Document:

Exhibit 10.41

                      THE FIRST NATIONAL BANK OF LITCHFIELD
                      -------------------------------------
                           FIRST AMENDED AND RESTATED
                    EXECUTIVE INCENTIVE RETIREMENT AGREEMENT

      THIS FIRST AMENDMENT AND RESTATEMENT to the EXECUTIVE INCENTIVE RETIREMENT
AGREEMENT dated the 20th day of November,  2008 (this  "Agreement") is made this
20th day of November, 2008 by and between The First National Bank of Litchfield,
a national bank, located in Litchfield, Connecticut, (the "Company"), and Robert
E. Teittinen (the "Executive").

                                  INTRODUCTION

      To  encourage  the  Executive  to remain an employee of the  Company,  the
Company is willing to provide to the Executive a deferred incentive opportunity.
The Company will pay the benefits from its general assets.

                                    AGREEMENT

      The Executive and the Company agree as follows:

                                    Article 1
                                   Definitions

      1.3 Definitions.  Whenever used in this Agreement, the following words and
phrases shall have the meanings specified:

            1.1.19 "Base Salary"  means the total annual base salary  payable to
      the  Executive  at the rate in effect on the date  specified.  Base Salary
      shall not be reduced for any salary reduction  contributions:  (i) to cash
      or  deferred  arrangements  under  Section  401(k) of the Code;  (ii) to a
      cafeteria  plan  under  Section  125 of the Code;  or (iii) to a  deferred
      compensation plan that is not qualified under Section 401(a) of the Code.

            1.1.20 "Code" means the Internal Revenue Code of 1986, as amended.

            1.1.21  "Deferral  Account"  means the  Company's  accounting of the
      Executive's accumulated Deferrals plus accrued interest.

            1.1.22  "Disability"  means the Executive is (i) unable to engage in
      any substantial  gainful activity by reason of any medically  determinable
      physical or mental  impairment  that can be expected to result in death or
      can be  expected to last for a  continuous  period of not less than twelve
      (12) months or (ii) receiving income replacement  benefits for a period of
      not less than three (3) months under an accident and health plan  covering
      the employees of the Bank by reason of any medically determinable physical
      or mental  impairment which can be expected to result in death or

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      last  for a  continuous  period  of at  least  twelve  (12)  months.  As a
      condition to any benefits, the Company may require the Executive to submit
      to such physical or mental evaluations and tests as the Board of Directors
      deems appropriate.  The Executive will be deemed disabled if determined to
      be totally disabled by the Social Security Administration.

            1.1.23 "Early  Retirement Age" means the Executive's  55th birthday,
      provided he has completed at least 20 Years of Service.

            1.1.24 "Early Retirement Date" means the date that the Executive has
      terminated  employment  after  attaining  his 55th birthday but before his
      65th birthday provided he has completed at least 20 Years of Service.

            1.1.25  "Earnings"  means the  Company's  reported  Net Income after
      taxes.

            1.1.26  "Earnings   Growth"  means  the  percentage  change  in  the
      Company's Earnings over a one-year period, measured on December 31 of each
      year.

            1.1.27 "Effective Date" means November 20, 2008.

            1.1.10  "Election  Form"  means the Form  attached as Exhibit 1. The
      Election  Form must be completed at the time of signing of this  Agreement
      and may not be amended  with  respect to any  deferrals  for any Plan Year
      unless such amended Election Form is received by June 30 of the Plan Year;
      if not received by such date, the amended  Election Form will be effective
      with respect to deferrals for the Plan Year commencing  after the date the
      instructions are received by the Company.

            1.1.11   "Extraordinary  Items"  means  those  items  recognized  by
      Generally   Accepted   Accounting   Principles   as   extraordinary   that
      substantially  affect  shareholder  equity  and/or the  Company's  assets.
      Examples of such items are stock redemptions, mergers, acquisitions, stock
      splits and other items of that nature.

            1.1.12 "Return On Equity" means the Company's Earnings, adjusted for
      Extraordinary  Items,  divided by the Company's common stock equity at the
      end of the same fiscal year.

