions hereof, in the event of the liquidation, dissolution, or winding up
of the affairs of the Bank (other than in connection with a consolidation,
merger or sale or conveyance of all or substantially all of its assets outside
of the ordinary course of business), the right to exercise any Warrant shall
terminate and expire at the close of business on the last full business day
before the earliest date fixed for the payment of any distributable amount on
the Common Stock. The Bank shall cause a notice to be mailed to each Holder at
least 20 days prior to the applicable record date for such payment stating the
date on which such liquidation, dissolution or winding up is expected to become
effective, and the date on which it is expected that holders of shares of Common
Stock of record shall be entitled to exchange their shares of Common Stock for
securities or other property or assets (including cash) deliverable upon such
liquidation, dissolution or winding up, and that each Holder may exercise
outstanding Warrants during such 20 day period and, thereby, receive
consideration in the liquidation on the same basis as other previously
outstanding shares of the same class as the shares acquired upon exercise. The
Bank's failure to give notice required by this Section 5.2 or any defect therein
shall not affect the validity of such liquidation, dissolution or winding up.

      5.3. Merger, Consolidation, etc.
           --------------------------

            (a) In case of any consolidation with or merger of the Bank into
another bank or sale or conveyance of all or substantially all of its assets
outside of the ordinary course of business (such consolidation, merger, sale or
conveyance, a "Change") then, as a condition of such Change, lawful and adequate
provisions shall be made whereby the Holders shall thereafter have the right to
receive upon payment of the Warrant Price in effect immediately prior to such
Change, upon the basis and upon the terms and conditions specified in this
Agreement (including but not limited to all provisions contained in this Section
5), and in lieu of the shares of the Bank's Common Stock purchasable upon the
exercise of the Warrants, such shares of stock, securities, cash or assets which
such Holder would have been entitled to receive after the happening of such
Change had such Warrant been exercised immediately prior to such Change. The
provisions of this Section 5.3 shall similarly apply to successive Changes. The
Bank shall cause a notice to be mailed to each Holder at least 20 days prior to
the applicable record date for the Change covered by this Section 5.3(a) and
shall provide notice of the Change and shall set forth the first and last date
on which the Holder may exercise outstanding Warrants. The Bank's failure to
give the notice required by this Section 5.3(a) or any defect therein shall not
affect the validity of the Change covered by this Section 5.3(a).

            (b) Notwithstanding the foregoing, if as a result of such Change,
holders of the Bank Common Stock shall receive consideration other than solely
in shares of stock or other securities in exchange for their Bank Common Stock,
the Bank may, at its option, fulfill its obligation hereunder by causing the
Notice required by Section 5.3(a) hereof to include notice to Holders of the
opportunity to exercise their Warrants before the applicable record date for the
Change, and thereby receive consideration in the Change, on the same basis as
other previously outstanding shares of the same class as the shares acquired
upon exercise. Delivery of

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<PAGE>

the notice specified in the preceding sentence to Holders shall constitute an
amendment of the Exercise Period. If such notice is provided to Holders,
Warrants not exercised in accordance with this Section 5.3(b) before
consummation of the Change shall be cancelled and become null and void on the
effective date of the Change. The notice provided by the Warrant Agent pursuant
to this Section 5.3(b) shall include a description of the terms of this
Agreement providing for cancellation of the Warrants in the event that Warrants
are not exercised by the prescribed date. The Bank's failure to give any notice
required by this Section 5.3(b) or any defect therein shall not affect the
validity of any such Change, provided that such Change is described in the proxy
materials delivered to shareholders of the Bank, describing and seeking a vote
on the Change.

      5.4. Duty to Make Fair Adjustments in Certain Cases. If any event occurs
           ----------------------------------------------
as to which in the opinion of the Board of Directors of the Bank the other
provisions of this Section 5 are not strictly applicable or if strictly
applicable would not fairly protect the purchase rights of the Holders in
accordance with the essential intent and principles of this Agreement, then the
Board of Directors shall make an adjustment in the application of such
provisions, in accordance with such essential intent and principles, as to
protect the purchase rights of the Holders. Notwithstanding the foregoing, the
issuance of Common Stock or any securities convertible into Common Stock by the
Bank either for cash or in a merger, consolidation, exchange or acquisition
shall not, by itself, constitute a basis for requiring any adjustment in the
Warrants unless specifically enumerated herein.

      5.5. Good Faith Determination. Any determination as to whether an
           ------------------------
adjustment or limitation of exercise is required pursuant to this Section 5 (and
the amount of any adjustment), shall be binding upon the Holders and the Bank if
made in good faith by the Board of Directors of the Bank.

      5.6. Notice of Adjustment. Whenever the number of shares of Common Stock
           --------------------
purchasable upon the exercise of the Warrants or the Warrant Price is adjusted,
the Bank shall promptly file in the custody of its Secretary or an Assistant
Secretary at its principal office and with the Warrant Agent, an officer's
certificate setting forth the number of shares of Common Stock (or other
securities) purchasable upon the exercise of the Warrants, the Warrant Price
after such adjustment, a statement, in reasonable detail, of the facts requiring
such adjustment and the computation by which such adjustment was made. Each such
officer's certificate shall be made available at all reasonable times for
inspection by the registered Holders, and the Warrant Agent shall, forthwith
after each such adjustment, promptly mail a copy of such certificate to such
Holders by first class mail, postage prepaid.

      5.7. No Change of Warrant Necessary. Irrespective of any adjustment in the
           ------------------------------
Warrant Price or in the number or kind of shares issuable upon exercise of the
Warrants, the Warrant Certificates may continue to express the same price and
number and kind of shares as are stated in the Warrant Certificates as initially
issued.

      6. SHARES TO BE FULLY PAID; RESERVATION OF SHARES. The Bank covenants and
         ----------------------------------------------
agrees for the benefit of the Holders:

      6.1. That all shares of Common Stock (or other securities) which may be
issued upon the exercise of the rights represented by the Warrant Certificates
will, upon issue

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<PAGE>

and payment of the aggregate Warrant Price therefor, be duly authorized, validly
issued, fully paid and non-assessable and free and clear of all liens and
encumbrances, with no personal liability attaching to the ownership thereof.

      6.2. That during the Outstanding Period of each Warrant, the Bank will at
all times have authorized and reserved for the purpose of issue upon exercise of
the rights evidenced by the Warrant Certificates, a sufficient number of shares
of Common Stock (or other securities) to provide for the exercise of the rights
represented by the Warrant Certificate.

      6.3. That the Bank will take all such action as may be necessary to ensure
that the shares of Common Stock (or other securities) issuable upon the exercise
of the Warrants may be so issued without violation of any applicable federal or
state law or regulation.

      6.4. That the Bank qualifies for an exemption from the registration
requirements of the Securities Act of 1933 and has made all appropriate filings
with and received approvals from, state and federal banking regulatory
authorities with respect to Warrants and the Common Stock issuable thereunder.

