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                                                                   EXHIBIT 10.27

                              EMPLOYMENT AGREEMENT

AGREEMENT by and between Barnstable Water Company, a Connecticut corporation
with its principal office and place of business in Hyannis, Massachusetts (the
"Company"), Connecticut Water Service, Inc., a Connecticut corporation and
holder of all of the outstanding capital stock of the Company (the "Parent") and
George Wadsworth, a resident of ________ (Mr. Wadsworth or the "Employee"),
dated as of ________.

WHEREAS, the Company and the Parent have determined that it is in the best
interests of the Company and the Parent to employ Mr. Wadsworth and the Employee
desires to serve in that capacity or in such other capacity as may be reasonably
assigned to him by the Company and the Parent;

NOW, THEREFORE, IT IS HEREBY AGREED AS FOLLOWS:

1.       Employment Period.

         a.       The Company shall employ the Employee, and the Employee shall
                  serve the Company, on the terms and conditions set forth in
                  this Agreement, for the period commencing on or before
                  _________________ and ending on the fifth anniversary of such
                  commencement date (the "Employment Period"). Unless the
                  Employment Period is extended by a written agreement of the
                  Company and the Employee, the Employee shall be deemed an
                  employee-at-will, which means that Mr. Wadsworth or the
                  Company may terminate his employment provided, however, that
                  nothing herein shall release the Company or the Parent of any
                  obligation under Section 7.12 (b) of the Merger Agreement
                  between the Company and the Parent dated as of ______________.
                  No agreement to extend the Employment Period shall be valid
                  unless it is in writing and signed by an Authorized Senior
                  Officer. For purposes of this Agreement, the term "Authorized
                  Senior Officer" shall mean the Chief Executive Officer or a
                  Vice President of the Parent.

         b.       If the Company and the Parent determine not to extend the
                  Employment Period beyond the initial five (5) year term, the
                  Company or the Parent shall so notify the Employee in writing
                  not less than six (6) months prior to the expiration of the
                  initial term.

2.       Position and Duties.

         a.       During the Employment Period, the Employee shall serve as
                  President of the Company. He shall report to the President of
                  the Parent while responsible to the designated senior officers
                  of the Parent in the major functional areas. The Employee
                  shall have authority, duties and responsibilities pertaining
                  to the water system operations and maintenance as are
                  reasonably assigned by the Company.

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         b.       During the Employment Period and any subsequent period when
                  the Employee is employed by the Company, and excluding any
                  periods of vacation and sick leave to which the Employee is
                  entitled, the Employee shall devote reasonable attention and
                  time during normal business hours to the business and affairs
                  of the Company and, to the extent necessary to discharge the
                  responsibilities assigned to the Employee under this
                  Agreement, use the Employee's reasonable best efforts to carry
                  out such responsibilities faithfully and efficiently. It shall
                  not be considered a violation of the foregoing for the
                  Employee to serve on corporate, civic or charitable boards or
                  committees so long as such activities do not involve a
                  conflict of interest with the Company or the Parent or other
                  "Affiliated Companies" (as hereinafter defined) or interfere
                  with the performance of the Employee's responsibilities as an
                  employee of the Company in accordance with this Agreement. For
                  purposes of this Agreement, "Affiliated Companies" means the
                  Parent and all companies controlled by, controlling or under
                  common control with the Parent.

3.       Compensation.

         a.       Base Salary. During the Employment Period, the Employee shall
                  initially receive an annual base salary ("Annual Base Salary")
                  equal to $84,113, to be earned and paid at a biweekly rate of
                  $__________. Effective January 1, 2001 the Employee's annual
                  base salary shall be $91,777. Commencing on January 1, 2002
                  and annually thereafter the Employee shall be eligible for
                  compensation reviews based on performance appraisals in
                  accordance with the Wage and Salary Administration program of
                  the Parent.

