Exhibit 10.18

                                 LIFE INSURANCE
                      ENDORSEMENT METHOD SPLIT DOLLAR PLAN
                                    AGREEMENT

Insurer:

Policy Number:

Bank:                               Park West Bank and Trust Company

Insured:

Relationship of Insured to Bank:    Executive

Trust:                              Rabbi Trust for the

The respective rights and duties of the Bank and the Insured in the
above-referenced policy shall be pursuant to the terms set forth below:

I.       DEFINITIONS

         Refer to the policy contract for the definition of any terms in this
         Agreement that are not defined herein. If a definition of a term in the
         policy is inconsistent with the definition of a term in this Agreement,
         then the definition of the term as set forth in this Agreement shall
         supersede and replace the definition of the terms as set forth in the
         policy.

II.      POLICY TITLE AND OWNERSHIP

         Title and ownership shall reside in the Trustee for the Rabbi Trust for
         the Agreement for its use and for the use of the Insured all in
         accordance with this Agreement. The Trustee at the direction of the
         Bank may, to the extent of its interest, exercise the right to borrow
         or withdraw on the policy cash values. Where the Trustee at the
         direction of the Bank and the Insured (or assignee, with the consent of
         the Insured) mutually agree to exercise the right to increase the
         coverage under the subject Split Dollar policy, then, in such event,
         the rights, duties and benefits of the parties to such increased
         coverage shall continue to be subject to the terms of this Agreement.

III.     BENEFICIARY DESIGNATION RIGHTS

         The Insured (or assignee) shall have the right and power to designate a
         beneficiary or beneficiaries to receive the Insured's share of the
         proceeds payable upon the death of the Insured, and to elect and change
         a payment option for such beneficiary, subject to any right or interest
         the Trustee at the direction of the Bank or the Trust may have in such
         proceeds, as provided in this Agreement.

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IV.      PREMIUM PAYMENT METHOD

         The Bank or the Trustee at the direction of the Bank shall pay an
         amount equal to the planned premiums and any other premium payments
         that might become necessary to keep the policy in force.

V.       TAXABLE BENEFIT

         Annually the Insured will receive a taxable benefit equal to the
         assumed cost of insurance as required by the Internal Revenue Service.
         The Bank or the Trustee at the direction of the Bank will report to the
         Insured the amount of imputed income each year on Form W-2 or its
         equivalent.

VI.      DIVISION OF DEATH PROCEEDS

         Subject to Paragraphs VII and IX herein, the division of the death
         proceeds of the policy is as provided in Schedule A.

VII.     DIVISION OF THE CASH SURRENDER VALUE OF THE POLICY

         The Bank or the Trust shall at all times be entitled to an amount equal
         to the policy's cash value, as that term is defined in the policy
         contract, less any policy loans and unpaid interest or cash withdrawals
         previously incurred by the Bank or the Trustee at the direction of the
         Bank and any applicable surrender charges. Such cash value shall be
         determined as of the date of surrender or death as the case may be.

VIII.    RIGHTS OF PARTIES WHERE POLICY ENDOWMENT OR ANNUITY ELECTION EXISTS

         In the event the policy involves an endowment or annuity element, the
         Bank's or the Trust' right and interest in any endowment proceeds or
         annuity benefits, on expiration of the deferment period, shall be
         determined under the provisions of this Agreement by regarding such
         endowment proceeds or the commuted value of such annuity benefits as
         the policy's cash value. Such endowment proceeds or annuity benefits
         shall be considered to be like death proceeds for the purposes of
         division under this Agreement.

IX.      TERMINATION OF AGREEMENT

         This Agreement shall terminate upon the occurrence of any one of the
         following:

         A.       The Insured shall be discharged from employment with the Bank
                  for cause. The term "for cause" shall mean the conviction of a
                  felony that results in an adverse effect on the Bank;

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         B.       Surrender, lapse, or other termination of the Policy by the
                  Bank.

         C.       The Insured, without the written consent of the Bank, prior to
                  attaining age sixty (60) and within three (3) years of the
                  Insured's termination of employment with the Bank shall become
                  an officer, employee, consultant, director or trustee of any
                  savings bank, savings and loan association, savings and loan
                  holding company, bank or bank holding company, any other
                  entity engaged in the business of accepting deposits or making
                  loans or any direct or indirect subsidiary or affiliate of any
                  such entity, that entails working within the Commonwealth of
                  Massachusetts, the State of Connecticut, or any other city or
                  county in which the Bank maintains an office.

