SEVERANCE AND RELEASE AGREEMENT

     THIS SEVERANCE AND RELEASE AGREEMENT (the "Agreement") is made this 9th day
of December  2008 by and between Mark J. Blum (the  "Employee")  and Valley Bank
(the "Bank"),  a commercial bank organized and existing by virtue of the laws of
the  State  of  Connecticut  and  a  wholly-owned   subsidiary  of  New  England
Bancshares,  Inc., a Maryland  corporation (the "Company").  The Company and the
Bank are sometimes collectively referred to herein as the Employers.

                              W I T N E S S E T H:

     WHEREAS, the Employee currently serves as an officer of the Bank; and

     WHEREAS, the Employee currently is a party to a change in control agreement
with  the  Bank,  dated  as  of  November  21,  2006  (the  "Change  in  Control
Agreement"); and

     WHEREAS,  the Employers and Employee have had  discussions  with respect to
the  termination of Employee's  employment and the payments the Employers  would
agree to make pursuant to such termination;

     NOW,  THEREFORE,  in  consideration  of the mutual  premises and  covenants
contained  herein,  and  intending  to be legally  bound,  the parties  agree as
follows:

           1.  Termination  of Employment  and Change in Control  Agreement.
               Effective  as of December  26, 2008 (the "Date of  Termination"),
               the  Employee  shall no longer be an officer or  employee  of the
               Employers  and shall be deemed to have resigned as an officer and
               employee of the Employers.  The Change in Control  Agreement,  by
               mutual  agreement of the parties hereto,  shall be terminated and
               be of no further  force and effect as of the Date of  Termination
               and the  Executive  shall be entitled to the rights and  payments
               set forth  herein in lieu of any  rights and  payments  under the
               Change in Control Agreement and the Employer's severance plan.

           2.  Payments and Benefits to the Employee.

               (a) The  Employers  agree to pay the  Employee an amount equal to
               the annual rate of $165,000 in accordance with customary  payroll
               practices,  until  the  earlier  of:  (i) the date  the  Employee
               commences full-time employment (full-time shall mean a minimum of
               thirty-five  (35) hours a week) with a  subsequent  employer,  or
               (ii)  twelve  months  following  the  Date  of  Termination.  The
               Employee  agrees to notify the  Employers in the event he accepts
               full-time employment with a new employer.

               (b) The Employers  agree to maintain and provide  continued  life
               insurance and non-taxable  health and dental  insurance  coverage
               which Employee  participated in as of the Date of Termination for
               a period  ending the earlier of (i) twelve (12) months  following
               the  Date of  Termination  or  (ii)  the  date of the  Employee's
               full-time employment (full-

<PAGE>

               time shall mean a minimum  of  thirty-five  (35) hours a week) by
               another  employer  (provided  that the Employee is entitled under
               the terms of such employment to benefits substantially similar to
               those described in Schedule A attached  hereto) and such coverage
               shall be provided  under the same terms and  conditions in effect
               on the Date of Termination. Schedule A attached hereto provides a
               description  of the life  insurance  and  non-taxable  health and
               dental insurance coverage that the Employee participated in as of
               the Date of  Termination,  and the  amount  of his  premium  cost
               (which may increase to the extent that the premiums  increase for
               all other  employees).  The  Employee  will not be  entitled to a
               Company  car  or  disability  insurance  following  the  Date  of
               Termination.

               (c) The Employers shall have no obligation to make  contributions
               for service subsequent to the Date of Termination with respect to
               its 401(k) Plan or any other retirement or profit sharing plan on
               behalf  of  Employee  and   Employee   shall  have  no  right  to
               participate   in  such  plans  for  service  after  the  Date  of
               Termination.  All of Employee's  accrued and vested benefits held
               under the Employer's  401(k) Plan, or other retirement or benefit
               plans  as of the  Date of  Termination  shall  be  available  for
               distribution  which  shall  be made  in the  ordinary  course  of
               business in accordance  with such plan terms and past practice of
               the Employers.

           3.  Stock  Option  Plans.  It  is  acknowledged  that  no  additional
               arrangements  are being provided by the Employers to the Employee
               under any of the Employer's  stock option plans,  and that awards
               previously  made by the Employers to the Employee  which have not
               as yet vested under the Option Plans shall not accelerate and are
               intended to terminate in accordance  with the terms of the Option
               Plans.

