<PAGE>

                                                                   Exhibit 10.19

                                                        "CONFIDENTIAL TREATMENT"

PLEASE NOTE: The only portions of this Plan for which the Applicant seeks
confidential treatment are the financial performance criteria set forth in
Schedule 3, Schedule 3A and Schedule 3B, which have been omitted from the public
filing and are indicated as follows: "(****)"

                             INDEPENDENT BANK CORP.
                           AND ROCKLAND TRUST COMPANY
                  EXECUTIVE OFFICER PERFORMANCE INCENTIVE PLAN

                   Plan Approval, Plan Year, and Defined Terms

     This Independent Bank Corp. And Rockland Trust Company Executive Officer
Performance Incentive Plan (the "Plan") has been approved by the Board on
February 15, 2007, based upon the recommendation of the Compensation Committee,
for use in the 2007 calendar year.

     Capitalized terms used in this Plan are defined as set forth below in
Section 5.

SECTION 1: PURPOSE

     This Plan has been created to provide salaried Executive Officers of the
Holding Company and the Bank who are not entitled to sales commissions with a
cash incentive program designed to motivate them to perform to their full
potential and thereby assist the Holding Company and the Bank in achieving
financial success. The financial success of the Holding Company and the Bank
shall be determined by comparing the financial results of the Holding Company
with specific financial performance goals approved by the Board, based upon the
recommendation of the Compensation Committee.

     A diagram depicting the process and computation used to determine a
Participant's Award, which is more fully described below, is attached hereto as
Schedule 1.

SECTION 2: AWARDS

     Awards to Participants will be determined, and paid, as follows:

a.   PARTICIPANTS. The persons eligible to receive Awards will consist of the
     Executive Officers. ANY EXECUTIVE OFFICERS WHO ARE PAID SALES COMMISSIONS
     ARE NOT ELIGIBLE TO PARTICIPATE IN THIS PLAN. Executive Officers will be
     eligible to participate in this Plan upon their first date of employment.
     Executive Officers with less than one year of service will receive a
     prorated award based on length of service. Newly elected Executive Officers
     will participate in this Plan upon election to Executive Officer status.

b.   AWARD DETERMINATION. The Award for the CEO will be derived from the product
     of the CEO's Target Award multiplied by the Bank Performance Factor. The
     Award for all


                                                                    Page 1 of 13

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                                                        "CONFIDENTIAL TREATMENT"

     Participants other than the CEO will be derived from the product of the
     Participant's Target Award multiplied by the Bank Performance Adjustment
     Factor and multiplied by the Individual Performance Adjustment Factor. The
     Award payable to any Participant, therefore, may be less than or more than
     the Participant's Target Award, depending upon whether, or the extent to
     which, Bank Performance Goals and -- if applicable -- individual
     Performance Goals and Objectives for the Plan Year have been achieved.

c.   TARGET AWARDS. Target Awards will be established by the Board for each
     Participant. The tiers of percentages used to determine Target Awards for
     Executive Officers for the Plan Year is attached hereto as Schedule 2.

d.   BANK PERFORMANCE GOALS. Bank Performance Goals will be established by the
     Board as soon as practical. The Bank Performance Goals for the Plan Year
     are attached hereto as Schedule 3. In general, Bank Performance Goals will
     measure the Holding Company's financial performance and also, when
     appropriate, the achievement of specified strategic goals and/or
     operational objectives.

e.   BANK PERFORMANCE ADJUSTMENT FACTOR. The Bank Performance Adjustment Factor
     may be adjusted upward or downward within the parameters set forth on
     Schedule 3 based upon the performance of the Holding Company as to a given
     performance criteria set forth in the Bank Performance Goals. The range of
     the Bank Performance Adjustment Factor for the CEO with respect to the
     Earnings Per Share Measure is set forth on Schedule 3A. The range of the
     Bank Performance Adjustment Factor for all Participants other than the CEO
     with respect to the Earnings Per Share Measure is set forth on Schedule 3B.
     The range of the Bank Performance Adjustment Factor set forth on Schedule
     3A and Schedule 3B, however, is subject to a 75% reduction if the threshold
     set forth on Schedule 3 for either the Return On Average Equity Measure or
     the Return On Average Assets Measure is not met.

f.   INDIVIDUAL PERFORMANCE ADJUSTMENT FACTOR. The Individual Performance
     Adjustment Factor will not be applicable to the CEO. For all Participants
     other than the CEO, the Individual Performance Adjustment Factor may be
     adjusted upward or downward within the parameters set forth on Schedule 4
     based upon an evaluation of their achievement of individual Performance
     Goals and Objectives for the Plan Year.