         b.       Other Benefits. During the Employment Period and any
                  subsequent period when the Employee is employed by the Company
                  or any of its other Affiliated Companies: (i) the Employee
                  shall be entitled to participate in all deferred compensation,
                  savings and retirement plans, policies and programs of the
                  Company in accordance with the plans, programs and policies of
                  Barnstable Water Company ("Barnstable") set forth, from time
                  to time, in such plans or any Barnstable employee manual; and
                  (ii) the Employee and/or the Employee's family, as the case
                  may be, shall be eligible for participation in, and shall
                  receive all benefits under, all welfare benefit plans,
                  policies and programs provided by the Company in accordance
                  with the plans, programs and policies of Barnstable set forth,
                  from time to time, in such plans or any Barnstable employee
                  manual; (iii) the Employee shall be approved to attend the
                  NAWC Annual Conferences and be eligible for reimbursement for
                  associated approved expenses in accordance with the policies
                  of the Parent during the Employment Period; and (iv) the
                  Company provides that the Employee will report to the present
                  office

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                  location in Hyannis unless Employee and Employer mutually
                  agree that the Employee shall report to a different location.

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         c.       Expenses. During the Employment Period and any subsequent
                  period when the Employee is employed by the Company, the
                  Employee shall be entitled to receive prompt reimbursement for
                  all reasonable authorized travel and other authorized expenses
                  incurred by the Employee in carrying out the Employee's duties
                  under this Agreement in accordance with the policies and
                  procedures established by the Company.

         d.       Fringe Benefits. During the Employment Period and any
                  subsequent period when the Employee is employed by the
                  Company, the Employee shall be entitled to fringe benefits in
                  accordance with the plans, programs and policies of Barnstable
                  set forth, from time to time, in such plans or any Barnstable
                  employee manual.

         e.       Vacation and Sick Time. During the Employment Period and any
                  subsequent period when the Employee is employed by the
                  Company, the Employee shall be entitled to paid vacation and
                  accrue sick time annually in accordance with the plans,
                  policies, and programs of Barnstable as set forth, from time
                  to time, in such plans or any Barnstable employee manual. The
                  Employee shall carry over a balance of 120 days of sick time
                  and no vacation time at the start of the Employment Period.

4.       Termination of Employment.

         a.       Death or Disability. The Employee's employment shall terminate
                  automatically upon the Employee's death. The Company shall be
                  entitled to terminate the Employee's employment because of the
                  Employee's Disability during the Employment Period.
                  "Disability" means that the Employee has been unable, with or
                  without accommodation, for a period of 180 consecutive
                  business days, to perform the Employee's duties under this
                  Agreement, as a result of physical or mental illness or
                  injury. A termination of the Employee's employment by the
                  Company for Disability shall be communicated to the Employee
                  by written notice, and shall be effective on the 30th day
                  after receipt of such notice by the Employee (the "Disability
                  Effective Date"), unless the Employee returns to full-time
                  performance of the Employee's duties before the Disability
                  Effective Date.

         b.       By the Company. The Company may terminate the Employee's
                  employment for Cause. "Cause" means: (i) the Employee's
                  failure to perform the duties of his employment in any
                  material respect after notice from the Company and failure to
                  cure within ten business days after delivery of such notice,
                  (ii) malfeasance or gross negligence in the performance of the
                  Employee's duties of employment, (iii) the Employee's
                  commission of a felony under the laws of the United States or
                  any state thereof (whether or not in connection with his
                  employment), (iv) the commission by the Employee of a fraud
                  upon the Company or any of the other Affiliated Companies, (v)
                  willful misconduct on the part of the Employee, (vi) the
                  Employee's breach of any of the provisions of Paragraph 8 of
                  this Agreement,

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                  or (vii) any other act or omission by the Employee (other than
                  an act or omission resulting from the exercise by the Employee
                  of good faith business judgment) which is materially injurious
                  to the financial condition or the business reputation of the
                  Company or any of the Affiliated Companies.

         c.       By the Employee. A termination of the Employee's employment by
                  the Employee shall be effected by giving the Company written
                  notice of the termination.

         d.       No Waiver. The failure to set forth any fact or circumstance
                  in a Notice of Termination for Cause or a Notice of
                  Termination for Good Reason shall not constitute a waiver of
                  the right to assert, and shall not preclude the party giving
                  notice from asserting, such fact or circumstance in an attempt
                  to enforce any right under or provision of this Agreement.

         e.       Date of Termination. The "Date of Termination" means the date
                  of the Employee's death, the Disability Effective Date, the
                  date on which the termination of the Employee's employment by
                  the Company for Cause is effective, or the date that is 60
                  days after the date on which the Employee gives the Company
                  notice of a termination of employment, as the case may be.