           4.  Recognition  and  Retention  Plans.  It is  acknowledged  that no
               additional  arrangements  are being  provided by the Employers to
               the  Employee  under  any  of  the  Employer's   recognition  and
               retention  plans (the "RRPs") and that awards  previously made by
               the  Employers  to the  Employee  which have not as yet vested or
               been  earned  under the RRPs  shall not  accelerate  or be deemed
               earned and are intended to be forfeited  in  accordance  with the
               terms of the RRPs as of the date hereof.

           5.  Solicitation  of  Customers;  Use of  Customer  Lists,  etc.  The
               Employee  acknowledges  that, except as required by law or in his
               own good faith use in any proceeding,  he has no right personally
               to  use  or  disclose  to  any  person,   firm  or   corporation,
               information  concerning  any customer list,  business  secrets or
               confidential  financial information of the Employers that he knew
               was intended by the Employers to be confidential  and that he did
               not have reason to believe  had been made  public  (collectively,
               "Confidential Information").  Accordingly, the Employee covenants
               and  agrees  that  he  shall  not  use or  permit  the use of any
               Confidential Information,  and shall not divulge any Confidential
               Information to any person, firm or corporation,  except as may be
               required by applicable law arising out of his employment  with or
               participation in the affairs of the Employers.



                                       2

<PAGE>

               Further,  Employee  agrees  that he will not  solicit any current
               customer  of the  Employers,  for a period of twelve  (12) months
               from the Date of Termination for the purpose or intent to provide
               or sell to such  customers  any  banking,  financial  or business
               services or  products on behalf of any person,  company or entity
               other than the Employers  without the express  written consent of
               the Employers.

           6.  Confidentiality; Non-Disparagement.

               (a) No disclosure of the contents of this Agreement shall be made
               by either  party to this  Agreement  without  the  prior  written
               consent  of  the  other  party;  provided  that  such  disclosure
               (including  disclosures  contained in Company press  releases and
               regulatory  filings) may be made as required in  accordance  with
               federal securities law and regulations.

               (b) Employee  agrees not to make,  either directly or indirectly,
               or cause to be made, either directly or indirectly,  by any other
               person  or  entity,  any  statement  or  comment,  whether  oral,
               written,  electronic  or  otherwise,  or to take any other action
               which  disparages or criticizes the  Employers,  their present or
               former directors, officers, employees,  management,  practices or
               services, or which disrupts or impairs or could disrupt or impair
               the operations of the Employers, where such statements,  comments
               or  actions  are  based  upon the  Employee's  employment  by the
               Employers,   either  as  a  director,  officer  or  employee,  or
               knowledge  gained as a result of such  employment.  The Employers
               agree not to make, either directly or indirectly,  or cause to be
               made,  either  directly  or  indirectly,  by any other  person or
               entity, or permit to be made by any director,  officer,  employee
               or  representative  of the  Employers,  any statement or comment,
               whether oral,  written,  electronic or otherwise,  or to take any
               other action which  disparages or criticizes  the Employee  where
               such   statements,   comments  or  actions  are  based  upon  the
               Employee's  employment  by the  Employers,  either as a director,
               officer or employee.

               (c) Each of the Employers  and the Employee  covenants and agrees
               that upon any adjudication that such party has violated the terms
               of this Section 6, the party  asserting such a violation shall be
               entitled  to seek  and be  awarded  damages  together  with  such
               party's  costs,   reasonable  attorneys'  fees  and  expenses  in
               connection with enforcing the terms hereof.

           7.  Release of the Employers and Related Parties.

               (a) In  consideration of the payments and benefits to be provided
               to the Employee  pursuant to this  Agreement,  the sufficiency of
               which is  acknowledged  hereby,  Employee,  with the intention of
               binding  himself  and his heirs,  executors,  administrators  and
               assigns,   does  hereby  release,   remise,  acquit  and  forever
               discharge the Company and its  subsidiaries  and affiliates  (the
               "Company Affiliated  Group"),  their present and