         Upon such termination, the Insured (or assignee) shall have a fifteen
         (15) day option to receive from the Bank or the Trustee at the
         direction of the Bank an absolute assignment of the policy in
         consideration of a cash payment to the Bank or the Trustee at the
         direction of the Bank, whereupon this Agreement shall terminate. Such
         cash payment referred to hereinabove shall be the greater of:

         1.       The Bank's or the Trust's share of the cash value of the
                  policy on the date of such assignment, as defined in this
                  Agreement; or

         2.       The amount of the premiums which have been paid by the Bank or
                  the Trustee at the direction of the Bank prior to the date of
                  such assignment.

         If, within said fifteen (15) day period, the Insured fails to exercise
         said option, fails to procure the entire aforestated cash payment, or
         dies, then the option shall terminate and the Insured (or assignee)
         agrees that all of the Insured's rights, interest and claims in the
         policy shall terminate as of the date of the termination of this
         Agreement.

         The Insured expressly agrees that this Agreement shall constitute
         sufficient written notice to the Insured of the Insured's option to
         receive an absolute assignment of the policy as set forth herein.

         Except as provided above, this Agreement shall terminate upon
         distribution of the death benefit proceeds in accordance with Paragraph
         VI above.

X.       INSURED'S OR ASSIGNEE'S ASSIGNMENT RIGHTS

         The Insured may not, without the written consent of the Bank, assign to
         any individual, trust or other organization, any right, title or
         interest in the subject policy nor any rights, options, privileges or
         duties created under this Agreement.

XI.      AGREEMENT BINDING UPON THE PARTIES

         This Agreement shall bind the Insured and the Bank or the Trustee at
         the direction of the Bank, their heirs, successors, personal
         representatives and assigns.

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XII.     ERISA PROVISIONS

         The following provisions are part of this Agreement and are intended to
         meet the requirements of the Employee Retirement Income Security Act of
         1974 ("ERISA"):

         A.       Named Fiduciary and Plan Administrator.

                  The "Named Fiduciary and Plan Administrator" of this
                  Endorsement Method Split Dollar Agreement shall be Park West
                  Bank and Trust Company until its resignation or removal by the
                  Board of Directors. As Named Fiduciary and Plan Administrator,
                  the Bank or the Trustee at the direction of the Bank shall be
                  responsible for the management, control, and administration of
                  this Split Dollar Plan as established herein. The Named
                  Fiduciary may delegate to others certain aspects of the
                  management and operation responsibilities of the Plan,
                  including the employment of advisors and the delegation of any
                  ministerial duties to qualified individuals.

         B.       Funding Policy.

                  The funding policy for this Split Dollar Plan shall be to
                  maintain the subject policy in force by paying, when due, all
                  premiums required.

         C.       Basis of Payment of Benefits.

                  Direct payment by the Insurer is the basis of payment of
                  benefits under this Agreement, with those benefits in turn
                  being based on the payment of premiums as provided in this
                  Agreement.

         D.       Claim Procedures.

                  Claim forms or claim information as to the subject policy can
                  be obtained by contacting Benmark, Inc. (800-544-6079). When
                  the Named Fiduciary has a claim which may be covered under the
                  provisions described in the insurance policy, they should
                  contact the office named above, and they will either complete
                  a claim form and forward it to an authorized representative of
                  the Insurer or advise the named Fiduciary what further
                  requirements are necessary. The Insurer will evaluate and make
                  a decision as to payment. If the claim is payable, a benefit
                  check will be issued in accordance with the terms of this
                  Agreement.

                  In the event that a claim is not eligible under the policy,
                  the Insurer will notify the Named Fiduciary of the denial
                  pursuant to the requirements under the terms of the policy. If
                  the Named Fiduciary is dissatisfied with the denial of the
                  claim and wishes to contest such claim denial, they should
                  contact the office named above and they will assist in making
                  an inquiry to the Insurer. All objections to the Insurer's
                  actions should be in writing and submitted to the office named
                  above for transmittal to the Insurer.

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XIII.    GENDER

         Whenever in this Agreement words are used in the masculine or neuter
         gender, they shall be read and construed as in the masculine, feminine
         or neuter gender, whenever they should so apply.

