Document:

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                                                                    EXHIBIT 10.5

                         BENJAMIN FRANKLIN BANCORP, INC.

                         DIRECTOR FEE CONTINUATION PLAN

      This Plan is adopted by Benjamin Franklin Bancorp, Inc. for the purpose of
recognizing and rewarding Directors for services and contributions to the
Benjamin Franklin Bank and to Benjamin Franklin Bancorp, Inc. Subject to the
terms of the Plan, Directors will receive a continuing benefit from the Holding
Company upon retirement or death.

PART 1. DEFINITIONS

      1.1. AGGREGATE ANNUAL FEES shall mean the total of all fees for services
as a Director paid by the Holding Company or the Bank to a Director during a
calendar year.

      1.2. AVERAGE FINAL ANNUAL FEES shall mean the average of the Aggregate
Annual Fees paid to a Director for the three calendar years preceding the year
of the Director's Retirement.

      1.3. BANK shall mean Benjamin Franklin Bank, a Massachusetts chartered
savings bank with its executive offices in Franklin, Massachusetts, and its
successors.

      1.4. BENEFICIARY shall mean the person(s) or trust designated by a
Participant to receive benefits pursuant to this Plan in the Event of such
Participant's death. If no Beneficiary is designated, the Beneficiary shall be
the Participant's surviving spouse, if living, otherwise the Participant's
estate shall be the Beneficiary.

      1.5. CHANGE IN CONTROL. A "Change in Control" shall be deemed to have
occurred in any of the following events:

            (a) If there has occurred a change in control which the Holding
      Company would be required to report in response to Item 5.01 of Form 8-K
      promulgated under the Securities Exchange Act of 1934, as amended (the
      "1934 Act"), or, if such regulation is no longer in effect, any
      regulations promulgated by the Securities and Exchange Commission pursuant
      to the 1934 Act which are intended to serve similar purposes;

            (b) When any "person" (as such term is used in Sections 13(d) and
      14(d)(2) of the 1934 Act) becomes a "beneficial owner" (as such term is
      defined in Rule 13d-3 promulgated under the 1934 Act), directly or
      indirectly, of securities of the Holding Company or the Bank representing
      twenty-five percent (25%) or more of the total number of votes that may be
      cast for the election of directors of the Holding Company or the Bank, as
      the case may be;

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            (c) During any period of two consecutive years, individuals who at
      the beginning of such period constitute the Board of Directors of the
      Holding Company, and any new director (other than a director designated by
      a person who has entered into an agreement with the Holding Company to
      effect a transaction described in Subsection (b), (d) or (e) of this
      Section 1.4) whose election by the Board or nomination for election by the
      Holding Company's stockholders was approved by a vote of at least
      two-thirds (2/3) of the directors then still in office who either were
      directors at the beginning of the period or whose election or nomination
      for election was previously so approved, cease for any reason to
      constitute at least a majority of the Board of Directors of the Holding
      Company;

            (d) The stockholders of the Holding Company approve a merger, share
      exchange or consolidation ("merger or consolidation") of the Holding
      Company with any other corporation, other than (a) a merger or
      consolidation which would result in the voting securities of the Holding
      Company outstanding immediately prior thereto continuing to represent
      (either by remaining outstanding or by being converted into voting
      securities of the surviving entity) more than 70% of the combined voting
      power of the voting securities of the Holding Company or such surviving
      entity outstanding immediately after such merger or consolidation or (b) a
      merger or consolidation effected to implement a recapitalization of the
      Holding Company (or similar transaction) in which no "person" (as
      hereinabove defined) acquires more than 30% of the combined voting power
      of the Holding Company's then outstanding securities; or

            (e) The stockholders of the Holding Company or the Bank approve a
      plan of complete liquidation of the Holding Company or the Bank or an
      agreement for the sale or disposition by the Holding Company or the Bank
      of all or substantially all of the Holding Company's or the Bank's assets.

      1.6. DIRECTOR(s) shall mean persons duly elected as a director of the Bank
or the Holding Company, and who are not compensated employees of the Bank or the
Holding Company.

      1.7. EFFECTIVE DATE of the Plan shall mean ______ __, 2005.

      1.8. HOLDING COMPANY shall mean Benjamin Franklin Bancorp, Inc.

      1.9. NORMAL PAYMENT DATE shall mean the later to occur of (a) the date
upon which the Director attains the Minimum Retirement Age and (b) the date on
which the Director ceases to serve as a Director.