            1.1.13 "Normal Retirement Age" means the Executive's 65th birthday.

            1.1.14  "Normal  Retirement  Date"  means  the  later of the  Normal
      Retirement Age or Termination of Employment.

            1.1.15  "Plan Year" means the calendar  year.  The initial Plan Year
      shall be a short Plan Year  commencing on the Effective Date and ending on
      December 31 of the same year.

            1.1.16  "Growth of Stock  Rate" means the  percentage  change in the
      First Litchfield  Financial  Corporation's  fair market value common stock
      price ("Stock  Price") over a one year period,  measured on December 31 of
      each  year,  with  a  guaranteed  minimum  of 4%  and a  maximum  of  15%,
      cumulatively.

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            1.1.17 "Termination of Employment" means the Executive ceasing to be
      employed  by  the  Company  for  any  reason   whatsoever,   voluntary  or
      involuntary, other than by reason of an approved leave of absence.

            1.1.18  "Unforeseeable  Emergency" means a severe financial hardship
      to the participant resulting from an illness or accident of the Executive,
      the  Executive's  spouse  or a  dependent  of the  Executive,  loss of the
      Executive's  property  due  to  casualty,  or  similar  extraordinary  and
      unforeseeable  circumstances  arising  as a result  of events  beyond  the
      control of the Executive, as limited by Section  409A(a)(1)(B)(ii)(II)  of
      the Code and Treasury Regulation ss.409A-3 under Section 409A of the Code.

            1.1.19  "Years of Service"  means the total  number of  twelve-month
      periods during which the Executive is employed on a full-time basis by the
      Company, inclusive of any approved leave of absence.

                                    Article 2
                                    Incentive

      2.5 Incentive Award. The three (3) year rolling average of Earnings Growth
and Return On Equity (the "ROE")  determined as of December 31 of each plan year
shall determine the Executive's  Incentive Award Percentage,  in accordance with
the  attached  Schedule  A. The chart on Schedule A is  specifically  subject to
change annually at the sole discretion of the Company's Board of Directors.  The
Incentive Award is calculated annually by taking the Executive's Base Salary for
the  Plan  Year in  which  the ROE was  calculated  times  the  Incentive  Award
Percentage.

      2.6 Incentive  Deferral.  On March 1 following each Plan Year, the Company
shall declare and pay the Incentive  Award in the form of  compensation  and the
Executive shall defer such amount to the Deferral Account.

                                    Article 3
                                Deferral Account

      3.1  Establishing  and Crediting.  The Company shall  establish a Deferral
Account on its books for the Executive, and shall credit to the Deferral Account
the following amounts:

            3.1.1 Deferrals.  The Incentive Deferral as determined under Article
      2.

            3.1.2 Interest.  On March 1 following each Plan Year and immediately
      prior to the payment of any  benefits,  interest  on the  account  balance
      since the preceding  credit under this Section  3.1.2,  at an annual rate,
      compounded monthly, equal to the Growth of Stock Rate for the same period.

      3.8 Statement of Accounts.  The Company  shall  provide to the  Executive,
within one hundred  twenty (120) days after each Plan Year, a statement  setting
forth the Deferral Account balance.

      3.9 Accounting  Device Only.  The Deferral  Account is solely a device for
measuring amounts to be paid under this Agreement. The Deferral Account is not a
trust fund of any kind.  The  Executive is a general  unsecured  creditor of the
Company for the payment of  benefits.  The benefits  represent  the mere

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Company promise to pay such benefits.  The Executive's rights are not subject in
any manner to anticipation,  alienation,  sale,  transfer,  assignment,  pledge,
encumbrance, attachment, or garnishment by the Executive's creditors.

      3.10 Hardship.  If an Unforeseeable  Emergency occurs,  the Executive,  by
written  instructions to the Company, may elect to reduce future deferrals under
this  Agreement  with respect to  Incentive  Awards for the current Plan Year if
such  instructions  are received by June 30 of the Plan Year, or if not received
by such  date,  the Plan Year  commencing  after the date the  instructions  are
received by the Company.

