AMENDMENT TO DIRECTOR SUPPLEMENTAL RETIREMENT INCOME AGREEMENT

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GREATER COMMUNITY BANCORP | Valley National Bancorp

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Title: AMENDMENT TO DIRECTOR SUPPLEMENTAL RETIREMENT INCOME AGREEMENT
Date: 6/25/2008
Industry: Regional Banks Sector: Financial

Exhibit 10.5

AMENDMENT TO DIRECTOR SUPPLEMENTAL RETIREMENT INCOME AGREEMENT

This Amendment is made as of June 25, 2008 between Robert Soldoveri (“Director”) and Greater Community Bank (“Bank”), a state chartered commercial bank having its principal place of business in New Jersey.

RECITALS

WHEREAS, the Bank has adopted a Director Supplemental Retirement Income Agreement (“Agreement”) to pay additional compensation to the Director after retirement or other termination of employment; and

WHEREAS, the Agreement was effective March 1, 2004; and

WHEREAS, Greater Community Bancorp (“GCB”) is a party to the Agreement for the sole purpose of guaranteeing the Bank’s performance; and

WHEREAS, the Director, Bank, and GCB desire to amend the Agreement to comply with Internal Revenue Code Section 409A and the applicable federal regulations thereto; and

WHEREAS, GCB has

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