      1.10. MINIMUM RETIREMENT AGE shall mean the date on which the Director
attains age seventy (70).

      1.11. NORMAL RETIREMENT BENEFIT shall consist of five equal annual
payments, each of which shall be equal in amount to the Director's Average Final
Annual Fees (determined as of the date of termination of service as a Director).

      1.12. PARTICIPANT shall mean a Director who has been duly elected as such,
meets the Eligibility requirements of the Plan, and has not waived participation
in the Plan.

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      1.13. PLAN shall mean the terms, conditions and benefits provided by this
document and any amendment or restatement of this document.

      1.14. RETIREMENT shall mean termination of services as a Director for any
reason other than death, disability or Specially-Defined Cause.

      1.15. SPECIALLY-DEFINED CAUSE shall mean the Director's deliberate
dishonesty with respect to any of the Bank, the Holding Company, or any
subsidiary or affiliate thereof, or conviction of a crime related to banking
activity.

      1.16. YEARS OF SERVICE shall mean the number of years a Participant has
served as a Director of the Bank or the Holding Company, whether before or after
the Effective Date of the Plan. Except as otherwise provided in Section 2.4,
Years of Service shall include service with a corporate predecessor of the Bank
or the Holding Company.

PART 2. ELIGIBILITY AND BENEFITS

      2.1. ELIGIBILITY. Any person who is a Director as of the Effective Date of
the Plan shall be eligible to participate in the Plan immediately. Any person
elected as a Director subsequent to the Effective Date of the Plan shall be
eligible to participate in the Plan as of the first day of the calendar month
next following the date of his election as a Director.

      2.2. NORMAL RETIREMENT BENEFIT. Upon Retirement, a Participant who has
either (i) completed fifteen (15) Years of Service as of the date of Retirement,
or (ii) completed at least ten (10) Years of Service and attained Minimum
Retirement Age as of the date of Retirement, shall be entitled to receive a
Normal Retirement Benefit. Payment of this benefit shall commence upon
termination of services.

      2.3. LESS THAN 15 YEARS OF SERVICE. Upon Retirement, a Participant who has
not either (i) completed at least 15 Years of Service as of the date of
Retirement, or (ii) completed ten (10) Years of Service and attained Minimum
Retirement Age as of the date of Retirement, shall receive (x) the Normal
Retirement Benefit multiplied by (y) a fraction of which the numerator shall be
the Director's total Years of Service and the denominator shall be fifteen (15).
Payment of this benefit shall commence upon termination of services.

      2.4. LESS THAN 3 YEARS OF SERVICE. Notwithstanding any other provision of
this Plan, a Participant who has not completed 3 Years of Service with the Bank
or the Holding Company as of the date of termination of service as a Director
shall not receive any benefit under this Plan. For purposes of this Section 2.4,
the measurement of Years of Service shall include service with the Bank or the
Holding Company prior to the Effective Date of the Plan but shall not include
service with a corporate predecessor of the Bank or the Holding Company,

      2.5. BENEFITS UPON CHANGE OF CONTROL. Subject to Section 2.4, if within
three years following a Change in Control, a Participant's service as a Director
is terminated by the Bank or the Holding Company other than for
Specially-Defined Cause, or if the Director is not proposed for re-election by
the nominating committee of the Bank or the Holding Company, the Participant
will be entitled to receive a Normal Retirement Benefit calculated as though the
Participant had completed fifteen Years of Service. Payment of this benefit
shall be made in a lump sum immediately upon termination of service.

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      2.6. DISABILITY. Subject to Section 2.4, in the event that a Participant
becomes disabled prior to the Minimum Retirement Age, the Participant will be
entitled to receive a Normal Retirement Benefit calculated as thought the
Participant had completed fifteen Years of Service. Payment of this benefit
shall commence upon termination of services, and shall be made annually. For
purposes of this provision, a Participant shall be considered to be "disabled"
when he is no longer capable of performing the material aspects of his
Director's duties as a result of physical and/or mental impairment. Such
determination shall be made by the Board of Directors.

