EXECUTIVE EMPLOYMENT AGREEMENT

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      THIS EMPLOYMENT AGREEMENT (the "Agreement") is between Bank Rhode

Island, a financial institution organized under the laws of the State of

Rhode Island with its executive offices located at One Turks Head Place,

Providence, Rhode Island 02903 (the "Bank"), Bancorp Rhode Island, Inc., a

corporation organized under the laws of the State of Rhode Island (the

"Company"), and Donald C. McQueen of 3 Shady Lane, Barrington, Rhode Island

02806 (the "Executive").



      IT IS MUTUALLY AGREED by the parties as follows:



            1.    Employment; Duties



            1.1   Responsibilities and Authority.  (a)  The Bank hereby

      employs Executive to serve as Executive Vice President and Chief

      Lending Officer of the Bank, and Executive hereby accepts such

      employment.  Executive shall have the duties, responsibilities,

      authorities and powers normally incident to such office.  At all

      times, however, Executive's activities and authority with respect to

      such offices will be subject to supervision, control and direction by

      the Board of Directors of the Bank (the "Board"), by the Executive

      Committee of the Board, and by the President and Chief Executive

      Officer of the Bank (the "Chief Executive Officer") and Executive

      agrees to carry out such duties and responsibilities as any of them

      may from time to time reasonably assign to him.  Executive shall

      report from time to time or routinely, upon request, to the Chief

      Executive Officer or her designee as to the current status of any of

      Executive's assigned duties and responsibilities.



                  (b)   The Company hereby employs Executive to serve as

            Vice President of the Company and such other offices and

            positions as the Company may determine, and Executive hereby

            accepts such employment.  Executive shall have the duties,

            responsibilities, authorities and powers normally incident to

            such offices.  At all times, however, Executive's activities

            and authority with respect to such offices will be subject to

            supervision, control and direction by the Board of Directors of

            the Company (the "Company Board") or by the Executive Committee

            of the Company Board, and Executive hereby agrees to carry out

            such duties and responsibilities as either of them may from

            time to time reasonably assign to Executive.  Executive shall

            report from time to time or routinely, upon request, to the

            Company Board as to the current status of any of Executive's

            assigned duties and responsibilities.



            1.2   Compensation.  The Bank shall pay Executive a base salary

      at the rate of (i) One Hundred Thirty-Four Thousand Three Hundred

      Dollars ($134,300) per year, commencing on the date hereof and

      continuing through December 31, 2000, and (ii) One Hundred Forty-Two

      Thousand Three Hundred Dollars ($142,300) per year, commencing on

      January 1, 2001 and thereafter, payable on a bi-weekly basis, or at

      such higher rate as shall be determined from time to time by the

      Board.  In addition, Executive shall be entitled to receive payments

      under any incentive compensation or bonus program (as in effect from

      time to time), which the Bank may establish for its employees and/or

      senior executives, in such amounts as are provided by such programs.



            1.3   Employee Benefits.  As a full-time employee of the Bank,

      Executive shall be eligible to participate in any and all employee

      benefit plans generally available to full-time employees of the Bank,

      including non-contributory plans and, at Executive's option,

      contributory plans.



            1.4   Certain Specified Employee Benefits.



                  (a)   Grant of Stock Options.  Executive shall receive

            stock options to purchase shares of the Company's common stock

            in such number, at an exercise price and on such other terms as

            may be approved by the Compensation Committee of the Company

            Board, in its sole discretion.  Any such options will become

            exercisable on a schedule no less favorable than the following:

            20% on the grant date and an additional 20% on each of the

            first through fourth anniversaries of the grant date, with such

            vesting to accelerate on a Change in Control (as defined in

            Section 3.2).



                  (b)   Car Allowance.  Executive shall be entitled to

            receive a monthly car allowance in the amount of $600 per

            month.



            1.5   Vacation.  Executive shall be entitled to four weeks of

      vacation during each year of employment, such vacation to be taken in

      accordance with the Bank's customary vacation policies and at such

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