      7. EXCHANGE, ASSIGNMENT OR LOSS OF WARRANT CERTIFICATE.
         ---------------------------------------------------

      7.1. Exchange. The Warrants shall be exchangeable at the option of the
           --------
Holder, upon presentation and surrender of the Warrant Certificate at the office
of the Warrant Agent for other Warrant Certificates of different denominations.
Any Warrant Certificate may be divided or combined with other Warrant
Certificates into a Warrant Certificate evidencing the same aggregate number of
Warrants.

      7.2. Transfer or Assignment. The Warrants and all rights of Holders
           ----------------------
thereof are assignable and transferable in whole or in part by the Holders
thereof, in person or by duly authorized attorney, by surrender of any Warrant
Certificate to either the Warrant Agent at its office or the Bank at its office,
with the Assignment Form annexed thereto completed and duly executed or another
proper instrument of transfer satisfactory to the Warrant Agent and the Bank in
their sole discretion and funds sufficient to pay any applicable transfer tax.
In such event the Warrant agent shall execute and deliver, in the case of an
assignment or transfer in whole, a new Warrant Certificate in the name of the
assignee or transferee, or, in the case of an assignment or transfer in part, a
new Warrant Certificate in the name of such assignee or transferee representing
the number of Warrants so assigned or transferred and a new Warrant Certificate
in the name of the assignor or transferor representing the number of Warrants
not so assigned or transferred.

      7.3. Lost or Destroyed Warrant Certificates. Upon receipt by the Warrant
           --------------------------------------
Agent of evidence satisfactory to it of the loss, theft, destruction or
mutilation of a Warrant Certificate, and (i) in the case of such loss, theft or
destruction, of reasonably satisfactory indemnification and bonding, or (ii) if
mutilated, upon surrender and cancellation of such Warrant Certificate, the
Warrant Agent shall execute and deliver a new Warrant Certificate of like tenor.
Any such new Warrant Certificate executed and delivered shall constitute an
additional contractual obligation on the part of the Bank, whether or not the
Warrant Certificate so lost, stolen, destroyed or mutilated shall be at any time
enforceable by anyone.

                                       6
<PAGE>

      8. NO ISSUANCE OF FRACTIONAL INTERESTS IN COMMON STOCK. The Bank shall not
         ---------------------------------------------------
be required to issue fractional shares of Common Stock on the exercise of any
Warrant. If any fraction of a share of Common Stock would be issuable upon the
exercise of any Warrant (or any specified portion thereof), the Bank shall pay
an amount in cash equal to the product of (a) such fraction and (b) the fair
market value of the Common Stock, as determined in good faith by the Board of
Directors of the Bank, on the Business Day prior to the date the Warrant is
exercised.

      9. NO RIGHTS AS STOCKHOLDERS; CERTAIN NOTICES AND REPORTS TO HOLDERS.
         -----------------------------------------------------------------
Except as specifically provided in this Agreement, nothing contained in this
Agreement or in the Warrant Certificates shall be construed as conferring upon
the Holders or any transferees the right to vote or to receive dividends or to
receive notice as stockholders in respect of any meeting of stockholders for the
election of directors of the Bank or any other matter, or any rights whatsoever
as stockholders of the Bank. If, however, between the date hereof and the
Expiration Date (or if earlier the occurrence of any event specified in Section
5.2 or 5.3(b) terminating the Warrants), any of the following events shall
occur:

      (a) the Bank shall declare any cash dividend upon its shares of Common
Stock payable at a rate more than 50% in excess of the rate of the last cash
dividend theretofore paid; or

      (b) the Bank shall declare any dividend payable in any securities upon its
shares of Common Stock or make any distribution (other than a regular cash
dividend out of undistributed net income) to the holders of its shares of Common
Stock; or

      (c) the Bank shall distribute any rights, options or warrants to the
holders of shares of Common Stock; or

      (d) a capital reorganization or reclassification of the Bank's capital
stock shall be proposed;

      then in any one or more of said events, the Bank shall give to the Holders
at least 20 days prior written notice of the date fixed as a record date or the
date of closing the transfer books for the determination of the stockholders
entitled to receive such dividend or distribution. Any such notice shall also
specify, in the case of any such dividend or distribution, the date on which
holders of shares of Common Stock are entitled thereto. Failure to mail such
notice or any defect therein or in the mailing thereof shall not affect the
validity of any action taken in connection with such dividend or distribution.

      9.1. Reports. The Bank shall transmit by mail to all registered Holders,
           -------
all reports and other documents that the Bank transmits to holders of shares of
Common Stock generally, at the same time and in the same manner as such reports
and other documents are transmitted to holders of shares of Common Stock.

                                       7
<PAGE>

      10. OWNERSHIP OF WARRANT. The Bank may deem and treat the person in whose
          --------------------
name the Warrant Certificate is registered as the holder and owner thereof
(notwithstanding any notations of ownership thereon made by anyone other than
the Bank) for all purposes and shall not be affected by any notice or knowledge
to the contrary, until presentation of the Warrant Certificate for registration
of transfer.

      11. DUTIES OF WARRANT AGENT. The Warrant Agent acts hereunder as agent and
          -----------------------
in a ministerial capacity for the Bank, and its duties shall be determined
solely by the provisions hereof. The Warrant Agent shall not, by issuing and
delivering Warrant Certificates or by any other act hereunder be deemed to make
any representations as to the validity, value or authorization of the Warrant
Certificates or the Warrants represented thereby or of any securities or other
property delivered upon exercise of any Warrant or whether any stock issued upon
exercise of any Warrant is fully paid and nonassessable.

      The Warrant Agent shall not at any time be under any duty or
responsibility to any Holder of Warrant Certificates to make or cause to be made
any adjustment of the Warrant Price provided in this Agreement, or to determine
whether any fact exists which may require any such adjustments, or with respect
to the nature or extent of any such adjustment, when made, or with respect to
the method employed in making the same. It shall not (i) be liable for any
recital or statement of facts contained herein or for any action taken, suffered
or omitted by it in reliance on any Warrant Certificate or other document or
instrument believed by it in good faith to be genuine and to have been signed or
presented by the proper party or parties, (ii) be responsible for any failure on
the part of the Bank to comply with any of its covenants and obligations
contained in this Agreement or in any Warrant Certificate, or (iii) be liable
for any act or omission in connection with this Agreement except for its own
gross negligence or willful misconduct.

      The Warrant Agent may at any time consult with counsel satisfactory to it
(who may be counsel for the Bank) and shall incur no liability or responsibility
for any action taken, suffered or omitted by it in good faith in accordance with
the opinion or advice of such counsel.

      Any notice, statement, instruction, request, direction, order or demand of
the Bank shall be sufficiently evidenced by an instrument signed by the
Chairman, the President, any Vice President, its Secretary, or Assistant
Secretary, (unless other evidence in respect thereof is herein specifically
prescribed). The Warrant Agent shall not be liable for any action taken,
suffered or omitted by it in accordance with such notice, statement,
instruction, request, direction, order or demand believed by it to be genuine.