                                       3

<PAGE>

               former officers,  directors,  executives,  agents,  attorneys and
               employees,  and the successors,  predecessors and assigns of each
               of the foregoing (collectively,  the "Company Released Parties"),
               of and  from  any and all  claims,  actions,  causes  of  action,
               complaints,  charges,  demands,  rights,  damages, debts, sums of
               money,   accounts,   financial   obligations,   suits,  expenses,
               attorneys'  fees and  liabilities  of whatever  kind or nature in
               law, equity or otherwise, whether accrued, absolute,  contingent,
               unliquidated  or  otherwise  and  whether  now known or  unknown,
               suspected or unsuspected,  which  Employee,  individually or as a
               member of a class,  now has,  owns or  holds,  or has at any time
               heretofore had, owned or held, against any Company Released Party
               in any  capacity,  including,  without  limitation,  any  and all
               claims (i) arising out of or in any way connected with Employee's
               service to any  member of the  Company  Affiliated  Group (or the
               predecessors thereof) in any capacity, or the termination of such
               service in any such  capacity,  (ii) for  severance  or  vacation
               benefits,  unpaid wages, salary or incentive payments,  (iii) for
               breach of contract,  wrongful  discharge,  impairment of economic
               opportunity, defamation, intentional infliction of emotional harm
               or other tort,  (iv) for any  violation of  applicable  state and
               local labor and employment laws (including,  without  limitation,
               all laws  concerning  unlawful  and unfair  labor and  employment
               practices)  and  (v)  for  employment  discrimination  under  any
               applicable federal, state or local statute,  provision,  order or
               regulation,  and including,  without limitation,  any claim under
               Title VII of the Civil  Rights  Act of 1964  ("Title  VII"),  the
               Civil  Rights Act of 1988,  the Fair  Labor  Standards  Act,  the
               Americans with Disabilities Act ("ADA"),  the Employee Retirement
               Income  Security  Act of  1974,  as  amended  ("ERISA"),  the Age
               Discrimination  in  Employment  Act  ("ADEA")  and any similar or
               analogous state statute, excepting only:

                    (A) the rights of  Employee  (i)  relating  to vested  stock
               options, if any,  (collectively,  the "Equity  Arrangements") and
               (ii) as a stockholder of the Company;

                    (B) the right of  Employee  to  receive  COBRA  continuation
               coverage in accordance with applicable law;

                    (C) rights to  indemnification  Employee  may have under (i)
               applicable  corporate  law,  (ii) the articles of  incorporation,
               charter or bylaws of any Company Released Party,  (iii) any other
               agreement  between Employee and a Company Released Party, or (iv)
               as an  insured  under  any  director's  and  officer's  liability
               insurance policy now or previously in force;

                    (D)  claims  for  benefits  under  any  health,  disability,
               retirement,  life  insurance or other similar  "employee  benefit
               plan"  (within  the  meaning  of  Section  3(3) of  ERISA) of the
               Company Affiliated Group (the "Company Benefit Plans");

                    (E) the rights of Employee under this Agreement.



                                       4

<PAGE>

               (b)Employee  acknowledges  and agrees  that the release of claims
               set forth in this  Section 7 is not to be construed in any way as
               an admission of any liability  whatsoever by any Company Released
               Party, any such liability being expressly denied.

               (c) The release of claims set forth in this  Section 7 applies to
               any relief no matter how called,  including,  without limitation,
               wages,  back pay,  front pay,  compensatory  damages,  liquidated
               damages, punitive damages, damages for pain or suffering,  costs,
               and attorney's fees and expenses.

               (d)Employee specifically  acknowledges that his acceptance of the
               terms of the  release of claims  set forth in this  Section 7 is,
               among other things,  a specific waiver of his rights,  claims and
               causes of action  under  Title  VII,  ADEA,  ADA and any state or
               local law or regulation in respect of discrimination of any kind.

               (e) Employee  shall have a period of 21 days to consider  whether
               to execute this  Agreement.  To the extent  Employee has executed
               this Agreement  within less than  twenty-one  (21) days after its
               delivery  to him,  the  Employee  hereby  acknowledges  that  his
               decision to execute this  Agreement  prior to the  expiration  of
               such  twenty-one  (21) day  period  was  entirely  voluntary.  If
               Employee accepts the terms hereof and executes this Agreement, he
               may  thereafter,  for a  period  of 7  days  following  (and  not
               including) the date of execution,  revoke this  Agreement.  If no
               such revocation  occurs,  this Agreement shall become irrevocable
               in its entirety, and binding and enforceable against Employee, on
               the day next  following the day on which the foregoing  seven-day
               period has elapsed.  Any  revocation of this  Agreement  shall be
               deemed for all  purposes a  revocation  of this  Agreement in its
               entirety.

               (f)  Employee  acknowledges  and  agrees  that he has  not,  with
               respect to any  transaction  or state of facts  existing prior to
               the date  hereof,  filed  any  complaints,  charges  or  lawsuits
               against any Company Released Party with any governmental  agency,
               court or tribunal.