                                    Article 4
                                Lifetime Benefits

      4.1 Normal Retirement  Benefit. If there is a Termination of Employment of
the  Executive on or after the  Executive's  Normal  Retirement  Age for reasons
other than death,  the Company shall pay to the Executive the benefit  described
in this Section 4.1 in lieu of any other benefit under this Agreement.

            4.1.5 Amount of Benefit.  The benefit  under this Section 4.1 is the
      Deferral Account balance on the Executive's Normal Retirement Date.

            4.1.6  Payment of Benefit.  The Company shall pay the benefit to the
      Executive  commencing on the first day of the seventh month  following the
      Executive's  Termination of Employment  following the  Executive's  Normal
      Retirement Date in the form elected by the Executive on the Election Form.
      If the Executive elects to receive payments in equal monthly installments,
      the Company shall  continue to credit  interest on the  remaining  account
      balance  during any  applicable  installment  period  fixed at the rate in
      effect under Section 3.1.2 on the date of the  Executive's  Termination of
      Employment.

      4.2 Early Retirement  Benefit.  If there is a Termination of Employment of
the  Executive  on or after the  Early  Retirement  Age and  before  the  Normal
Retirement  Age,  and for reasons  other than death or  Disability,  the Company
shall pay to the Executive the benefit  described in this Section 4.2 in lieu of
any other benefit under this Agreement.

            4.4.4 Amount of Benefit.  The benefit  under this Section 4.2 is the
      Deferral Account balance on the Executive's Early Retirement Date.

            4.4.5  Payment of Benefit.  The Company shall pay the benefit to the
      Executive  in the form and on the date no  earlier  than the date which is
      six (6) months after Termination of Employment elected by the Executive on
      the Election Form. If the Executive  elects the Deferred Payment Option or
      to receive  payments in equal  monthly  installments,  the  Company  shall
      continue to credit  interest on the remaining  account  balance during any
      applicable  installment  period fixed at the rate in effect under  Section
      3.1.2 on the date of the Executive's Termination of Employment.

      4.5 Early Termination  Benefit. If there is a Termination of Employment of
the  Executive  before the Early  Retirement  Age or Normal  Retirement  Age for
reasons other than death or  Disability,  the Company shall pay to the Executive
the benefit  described in this Section 4.3 in lieu of any other  benefits  under
this Agreement.

            4.5.1 Amount of Benefit.  The benefit  under this Section 4.3 is the
      vested  portion  of  the

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      Deferral Account balance on the Executive's Termination of Employment.

            4.5.2 Vesting of Awards. For purposes of this Section 4.3, Incentive
      Awards  will vest 20% per year from the date the award was  declared.  The
      interest credited to each Incentive Award will also vest 20% per year from
      the date the award was declared.

            4.5.3  Payment of Benefit.  The Company shall pay the benefit to the
      Executive  in a single lump sum no earlier  than the date which is six (6)
      months after Termination of Employment.

      4.4  Disability  Benefit.  If  the  Executive  terminates  employment  for
Disability  prior to the Early  Retirement  Age or Normal  Retirement  Age,  the
Company shall pay to the Executive the benefit  described in this Section 4.4 in
lieu of any other benefit under this Agreement.

            4.4.5 Amount of Benefit.  The benefit  under this Section 4.4 is the
      Deferral Account balance at Termination of Employment.

            4.4.6  Payment of Benefit.  The Company shall pay the benefit to the
      Executive  commencing  on  the  first  day  of  the  month  following  the
      Executive's Termination of Employment in the form elected by the Executive
      on the Election Form. If the Executive elects to receive payments in equal
      monthly installments, the Company shall continue to credit interest on the
      remaining account balance during any applicable  installment  period fixed
      at the rate in effect under Section  3.1.2 on the date of the  Executive's
      Termination of Employment.