      The Bank agrees to pay the Warrant Agent reasonable compensation for its
services hereunder and to reimburse it for its reasonable expenses and further
agrees to indemnify the Warrant Agent and save it harmless against any and all
losses, expenses and liabilities, including judgments, costs and counsel fees,
for anything done or omitted by the Warrant Agent in the execution of its duties
and powers hereunder except losses, expenses and liabilities arising as a result
of the Warrant Agent's gross negligence or willful misconduct.

      The Warrant Agent may resign its duties and be discharged from all further
duties and liabilities hereunder (except liabilities arising as a result of the
Warrant Agent's own gross

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<PAGE>

negligence or willful misconduct), after giving 30 days' prior written notice to
the Bank. At least 15 days prior to the date such resignation is to become
effective, the Warrant Agent shall cause a copy of such notice of resignation to
be mailed to the Holder of each Warrant Certificate at the Bank's expense. Upon
such resignation, or any inability of the Warrant Agent to act as such
hereunder, the Bank shall appoint a new warrant agent in writing. The Bank shall
have complete discretion in the naming of a new warrant agent, who may be an
affiliate, subsidiary or department of the Bank, or any person used by the Bank
as transfer agent for the Common Stock. If the Bank shall fail to make such
appointment within a period of 15 days after it has been notified in writing of
such resignation by the resigning Warrant Agent, then the Holder of any Warrant
Certificate may apply to any court of competent jurisdiction for the appointment
of a new warrant agent.

      The Bank may, upon notice to the Holders, remove and replace the Warrant
Agent if the Warrant Agent is the transfer agent for the Bank's Common Stock and
the Warrant Agent ceases to be the transfer agent for the Bank Common Stock for
any reason.

      After acceptance in writing of an appointment by a new warrant agent is
received by the Bank, such new warrant agent shall be vested with the same
powers, rights, duties and responsibilities as if it had been originally named
herein as the warrant agent, without any further assurance, conveyance, act or
deed. Any former Warrant Agent hereby agrees to cooperate with and deliver all
records and Warrant Certificates to the new warrant agent at the direction of
the new agent and the Bank.

      Not later than the effective date of an appointment of a new warrant agent
by the Bank, the Bank shall file notice with the resigning or terminated Warrant
Agent and shall forthwith cause a copy of such notice to be mailed to each
Holder.

      Any corporation into which the Warrant Agent or any new warrant agent may
be converted or merged or any corporation resulting from any consolidation to
which the Warrant Agent or any new warrant agent shall be a party or any
corporation succeeding to the trust business of the Warrant Agent shall be a
successor warrant agent under this Agreement without any further act. Any such
successor warrant agent shall promptly cause notice of its succession as warrant
agent to be mailed to the Bank and to each Holder.

      Nothing herein shall preclude the Warrant Agent from acting in any other
capacity for the Bank.

      12. MODIFICATION OF AGREEMENT. The Warrant Agent and the Bank may by
          -------------------------
supplemental agreement make any changes or corrections in this Agreement: (i)
that they shall deem appropriate to cure any ambiguity or to correct any
defective or inconsistent provision or manifest mistake or error herein
contained; or (ii) that they may deem necessary or desirable and which shall not
adversely affect the purchase or other material rights of the Holders of Warrant
Certificates. This Agreement shall not otherwise be modified, supplemented or
amended in any respect except with the consent in writing of the Holders of
Warrant Certificates representing not less than 50% of the Warrants then
outstanding, but no such amendment, modification or supplement which changes the
number or nature of the securities purchasable upon the exercise of any Warrant,
the Warrant Price or accelerates the Expiration Date, shall be

                                       9
<PAGE>

made without the consent in writing of each and every Holder (but no consent
shall be required for such changes as are specifically prescribed by this
Agreement as originally executed, including, without limitation, Section
5.3(b)).

      13. MISCELLANEOUS.
          -------------

      13.1. Entire Agreement. This Agreement and the form of Warrant Certificate
            ----------------
annexed hereto as Exhibit A contains the entire Agreement between the parties
hereto with respect to the transactions contemplated by this Agreement and
supersedes all prior negotiations, arrangements or understandings with respect
thereto.

      13.2. Counterparts. This Agreement may be executed in one or more
            ------------
counterparts, all of which shall be considered one and the same agreement and
each of which shall be deemed an original.

      13.3. Governing Law. This Agreement shall be governed by the laws of the
            -------------
State of New Jersey, without giving effect to the principles of conflicts of
laws thereof.

      13.4. Descriptive Headings. The descriptive headings of this Agreement are
            --------------------
for convenience only and shall not control or affect the meaning or construction
of any provision of this Agreement.

      13.5. Notices. Any notice or other communications required hereunder to be
            -------
given to a Holder shall be in writing and shall be sufficiently given, if mailed
(first class, postage prepaid), or personally delivered, addressed in the name
and at the address of such Holder appearing from time to time on the records of
the Warrant Agent. Notices or other communications to the Bank shall be deemed
to have been sufficiently given if delivered by hand or mailed to the Bank at
its then principal office, Attention: President, or at such other address as the
Bank shall have designated by written notice to the Warrant Agent. Notices or
other communications to the Warrant Agent shall be deemed to have been
sufficiently given if delivered by hand or mailed (first class, postage prepaid)
to its then principal office. Notice by mail shall be deemed given when
deposited in the mail, postage prepaid.

                                       10
<PAGE>

      IN WITNESS WHEREOF, the Bank and the Warrant Agent have executed this
Agreement by their duly authorized officers as of the date first set forth
above.

                                TWO RIVER COMMUNITY  BANK

                                By:      /s/ Barry B. Davall
                                    --------------------------------------------

                                REGISTRAR AND TRANSFER COMPANY, as warrant agent

                                By:      /s/ William P. Tatler
                                    --------------------------------------------
                                         William P. Tatler
                                         Vice President

                                       11
<PAGE>

                                                                       Exhibit A
                                                                       ---------

                               Warrant Certificate

Certificate Number

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

Initial Issuance

Dated:                                                                  Warrants
       ---------------                                   ---------------

                            VOID AFTER June 30, 2006
             May Be Exercised Between May 1, 2006 and June 30, 2006

                             WARRANT CERTIFICATE FOR
                            PURCHASE OF COMMON STOCK

                            TWO RIVER COMMUNITY BANK
                              1250 STATE HIGHWAY 35
                          MIDDLETOWN, NEW JERSEY 07748

      This certifies that FOR VALUE RECEIVED ____________________________, or
his assigns (the "Holder") is the owner of _____________________ Warrants
("Warrants") issued by Two River Community Bank, a New Jersey state chartered
bank (the "Bank"). The Warrants are subject to the terms and conditions set
forth in this certificate and the Warrant Agreement (as hereinafter defined).
Each Warrant entitles the Holder to purchase one share of common stock, $2.00
par value ("Common Stock"), of the Bank, at any time from May 1, 2006 until the
Expiration Date (as hereinafter defined), upon the presentation and surrender of
this Warrant Certificate with the Exercise Form on the reverse side hereof duly
executed, at the corporate office of the Warrant Agent (as hereafter defined),
accompanied by payment of $20.50 (the "Warrant Price") per Warrant, in cash, by
official bank or certified check made payable to the Bank or its successor.