      2.7. PRE-RETIREMENT DEATH. Subject to Section 2.4, if a Participant dies
while continuing to serve as a Director of the Bank or the Holding Company, the
Participant's Beneficiary shall be entitled to receive a Normal Retirement
Benefit, calculated as if the Participant had completed fifteen Years of
Service. Payment of this benefit shall commence upon the death of the Director
and shall be made annually.

      2.8. POST-RETIREMENT DEATH. If a Participant dies after Retirement, the
Participant's Beneficiary shall receive the remainder of any benefit payments to
which the Participant was entitled under Section 2.2 or 2.3 above, as
applicable. Payments shall be made annually.

      2.9. TERMINATION FOR SPECIALLY-DEFINED CAUSE. Notwithstanding any other
provision hereof, in the event a Participant's service as a Director is
terminated for Specially-Defined Cause, as defined herein, the Participant shall
not be entitled to any benefit under this Plan.

PART 3. ADDITIONAL PROVISIONS

      3.1. PLAN CONTINUATION. This Agreement shall bind the Directors and the
Holding Company, their heirs, successors, personal representatives, successors
and assigns.

      3.2. PLAN AMENDMENT OR TERMINATION. This Plan may be amended or terminated
by a two-thirds vote of all directors of the Holding Company, but any such
amendment or termination shall not affect or change rights or obligations
incurred up to the time of such amendment or termination.

      3.3. APPLICABLE LAW. This Plan shall be governed and construed in
accordance with the laws of the Commonwealth of Massachusetts.

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      IN WITNESS THEREOF, the Holding Company has caused this plan to be
executed by its duly authorized officer effective as of the Effective Date.

                                         BENJAMIN FRANKLIN BANCORP, INC.

                                         By: ___________________________________

                                         Date: _________________________________

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                                                                    EXHIBIT 10.6

                         BENJAMIN FRANKLIN BANCORP, INC.

                    EMPLOYEE SALARY CONTINUATION BENEFIT PLAN

      References to the "Company" in this document shall mean Benjamin Franklin
Bancorp, Inc. and any of its wholly owned direct and indirect subsidiaries,
including, without limitation, Benjamin Franklin Bank as well as the successors
in interest of each such entity. References to the "Bank" shall mean either
Benjamin Franklin Bank or any other bank that is a wholly owned subsidiary of
Benjamin Franklin Bancorp, Inc. or any successor in interest.

1.    COVERED EMPLOYEES

      Subject to Section 2 below, the Salary Continuation Benefit (as herein
      defined) will be provided to any employee whose employment is terminated
      within twelve months after a Change in Control (as herein defined).

2.    LIMITATIONS ON CHANGE IN CONTROL BENEFITS

      2.1.  GENERAL. No employee will be eligible for a Salary Continuation
            Benefit if (a) the employee's employment is terminated for "Cause",
            (b) the employee is a temporary employee, (c) the employee is
            offered a Comparable Position (as herein defined) within the Company
            and refuses to accept such position; or (d) the employee is paid
            solely on a commissioned basis ("Commissioned Employees").
            Commissioned Employees shall be eligible for a Commissioned Employee
            Benefit (as herein defined).

      2.2.  CAUSE. The term "Cause" shall mean and include (a) neglect of or
            refusal to perform, other than as a result of sickness, accident or
            similar cause beyond an employee's reasonable control, any duty or
            responsibility as an employee of the Company after written notice by
            the Company to the employee; (b) any material breach by the employee
            of any agreement to which the employee and the Company are both
            parties; (c) deliberate dishonesty with respect to the Company or
            conviction for the commission of a felony ; or (d) any material
            misconduct or material neglect of duties by the employee in
            connection with the business or affairs of the Company. The
            foregoing definition of Cause is in no way intended to limit or
            qualify the right of the Company or any successor in interest to
            terminate any person's employment for any reason.

      2.3.  COMPARABLE POSITION. A comparable position shall mean a position
            which is offered to an employee where (a) there is no reduction in
            base salary or scheduled hours, and (b) the employee will be
            principally employed at a location not more than 25 miles from the
            office where the employee is principally employed immediately prior
            to the Change in Control and (c) the

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            employee's commute does not increase by more than 20 miles.