      4.5  Subsequent  Election.  If the  Executive  makes  any  election  under
Sections 4.1.2, 4.2.2, 4.4.2 or 5.1.2 subsequent to December 31, 2004 to delay a
payment or to change the form of payment,  (i) the  subsequent  election must be
made at least twelve (12) months prior to the date that the first  payment would
otherwise  have  been  made,  (ii)  payments  to be made  with  respect  to such
subsequent  election  shall be  deferred  for a period of not less five (5) five
years from the date such payments would otherwise have been made, and (iii) such
subsequent  election  shall not take  effect  until at least  twelve (12) months
after the date on which such subsequent election is made.

      4.6 Hardship  Distribution.  Upon the Company's  determination  (following
petition by the  Executive)  that the  Executive  has suffered an  Unforeseeable
Emergency, the Company shall distribute to the Executive the amount necessary to
satisfy  such  emergency  plus  amounts   necessary  to  pay  taxes   reasonably
anticipated as a result of the  distribution,  as determined in accordance  with
Treasury Regulation ss.409A-3.

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<PAGE>

                                    Article 5
                                 Death Benefits

      5.1 Death During Active Service. If the Executive dies while in the active
service of the Company, the Company shall pay to the Executive's beneficiary the
benefit described in this Section 5.1.

            5.1.5  Amount of  Benefit.  The  benefit  under  Section  5.1 is the
      greater  of the  Deferral  Account  balance  or the  projected  retirement
      benefit as per the attached Schedule B.

            5.1.6  Payment of Benefit.  The Company shall pay the benefit to the
      beneficiary  commencing  on  the  first  day of the  month  following  the
      Executive's  death in the form  elected by the  Executive  on the Election
      Form. If the Executive elects payments in equal monthly installments,  the
      Company shall continue to credit interest on the remaining account balance
      during any applicable installment period fixed at the rate in effect under
      Section 3.1.2 on the date of the Executive's Death.

      5.6 Death During  Benefit  Period.  If the  Executive  dies after  benefit
payments  have  commenced  under this  Agreement  but before  receiving all such
payments,  the  Company  shall pay the  remaining  benefits  to the  Executive's
beneficiary  at the same time and in the same  amounts they would have been paid
to the Executive had the Executive survived.

      5.7 Death After  Termination  of Employment  But Before  Benefit  Payments
Commence. If the Executive is entitled to benefit payments under this Agreement,
but dies prior to the commencement of said benefit  payments,  the Company shall
pay the benefit  payments to the Executive's  beneficiary that the Executive was
entitled to prior to death except that the benefit  payments  shall  commence on
the first day of the month following the date of the Executive's death.

                                    Article 6
                                  Beneficiaries

      6.5 Beneficiary Designations.  The Executive shall designate a beneficiary
by filing a written  designation  with the Company.  The Executive may revoke or
modify the designation at any time by filing a new written designation. However,
designations  will only be effective if signed by the  Executive and accepted by
the  Company  during  the  Executive's  lifetime.  The  Executive's  beneficiary
designation shall be deemed automatically revoked if the beneficiary predeceases
the  Executive,  or if the  Executive  names a  spouse  as  beneficiary  and the
marriage  is  subsequently  dissolved.  If the  Executive  dies  without a valid
beneficiary designation, all payments shall be made to the Executive's estate in
a lump sum.

      6.6 Facility of Payment.  If a benefit is payable to a minor,  to a person
declared  incompetent,  or to a person  incapable of handling the disposition of
his or her  property,  the Company may pay such benefit to the  guardian,  legal
representative  or person having the care or custody of such minor,  incompetent
person or  incapable  person.  The Company may  require  proof of  incompetence,
minority or guardianship as it may deem appropriate prior to distribution of the
benefit.  Such  distribution  shall  completely  discharge  the Company from all
liability with respect to such benefit.

                                    Article 7
                               General Limitations

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      Notwithstanding  any  provision  of this  Agreement to the  contrary,  the
Company shall not pay any benefit under this Agreement:

      7.1 Excess  Parachute  Payment.  To the extent the benefit would create an
excise tax under the excess parachute rules of Section 280G of the Code.

