Mr.  Daly's  Employment  is the  same as the  Employment  Agreement  in
Exhibit 10.3,  which is incorporated  herein by reference  except as to: (i) the
name of the Executive, which is Michael P. Daly; (ii) the position in Section 1,
which is Executive Vice President - Senior Loan Officer; and (iii) the amount of
the base salary in Section 3(a), which is $139,250.