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                                                                   EXHIBIT 10.11
                        OFFICER'S DEATH BENEFIT AGREEMENT



         THIS AGREEMENT, made this 10th day of December 2003, by and between
Naugatuck Valley Savings and Loan, S.B., a banking corporation organized and
existing under the laws of the United States of America, hereinafter referred to
as the "Bank", and Lee R. Schlesinger, hereinafter referred to as the "Officer".

                                  WITNESSETH:

         WHEREAS, the Officer is currently retained by the Bank;

         WHEREAS, the Bank recognizes the valuable services heretofore performed
for it by the Officer;

         WHEREAS, the Bank desires to retain the valuable service and loyalty of
the Officer and to induce the Officer to remain with the Bank;

         WHEREAS, the Officer wishes to be assured that his beneficiary will be
entitled to a certain benefit for some definite period of time from and after
the Officer's death;

         WHEREAS, the Bank intends to purchase for its own benefit a life
insurance policy on the life of the Officer; and

         WHEREAS, the Bank desires to provide a lesser death benefit from said
life insurance proceeds payable by Bank to the designated beneficiary of the
Officer in the event of his death under certain circumstances as well as other
such benefits as set forth herein, and both parties desire to enter into this
Agreement to evidence the terms and conditions of such benefits;

         NOW, THEREFORE, in consideration of the mutual covenants and Agreements
herein contained, it is agreed as follows:

         Upon the death of the Officer, a death benefit will be payable to his
         designed beneficiary. The death benefit payable pursuant to this
         subparagraph shall be Twenty-five Thousand and 00/100ths dollars
         ($25,000.00) paid in a lump sum.

         1.       The Death benefit payable pursuant to the paragraph above
                  shall be paid to the beneficiary or beneficiaries irrevocably
                  designated by the Officer by written instrument delivered to
                  the Bank within six (6) months of the date hereof. If no such
                  designation is made within said time period, or if all
                  designated beneficiaries predecease the Officer, such death
                  benefit shall be paid as follows:


                  a)       To Officer's spouse, if living; or if not,
                  b)       To Officer's lawful descendants, per stirpes, then
                           living; or if none,
                  c)       To the duly appointed legal representative of the
                           Officer; or
                  d)       If there shall be no such legal representative duly
                           appointed and qualified within six (6) months of the
                           date of death of the Officer, then to such persons
                           as, at the date of his death, would be entitled to
                           share in the distribution of his/her personal estate
                           under the provisions of the State of Connecticut
                           statute then in force governing the descent of
                           intestate property, in the proportions specified in
                           such statute.


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         2.       Every notice or other communication required by or appropriate
                  to this Agreement from any party shall be in writing addressed
                  to the Bank at 333 Church Street, Naugatuck, CT 06770, or to
                  Lee R. Schlesinger at 1101 Meriden Rd., Waterbury, CT 06705;
                  or to such other addresses as shall have been specified by
                  notice given as herein provided. Any such notice or other
                  communication shall be deemed to have been given on the third
                  business day after it is sent by certified mail, postage
                  prepaid, addressed as aforesaid.

         3.       Suicide. Notwithstanding anything to the contrary in this
                  Agreement, the benefits otherwise provided herein shall not be
                  payable if the Officer's death results from suicide, whether
                  sane or insane, within two years after the execution of this
                  Agreement.

         4.       This document sets forth the entire Agreement and
                  understanding between the parties hereto representing the
                  death benefit payable by the Bank upon the death of the
                  Officer and merges all prior discussions between them with
                  respect to that subject matter only, and not party shall be
                  bound by any representation, definition, condition or
                  provision other than as expressly stated in this Agreement or
                  as subsequently set forth in an amendment hereto adopted in
                  the manner provided above.

         5.       Officer agrees on behalf of himself, his heirs, executors and
                  administrators and any other person or persons claiming any
                  benefit under his by virtue of this Agreement that this
                  Agreement and all rights, interests and benefits hereunder
                  shall not be assigned, transferred, pledged or hypothecated in
                  any way by the Officer or by any beneficiary, heir, executor,
                  administrator or other person claiming under the Officer by
                  virtue of this Agreement and shall not be subject to
                  execution, attachment or similar process. Any attempted
                  assignment, transfer, pledge or hypothecation or any other
                  disposition of such rights, interests and benefits contrary to
                  the foregoing provisions or the levy or any execution,
                  attachment or similar process thereon shall be null and void
                  and without effect.

         6.       This Agreement shall be binding upon and inure to the benefit
                  of the parties hereto and their respective heirs, personal
                  representatives and successors, and any successor to the Bank
                  shall be deemed substituted for the Bank under the terms of
                  this Agreement. As used herein, the term "successor" shall
                  include any person, firm, corporation or any other business
                  entity which, at any time, whether by consolidation, merger,
                  purchase or otherwise, acquires all or substantially all of
                  the assets or business of the Bank.

         7.       The validity, construction and enforceability of this
                  Agreement shall be governed in all respects by the laws of the
                  United States of America.

         8.       Nothing contained in this Agreement shall be construed to be a
                  contract for employment for any term of years, nor as
                  conferring upon the Officer the right to continue employment
                  with the Bank in the Officer's present capacity. It is not
                  intended as a current employment contract.

         9.       Notwithstanding any of the preceding provisions of the
                  Agreement, neither the Bank, nor any individual acting as an
                  Officer or agent of the Bank or as a Member of the Board of
                  Directors, shall be liable to any Officer, former Officer, or
                  any other person for any claim, loss, liability or expense
                  incurred in connection with the Agreement.

         10.      Nothing contained in this Agreement shall affect the right of
                  the Officer to participate in, or be covered by, any qualified
                  or non-qualified pension, profit sharing, group, bonus or
                  other


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         supplemental compensation or fringe benefit Agreement constituting
         apart of the Bank's existing or future compensation structure.

         11.      This Agreement may be executed in multiple counterparts, each
                  of which shall be deemed an original and which shall
                  constitute but one and the same Agreement, which shall be
                  sufficiently evidenced for all purposes by anyone executed
                  counterpart.

         12.      This Agreement cannot be amended except by the written mutual
                  consent of both parties hereto.

                  IN WITNESS WHEREOF, the parties have caused this Agreement to
be executed on this 10th day of December, 2003.



                                                /s/ Lee R. Schlesinger
                                                -------------------------------
                                                Officer


                                                NAUGATUCK VALLEY SAVINGS
                                                AND LOAN, S.B.
                                                Naugatuck, CT


                                                By: /s/ John C. Roman
                                                -------------------------------
                                                       President and CEO
                                                       Title



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