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EXHIBIT 10.6

                                  DERBY SAVINGS BANK
                              DEFERRED COMPENSATION PLAN
                                    FOR DIRECTORS


                                      ARTICLE I
                                       PURPOSE

1.1   PURPOSE.  The DERBY SAVINGS BANK DEFERRED COMPENSATION PLAN FOR DIRECTORS
(the "Plan") is a nonqualified deferred compensation plan designed to enable
members of the Board of Directors of Derby Savings Bank (the "Bank") who are not
executive officers or employees of DS Bancor, Inc. (the "Corporation"), the Bank
or any subsidiary of the Corporation or the Bank ("Directors") to defer receipt
of compensation on a tax deferred basis.  The Plan is also expected to encourage
the continued service of such individuals and to facilitate the recruiting of
Directors in the future.

1.2   EFFECTIVE DATE.  The Plan shall be effective as of October 1, 1995.


                                      ARTICLE II
                                     DEFINITIONS

2.1   DEFINITIONS.  As used herein, the following terms shall have the
following meanings:

      (a)     BANK.  Derby Savings Bank, its successors and assigns.

      (b)     BENEFICIARY.  The person designated by the Participant to receive
Plan benefits in the event of the Participant's death.

      (c)     BOARD.  The Board of Directors of the Bank.

      (d)     COMMITTEE.  Any Committee authorized by the Board to administer
the Plan.

      (e)     CORPORATION.  DS Bancor, Inc., the parent corporation of the
Bank.

      (f)     DIRECTOR.  A member of the Board of Directors of the Bank who is
not an executive officer or employee of the Corporation, the Bank or any
subsidiary of the Corporation or the Bank.

      (g)     DISABILITY.  A Participant's permanent and total incapacity to
perform any substantial services for the Bank by reason of any medically deter-
minable physical or mental impairment which can be expected to result in death
or which has lasted or can be expected to last for a continuous period of not
less than 12 months.  Disability shall be deemed to exist only when a written
application has been filed with the Board by or on behalf of the Participant and
when such Disability is certified to the Board by a licensed physician approved
by the Board.  However, in the event the Participant meets the requirement for
disability benefits under the Social Security law then in effect, he or she
shall thereafter be deemed to have incurred a Disability within the meaning of
this definition.


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      (h)     PARTICIPANT.  A Director who elects to defer compensation under
the Plan pursuant to Article IV.

      (i)     PLAN.  The DERBY SAVINGS BANK DEFERRED COMPENSATION PLAN FOR
DIRECTORS, including any amendments, rules and regulations adopted pursuant
hereto.


                                     ARTICLE III
                                     ELIGIBILITY

      Eligibility to participate in the Plan will be limited to Directors, as
defined in Article II, Section 2.1 (i.e. an "outside" director).


                                      ARTICLE IV
                                DEFERRED COMPENSATION

4.1   DEFERRAL OF DIRECTORS' FEES.  A Director may elect to defer all or any
portion of any retainer fees or any board and committee meeting fees (or such
other compensation) he or she might earn with respect to his or her services
to the Bank during any single calendar year provided that the Participant
irrevocably elects to defer such amounts prior to the commencement of such
calendar year (except that, for 1995, such election shall be made on or before
October 31, 1995).

4.2   ELECTION OF ALTERNATIVE FORM OF BENEFIT.  At the time the Participant
makes any individual election pursuant to this Article IV to defer amounts
earned during a calendar year, the Participant may also elect that any amounts
deferred pursuant to such election be distributed upon termination of service
pursuant to subsection 5.1(b) in ten annual installments.  Otherwise, all
distributions upon termination of service will be made in a lump sum pursuant to
subsection 5.1(a).

4.3   ACCOUNTING FOR DEFERRED COMPENSATION.  The amount of compensation
deferred under Section 4.1 above (collectively, "Deferred Compensation") by the
Participant shall be credited by the Bank to an Individual Deferred Compensation
Account ("IDCA") maintained for each Participant (collectively, the "Deferred
Compensation Accounts").  A deferral shall be credited to the appropriate IDCA
at the end of the calendar month with respect to which the deferral is made.  A
payment to a Participant or Beneficiary shall be charged to the appropriate IDCA
as of the time the payment is made.  Interest shall be compounded and credited
monthly to each Participant's IDCA (i) as of the last day of each calendar month
during the period beginning when the Deferred Compensation is first so credited,
and ending on the last day of the calendar year preceding the date described in
(ii) below, and (ii) as of the date of distribution of a final installment
payment (pursuant to Section 5.1(b) or Section 5.3) or a lump sum payment
(pursuant to Sections 5.1(a), 5.2 or 5.3) of the amounts credited to the
Participant's IDCA.  The rate of interest shall be the interest rate on one year
United States Treasury obligations, as reported from time to time in THE WALL
STREET JOURNAL, plus .50 basis points, adjusted monthly.


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                                      ARTICLE V
                        DISTRIBUTION OF DEFERRED COMPENSATION

5.1   PAYMENT UPON TERMINATION OF SERVICE.  Except as provided in Sections 5.2
and 5.3 and Article VIII, upon the termination of service of the Participant as
a Director, amounts in the Participant's IDCA shall be distributed as follows:

      (a)     LUMP SUM ELECTION:  Amounts credited to the Participant's IDCA
shall be paid to such Participant in a single lump sum within 60 days following
the date on which the Participant terminates service with the Bank.