      7.2  Termination  for Cause.  If the Company  terminates  the  Executive's
employment for:

            7.2.7 Gross negligence or gross neglect of duties;

            7.2.8  Commission  of a felony or of a gross  misdemeanor  involving
      moral turpitude; or

            7.2.9 Fraud, disloyalty,  dishonesty or willful violation of any law
      or significant Company policy committed in connection with the Executive's
      employment and resulting in an adverse effect on the Company.

      7.3 Suicide.  If the Executive  commits suicide within two years after the
date of this Agreement,  or if the Executive has made any material  misstatement
of fact on any application for life insurance purchased by the Company.

                                    Article 8
                          Claims and Review Procedures

      8.1 Claims  Procedure.  The Company shall notify any person or entity that
makes a claim against this Agreement (the "Claimant") in writing,  within ninety
(90)  days  of  Claimant's  written  application  for  benefits,  of  his or her
eligibility or noneligibility for benefits under this Agreement.  If the Company
determines that the Claimant is not eligible for benefits or full benefits,  the
notice shall set forth (1) the specific reasons for such denial,  (2) a specific
reference to the provisions of this Agreement on which the denial is based,  (3)
a  description  of any  additional  information  or material  necessary  for the
Claimant to perfect his or her claim, and a description of why it is needed, and
(4) an  explanation  of this  Agreement's  claims  review  procedure  and  other
appropriate  information  as to the steps to be taken if the Claimant  wishes to
have the claim  reviewed.  If the  Company  determines  that  there are  special
circumstances  requiring  additional time to make a decision,  the Company shall
notify  the  Claimant  of the  special  circumstances  and the  date by  which a
decision is expected to be made, and may extend the time for up to an additional
ninety-day period.

      8.2 Review Procedure.  If the Claimant is determined by the Company not to
be eligible for benefits, or if the Claimant believes that he or she is entitled
to greater or different  benefits,  the Claimant  shall have the  opportunity to
have such claim reviewed by the Company by filing a petition for review with the
Company  within  sixty  (60) days  after  receipt  of the  notice  issued by the
Company.  Said  petition  shall state the  specific  reasons  which the Claimant
believes  entitle him or her to benefits  or to greater or  different  benefits.
Within sixty (60) days after receipt by the Company of the petition, the Company
shall afford the Claimant (and counsel, if any) an opportunity to present his or
her position to the Company orally or in writing,  and the Claimant (or counsel)
shall have the right to review the pertinent documents. The Company shall notify
the Claimant of its decision in writing  within the  sixty-day  period,  stating
specifically  the basis of its  decision,  written in a manner  calculated to be
understood  by the  Claimant and the specific  provisions  of this  Agreement on
which  the  decision  is  based.  If,  because  of the need for a

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hearing,  the sixty-day  period is not sufficient,  the decision may be deferred
for up to another sixty-day period at the election of the Company, but notice of
this deferral shall be given to the Claimant.

                                    Article 9
                           Amendments and Termination

      This  Agreement may be amended or terminated  only by a written  agreement
signed by the Company.

                                   Article 10
                                  Miscellaneous

      10.1 Binding  Effect.  This  Agreement  shall bind the  Executive  and the
Company,   and   their   beneficiaries,    survivors,   executors,   successors,
administrators and transferees.

      10.2 No  Guarantee of  Employment.  This  Agreement  is not an  employment
policy  or  contract.  It does not give the  Executive  the  right to  remain an
employee of the  Company,  nor does it  interfere  with the  Company's  right to
discharge  the  Executive.  It also does not require the  Executive to remain an
employee nor interfere with the Executive's right to terminate employment at any
time.

      10.3  Non-Transferability.  Benefits under this Agreement  cannot be sold,
transferred, assigned, pledged, attached or encumbered in any manner.

      10.4  Reorganization.  The Company shall not merge or consolidate  into or
with another company, or reorganize,  or sell substantially all of its assets to
another company,  firm, or person unless such succeeding or continuing  company,
firm, or person agrees to assume and  discharge the  obligations  of the Company
under this Agreement.  Upon the occurrence of such event,  the term "Company" as
used in this  Agreement  shall be deemed to refer to the  successor  or survivor
company.

      10.5 Tax  Withholding.  The  Company  shall  withhold  any taxes  that are
required to be withheld from the benefits provided under this Agreement.