3.    DEFINITION OF "CHANGE IN CONTROL"

      A "Change in Control" will be deemed to have occurred:

      3.1.  If there has occurred a change in control which the Company would be
            required to report in response to Item 5.01 of Form 8-K promulgated
            under the Securities Exchange Act of 1934, as amended (the "1934
            Act"), or, if such regulation is no longer in effect, any
            regulations promulgated by the Securities and Exchange Commission
            pursuant to the 1934 Act which are intended to serve similar
            purposes;

      3.2.  When any "person" (as such term is used in Sections 13(d) and
            14(d)(2) of the 1934 Act) becomes a "beneficial owner" (as such term
            is defined in Rule 13d-3 promulgated under the 1934 Act), directly
            or indirectly, of securities of the Company or the Bank representing
            twenty-five percent (25%) or more of the total number of votes that
            may be cast for the election of directors of the Company or the
            Bank, as the case may be;

      3.3.  During any period of two consecutive years, individuals who at the
            beginning of such period constitute the Board of Directors of the
            Company, and any new director (other than a director designated by a
            person who has entered into an agreement with the Company to effect
            a transaction described in Section 3.2, 3.4 or 3.5 of this
            Agreement) whose election by the Board or nomination for election by
            the Company's stockholders was approved by a vote of at least
            two-thirds (2/3) of the directors then still in office who either
            were directors at the beginning of the period or whose election or
            nomination for election was previously so approved, cease for any
            reason to constitute at least a majority of the Board of Directors
            of the Company;

      3.4.  The stockholders of the Company approve a merger, share exchange or
            consolidation ("merger or consolidation") of the Company with any
            other corporation, other than (a) a merger or consolidation which
            would result in the voting securities of the Company outstanding
            immediately prior thereto continuing to represent (either by
            remaining outstanding or by being converted into voting securities
            of the surviving entity) more than 50% of the combined voting power
            of the voting securities of the Company or such surviving entity
            outstanding immediately after such merger or consolidation or (b) a
            merger or consolidation effected to implement a recapitalization of
            the Company (or similar transaction) in which no "person" (as
            hereinabove defined) acquires more than 30% of the combined voting
            power of the Company's then outstanding securities; or

      3.5.  The stockholders of the Company or the Bank approve a plan of
            complete liquidation of the Company or the Bank or an agreement for
            the sale or disposition by the Company or the Bank of all or
            substantially all of the

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            Company's or the Bank's assets.

4.    "SALARY CONTINUATION BENEFIT" DEFINED

      The Salary Continuation Benefit hereunder shall include each of the
      following three items:

      4.1.  Payment in one lump sum as of date of termination of employment of a
            severance benefit equal to the greater of (i) two weeks salary, at
            the then applicable Base Salary rate, for each year or partial year
            of service, up to a maximum of 52 weeks salary, or (ii) the
            applicable Minimum Benefit set forth in Section 6 below; and

      4.2.  Continuation of group medical, dental and life insurance under the
            same terms and conditions as if the employee had remained actively
            employed by the Company for the "Benefit Continuation Period," which
            is the greater of (a) six months or (b) the number of weeks of
            Salary Continuation Benefits to which the employee is entitled under
            this Plan; and

      4.3.  After the end of the Benefit Continuation Period, COBRA benefits for
            medical and dental insurance determined as though employment had
            terminated at the end of such Benefit Continuation Period.

      For purpose of this Section 4 and Section 6 below, "Base Salary" shall
      mean:

            (a)   for salaried employees, the employee's annual base salary, but
                  shall not include bonus payments, 401(k) matching payments,
                  pension payments, or other payments not specifically included
                  under this Plan.

            (b)   for employees who receive commissions but who also receive a
                  base salary (but excluding those Commissioned Employees who
                  receive a "draw" as base salary), the employee's annual base
                  salary, but shall not include bonus payments, 401(k) matching
                  payments, pension payments, or other payments not specifically
                  included under this Plan.

            (c)   for hourly employees, the employee's total hourly wages for
                  the twelve (12) full calendar months preceding termination of
                  employment, but shall not include bonus payments, 401(k)
                  matching payments, pension payments, or other payments not
                  specifically included under this Plan.