               (g)In  addition to any other remedy  available  to the  Employers
               hereunder,  in the event that, as a result of a challenge brought
               by an Employee Released Party (as defined below),  the release of
               claims  set  forth  in  Section  7  becomes  null  and void or is
               otherwise  determined not to be enforceable,  then the Employers'
               obligation  to make any  additional  payments  or to provide  any
               additional  benefits this Agreement shall immediately cease to be
               of any force and effect,  and Employee shall  promptly  return to
               the  Employers any payments or benefits the provision of which by
               the  Employers  was  conditioned  on the  enforceability  of this
               Agreement.

           8.  Release of Claims by the Employers.

               (a) The Employers,  with the intention of binding  themselves and
               their subsidiaries,  affiliates,  predecessors and successors and
               their directors and officers (collectively, the



                                       5

<PAGE>

               "Releasing  Entities"),  do hereby  release,  remise,  acquit and
               forever  discharge  Employee  and his heirs,  estate,  executors,
               administrators and assigns (collectively,  the "Employee Released
               Parties"),  of and from any and all  claims,  actions,  causes of
               action,  complaints,  charges,  demands,  rights, damages, debts,
               sums of money, accounts, financial obligations,  suits, expenses,
               attorneys'  fees and  liabilities  of whatever  kind or nature in
               law, equity or otherwise, whether accrued, absolute,  contingent,
               unliquidated  or  otherwise  and  whether  now known or  unknown,
               suspected  or   unsuspected,   which  the   Employers  and  their
               subsidiaries,    affiliates,    predecessors    and   successors,
               individually or as a member of a class, now have, own or hold, or
               have at any time  heretofore  had,  owned or  held,  against  any
               Employee Released Party, excepting only:

                    (A) rights of the Releasing  Entities under this  Agreement,
               the Change in Control Agreement,  the Equity Arrangements and the
               Company Benefit Plans; and

                    (B) rights of the  Releasing  Entities  arising by reason of
               Employee  having  committed  a crime or an act or omission to act
               which constitutes  fraud,  willful misconduct or gross negligence
               (except gross  negligence shall not include an act or omission to
               act which was (i) in compliance  with Bank's written  policies in
               effect as of the time of the act or omission to act, (ii) entered
               into in accordance with customary practices of the Bank, or (iii)
               made in  connection  with a  purchase  by Bank  of  auction  rate
               securities  from Merrill  Lynch & Co.,  Inc.  during the time the
               Employee was employed by the Bank).

               (b) The Releasing Entities acknowledge and agree that the release
               of claims set forth in this  Section 8 is not to be  construed in
               any  way as an  admission  of  any  liability  whatsoever  by any
               Employee  Released  Party,  any such  liability  being  expressly
               denied.

               (c) The release of claims set forth in this  Section 8 applies to
               any relief no matter how called,  including,  without limitation,
               compensatory  damages,   liquidated  damages,  punitive  damages,
               damages for pain or suffering,  costs,  and  attorney's  fees and
               expenses.

               (d) Nothing herein shall be deemed,  nor does anything  contained
               herein purport,  to be a waiver of any right or claim or cause of
               action which by law the Employers are not permitted to waive.

               (e) The Employers  acknowledge and agree that they have not, with
               respect to any  transaction  or state of facts  existing prior to
               the date  hereof,  filed  any  complaints,  charges  or  lawsuits
               against any Employee Released Party with any governmental agency,
               court or tribunal.

           9.  Non-Competition. During the period the Employee is receiving cash
               severance  pursuant  to  Section  2(a)  of  this  Agreement,  the
               Employee shall not serve as an officer,  director,  consultant or
               employee of any bank holding company, bank, savings bank, savings
               and



                                       6

<PAGE>

               loan  holding  company,  or  mortgage  company  (any of which,  a
               "Financial   Institution")  which  Financial  Institution  offers
               products  or  services   competing  with  those  offered  by  the
               Employers or any of their  affiliates,  including Enfield Federal
               Savings  and Loan  Association,  from any office  within ten (10)
               miles from the main office or any branch of the  Employers or any
               of their  affiliates,  including Enfield Federal Savings and Loan
               Association, and shall not interfere with the relationship of the
               Employers or any of their  affiliates,  including Enfield Federal
               Savings and Loan Association,  and any of its employees,  agents,
               or representatives.