      10.6 Applicable  Law. The Plan and all rights  hereunder shall be governed
by and  construed  according  to the laws of  Connecticut,  except to the extent
preempted by the laws of the United States of America.

      10.7  Unfunded  Arrangement.  The Executive  and  beneficiary  are general
unsecured  creditors  of the  Company  for the  payment of  benefits  under this
Agreement.  The benefits  represent  the mere promise by the Company to pay such
benefits.  The rights to benefits are not subject in any manner to anticipation,
alienation,  sale, transfer,  assignment,  pledge,  encumbrance,  attachment, or
garnishment  by creditors.  Any insurance on the  Executive's  life is a general
asset of the Company to which the Executive and beneficiary have no preferred or
secured claim.

      10.8 Recovery of Estate Taxes. If the Executive's gross estate for federal
estate tax  purposes  includes  any amount  determined  by  reference  to and on
account of this Agreement,  and if the beneficiary is other than the Executive's
estate,  then the  Executive's  estate  shall be  entitled  to recover  from the
beneficiary  receiving such benefit under the terms of the Agreement,  an amount
by which the total estate tax due by the Executive's  estate,  exceeds the total
estate tax which  would have been  payable if the value

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of such benefit had not been included in the Executive's  gross estate. If there
is more than one person  receiving such benefit,  the right of recovery shall be
against  each  such  person.  In  the  event  the  beneficiary  has a  liability
hereunder, the beneficiary may petition the Company for a lump sum payment in an
amount not to exceed the beneficiary's liability hereunder.

      10.11 Entire  Agreement.  This Agreement  supersedes  the prior  agreement
between  Company and the Executive on the subject  matter hereof dated  December
19,  2002 and  constitutes  the entire  agreement  between  the  Company and the
Executive  as to the  subject  matter  hereof.  No  rights  are  granted  to the
Executive by virtue of this Agreement  other than those  specifically  set forth
herein.

      10.12 Administration. The Company shall have powers which are necessary to
administer this Agreement, including but not limited to:

            10.10.9  Interpreting the provisions of this Agreement;
            10.10.10 Establishing and revising the method of accounting for this
                     Agreement;
            10.10.11 Maintaining a record of benefit payments; and
            10.10.12 Establishing  rules and  prescribing any forms necessary or
                     desirable to administer this Agreement.

      10.11 Designated Fiduciary. For purposes of the Employee Retirement Income
Security Act of 1974, if  applicable,  the Company shall be the named  fiduciary
and plan administrator under the Agreement.  The named fiduciary may delegate to
others certain aspects of the management and operation  responsibilities  of the
plan  including  the  employment of advisors and the  delegation of  ministerial
duties to qualified individuals.

      10.12 Section 409A. All provisions of this Agreement  shall be interpreted
to be compliant with the provisions of Section 409A of the Code, and regulations
and  rulings  issued  thereunder,  so as not to subject  the  benefits  accruing
hereunder to taxation pursuant to Section 409A(a)(1).

                           (Signatures on next page.)

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      IN WITNESS  WHEREOF,  the Executive and a duly authorized  Company officer
have signed this Agreement.

EXECUTIVE:                             COMPANY:
                                       The First National Bank of Litchfield

Robert E. Teittinen                    By:    Joseph J. Greco
-------------------                           ---------------

                                       Title:  President & CEO
                                               ---------------

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                                  EXHIBIT 1 TO
                    EXECUTIVE INCENTIVE RETIREMENT AGREEMENT

                           Normal Retirement Benefits
                           --------------------------

I elect to receive my Normal Retirement Benefits under Section 4.1.2 of the
Agreement in the following form:
[Initial One]

____   Lump sum

RT Equal monthly installments for 180 months.
--

                            Early Retirement Benefits
                            -------------------------

I elect to receive my Early Retirement Benefits under Section 4.2.2 of the
Agreement in the following form:
[Initial One]

___ Lump sum, payable on the first day of the month following my Early
Retirement Date.

____ Deferred Lump sum, payable on _____________________.

RT Equal monthly installments for 180 months commencing on the first day of
the month following my Early Retirement Date.