5.    COMMISSIONED EMPLOYEE BENEFIT

      The benefit to Commissioned Employees hereunder shall include each of the
      following two items:

      5.1.  Continuation of group medical, dental and life insurance under the
            same terms and conditions as if the employee had remained actively
            employed by the Company for a period of six months; and

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      5.2.  After the end such six month period, COBRA benefits for medical and
            dental insurance determined as though employment had terminated at
            the end of such six month period.

6.    MINIMUM BENEFIT

      6.1.  Officers at the level of Senior Vice President and above shall
            receive 52 weeks salary, at the then applicable Base Salary rate;
            and

      6.2.  Officers at the level of Vice President but below the level of
            Senior Vice President shall receive 39 weeks salary, at the then
            applicable Base Salary rate; and

      6.3.  Officers at the level of Assistant Vice President but below the
            level of Vice President shall receive at least 26 weeks salary, at
            the then applicable Base Salary rate; and

      6.4.  All other exempt employees shall receive at least 13 weeks salary,
            at the then applicable Base Salary rate; and

      6.5.  All other full-time employees shall receive at least 8 weeks salary,
            at the then applicable Base Salary rate; and

      6.6.  All part-time employees shall receive at least 6 weeks salary or
            wages, at the then applicable Base Salary rate.

7.    OFFSET FOR AMOUNTS RECEIVED UNDER OTHER AGREEMENTS OR LAWS

      Salary Continuation Benefits payable pursuant to this Plan shall be
      reduced by the amount of any severance pay benefits payable to any officer
      under any employment, special termination, or change in control contract
      or to any employee under any "tin parachute", WARN or similar law.

8.    WITHHOLDING

      All payments will be subject to withholding for taxes and co-payments by
      employees, for health, life insurance and dental benefits. The Company
      will have the right to withhold for lump sum amounts otherwise payable the
      aggregate amount of any co-payments required to be made by employees with
      respect to employee benefit programs which are continued under the Salary
      Continuation Plan.

9.    PARACHUTE PAYMENT

      In the event that any amounts otherwise payable exceed in the aggregate
      the amount that may be deducted by the Company or by any successor in
      interest by reason of the operation of Section 280G of the Internal
      Revenue Code of 1986, as amended, the amount of such payments shall be
      reduced to the maximum which can be deducted by the Company.

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10.   OUTPLACEMENT SERVICES

      The following outplacement services shall be made available to employees
      whose employment is terminated:

      10.1. All exempt and non-exempt emplloyees: Group workshops providing
            resume writing guidance and job search assistance for a period of
            three months following termination of employment.

      10.2. Officers at the level of Assistant Vice President and above : Resume
            writing guidance, job search assistance, interview skills workshops
            and networking workshops, for a period of three months following
            termination of employment.

      10.3. Officers at the level of Senior Vice President and above: Resume
            writing guidance, job search assistance, interview skills workshops
            and networking workshops, for a period of six months following
            termination of employment.

11.   OTHER BENEFIT PLANS

      Salary Continuation Benefits are not covered compensation for benefit plan
purposes. An employee shall not accrue any vacation, sick leave, bonus,
incentive compensation, retirement or other benefits by reason of receiving
Salary Continuation Benefits.

12.   DOCUMENTATION TO BE EXECUTED

      12.1. Notwithstanding any other provision of this Salary Continuation
            Plan, no person shall be eligible to receive any benefits or
            payments under this Plan unless he or she shall have, as a
            precondition to eligibility for and receipt of such benefits or
            payments, executed and delivered to the Company (before the deadline
            described in Section 12.2) all documentation that the Company may
            require (collectively, "Required Documentation"). Among other
            matters, the Required Documentation shall include a release of all
            claims and a non-disparagement agreement in such form as shall be
            acceptable to the Company in its discretion.

      12.2. All Required Documentation must be completed and delivered to the
            Company no later than the date that is [TWO MONTHS] after such
            Required Documentation shall first have been presented to the
            employee for his or her signature.

13.   PLAN AMENDMENT AND TERMINATION

      The Company may at any time, in its sole and absolute discretion, amend or
terminate the Plan in whole or in part; provided, however, that no amendment or
termination shall be made by the Company on or after a Change in Control. Any
employee who is terminated after an amendment or termination of the Plan shall
have the right to receive only such benefits, if any, as are provided after such
amendment of

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termination.

14.   EFFECTIVE DATE

            The Effective Date of this Plan shall be as of _________, 2005.

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