g.   PAYMENT OF AWARDS. Awards will be paid, in cash, as soon as practicable
     after the close of the Plan Year. No Award will be payable to any
     Participant who is not an Employee on the last day of the Plan Year except
     that if, during the last eight months of the year, the Participant takes
     normal retirement (as defined in the Bank's principal retirement program),
     dies, or is involuntarily terminated other than for Cause, the Participant
     may be entitled to a prorated Award as and to the extent determined by the
     Board. If a Participant is on disability for more than four months of the
     Plan Year, the Participant will be entitled to a prorated Award. If
     disability lasts four months or less, there will be no reduction in the
     amount of the Award. Participants who resign voluntarily after the end of
     the year, but before Award payments are made, will be eligible for an Award
     as and to the extent determined by the Board. Participants who leave after
     the end of the Plan Year with an overall rating of "1" or "2" on their
     Employee Performance Appraisal for the Plan Year will not be eligible for
     an


                                                                    Page 2 of 13

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                                                        "CONFIDENTIAL TREATMENT"

     Award. In the event of a Change of Control, the funds accrued by the Bank
     to the date of the Change of Control will, subject to the approval of the
     Board, be awarded to the Participants according to the terms of this Plan.

SECTION 3: ADMINISTRATION

This Plan will be administered by the Board, based upon the recommendations of
the Compensation Committee. All determinations regarding the achievement of any
Bank Performance Goals, the achievement of a Participant's individual
Performance Goals and Objectives, and the amount of any individual Award will be
made by the Board, in its sole and absolute discretion, based upon the
recommendations of the Compensation Committee. Notwithstanding any other
provision of this Plan to the contrary, the Board reserves the right, in its
sole and absolute discretion, to: make adjustments to the Bank Performance
Adjustment Factor within the parameters set forth on Schedule 3 based upon
either one-time, non-recurring, or extraordinary events or any other reason that
the Board deems appropriate; increase the Award for the CEO up to a maximum of
1.25 times the amount that would be called for by the product of the CEO's
Target Award multiplied by the Bank Performance Adjustment Factor; and, to
reduce, including a reduction to zero, any Award to a Participant otherwise
payable under this Plan.

a.   AUTHORITY. The Board will have authority (i) to exercise all of the powers
     granted under this Plan, (ii) to construe, interpret and implement this
     Plan and any related document, (iii) to prescribe, amend and rescind rules
     relating to this Plan, (iv) to make all determinations necessary or
     advisable in administering this Plan, and (v) to correct any defect, supply
     any omission and reconcile any inconsistency in this Plan. The Board shall
     also have such other and further specified duties, powers, authority, and
     discretion as are elsewhere expressly set forth in this Plan or as may be
     conferred upon the Board by necessary implication.

b.   DETERMINATIONS FINAL. The actions and determinations of the Board on all
     matters relating to the Plan and any Awards will be final and conclusive,
     except to the extent otherwise provided by law.

c.   LIABILITY. The Board will not be liable for any action taken or
     determination made in good faith with respect to this Plan or any Award
     hereunder, and the Holding Company and the Bank will indemnify and hold the
     Board harmless with respect to any actions taken or decisions made in good
     faith under this Plan.

d.   AWARDS. The Board will have authority to determine, among other things, the
     Executive Officers to whom, and the time or times at which, Awards will be
     made and the requisite conditions thereof.

SECTION 4: MISCELLANEOUS

a.   NONASSIGNABILITY. No Award will be assignable or transferable (including
     pursuant to a pledge or security interest) other than by will or by laws of
     descent and distribution.


                                                                    Page 3 of 13

<PAGE>

                                                        "CONFIDENTIAL TREATMENT"

b.   WITHHOLDING TAXES. Whenever payments under this Plan are to be made, the
     Bank may withhold therefrom an amount sufficient to satisfy any applicable
     governmental withholding tax requirements related thereto.

c.   AMENDMENT OR TERMINATION OF THIS PLAN. The Board may from time to time
     suspend or discontinue this Plan or revise, amend, or terminate this Plan.

d.   NON-UNIFORM DETERMINATIONS. The Board's determinations under this Plan need
     not be uniform and may be made selectively among persons who receive, or
     are eligible to receive, Awards under this Plan, whether or not such
     persons are similarly situated. Without limiting the generality of the
     foregoing, the Board will be entitled, among other things, to make
     non-uniform and selective determinations and to establish non-uniform and
     selective Target Awards. Any non-uniform determinations known at the time
     this Plan was approved are set forth on Schedule 5.