____ Deferred Equal monthly installments for 180 months commencing on _________.

                               Disability Benefits
                               -------------------

I elect to receive my Disability Benefits under Section 4.4.2 of the Agreement
in the following form:
[Initial One]

___   Lump sum

RT  Equal monthly installments for 180 months.
---

                                 Death Benefits
                                 --------------

I elect to have my Death Benefit paid under Section 5.1.2 of the Agreement in
the following form:
[Initial One]

 RT  Lump sum
---

____ Equal monthly installments for 180 months.

Signature:  /s/ Robert E. Teittinen
            -----------------------

Date:  December 17, 2008

Accepted by the Company this 17th day of December, 2008.

By: /s/ Joseph J. Greco
    -------------------
Title: President & CEO

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                             BENEFICIARY DESIGNATION

                      The First National Bank of Litchfield
                    EXECUTIVE INCENTIVE RETIREMENT AGREEMENT

I designate the following as beneficiary of any death benefits under the
Executive Incentive Retirement Agreement:

Primary:  Equally to Daryl M. Teittinen and Daphne C. Teittinen

________________________________________________________________________________

Contingent:  _____________________________________________________________

________________________________________________________________________________

Note: To name a trust as beneficiary,  please provide the name of the trustee(s)
      and the exact name and date of the trust agreement.

I understand  that I may change these  beneficiary  designations by filing a new
written designation with the Company. I further understand that the designations
will be automatically  revoked if the beneficiary  predeceases me, or, if I have
named my spouse as beneficiary and our marriage is subsequently dissolved.

Signature: /s/ Robert E. Teittinen
          ------------------------

Date:  December 17, 2008

Accepted by the Company this 17th day of December, 2008.

By:  /s/ Joseph J. Greco
      ------------------
Title:  President & CEO
        ----------------

                                   Schedule A

                           Deferred Bonus as a % of Annual Fees

                     ----------------------------------------------------------
           14.0%         11.0     12.1     13.1      14.1      15.1     16.1
                     ----------------------------------------------------------
           13.0%         10.3     11.3     12.2      13.1      14.1     15.0
                     ----------------------------------------------------------
           12.0%         9.6      10.5     11.4      12.2      13.1     14.0
                     ----------------------------------------------------------
Earnings   11.0%         8.9      9.7      10.5      11.3      12.1     13.0
 Growth              ----------------------------------------------------------
           10.0%         8.2      8.8       9.7      10.4      11.2     11.9
                     ----------------------------------------------------------
            9.0%         7.5      8.1       8.8       9.5      10.2     10.9
                     ----------------------------------------------------------
            8.0%         6.8      7.5       8.0       8.6       9.2      9.8
                     ----------------------------------------------------------
            7.0%         6.1      6.5       7.2       7.7       8.3      8.8
                     ----------------------------------------------------------
            6.0%         5.3      5.9       6.3       6.8       7.3      7.8
                     ----------------------------------------------------------
            5.0%         4.6      5.0       5.5       5.9       6.3      6.7
                     ----------------------------------------------------------
                        11.0%    12.0%     13.0%     14.0%     15.0%    16.0%

                                  Return on Equity

                                       71EXHIBIT 10.42
                      THE FIRST NATIONAL BANK OF LITCHFIELD
                   SUPPLEMENTAL EXECUTIVE RETIREMENT AGREEMENT

      This  Supplemental  Executive  Retirement  Agreement (the  "Agreement") is
dated as of and is effective  the 1st day of January,  2006,  by and between THE
FIRST  NATIONAL BANK OF  LITCHFIELD,  a bank  organized  and existing  under the
National  banking laws of the States of America with its main office  located at
13 North  Street,  Litchfield,  Connecticut,  06759 (the  "Bank") and Joelene E.
Smith, residing at 10 Laurel Road, Warren, Connecticut 06754 (the "Executive").