5.       Obligations of the Company upon Termination.

         a.       Other Than for Cause or Death. If, during the Employment
                  Period, the Company terminates the Employee's employment,
                  other than for Cause or death, the Company shall pay the
                  amounts described in subparagraph (i) below to the Employee in
                  a lump sum in cash within 30 days after the Date of
                  Termination or at the employee's option in a manner described
                  in paragraph 3(a), reduced by any payment to the employee due
                  to disability coverage in 3(b), through the remainder of the
                  Employment Period. The payments provided pursuant to this
                  subparagraph (a) of Section 5 are intended as either or both
                  severance pay or liquidated damages for a termination of the
                  Employee's employment by the Company other than for Cause or
                  death and shall be the sole and exclusive remedy therefor.

                  i.) The amounts to be paid in a lump sum as described above
                      are:

                  A.      The Employee's accrued but unpaid cash compensation
                          (the "Accrued Obligations"), which shall equal the sum
                          of (1) any portion of the Employee's Annual Base
                          Salary through the Date of Termination that has not
                          yet been paid; (2) any compensation previously
                          deferred by the Employee (together with any accrued
                          interest or earnings thereon) that has not yet been
                          paid; and (3) any accrued but unpaid vacation pay.

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                        B.  Severance pay in an amount equal to the Employee's
                             annual Base Salary for the period, if any, from the
                             Date of Termination to the end of the Employment
                             Period set forth in Section 1 hereof.

                  (ii) For the period, if any, from the Date of Termination to
                       the end of the Employment Period set forth in Section 1
                       hereof, the Employee shall continue to be entitled to
                       participate in such employee welfare benefit plans,
                       within the meaning of Section 3(1) of the Employee
                       Retirement Income Security Act of 1974, as amended,
                       maintained by the Company in which the Employee shall be
                       a participant on the Date of Termination, subject to the
                       terms and conditions of such employee welfare benefit
                       plans as may be in effect from time to time during such
                       period under this Agreement, with benefits based upon
                       compensation equal to the Employee's Annual Base Salary.
                       To the extent that such benefits shall not be payable or
                       provided under any such employee welfare benefit plan,
                       the Company shall pay or provide such benefits on an
                       individual basis. Any medical, dental, health or other
                       employee welfare benefits provided for hereunder shall be
                       secondary to any comparable benefits provided by another
                       employer.

         b.       Cause; Other than for Good Reason or Death. If the Employee's
                  employment is terminated by the Company for Cause during the
                  Employment Period, or for any reason after the Employment
                  Period, or if the Employee voluntarily terminates employment,
                  the Company shall pay the Employee the Annual Base Salary
                  through the Date of Termination and the amount of any
                  compensation previously deferred by the Employee (together
                  with any accrued interest or earnings thereon), in each case
                  to the extent not yet paid, and the Company shall have no
                  further obligations under this Agreement.

         c.       By Reason of Death. If the Employee's employment is terminated
                  by reason of the Employee's death at any time, this Agreement
                  shall terminate without further obligations to the Employee's
                  legal representatives under this Agreement, other than for
                  payment of the Accrued Obligations in accordance with the
                  plans, practices, programs and policies of Barnstable set
                  forth, from time to time, in such plans or any Barnstable
                  employee manual.

6.       Obligations of the Employee Upon Termination. The compensation due the
         Employee pursuant to Section 5 of this Agreement shall be reduced by
         any unpaid balance due to the Company from any outstanding employee
         loan(s) issued by Barnstable Water Company.