      This Warrant Certificate and each Warrant represented hereby are issued
pursuant to and are subject in all respects to the terms and conditions set
forth in the Warrant Agreement (the "Warrant Agreement"), dated June _____, 2004
by and between the Bank and Registrar and Transfer Company (the "Warrant
Agent"), a copy of which may be obtained from the Bank by a written request from
the Holder hereof or which may be inspected by any Holder or his agent at the
principal office of the Bank.

      As provided in Section 5 of the Warrant Agreement, in certain
circumstances: (i) the Warrant Price and the number of shares of Common Stock
the Holder is entitled to receive upon the exercise of any Warrants shall be
adjusted; (ii) the Warrants shall automatically

<PAGE>

represent the right to receive upon exercise consideration which is different
from or in addition to the consideration specified on the face of this
Certificate; and (iii) the Warrants, at the option of the Bank under
specifically defined circumstances, may expire prior to the Expiration Date.

      No fractional shares of Common Stock will be issued upon exercise of the
Warrant. In the case of the exercise of less than all the Warrants represented
hereby, the Bank shall cancel this Warrant Certificate upon the surrender hereof
and shall execute and deliver a new Warrant Certificate or Warrant Certificates
of like tenor, which the Warrant Agent shall countersign, for the balance of
such Warrants.

      The term "Expiration Date" shall mean 5:00 P.M. (Eastern time) on June 30,
2006.

      The Warrant Certificate and the Warrants represented hereby shall not be
transferable, assigned, pledged or hypothecated except as provided for in
Section 7 of the Warrant Agreement. In the event the terms of this paragraph are
not complied with by the Holder, the Warrants shall immediately become null and
void.

      Prior to the exercise of any Warrant represented hereby, the Holder shall
not be entitled to any rights of a stockholder of the Bank, including, without
limitation, the right to vote or to receive dividends or other distributions,
and shall not be entitled to receive any notice of any proceedings of the Bank,
except as provided in the Warrant Agreement.

      The Bank and the Warrant Agent shall treat the Holder as the absolute
owner hereof and of each Warrant represented hereby for all purposes and shall
not be affected by any notice to the contrary.

      This Warrant Certificate shall be governed by and construed in accordance
with the laws of the State of New Jersey.

      This Warrant Certificate is not valid unless countersigned by the Warrant
Agent.

                                       2
<PAGE>

      IN WITNESS WHEREOF, the Bank has caused this Warrant Certificate to be
duly executed, manually or in facsimile by two of its officers thereunto duly
authorized and a facsimile of its corporate seal to be imprinted thereon.

[SEAL]                                        TWO RIVER COMMUNITY BANK

Dated:                                         By:
       -----------------------------               -----------------------------

                                                     Chairman or President

                                               By:
                                                   -----------------------------

                                                     Secretary or Treasurer

REGISTRAR AND TRANSFER COMPANY,

as Warrant Agent

By:
    --------------------------------

                                       3
<PAGE>

EXERCISE FORM

      Dated:
             -------------

      The undersigned hereby irrevocably elects to exercise the within Warrant
to the extent of purchasing ____________ shares of Common Stock and hereby makes
payment of _________________ in payment of the Warrant Price thereof.

-----------------------------------------------------
Signature of Warrant Holder

INSTRUCTIONS FOR REGISTRATION OF STOCK

Name
     ------------------------------------------------
       (please typewrite or print in block letters)

Address
        ---------------------------------------------

Signature
         --------------------------------------------

Tax Identification Number
                          ---------------------------

                                       4
<PAGE>

                                 ASSIGNMENT FORM

FOR VALUE RECEIVED,                     hereby sells, assigns and transfers unto
                    -------------------

Name
     ------------------------------------------------
       (please typewrite or print in block letters)

Address
        ---------------------------------------------

______Warrants and does hereby irrevocably constitute and appoint
______________________ Attorney, to transfer the same on the books of the Bank
with full power of substitution in the premises.

Date _____________, ______

                                            Signature
                                                      --------------------------

INSTRUCTIONS FOR REGISTRATION OF STOCK

Name of transferee
                    -----------------------------------------------
                      (please typewrite or print in block letters)

Address
        -----------------------------------------------------------

Signature
         ----------------------------------------------------------

Tax Identification Number
                          -----------------------------------------

                                       5Exhibit 10.3

                           CHANGE IN CONTROL AGREEMENT

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

      THIS CHANGE IN CONTROL  AGREEMENT (this  "Agreement") is made this ___ day
of __________,  200_,  between Two River Community Bank (the "Bank"),  a banking
corporation  organized under the laws of New Jersey with its principal office at
1250 Highway 35 South,  Middletown,  New Jersey 07748 and _________________ (the
"Executive"), residing at _____________________________________________.

                                   BACKGROUND

      WHEREAS, the Executive is employed by the Bank;

      WHEREAS,  the Executive has worked  diligently in his position in pursuing
the business objectives of the Bank;

      WHEREAS,  The Board of  Directors  of the Bank  believes  that the  future
services  of the  Executive  are of  great  value  to the  Bank,  and that it is
important for the growth and development of the Bank that the Executive continue
in his position;

      WHEREAS,  if the Bank receives any proposal from a third person concerning
a possible business  combination with, or acquisition of equities  securities to
the  Bank,  the Board of  Directors  of the Bank (the  "Board")  believes  it is
imperative  that the Bank and the  Board be able to rely upon the  Executive  to
continue  in his  position,  and that they be able to receive  and rely upon his
advice,  if they  request  it,  as to the  best  interests  of the  Bank and its
shareholders,  without  concern that the  Executive  might be  distracted by the
personal uncertainties and any risks created by such a proposal;

      WHEREAS,  to achieve  that goal,  and to retain the  Executive's  services
prior to any such  activity,  the Board and the  Executive  have agreed to enter
into this Agreement to govern the Executive's  termination benefits in the event
of a Change in Control of the Bank, as hereinafter defined.