e.   OTHER PAYMENTS OR AWARDS. Nothing contained in this Plan will be deemed in
     any way to limit or restrict the Holding Company, the Bank, or the Board,
     from making any award or payment to any person under any other plan,
     arrangement or understanding, whether now existing or hereafter in effect.

f.   PAYMENTS TO OTHER PERSONS. If payments are legally required to be made to
     any person other than the person to whom any amount is available under this
     Plan, payments will be made accordingly. Any such payment will be a
     complete discharge of the liability of the Holding Company, the Bank,
     and/or the Board.

g.   UNFUNDED PLAN. This is an unfunded Plan. No provision of this Plan will
     require the Holding Company or the Bank, for the purpose of satisfying any
     obligations under this Plan, to purchase assets or place any assets in a
     trust or other entity to which contributions are made or otherwise to
     segregate any assets, nor will the Holding Company or the Bank maintain
     separate bank accounts, books, records or other evidence of the existence
     of a segregated or separately maintained or administered fund for such
     purposes. Participants will have no rights under this Plan other than as
     unsecured general creditors of the Holding Company and the Bank, except
     that insofar as they may have become entitled to payment of additional
     compensation by performance of services, they will have the same rights as
     other employees under generally applicable law.

h.   LIMITS OF LIABILITY. Neither the Holding Company, the Bank, the Board, nor
     any other person participating in any determination of any question under
     this Plan, or in the interpretation, administration or application of this
     Plan, will have any liability to any party for any action taken or not
     taken in good faith under this Plan.

i.   RIGHTS OF EMPLOYEES. Nothing contained in this Plan will confer upon any
     Employee or Participant any right to continue in the employ or other
     service of the Holding Company or the Bank or constitute any contract or
     limit in any way the right of the Holding Company or the Bank to change
     such person's compensation or other benefits or to terminate the employment
     or other service of such person with or without Cause.


                                                                    Page 4 of 13

<PAGE>

                                                        "CONFIDENTIAL TREATMENT"

j.   SECTION HEADINGS. The section headings contained herein are for the
     purposes of convenience only, and in the event of any conflict, the text of
     this Plan, rather than the section headings, will control.

k.   INVALIDITY. If any term or provision contained herein will to any extent be
     invalid or unenforceable, such term or provision will be reformed so that
     it is valid, and such invalidity or unenforceability will not affect any
     other provision or part hereof.

l.   APPLICABLE LAW. The Plan will be governed by the laws of the Commonwealth
     of Massachusetts without regard to the conflict of law principles thereof.

SECTION 5: DEFINITIONS

The following terms, as used herein, will have the meaning specified:

a.   "AWARD" means a cash incentive payment made to a Participant pursuant to
     this Plan.

b.   "BANK" means Rockland Trust Company.

c.   "BANK PERFORMANCE GOALS" means the criteria set forth on Schedule 3 that
     have been selected to measure the Holding Company's financial performance
     and also, when appropriate, the achievement of specified strategic goals
     and/or operational objectives.

d.   "BANK PERFORMANCE ADJUSTMENT FACTOR" means a factor determined by the level
     of performance against the criteria set forth in the Bank Performance
     Goals.

e.   "BOARD" means the Board of Directors of the Holding Company, as it may be
     comprised from time to time.

f.   "CAUSE" means (i) a felony conviction of a Participant; (ii) the commission
     by a participant of an act of fraud or embezzlement against the Bank or the
     Holding Company; (iii) willful misconduct or gross negligence materially
     detrimental to the Holding Company or the Bank; (iv) the Participant's
     continued failure to implement reasonable requests or directions after
     thirty (30) days written notice to the Participant; (v) the Participant's
     wrongful dissemination or use of confidential or proprietary information;
     (vi) the intentional and/or habitual neglect by the Participant of his or
     her duties to the Holding Company or the Bank; or (vii) a breach of the
     Code of Ethics for the Holding Company and the Bank; (viii) any other
     reasons consistent with the Holding Company's and/or the Bank's policies
     and procedures regarding dismissals as they are adopted and implemented
     from time to time.

g.   "CHANGE OF CONTROL" means that, prior to any payout under this Plan (a) any
     "person" (as such term is defined in Section 13 (d) of the Securities
     Exchange Act of 1934, as amended) is or becomes the beneficial owner,
     directly or indirectly, of either (i) a majority of the outstanding common
     stock of the Holding Company or the Bank, or (ii) securities of either the
     Holding Company or the Bank representing a majority of the combined voting
     power of