          10.  Termination  and Board  Membership.  To the extent  Employee is a
               member of the board of  directors  of the  Company or the Bank or
               any of  their  affiliates  on the Date of  Termination,  Employee
               shall be deemed to have  automatically  resigned  from all of the
               boards of directors  immediately  preceding  such  termination of
               employment  with  the  Company  or  the  Bank  or  any  of  their
               affiliates.

          11.  Representation.  The  Employers and the Employee  represent  that
               they have reviewed this Agreement, and that each of them is fully
               aware of the content of this  Agreement  and of its legal effect,
               and  acknowledge  that  this  is  a  legally  valid  and  binding
               obligation of the parties.

          12.  Withholding.  The Employers may make such provisions as they deem
               appropriate  for the  withholding  pursuant  to  federal or state
               income tax laws of such amounts as the Employers  determine  they
               are  required to withhold in  connection  with the payments to be
               made pursuant to this Agreement.

          13.  Amendment  and  Waiver.  The terms of this  Agreement  may not be
               modified other than in a writing  signed by the parties.  No term
               or  condition  of this  Agreement  shall be  deemed  to have been
               waived,  nor shall there be any estoppel  against  enforcement of
               any provision of this Agreement,  except by written instrument of
               the party  charged with such waiver or estoppel.  No such written
               waiver shall be deemed a continuing  waiver  unless  specifically
               stated therein, and each such waiver shall operate only as to the
               specific  term or condition for the future or as to any act other
               than that specifically waived.

          14.  Notices.  All notices,  demands,  consents or other communication
               required or permitted  hereunder shall be in writing and shall be
               deemed to have been given when: (i) personally delivered, or (ii)
               sent postage  prepaid by  registered  or certified  mail,  return
               receipt  requested,  such receipt  showing  delivery to have been
               made,  or  (iii)  sent  overnight  by  prepaid   receipt  courier
               addressed as follows:

                     If to the Employee:   Mark J. Blum
                                           At his last address on file with
                                           the Employer



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<PAGE>

                     If to the Employers:  Valley Bank
                                           855 Enfield Street
                                           Enfield, Connecticut 06082
                                           Attention: David J. O'Connor
                                           President and Chief Executive Officer

          15.  Entire   Agreement.   This  Agreement   incorporates  the  entire
               understanding  among the parties  relating to the subject  matter
               hereof, recites the sole consideration for the promises exchanged
               and supersedes any prior agreements between the Employers and the
               Employee with respect to the subject matter  hereof.  In reaching
               this Agreement,  no party has relied upon any  representation  or
               promise except those set forth herein.

          16.  Invalid Provisions: If any provision of this Agreement is held to
               be illegal, invalid or unenforceable under present or future laws
               effective during the term of this Agreement, such provision shall
               be fully  severable  and this  Agreement  shall be construed  and
               enforced as if such illegal,  invalid or unenforceable  provision
               had never comprised a part of this  Agreement,  and the remaining
               provisions  of this  Agreement  shall  remain  in full  force and
               effect  and shall not be  affected  by the  illegal,  invalid  or
               unenforceable provision or by its deletion from this Agreement.

          17.  Bind and Inure. This Agreement shall be binding upon and inure to
               the  benefit  of  the  Employee  and  the   Employers  and  their
               respective heirs and/or successors and permitted assigns.

          18.  Governing Law. This Agreement  shall be governed by and construed
               the  laws of the  State  of  Connecticut,  except  to the  extent
               preempted by the laws of the United States of America.



                                       8

<PAGE>


     IN WITNESS  WHEREOF,  the Bank has caused this  Agreement to be executed by
their  duly  authorized  representatives  and the  Employee  has  executed  this
Agreement, all as of the day and year first written above.



                                               VALLEY BANK


                                               By:    /s/ James J. Pryor
                                                      --------------------------
                                               Name:  James J. Pryor
                                               Title: Chairman

                                               EMPLOYEE

                                               By:   /s/ Mark. J. Blum
                                                     ---------------------------
                                                     Mark J. Blum




                                       9

<PAGE>


                                   Appendix A
                                   ----------

1) FAMILY MEDICAL INSURANCE COVERAGE -

                  EMPLOYEE PREMIUM: $383.04 PER MONTH

2) FAMILY DENTAL INSURANCE COVERAGE -

                  EMPLOYEE PREMIUM: $44.80 PER MONTH

3) LIFE INSURANCE COVERAGE (EXECUTIVE, SPOUSE & CHILDREN) -

                  EMPLOYEE PREMIUM: $0.00




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