      NOW  THEREFORE,  to  assure  the  Bank  that it will  have  the  continued
dedication  of the  Executive  and the  availability  of his advice and  counsel
notwithstanding  the  possibility,  threat or  occurrence  of a bid to take over
control of the Bank,  and to induce the Executive to remain in the employ of the
Bank, and for other good and valuable consideration, the Bank and the Executive,
each intending to be legally bound hereby agree as follows:

      1.    Definitions.
            -----------

            a.    Cause. For purposes of this Agreement,  "Cause",  with respect
                  -----
                  to the termination by the Bank of the  Executive's  employment
                  shall  mean  (i) the  willful  and  continued  failure  by the
                  Executive  to  perform  his  duties  for the Bank  under  this
                  Agreement after at least one warning in writing from the Board
                  identifying   specifically  any  such  failure;  (ii)  willful
                  misconduct of any type by the  Executive,  including,  but not
                  limited to, the  disclosure  or improper  use of  confidential
                  information  under Section 11 of this

<PAGE>

                  Agreement,  which  causes  material  injury  to the  Bank,  as
                  specified in a written notice to the Executive from the Board;
                  or (iii) the  Executive's  conviction of a crime (other than a
                  traffic  violation),  habitual  drunkenness,  drug  abuse,  or
                  excessive  absenteeism  (other  than  for  illness),  after  a
                  warning (with respect to drunkenness  or absenteeism  only) in
                  writing from the Board to refrain from such  behavior.  No act
                  or  failure  to act on the  part  of the  Executive  shall  be
                  considered  willful unless done, or omitted to be done, by the
                  Executive not in good faith and without reasonable belief that
                  the action or omission was in the best interest of the Bank.

            b.    Change  in  Control.   "Change  in  Control"  shall  mean  the
                  -------------------
                  occurrence of any of the following events:

                  i.    The Bank acquires actual  knowledge that any person,  as
                        such term is used in  Sections  13 (d) and 14 (d) (2) of
                        the  Securities  and Exchange Act of 1934 (the "Exchange
                        Act"),  other  than  an  affiliate  of  the  Bank  or an
                        employee  benefit plan  established or maintained by the
                        Bank  or  any  of  its  affiliates,  is or  becomes  the
                        beneficial  owner  (as  defined  in  Rule  13d-3  of the
                        Exchange Act) directly or  indirectly,  of securities of
                        the Bank  representing  more  than  twenty-five  percent
                        (25%) of the  combined  voting  power of the Bank's then
                        outstanding  securities (a "Control  Person");  provided
                        that no person shall be considered a Control  Person for
                        purposes of this  paragraph (1) if such person  acquires
                        in excess of  twenty-five  percent (25%) of the combined
                        voting  power  of the  Bank's  then  outstanding  voting
                        securities  in violation of law and, by order of a court
                        of  competent  jurisdiction,  settlement  or  otherwise,
                        subsequently  disposes  or is required to dispose of all
                        Bank securities acquired in violation of law.

                  ii.   Upon the  first  purchase  of the  Bank's  common  stock
                        pursuant  to a tender or  exchange  offer  (other than a
                        tender or exchange offer made by the Bank or an employee
                        benefit plan  established  or  maintained by the Bank or
                        any of its affiliates).

                  iii.  Upon the  approval by the Bank's  shareholders  of (A) a
                        merger,  combination,  or consolidation of the Bank with
                        or  into  another   entity   (other  than  a  merger  or
                        consolidation   the   definitive   agreement  for  which
                        provides  that at least  two-thirds  of the directors of
                        the surviving or resulting entity  immediately after the
                        transaction  arc  Continuing  Directors (as  hereinafter
                        defined) (a  "Non-Control  Transaction"),  (B) a sale or
                        disposition  of all or  substantially  all of the Bank's
                        assets or (C) a plan of  liquidation  or  dissolution of
                        the Bank.

                  iv.   If  during  any  period  of two (2)  consecutive  years,
                        individuals   who  at  the   beginning  of  such  period
                        constitute  the  board of  directors  of

                                      -2-
<PAGE>

                        the Bank  (the  "Continuing  Directors")  cease  for any
                        reason to  constitute  at  least two-thirds  thereof or,
                        following a Non-Control  Transaction,  two-thirds of the
                        board of directors of the surviving or resulting entity;
                        provided   that  any   individual   whose   election  or
                        nomination  for  election  as a member  of the  board of
                        directors  of the  Bank  (or,  following  a  Non-Control
                        Transaction,  the board of directors of the surviving or
                        resulting  entity)  was  approved  by a vote of at least
                        two-thirds of the  Continuing  Directors  then in office
                        shall be considered a Continuing Director.

                  v.    Upon a sale of (A)  common  stock  of the  Bank if after
                        such sale any person  (as such term is used in  Sections
                        13(d) and  14(d)(2) of the  Exchange  Act) other than an
                        employee  benefit plan  established or maintained by the
                        Bank or an affiliate of the Bank, owns a majority of the
                        Bank's common stock or (B) all or  substantially  all of
                        the Bank's assets (other than in the ordinary  course of
                        business).

            c.    Contract  Period.  "Contract  Period"  shall  mean the  period
                  ----------------
                  commencing the day  immediately  preceding a Change in Control
                  and ending on the earlier of (i) the third  anniversary of the
                  Change in Control or (ii) the date the Executive  would attain
                  age 65 or (iii) the death of the Executive.

            d.    Good  Reason.   When  used  with   reference  to  a  voluntary
                  ------------
                  termination by the Executive of his employment  with the Bank,
                  "Good  Reason"  shall  mean  any of the  following,  if  taken
                  without the Executive's express written consent:

                  i.    The   assignment   to  the   Executive   of  any  duties
                        inconsistent   with,  or  the  reduction  of  powers  or
                        functions  associated  with, the  Executive's  position,
                        title, duties, responsibilities and status with the Bank
                        immediately prior to a Change in Control; or any removal
                        of the  Executive  from,  or any failure to re-elect the
                        Executive to, any position(s) or office(s) the Executive
                        held  immediately  prior to such  Change in  Control.  A
                        change in position, title, duties,  responsibilities and
                        status or position(s) or office(s) resulting merely from
                        a  merger  of the  Batik  into or with  another  bank or
                        company  shall  not  meet  the   requirements   of  this
                        paragraph if, and only if, the Executive's new title and
                        responsibilities   are   accepted   in  writing  by  the
                        Executive, in the sole discretion of the Executive.

                  ii.   A reduction by the Bank in the  Executive's  annual base
                        compensation as in effect  immediately prior to a Change
                        in Control or the failure to award the Executive  annual
                        increases in accordance herewith.

                  iii.  A failure  by the Bank to  continue  any  bonus  plan in
                        which the Executive  participated  immediately  prior to
                        the  Change  in  Control

                                      -3-
<PAGE>

                        or a failure by the Bank to continue the  Executive as a
                        participant  in such plan on at least the same  basis as
                        the  Executive  participate  in such  plan  prior to the
                        Change in Control.

                  iv.   The  Bank's   transfer  of  the   Executive  to  another
                        geographic  location  outside of New Jersey or more than
                        25 miles from his present  office  location,  except for
                        required  travel  on the  Bank's  business  to an extent
                        substantially  consistent with the Executive's  business
                        travel  obligations  immediately prior to such Change in
                        Control.