7.       Non-exclusivity of Rights. Nothing in this Agreement shall prevent or
         limit the Employee's future participation in any plan, program, policy
         or practice provided by the Company or any of the other Affiliated
         Companies for which the Employee may qualify, nor shall anything in
         this Agreement limit or otherwise affect such rights as the Employee
         may have under any contract or agreement with the Company or any of the
         other Affiliated Companies. Vested benefits and other amounts that the
         Employee is otherwise entitled to receive under any plan, policy or
         program of, or any contract or agreement with, the Company or any of
         the other Affiliated

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         Companies on or after the Date of Termination shall be payable in
         accordance with such plan, policy, program, contract or agreement, as
         the case may be, except as otherwise explicitly modified by this
         Agreement.

8.       Full Settlement. In no event shall the Employee be obligated to seek
         other employment or take any other action by way of mitigation of the
         amounts payable to the Employee under any of the provisions of this
         Agreement, but if the Employee secures other employment, any employee
         welfare benefits the Company is required to provide to the Employee
         following termination of the Employee's employment shall be secondary
         to those provided by another employer (if any).

9.       Confidential Information. The Employee understands that in the course
         of the Employee's employment by the Company, the Employee will receive
         or have access to confidential information concerning the business or
         purposes of the Company and any of the other Affiliated Companies and
         which the Company or any of the other Affiliated Companies desire to
         protect. Such confidential information shall be deemed to include, but
         not be limited to, the Company's customer lists and information, and
         employee lists, including, if known, personnel information and data.
         The Employee agrees that the Employee will not, at any time during the
         period ending two years after the Date of Termination, reveal to anyone
         outside the Company or any of the other Affiliated Companies or use for
         the Employee's own benefit any such information without specific
         written authorization by the Company or the Parent

10.      Insurance. The Company shall have the right at its own cost and expense
         to apply for and to secure in its own name, or otherwise, life, health
         or accident insurance or any or all of them covering the Employee, and
         the Employee agrees to submit to the usual and customary medical
         examination and otherwise to cooperate with the Company in connection
         with the procurement of any such insurance, and any claims thereunder.

11.      Release. As a condition of eligibility for severance payments or
         benefits provided for in Paragraph 5(a) of this Agreement, at the
         request of the Company or the Parent, the Employee shall execute and
         deliver for the benefit of the Company and the Parent, and any of the
         Affiliated Companies, a general release in the form set forth in
         Attachment A, and such release shall become effective in accordance
         with its terms the failure or refusal of the Employee to sign such a
         release or the revocation of such a release shall cause the termination
         of any and all obligations of the Company and the Parent to make
         payments or provide benefits hereunder, and the forfeiture of the right
         of the Employee to receive any such payments and benefits. The Employee
         acknowledges that the Company and the Parent have advised the Employee
         to consult with an attorney prior to signing this Agreement and that
         the Employee has had an opportunity to do so.

12.      Regulatory Limitation. Notwithstanding any other provision of this
         Agreement, the Company shall not be obligated to make, and the Employee
         shall have no right to receive, any payment, benefit or amount under
         this Agreement which would violate any law, regulation or regulatory
         order applicable to the Company, CWC or the Parent at the time such
         payment, benefit or amount is due ("Prohibited Payment"). If and to the
         extent the Company shall at a later date be relieved of the restriction
         on its ability to make any Prohibited Payment, then at such time the
         Company, CWC or the Parent shall promptly make payment of any such
         amounts to the

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         Employee. The parties hereto acknowledge that as of the date of this
         Agreement, no payment, benefit or amount payable under this Agreement
         would be a Prohibited Payment.

13.      Notices. All notices under this Agreement shall be in writing and shall
         be deemed effective when delivered in person to the Employee or to the
         Secretary of the Company and the Parent, or if mailed, postage prepaid,
         registered or certified mail, addressed, in the case of the Employee,
         to the Employee's last known address as carried on the personnel
         records of the Company, and, in the case of the Company and the Parent,
         to the corporate headquarters, attention of the Secretary, or to such
         other address as the party to be notified may specify by notice to the
         other party.