XIV.     INSURANCE COMPANY NOT A PARTY TO THIS AGREEMENT

         The Insurer shall not be deemed a party to this Agreement, but will
         respect the rights of the parties as herein developed upon receiving an
         executed copy of this Agreement. Payment or other performance in
         accordance with the policy provisions shall fully discharge the Insurer
         from any and all liability.

XV.      CHANGE OF CONTROL

         Change in Control shall mean and include the following with respect to
         Westbank Corporation or any successor thereto:

         (1)      The acquisition of "control" (within the meaning of Section
                  2(a)(2) of the Bank Holding Company Act of 1956, as amended,
                  or of Section 602 of the Change in Bank Control Act of 1978)
                  of Westbank Corporation by any person, company or other
                  entity, or of the Bank by any person, company or entity other
                  than Westbank Corporation;

         (2)      Any "person" (as such term is used in Sections 13(d) and
                  14(d)(2) of the Securities Exchange Act of 1934) is or becomes
                  the "beneficial owner" (as defined in Rule 13d-3 thereunder),
                  directly or indirectly, of securities of Westbank Corporation
                  representing 20% or more of the combined voting power of
                  Westbank Corporation's then-outstanding securities;

         (3)      Any such person becomes the beneficial owner, directly or
                  indirectly, of securities of Westbank Corporation representing
                  less than 20% of Westbank Corporation's then-outstanding
                  securities, but is determined by a court or regulatory agency
                  with jurisdiction over the matter to possess or to have
                  exercised control over Westbank Corporation; or

         (4)      During any period of two consecutive years, individuals who at
                  the beginning of such period constitute the Board of Directors
                  of Westbank Corporation cease for any reason to constitute at
                  least a majority thereof unless the election or the nomination
                  for election by Westbank Corporation's stockholders of each
                  new director was approved by a vote of at least three-fourths
                  of the directors of Westbank Corporation then still in office
                  who were directors at the beginning of the period.

         (5)      Any event which would be described in Subparagraph XV (1),
                  (2), (3), or (4) if the term "Bank" were substituted for the
                  term "Westbank Corporation" herein.

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         Upon a Change of Control, if the Insured's employment is subsequently
         terminated, except for cause, then the Insured shall be one hundred
         percent (100%) vested in the benefits promised in this Agreement and,
         therefore, upon the death of the Insured, the Insured's
         beneficiary(ies) (designated in accordance with Paragraph III) shall
         receive one hundred percent (100%) of the death benefit provided herein
         in Schedule A.

XVI.     AMENDMENT OR REVOCATION

         It is agreed by and between the parties hereto that, during the
         lifetime of the Insured, this Agreement may be amended or revoked at
         any time or times, in whole or in part, by the mutual written consent
         of the Insured and the Bank.

XVII.    EFFECTIVE DATE

         The Effective Date of this Agreement shall be ____________,_____.


XVIII.   SEVERABILITY AND INTERPRETATION

         If a provision of this Agreement is held to be invalid or
         unenforceable, the remaining provisions shall nonetheless be
         enforceable according to their terms. Further, in the event that any
         provision is held to be over broad as written, such provision shall be
         deemed amended to narrow its application to the extent necessary to
         make the provision enforceable according to law and enforced as
         amended.

XIX.     APPLICABLE LAW

         The validity and interpretation of this Agreement shall be governed by
         the internal laws of the Commonwealth of Massachusetts applicable to
         contracts to be performed wholly within the Commonwealth of
         Massachusetts among parties all of whom are citizens and residents of
         the Commonwealth of Massachusetts.

Executed at _________, __________, this ______ day of ____________, 2001.


                                    PARK WEST BANK AND TRUST COMPANY

--------------------------------    By:  ---------------------------------------
Witness                                                  Title

--------------------------------    --------------------------------------------
Witness                             Insured

--------------------------------    --------------------------------------------
Witness                             Trustee

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                                   SCHEDULE A

         A.       Should the Insured die subsequent to the _____ day of
                  ___________, _______, the Insured's beneficiary(ies),
                  designated in accordance with Paragraph III, shall be entitled
                  to an amount equal to percent (___%) of the net-at- risk
                  insurance portion of the proceeds. The net-at-risk insurance
                  portion is the total proceeds less the cash value of the
                  policy.

         B.       The Bank shall be entitled to the remainder of such proceeds.

         C.       The Bank and the Insured (or assignees) shall share in any
                  interest due on the death proceeds on a pro rata basis as the
                  proceeds due each respectively bears to the total proceeds,
                  excluding any such interest.

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