                  v.    The  failure  by the  Bank to  continue  in  effect  any
                        employee   benefit   plan,    program   or   arrangement
                        (including,  without  limitation any 401(k) plan,  stock
                        option plan,  life insurance  plan,  health and accident
                        plan,  or  disability  plan) in which the  Executive  is
                        participating  immediately  prior to a Change in Control
                        (except that the Bank may  institute or continue  plans,
                        programs or  arrangements  providing the Executive  with
                        substantially  similar  benefits);  the  taking  of  any
                        action by the Bank  which  would  adversely  affect  the
                        Executive's  participation  in or materially  reduce the
                        Executive's  benefits under any of such plans,  programs
                        or arrangements;  the failure to continue, or the taking
                        of any action which would  deprive the  Executive of any
                        material   fringe  benefit   enjoyed  by  the  Executive
                        immediately  prior to such  Change  in  Control;  or the
                        failure by the Bank to provide  the  Executive  with the
                        number of paid  vacation days to which the Executive was
                        entitled immediately prior to such Change in Control.

                  vi.   The  failure  by  the  Bank  to  obtain  an  enforceable
                        assumption  in writing  by (i) any  entity  which is the
                        acquiring entity or successor to the Bank in a Change in
                        Control or, (ii) if the acquiring entity or successor to
                        the Bank is a bank,  the holding  company  parent of the
                        acquiring entity or successor, of this Agreement and the
                        obligations of the Bank to perform this  Agreement,  and
                        to provide such assumption to the Executive prior to any
                        Change in Control.

                  vii.  Any purported termination of the Executive's  employment
                        by the Bank during the term of this  Agreement  which is
                        not effected pursuant to all of the requirements of this
                        Agreement;  and, for purposes of this Agreement, no such
                        purported termination shall be effective.

      2.    Employment.  The Bank hereby agrees to employ the Executive, and the
            ----------
            Executive hereby accepts employment, during the Contract Period upon
            the terms and conditions set forth herein.

                                      -4-
<PAGE>

      3.    Position. During the Contract Period the Executive shall be employed
            --------
            as  the  ___________________________  of the  Bank,  or  such  other
            corporate or divisional profit center as shall then be the principal
            successor to the business,  assets and properties of the Bank,  with
            the same title and the same  duties and  responsibilities  as before
            the Change in Control.  The Executive shall devote his full time and
            attention  to the  business  of the Bank,  and shall not  during the
            Contract period be engaged in any other business activity.

            This  paragraph  shall not be construed as preventing  the Executive
            from  managing  any  investments  of his  which do not  require  any
            service on his part in the operation of such investments.

      4.    Cash Compensation.  The Bank shall pay to the Executive compensation
            -----------------
            for his services during the Contract Period as follows:

            a.    Base  Compensation.  The base  compensation  shall be equal to
                  ------------------
                  such annual compensation,  including both salary and bonus, as
                  was paid to or  accrued  for the  Executive  in the 12  months
                  immediately prior to the Change in Control.  The annual salary
                  portion of base compensation  shall be payable in installments
                  in accordance with the Bank's usual payroll method.  The bonus
                  shall be payable at the time and in the manner  which the Bank
                  paid such bonuses prior to the Change in Control. Any increase
                  in the Executive's annual  compensation  pursuant to paragraph
                  4(b) below, or otherwise,  shall automatically and permanently
                  increase the base compensation.

            b.    Annual  Increase.  During the Contract  Period the Board shall
                  ----------------
                  review annually, or at more frequent intervals which the Board
                  determines to be appropriate, the Executive's compensation and
                  shall award him additional  compensation to reflect the impact
                  of inflation, the Executive's performance,  the performance of
                  the  Bank  and  competitive   compensation   levels,   all  as
                  determined  in  the   discretion  of  the  Board.   Additional
                  compensation  may take any form  including  but not limited to
                  increases in annual salary,  incentive  bonuses and/or bonuses
                  not  tied to  performance.  However,  in no  event  shall  the
                  percentage  increase in annual  compensation  be less than the
                  annual  percentage  increase in the  Consumer  Price Index for
                  Urban Wage Earners and Clerical Workers (New York and Northern
                  New Jersey - All Items) during the preceding twelve months.

      5.    Expenses  and Fringe  Benefits.  During  the  Contract  Period,  the
            ------------------------------
            Executive  shall  be  entitled  to  reimbursement  for all  business
            expenses incurred by him with respect to the business of the Bank in
            the  same  manner  and to the  same  extent  as such  expenses  were
            previously  reimbursed  to him  immediately  prior to the  Change in
            Control.  If prior to the  Change  in  Control,  the  Executive  was
            entitled  to the use of an  automobile,  he shall be entitled to the
            same use of an  automobile  at least  comparable  to the  automobile
            provided  to him  prior to the  Change in  Control,  and he shall be
            entitled  to  vacations  and  sick  days,  in  accordance  with  the

                                      -5-
<PAGE>

            practices and  procedures  of the Bank, as such existed  immediately
            prior to the  Change in  Control.  During  the  Contract  Period the
            Executive  also shall be entitled to hospital,  health,  medical and
            life insurance,  and any other benefits enjoyed,  from time to time,
            by  executive  officers of the Bank,  all upon terms as favorable as
            those   enjoyed   by  other   executive   officers   of  the   Bank.
            Notwithstanding  anything in this  section to the  contrary,  if the
            Bank  adopts  any  change  in the  expenses  allowed  to,  or fringe
            benefits  provided  for,  executive  officers of the Bank,  and such
            policy is uniformly  applied to all executive  officers of the Bank,
            and any  successor or acquirer of the Bank,  if any,  including  the
            chief  executive  officer of such  entities,  then no such change in
            policy shall be deemed to be a violation of this provision.

      6.    Termination  for Cause.  The Bank shall have the right to  terminate
            ----------------------
            the  Executive  for  Cause,  upon  written  notice  to  him  of  the
            termination,   which  notice  shall  specify  the  reasons  for  the
            termination.  In the event of termination  for Cause,  the Executive
            shall not be entitled to any further benefits under this Agreement.

      7.    Disability.  During the Contract  Period,  if the Executive  becomes
            ----------
            permanently  disabled,  or is unable to perform his duties hereunder
            for six  consecutive  months in any  18-month  period,  the Bank may
            terminate  the  employment  of the  Executive.  In such  event,  the
            Executive  shall not be entitled to any further  benefits under this
            Agreement other than payments under any disability  policy which the
            Bank may obtain for the benefit of senior officers generally.

      8.    Death  Benefits.  Upon the  Executive's  death  during the  Contract
            ---------------
            Period,  the Executive shall be entitled to the benefits of any life
            insurance  policy  paid for the Bank,  but his  estate  shall not be
            entitled to any further benefits under this Agreement.