                                                                    Page 5 of 13

<PAGE>

                                                        "CONFIDENTIAL TREATMENT"

     the then outstanding voting securities of either the Holding Company or the
     Bank, respectively, or (b) during any period of two consecutive years
     following the date of this Plan, individuals who at the beginning of any
     such two year period constitute the Board of Directors of the Holding
     Company cease, at any time after the beginning of such period, for any
     reason to constitute a majority of the Board, unless the election of each
     new director was nominated or approved by at least two thirds of the
     directors of the Board then still in office who were either directors at
     the beginning of such two year period or whose election or whose nomination
     for election was previously so approved.

h.   "CEO" shall mean the Chief Executive Officer of the Holding Company and of
     the Bank.

i.   "COMPENSATION COMMITTEE" means the Joint Compensation Committee of the
     Boards of Directors of the Holding Company and the Bank.

j.   "EXECUTIVE OFFICER" means the CEO and any other person who has been
     identified as an Executive Officer of the Holding Company and/or the Bank
     in filings with the Securities Exchange Commission.

k.   "HOLDING COMPANY" means Independent Bank Corp.

l.   "INDIVIDUAL PERFORMANCE ADJUSTMENT FACTOR" means a factor (or factors) that
     will, when multiplied by a Participant's Target Award and the Bank
     Performance Adjustment Factor, determine the amount of a Participant's
     Award.

m.   "PARTICIPANT" means an Executive Officer selected to participate in this
     Plan whose cash compensation (other than salary) is not superseded by an
     individual employment agreement or other incentive plan. If any employee is
     governed by an individual employment agreement, such employee may be a
     Participant in the Plan to the extent the terms of such agreement does not
     supersede this Plan. EMPLOYEES WHO ARE PAID SALES COMMISSIONS ARE NOT
     ELIGIBLE TO PARTICIPATE IN THIS PLAN.

n.   "PLAN" means this Independent Bank Corp. And Rockland Trust Company
     Executive Officer Performance Incentive Plan.

o.   "PLAN YEAR" shall mean the calendar year for which this Plan has been
     approved.

p.   "TARGET AWARD" means the Participant's base salary on November 1st of the
     Plan Year, multiplied by the target percentage established for that
     Participant.


                                                                    Page 6 of 13

<PAGE>

                                                        "CONFIDENTIAL TREATMENT"

                                                                      SCHEDULE 1

                        2007 Incentive Compensation Plan

                          {2007 Incentive flow chart}

   THE INDIVIDUAL PERFORMANCE ADJUSTMENT FACTOR IS NOT APPLICABLE TO THE CEO.


                                                                    Page 7 of 13

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                                                        "CONFIDENTIAL TREATMENT"

                                                                      SCHEDULE 2

                       PERCENTAGE TIERS USED TO DETERMINE
                      TARGET AWARDS FOR EXECUTIVE OFFICERS

<TABLE>
<S>                                      <C>
President/CEO                            45%
EVP - Commercial Loan                    30%
EVP - Retail & Marketing                 30%
Treasurer/Chief Financial Officer        30%
Director of Human Resources              20%
General Counsel                          20%
Chief Technology & Operations Officer.   20%
</TABLE>


                                                                    Page 8 of 13

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                                                        "CONFIDENTIAL TREATMENT"

                                                                      SCHEDULE 3

                           BANK PERFORMANCE GOALS AND

                       BANK PERFORMANCE ADJUSTMENT FACTORS

<TABLE>
<CAPTION>
                                                BANK PERFORMANCE
                                            GOALS & BANK PERFORMANCE
                                               ADJUSTMENT FACTORS
                                          ----------------------------
MEASURE                                   THRESHOLD   TARGET   MAXIMUM
-------                                   ---------   ------   -------
<S>                  <C>                  <C>         <C>      <C>
HOLDING COMPANY       Performance Level     (****)    (****)    (****)
OPERATING EARNINGS
PER SHARE BEFORE     Adjustment:All but       50%      100%      125%
INCENTIVE PAYMENTS                  CEO

                        Adjustment: CEO       25%      100%      200%

HOLDING COMPANY       Performance Level     (****)
OPERATING RETURN
ON AVERAGE EQUITY*           Adjustment       75%      Not Applicable

HOLDING COMPANY       Performance Level     (****)
OPERATING RETURN
ON AVERAGE ASSETS*           Adjustment       75%
</TABLE>

CONSISTENT WITH THIS PLAN, THE BOARD RESERVES THE RIGHT TO ADJUST ANY AWARDS BY
   CONSIDERING FACTORS INCLUDING - BUT NOT LIMITED TO - COMPLIANCE AND CREDIT
                                     QUALITY

----------
*    The greatest adjustment is a reduction to 75% of the Bank Performance if
     one or both of the Thresholds is missed.