14.      Successors and Assigns.

         a.       Assignment by Employee. This Agreement is personal to the
                  Employee and shall not be assignable by the Employee.

         b.       Assignment by the Company. This Agreement shall inure to the
                  benefit of and be binding upon the Company and the other
                  Affiliated Companies and their respective successors and
                  assigns. As used in this Agreement, the "Company" and the
                  other Affiliated Companies shall mean both the Company and the
                  other Affiliated Companies, respectively, and any such
                  successor that assumes and agrees to perform this Agreement,
                  by operation of law or otherwise.

15.      Arbitration. Any dispute which may arise between the parties hereto
         may, if both parties agree, be submitted to binding arbitration in the
         State of Connecticut in accordance with the Rules of the American
         Arbitration Association; provided that any such dispute shall first be
         submitted to the Company's Board of Directors in an effort to resolve
         such dispute without resort to arbitration.

16.      Severability. If any of the terms or conditions of this Agreement shall
         be declared void or unenforceable by any court or administrative body
         of competent jurisdiction, such term or condition shall be deemed
         severable from the remainder of this Agreement, and the other terms and
         conditions of this Agreement shall continue to be valid and
         enforceable.

17.      Amendment. This Agreement may be modified or amended only by an
         instrument in writing executed by the parties hereto.

18.      Construction. This Agreement shall supersede and replace all prior
         agreements and understandings between the parties hereto on the subject
         matter covered hereby. This Agreement shall be governed and construed
         under the laws of the State of Connecticut. Words of the masculine
         gender mean and include correlative words of the feminine gender.
         Paragraph headings are for convenience only and shall not be considered
         a part of the terms and provisions of the Agreement.

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IN WITNESS WHEREOF, the Company and the Parent have caused this Agreement to be
executed by a duly authorized officer, and the Employee has hereunto set the
Employee's hand, this ____ day of _________________, 2000.

                          THE BARNSTABLE WATER COMPANY

                                   By: ________________________________________
                                          George Wadsworth, President

                                   CONNECTICUT WATER SERVICE, INC.

                                   By__________________________________________
                                     Marshall T. Chiaraluce, President and CEO

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                                                                    ATTACHMENT A

                                    RELEASE

We advise you to consult an attorney before you sign this Release. You have
until the date which is seven (7) days after the Release is signed and returned
to the Water Company ("the Company") to change your mind and revoke your
Release. Your Release shall not become effective or enforceable until after that
date.

In consideration for the severance benefits and payments provided under your
Employment Agreement dated _________________________ with the Company and
Connecticut Water Service, Inc. ("the Parent"), and more specifically enumerated
in Exhibit 1 hereto, by your signature below you agree to accept such benefits
and not to make any claims of any kind against the Company, its past and present
and future Parent corporations, subsidiaries, divisions, subdivisions,
affiliates and related companies or their successors and assigns, including
without limitation the Parent, or any and all past, present and future
Directors, officers, fiduciaries or employees of any of the foregoing (all
parties referred to in the foregoing are hereinafter referred to as the
"Releasees") before any agency, court or other forum, and you agree to release
the Releasees from all claims, known or unknown, arising in any way from any
actions taken by the Releasees up to the date of this Release, including,
without limiting the foregoing, any claim for wrongful discharge or breach of
contract or any claims arising under the Age Discrimination in Employment Act of
1967, Title VII of the Civil Rights Act of 1964, the Americans with Disabilities
Act of 1990, the Employee Retirement Income Security Act of 1974, Connecticut's
Fair Employment Practices Act or any other federal, state or local statute or
regulation and any claim for attorneys' fees, expenses or costs of litigation.

THE PRECEDING PARAGRAPH MEANS THAT BY SIGNING THIS RELEASE YOU WILL HAVE WAIVED
ANY RIGHT YOU MAY HAVE TO BRING A LAWSUIT OR MAKE ANY LEGAL CLAIM AGAINST THE
RELEASEES BASED ON ANY ACTIONS TAKEN BY THE RELEASEES UP TO THE DATE OF THIS
RELEASE.