      9.    Termination  without Cause or Resignation for Good Reason.  The Bank
            ---------------------------------------------------------
            may terminate the Executive without Cause during the Contract Period
            by four  weeks'  prior  written  notice  to the  Executive,  and the
            Executive may resign for Good Reason during the Contract Period upon
            four weeks' prior  written  notice to the Bank  specifying  the Good
            Reason. If the Bank terminates the Executive's employment during the
            Contract  Period without Cause or if the Executive  resigns for Good
            Reason,  the Bank shall,  within  twenty (20)  business  days of the
            termination of employment, pay the Executive a lump sum equal to two
            (2) times the highest annual compensation, including only salary and
            cash bonus,  paid to the Executive  during any of the three calendar
            years  immediately  prior to the  Change in  Control  (the "Lump Sum
            Payment").  During the  remainder of the Contract  Period,  the Bank
            shall continue to provide the Executive with and pay for medical and
            hospital insurance, disability insurance and life insurance, as were
            provided  and  paid  for  in the  time  of  the  termination  of his
            employment  with the Bank;  provided that, if at any time during the
            remainder of the Contract Period,  the Executive becomes employed by
            another employer which provides one or more such insurance benefits,
            the Bank shall thereafter be relieved of its

                                      -6-
<PAGE>

            obligation  to provide  such  insurance  benefits to the extent such
            benefits are duplicative of what is provided to the Executive by the
            Executive's new employer.  The Bank shall also sell to the Executive
            for a purchase  price of $1.00 the  automobile,  if any, used by the
            Executive while employed by the Bank.

            The Executive shall not have a duty to mitigate the damages suffered
            by him in  connection  with  the  termination  by  the  Bank  of his
            employment without Cause or a resignation for Good Reason during the
            Contract Period. If the Bank fails to pay the Executive the Lump Sum
            Payment or to provide him with the benefits due under this  section,
            the  Executive,  after giving ten (10) days'  written  notice to the
            Bank  identifying the Bank's  failure,  shall be entitled to recover
            from the Bank all of his reasonable legal fees and expenses incurred
            in connection with his enforcement  against the Bank of the terms of
            this Agreement.  The Bank agrees to pay such legal fees and expenses
            to the Executive on demand. The Executive shall be denied payment of
            his legal fees and expenses only if a court finds that the Executive
            sought  payment  of such fees  without  reasonable  cause and in bad
            faith.

      10.   Resignation  without Good Reason. The Executive shall be entitled to
            --------------------------------
            resign  from  the  employment  of the Bank at any  time  during  the
            Contract Period without Good Reason, but upon such resignation,  the
            Executive shall not be entitled to any additional  compensation  for
            the time after which he ceases to be employed by the Bank, and shall
            not be entitled to any of the other benefits provided hereunder.  No
            such  resignation  shall be  effective  unless in writing  with four
            weeks' notice thereof.

      11.   Non-Disclosure of Confidential Information.
            ------------------------------------------

            a.    Non-Disclosure  of  Confidential  Information.  Except  in the
                  ---------------------------------------------
                  course of his  employment  with the Bank and in pursuit of the
                  business of the Bank or any of its subsidiaries or affiliates,
                  the  Executive  shall not, at any time during or following the
                  Contract   Period,   disclose  or  use  for  any  purpose  any
                  confidential  information or  proprietary  data of the Bank or
                  any of its  subsidiaries or affiliates.  The Executive  agrees
                  that,  among other  things,  all  information  concerning  the
                  identity of and the Bank's  relations  with its  customers  is
                  confidential information.

            b.    Specific Performance.  The Executive agrees that the Bank does
                  --------------------
                  not have an  adequate  remedy  at law for the  breach  of this
                  section  and agrees  that he shall be  subject  to  injunctive
                  relief  and  equitable  remedies  as a result of the breach of
                  this  section.  The  invalidity  or  unenforceability  of  any
                  provision  of this  Agreement  shall not  affect the force and
                  effect of the remaining valid portions.

            c.    Survival.  This section shall survive the  termination  of the
                  --------
                  Executive's  employment  hereunder and the  expiration of this
                  Agreement.

                                      -7-
<PAGE>

      12.   Term and Effect Prior to Change in Control.
            ------------------------------------------

            a.    Term.  Except  as  otherwise  provided  for  hereunder,   this
                  ----
                  Agreement  shall  commence on the date hereof and shall remain
                  in effect for a period of two (2) years  from the date  hereof
                  (the "Initial Term") or until the end of the Contract  Period,
                  whichever is later.  The Initial  Term shall be  automatically
                  extended  for  an  additional  one  (1)  year  period  on  the
                  anniversary  date hereof (so that the  Initial  Term is always
                  three years)  unless the Board of Directors of the Bank,  by a
                  majority  vote of the directors  then in office,  votes not to
                  extend the  Initial  Term.  The  Executive  shall be  promptly
                  notified of the passage of such a resolution.

            b.    No Effect  Prior to Change in Control.  This  Agreement  shall
                  -------------------------------------
                  not,  in any  respect,  affect  any  rights of the Bank or the
                  Executive  prior to a Change in  Control  or any rights of the
                  Executive   granted   in  any   other   agreement,   plan   or
                  arrangements.   The  rights,   duties  and  benefits  provided
                  hereunder  shall  only  become  effective  upon  a  Change  in
                  Control.  If the  employment  of the  Executive by the Bank is
                  terminated  for any reason prior to a Change in Control,  this
                  Agreement shall thereafter be of no further force and effect.

      13.   Certain Reduction of Payments by the Bank.
            -----------------------------------------

            a.    Anything in this  Agreement to the  contrary  notwithstanding,
                  prior to the payment of any  compensation or benefits  payable
                  under Section 9 hereof,  the certified  public  accountants of
                  the  Bank  immediately  prior  to a  Change  in  Control  (the
                  "Certified Public Accountants") shall determine as promptly as
                  practicable and in any event within 20 business days following
                  the  termination of employment of the  Executive,  whether any
                  payment or  distribution  by the Bank to or for the benefit of
                  the  Executive  (whether  paid or  payable or  distributed  or
                  distributable  pursuant  to the  terms  of this  Agreement  or
                  otherwise)  (a  "Payment")  would  more  likely  than  not  be
                  nondeductible  by the Bank for Federal income purposes because
                  of  Section  280G of the  Internal  Revenue  Code of 1986,  as
                  amended (the "Code"),  and if it is then the aggregate present
                  value  of  amounts  payable  or  distributable  to or for  the
                  benefit of the  Executive  pursuant  to this  Agreement  (such
                  payments  or  distributions  pursuant  to this  Agreement  are
                  hereinafter  referred  to as  "Agreement  Payments")  shall be
                  reduced  (but not  below  zero)  to the  reduced  Amount.  For
                  purposes of this paragraph,  the "Reduced  Amount" shall be an
                  amount   expressed  in  present  value  which   maximizes  the
                  aggregate present value of Agreement  Payments without causing
                  any Payment to be  nondeductible  by the Bank  because of said
                  Section 280G of the Code.

