YARDVILLE NATIONAL BANK
                 SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN ("SERP")
                     SUMMARY OF TERMS FOR STEPHEN F. CARMAN

         Eligibility.
         ------------

The Board has established your eligibility to participate in the SERP. Your
Eligibility Date of 10/28/94 will be carried forward from the prior survivor
income plan between you and the Bank.

         Accrued Benefit.
         ---------------

Your accrued benefit under the SERP will be equal to a Target Benefit (40% of
Final Average Earnings) multiplied by a fraction: "Years of Participation" over
the full number of years beginning on your Eligibility Date and ending on your
Normal Retirement Date.

Years of Participation means the number of full years measured from your
Eligibility Date.

Final Average Earnings is the average of the high three years' compensation out
of the last five years of employment. Compensation taken into account includes
salary, bonus and pre-tax deferrals under other benefit arrangements, but
excludes payments received under equity compensation arrangements, any cost of
living differential and automobile allowances.

Normal Retirement Age is age 60. Based on your date of birth of October 12,
1956, your Normal Retirement Date will be November 1, 2016.

         Vesting.
         -------

The Vested Amount will be determined by using a vesting percentage which is the
same percentage as is used to determine the Accrued Benefit. However, special
rules apply in the case of death, Disability and termination following a Change
in Control.

For example, assume you terminate employment voluntarily with the Bank in
December, 2014 at age 58. Your Vested Amount is a fraction equal to the full
number of years of participation in the SERP (20) over the full number of years
from your Eligibility Date to your Normal Retirement Date (22). Thus, you are
about 91% vested in whatever pension you have earned to that point.

Complete vesting (in the accrued benefit you have earned to date) occurs upon:

         o        retirement after your Normal Retirement Date

         o        termination of employment by the Bank within three years
                  following a Change in Control (after three years, the regular
                  rules apply, and you will earn vesting credit over your years
                  of service until normal retirement)

         o        voluntary termination of employment by you within six months
                  following a Change in Control, under limited circumstances


In addition, you will qualify for benefits if your employment terminates due to
death or disability. Disability means a condition that qualifies you for receipt
of disability income payments under the Bank's long-term disability plan.

Your benefits under the Plan will be forfeited if you are terminated for cause
at any time.

"Change in Control" means an acquisition directly or indirectly by any person or
entity of the ownership of or power to vote 40% or more of the outstanding
voting securities of the Bank.

"Cause" means a significant deficiency in performance, disloyalty, fraud,
violation of federal or state law involving commission of a crime against the
Bank and the commission of a felony or gross misdemeanor against others.

         Distributions
         -------------

Distributions will generally be paid in 180 monthly installments beginning on
the first day of the month following the later of termination of employment or
your Normal Retirement Age. Distributions that would be payable in monthly
amounts less than $100 will be automatically commuted to an actuarially
equivalent lump-sum. You may request payment in a lump-sum rather than in
monthly installments.

Distributions will be accelerated upon death, Disability or certain
circumstances following a Change in Control as described above. In those
instances, payments will begin on the first day of the month following the
triggering event.

Distributions upon death are payable to your designated Beneficiary. If no
effective designation has been made, payments will be made to the your estate.

In the event of Disability, a pension is payable to you in an amount equal to
100% of your Final Average Earnings as of the first day of the 7th month
following the onset of your Disability. Any Disability payments you receive
under the SERP will be reduced by Social Security disability benefits and by any
amounts received by you under the Bank's long-term disability plan. Your
disability pension ends at the same time as your Bank-provided disability
insurance. After that, the usual rules of the SERP apply, and you will qualify
for a SERP benefit based on your years of service at termination of employment.

         Administration
         --------------

The Plan is administered by a committee appointed by the Board (the
"Committee"). The Committee has the discretion to take remedial action, resolve
discrepancies and establish rules, forms and procedures for the administration
of the Plan. The Plan also contains a detailed Claims procedure.

This is a summary of the Supplemental Executive Retirement Plan and how it
applies to you. In the case of any discrepancy, the terms of the formal SERP
document, as interpreted by the administrative committee appointed by the Board,
control