                                                                    Page 9 of 13

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                                                        "CONFIDENTIAL TREATMENT"

ROA AND ROE DEFINITION FOR SCHEDULE 3

For purposes of computing Holding Company Operating Return on Average Assets
("ROA") and Holding Company Operating Return on Average Equity ("ROE") for
purposes of this Plan, earnings are equal to net income as reflected on the
Company's audited consolidated statement of income adjusted, upwards or
downwards, for the after-tax effect of material non-recurring items.

EPS DEFINITION FOR SCHEDULES 3A AND 3B

For purposes of computing Operating Earnings Per Share Before Incentive Payment
("EPS") for purposes of this Plan, earnings are equal to net income as reflected
on the Company's audited consolidated statement of income excluding the
after-tax effect of the incentive expense for this Plan and adjusted, upwards or
downwards, for the after-tax effect of material non-recurring items.

                                                                     SCHEDULE 3A

                    2007 BANK PERFORMANCE ADJUSTMENT FACTORS
                  FOR CEO AT SPECIFIED LEVELS OF EPS ATTAINMENT

<TABLE>
<CAPTION>
Operating
Earnings Per
Share Before                   Bank
Incentive                  Performance
Payment                       Payout
------------               -----------
<S>            <C>         <C>
   (****)      THRESHOLD       25.0%
   (****)                      30.0%
   (****)                      35.0%
   (****)                      40.0%
   (****)                      45.0%
   (****)                      50.0%
   (****)                      55.0%
   (****)                      60.0%
   (****)                      65.0%
   (****)                      82.5%
   (****)      TARGET         100.0%
   (****)                     120.0%
   (****)                     140.0%
   (****)                     160.0%
   (****)                     180.0%
   (****)      MAXIMUM        200.0%
</TABLE>


                                                                   Page 10 of 13

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                                                        "CONFIDENTIAL TREATMENT"

                                                                     SCHEDULE 3B

                    2007 BANK PERFORMANCE ADJUSTMENT FACTORS
                         FOR PARTICIPANTS OTHER THAN CEO
                      AT SPECIFIED LEVELS OF EPS ATTAINMENT

<TABLE>
<CAPTION>
Operating
Earnings Per
Share Before                   Bank
Incentive                  Performance
Payment                       Payout
------------               -----------
<S>            <C>         <C>
   (****)      THRESHOLD       50.0%
   (****)                      52.0%
   (****)                      54.0%
   (****)                      56.0%
   (****)                      58.0%
   (****)                      60.0%
   (****)                      62.0%
   (****)                      64.0%
   (****)                      66.0%
   (****)                      83.0%
   (****)      TARGET         100.0%
   (****)                     105.0%
   (****)                     110.0%
   (****)                     115.0%
   (****)                     120.0%
   (****)      MAXIMUM        125.0%
</TABLE>


                                                                   Page 11 of 13

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                                                        "CONFIDENTIAL TREATMENT"

                                                                      SCHEDULE 4

                    INDIVIDUAL PERFORMANCE ADJUSTMENT FACTORS

<TABLE>
<CAPTION>
Individual Goals and Objectives   Individual Performance
         for Plan Year               Adjustment Factor
-------------------------------   ----------------------
<S>                               <C>
       Does Not Meet Most                   0.0

           Meets Most                    0.6 - 0.8

     Fully Meets All or all
       the most important                0.8 - 1.05

Exceeds Most or most meaningful         1.05 - 1.30

    Exceeds All or performs
       beyond objectives                1.30 - 1.70
</TABLE>

An Executive Officer's achievement of individual performance Goals and
Objectives will be measured at his/her broadest level of individual
responsibility, based upon the "Goals for Next Year" section of his/her
performance appraisal for the Plan Year. The evaluation as to achievement of
individual performance Goals and Objectives will be based on the Board's
judgment of the Executive Officer's performance on results goals only, not
overall performance rating. The Board may adjust an Executive Officer's entire
Award downward if non-goals aspects of performance (e.g., values) assessed with
the Bank's Employee Performance Appraisal are considered less than acceptable.
Awards, however, may not be increased for performance at or better than
acceptable levels on non-goals aspects of performance.


                                                                   Page 12 of 13

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                                                                      SCHEDULE 5

                       NON-UNIFORM DETERMINATIONS FOR 2007

            No non-uniform determinations have yet been made for 2007


                                                                   Page 13 of 13