            b.    If under  paragraph (a) of this section the  Certified  Public
                  Accountants  determine that any Payment would more likely than
                  not be  nondeductible  by the Bank  because of Section 280G of
                  the Code, the Bank shall promptly

                                      -8-
<PAGE>

                  give the  Executive  notice to that  effect  and a copy of the
                  detailed  calculation  thereof and of the Reduced Amount,  and
                  the Executive may then elect,  in his sole  discretion,  which
                  and how much of the Agreement  Payments  shall be eliminate or
                  reduced (as long as after such election the aggregate  present
                  value of the Agreement  Payments  equals the Reduced  Amount),
                  and shall advise the Bank in writing of his election within 20
                  business days of his receipt of notice. If no such election is
                  made by the Executive within such 20-day period,  the Bank may
                  elect which and how much of the  Agreement  Payments  shall be
                  eliminated  or  reduced  (as long as after such  election  the
                  Aggregate  present Value of the Agreement  Payments equals the
                  Reduced  Amount) and shall  notify the  Executive  promptly of
                  such  election.  For purposes of this  paragraph,  the present
                  Value  shall  be  determined   in   accordance   with  Section
                  280G(d)(4)  of  the  Code.  All  determinations  made  by  the
                  Certified  Public  Accountants  shall be binding upon the Bank
                  and  the  Executive   shall  be  made  within  20  days  of  a
                  termination  of  employment  of the  Executive.  The  Bank may
                  suspend  for a period of up to 30 days  after  termination  of
                  employment  the Lump Sum  Payment  and any other  payments  or
                  benefits due to the Executive under Section 9 hereof until the
                  Certified Public  Accountants finish the determination and the
                  Executive  (or the  Bank,  as the  case may he)  elect  how to
                  reduce the Agreement  Payments,  if necessary.  As promptly as
                  practicable  following  such  determination  and the elections
                  hereunder,  the Bank shall pay to or  distribute to or for the
                  benefit of the  Executive  such amounts as are then due to the
                  Executive  under this  Agreement and shall  promptly pay to or
                  distribute for the benefit of the Executive in the future such
                  amounts as become due to the Executive under this Agreement.

            c.    As a result of the  uncertainty in the  application of Section
                  280G of the Code, it is possible that  Agreement  Payments may
                  be  made  by  the  Bank  which   should  not  have  been  made
                  ("Overpayment"),  or that additional  Agreement Payments which
                  will  have not been  made by the Bank  could  have  been  made
                  ("Underpayment"),   in  each   case,   consistent   with   the
                  calculation of the Reduced Amount hereunder. In the event that
                  the Certified Public Accountants,  based upon the assertion of
                  a deficiency by the Internal  Revenue Service against the Bank
                  or the  Executive  which  said  Certified  Public  Accountants
                  believe has a high  probability of success,  determine that an
                  Overpayment  has  been  made,  any such  Overpayment  shall be
                  treated  for all  purposes  as a loan to the  Executive  which
                  Executive  shall repay to the Bank  together  with interest at
                  the   applicable   Federal   rate   provided  for  in  Section
                  7872(f)(2)(A)  of the Code;  provided  that no amount shall be
                  payable by the Executive to the Bank in and to the extent such
                  payment  would not  reduce  the  amount  which is  subject  to
                  taxation under Section 4999 of the Code. In the event that the
                  Certified   Public   Accountants,   based   upon   controlling
                  precedent,  determine that an Underpayment  has occurred,  any
                  such  Underpayment  shall be  promptly  paid by the Bank to or
                  from the benefit of the  Executive  together  with

                                      -9-
<PAGE>

                  interest  at  the  applicable  Federal  rate  provided  for in
                  Section 7872(f)(2)(A) of the Code.

      14.   Severance  Compensation  and  Benefits  not in  Derogation  of Other
            --------------------------------------------------------------------
            Benefits. Anything to the contrary herein contained notwithstanding,
            --------
            the  payment or  obligation  to pay any  monies,  or granting of any
            benefits,  rights or privileges to the Executive as provided in this
            Agreement  shall  not be in lieu or  derogation  of the  rights  and
            privileges  that the  Executive now has or will have under any plans
            or programs  of the Bank,  except  that the  Executive  shall not be
            entitled  to the  benefits  of any other plan or program of the Bank
            expressly   providing  for  severance  or  termination  pay  if  the
            Executive  is  terminated  without  Cause or resigns for Good Reason
            after a Change in Control.

      15.   Miscellaneous.  This  Agreement  shall  be  the  joint  and  several
            -------------
            obligation  of the Bank and any  acquiring  entity which assumes the
            Bank's obligations under this Agreement. The terms of this Agreement
            shall be governed by, and  interpreted  and  construed in accordance
            with the  provisions  of, the laws of New Jersey  and, to the extent
            applicable,   Federal  law.  This  Agreement  supersedes  all  prior
            agreements and  understandings  with respect to the matters  covered
            hereby.  The amendment or  termination of this Agreement may be made
            only in a writing  executed  by the Bank and the  Executive,  and no
            amendment or termination of this Agreement shall be effective unless
            and until made in such a writing.  This  Agreement  shall be binding
            upon any successor (whether direct or indirect, by purchase,  merge,
            consolidation, liquidation or otherwise) to all or substantially all
            of the  assets  of the  Bank.  This  Agreement  is  personal  to the
            Executive,  and the  Executive  may not  assign any of his rights or
            duties  hereunder,  but this  Agreement  shall be enforceable by the
            Executive's legal representatives, executors or administrators. This
            Agreement may be executed in two or more counterparts, each of which
            shall be deemed an original, and it shall not be necessary in making
            proof of this Agreement to produce or account for more than one such
            counterpart.  The  Bank  shall,  as part of any  Change  in  Control
            involving  an acquiring  entity or successor to the Bank,  obtain an
            enforceable  assumption  in writing  by (i) the entity  which is the
            acquiring  entity or  successor to the Bank in the Change in Control
            and,  (ii) if the  acquiring  entity or  successor  to the Bank is a
            bank,  the  holding  company  parent  of  the  acquiring  entity  or
            successor,  of this Agreement and the  obligations of the Bunk under
            this  Agreement,  and shall provide a copy of such assumption to the
            Executive prior to any Change in Control.

                                      -10-
<PAGE>

      IN WITNESS  WHEREOF,  the Bank has caused this  Agreement  to be signed by
their duly authorized  representative  pursuant to the authority of the Board or
Directors,  and the Executive has personally executed this Agreement,  all as of
the day and year first written above.

WITNESS:

-----------------------------------       --------------------------------------
                                                               , individually
                                          --------------------

ATTEST:                                   TWO RIVER COMMUNITY BANK

                                          By:
-----------------------------------          -----------------------------------

                                      -11-

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