By signing this Release, you further agree as follows:

1.)   You have read this Release carefully and fully understand its
      terms;

2.)   You have had at least twenty-one (21) days to consider the terms
      of the Release;

3.)   You have seven (7) days from the date you sign this Release to
      revoke it by written notification to the Company.  After this
      seven-(7) day period, this Release is final and binding and may
      not be revoked;

4.)   You have been advised to seek legal counsel and have had an
      opportunity to do so;

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5.)   You would not otherwise be entitled to the severance benefits provided
      under your Employment Agreement with the Company and the Parent had you
      not agreed to waive any right you have to bring a lawsuit or legal claim
      against the Releasees; and

6.)   Your agreement to the terms set forth above is voluntary.

By signing this release, you do not agree to release the Company from future
performances of its obligations to pay or provide severance benefits in
accordance with your Employment Agreement and any failure to pay or provide such
benefit will void this release.

Name: _________________________________

Signature: _____________________________      Date:________________

Received by: ___________________________      Date:________________

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EXHIBIT 10.1 TO FORM 8K

TFC ENTERPRISES, INC.                                    CONTACT:  CRAIG POPPEN
NEWS RELEASE                                                       757-858-4054

*FOR IMMEDIATE RELEASE*

TFCE's PRINCIPAL LENDER ANNOUNCES PLAN TO EXIT AUTOMOBILE FINANCE MARKET

NORFOLK, VA, December 5, 2000 /PRNewswire/ -- TFC Enterprises, Inc. (the
Company) (NASDAQ: TFCE) today announced that its wholly owned subsidiary, THE
Finance Company (TFC), extended the term of its revolving credit facility with
its principal lender through March 31, 2001.  TFC and its principal lender are
currently negotiating an extension beyond this date. TFC's principal lender
recently announced that it would no longer participate in the business of
financing automobiles or automobile finance companies however; it has assured
the Company that it will work with its customers, including the Company, to
smoothly transition their facilities.

In conjunction with the Company's previously stated plan to diversify its
funding, the Company has been and is currently in discussions with several
lenders.  These discussions include revolving credit facilities, warehouse
facilities and a continuation of the securitization program.  The Company's
proven ability to comply with the terms and covenants of its various credit
facilities, its profitability in each of the last 11 consecutive quarters and
the successful completion of two securitizations totaling $146 million during
the last 12 months cause management to believe it should be able to diversify
its funding.

In additional to historical information, this press release and statements by
the Company's management team may contain forward-looking statements that are
subject to risks and uncertainties that could cause the Company's results to
differ materially from those anticipated in forward-looking statements.  Readers
are cautioned not to place undue reliance on forward-looking statements, which
reflect management's current analysis.  In accordance with the Private
Securities Litigation Reform Act of 1995, the following are factors that could
cause the Company's actual results to differ materially from those expressed or
implied by such forward-looking statements: failure to obtain credit facilities
to replace the Company's current principal lender, a rise in interest rates, a
deterioration of credit experience, competitive pricing and other factors, the
loss of or reduction in its credit facilities, or if the Company were to face
increased competition.  Investors are encouraged to review TFC Enterprise's SEC
filings for more information about the factors affecting the Company's business.

TFC Enterprises, Inc., conducts its operations through four wholly-owned
subsidiaries:  THE Finance Company, specializes in purchasing and servicing
installment sales contracts originated by automobile and motorcycle dealers;
First Community Finance, Inc., is involved in the direct origination and
servicing of consumer loans;  and Recoveries, Inc., a third party debt
collection agency, services foreclosed or troubled loan portfolios and
receivables for medical organizations and others.  Based in Norfolk, VA, TFC
Enterprises, Inc., has ten contract production offices of THE Finance Company
throughout the United States and twenty-one offices of First Community Finance
in Virginia and North Carolina. The Company's common stock symbol is listed on
Nasdaq National Market and trades under the symbol "TFCE".

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