      (b)     INSTALLMENT ELECTION:  Amounts credited to the Participant's IDCA
shall be distributed in ten substantially equal, annual installments.  The first
installment shall be paid to the Participant 60 days following the Participant's
termination of service.  Subsequent installments shall be paid to the
Participant annually on the 60th day of the calendar year commencing with the
calendar year immediately following the calendar year in which the Participant
received the first installment.  Each installment shall be equal to the balance
credited to the IDCA multiplied by a fraction, the numerator of which is 1 and
the denominator of which is 10 minus the number of annual installments
previously paid the Participant (so that the first installment will be 1/10th of
the account, the second installment will be 1/9th of the account and so on).

5.2   PAYMENT UPON DISABILITY.  Upon a Participant's Disability, the aggregate
amount credited to the Participant's IDCA shall be paid to the Participant
within 60 days following the Participant's termination of service on account of
such Disability.

5.3   PAYMENT UPON DEATH.  Upon a Participant's death, if the Participant had
elected a lump sum distribution, the entire amount credited to the Participant's
IDCA shall be paid to the Beneficiary within 60 days following the Participant's
death.  If a Participant had elected installment distributions, installment
distributions of the balance remaining in the Participant's IDCA, if any, shall
continue or commence, within 60 days following the Participant's death, to the
Beneficiary pursuant to subsection 5.1(b).  If the Participant has not
designated a Beneficiary, or if the Beneficiary does not survive the
Participant, the aggregate amount credited to the Participant's IDCA shall be
distributed in a single lump sum to the Participant's estate.



                                      ARTICLE VI
                                       FUNDING

      The obligation of the Bank to pay benefits under this Plan shall be
interpreted as a contractual obligation to pay only those amounts described in
Article IV in the manner and under the conditions prescribed in Article V.  The
Bank shall not have any obligation to fund these benefits.  If the Bank
determines that Deferred Compensation under the Plan should be funded, it may
utilize, singly or in combination, any method of funding it may deem
appropriate, including, but not limited to, terminal funding, a group or
individual trust, annuity contracts or life insurance contracts.  Any assets set
aside to fund Deferred Compensation shall be subject to the claims of general
creditors, and no person other than the Bank shall, by virtue of the provisions
of the Plan, have any interest in such funds.


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                                     ARTICLE VII
                                    ADMINISTRATION

7.1   ADMINISTRATION.  The Plan will be administered by the Board or the
Committee.  The Board or the Committee will have absolute discretion to:

      (a)     interpret the Plan,

      (b)     create and revise rules and procedures for the administration of
the Plan, and

      (c)     take any other actions and make any other determinations as it
may deem necessary and proper for the administration of the Plan.  Any expenses
incurred in the administration of the Plan will be paid by the Bank.

7.2   DETERMINATIONS.  All decisions and determinations by the Board or the
Committee shall be final and binding upon all Participants and Beneficiaries.


                                     ARTICLE VIII
                      AMENDMENT, DISCONTINUANCE, AND TERMINATION

      The Board retains the right to modify, amend, discontinue or terminate
the Plan at any time; provided, however, that no modification, amendment,
discontinuance or termination shall adversely affect the rights of Participants
to amounts credited to the Deferred Compensation Accounts maintained on behalf
of such Participants before such modification, amendment, discontinuance or
termination.  Notice of every such modification, amendment, discontinuance or
termination shall be given in writing to each Participant.  In the case of
termination of the Plan, any amounts credited to the IDCA of a Participant shall
be distributed in full to such Participant as soon as reasonably practicable
following such termination.


                                      ARTICLE IX
                                    MISCELLANEOUS

9.1   NON-GUARANTEE OF CONTINUED SERVICE AS A DIRECTOR.  Participation in the
Plan does not give any person any right to be retained in the service of the
Bank.

9.2   RIGHTS OF PARTICIPANTS AND BENEFICIARIES TO BENEFITS.  All rights of a
Participant or Beneficiary under the Plan to amounts credited to his/her IDCA
are mere unsecured contractual rights of the Participant or Beneficiary and are
solely those of unsecured, general creditors of the Bank.

9.3   NO ASSIGNMENT.  No rights or benefits under the Plan shall be subject in
any way to voluntary or involuntary alienation, sale, transfer, assignment,
pledge, attachment, garnishment, execution, or encumbrance, and any attempt to
accomplish the same shall be void.

9.4   WITHHOLDING.  The Bank shall have the right to deduct from any
distribution any taxes required by law to be withheld from a Participant with
respect to such award.


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9.5   ACCOUNT STATEMENTS.  On a monthly basis, each Participant shall receive
from the Bank a statement indicating the amounts credited to and distributed
from the Participant's IDCA during such period.

9.6   MASCULINE, FEMININE, SINGULAR AND PLURAL.  The masculine shall be read in
the feminine, the singular in the plural, and vice versa, whenever the context
shall so require.

9.7   GOVERNING LAW.  Except to the extent preempted by applicable federal
laws, the Plan shall be construed according to the laws of the State of
Connecticut, other than its choice of law principles.

9.8   TITLES.  The titles to Articles and Sections in this Plan are placed
herein for convenience of reference only, and the Plan is not to be construed by
reference thereto.

9.9   OTHER PLANS.  Nothing in this Plan shall be construed to affect the
rights of a Participant, his or her Beneficiaries, or his or her estate to
receive any  retirement or death benefit under any tax-qualified or nonqualified
pension plan, deferred compensation agreement, insurance agreement, tax-deferred
annuity or other retirement plan of the Bank.



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