      Whereas,  the Executive has been and continues to be a valued executive of
the Bank;  and whereas,  the  Executive  has performed her duties as Senior Vice
President in a capable and efficient manner; and

      Whereas,  the Bank wishes to ensure the continued  loyalty and services of
the Executive by providing her with deferred compensation.

      Now,  therefore,  in  consideration  of the  foregoing  premises  and  the
services  to be  performed  in the  future as well as the mutual  covenants  and
promises  herein  contained,  it is  agreed  that  this  Supplemental  Executive
Retirement Agreement dated January 1, 2006 is hereby entered into as follows:

      In consideration of the mutual covenants herein contained and implied, the
sufficiency of which is acknowledged  by each party,  the Bank and the Executive
agree as follows:

      1. Definitions
         -----------

            (a) "Accrued  Benefit"  means the gross annual  payment equal to ten
percent (10%) of the Executive's  Final Average  Compensation  multiplied by (i)
the Executive's Non-forfeitable Percentage set forth in Section 2(b).

            (b) "Actuarial  Equivalent" means a benefit of equivalent value when
computed on the basis of the  applicable  interest  rate,  for  purposes of Code
Section  417(e)(3)(A)(ii)(II),  for November of the calendar year  preceding the
year in which the Executive separates from service,  and the mortality table set
forth in Treas. reg. 1.401(a)(9)-9.

            (c) "Cause" means the following:

                  (i) the  commission  by the  Executive of any crime  involving
deceit,  dishonesty or fraud with regard to the Bank or its  business,  or moral
turpitude of such a nature as would adversely affect the reputation of the Bank;

                                       72
<PAGE>

                  (ii) the commission by the Executive of a material act or acts
      of dishonesty in connection with the performance of the Executive's duties
      to the Bank including,  without  limitation,  misappropriation of funds or
      property;

                  (iii)  an  act  or  acts  of  misconduct   (including   sexual
      harassment) by the Executive;

                  (iv) continued,  willful  non-performance  by the Executive of
      duties (other than by reason of illness or disability) which has continued
      for more than five (5) days following  written  notice of  non-performance
      from the Board of Directors (or Executive Committee); or

                  (v) the entry of a final cease and desist  order with  respect
      to safety and  soundness  violations  by any  federal or state  regulatory
      agency having  jurisdiction  over the Bank, or the suspension,  removal or
      termination of the employment of the Executive pursuant to an order by any
      federal or state regulatory  agency having  jurisdiction over the Bank, so
      long as any such order is determined  in the sole  discretion of the Board
      of  Directors  to  relate  to  matters  within  the  conduct  or sphere of
      supervisory authority of the Executive.

      The   determination  of  whether  the  Executive's   employment  shall  be
terminated for Cause shall be made at a meeting of the Board of Directors called
and held for such  purpose,  at which  meeting  the Board of  Directors  makes a
finding  that in the good faith  opinion of the Board of  Directors an event set
forth in subclauses (i) through (v) has occurred and specifying the  particulars
thereof in detail.

            (d)  "100%  Non-forfeitable  Benefit"  means  the  Accrued  Benefit,
determined with a non-forfeitable interest equal to 100%.

            (e) "Code" means the Internal  Revenue Code of 1986, as amended from
time to time.

            (f)  "Final   Average   Compensation"   means  the  average  of  the
Executive's  annual base salary (prior to any salary reduction  contributions to
any  Section  401(k),  125 or 132 plan) and bonuses  received  by the  Executive
during the  thirty-six  (36) month period  ending on December 31 of the calendar
year immediately  preceding the Executive's  separation from employment with the
Bank. Without limiting the foregoing,  salary and bonus payments received during
such 36-month  period but  attributable to an earlier period shall be considered
under the  preceding  sentence;  and  amounts  received  after  such  period but
attributable to services rendered during such period shall not be considered.

                                       73
<PAGE>

            (g) "Hour of  Service"  means each hour for which the  Executive  is
paid or  entitled to be paid for the  performance  of duties for the Bank or for
non-performance of duties  (irrespective of whether the employment  relationship
has  terminated)  due to  vacation,  holiday,  illness,  incapacity,  jury duty,
military duty or approved paid leave of absence.

            (h) "Normal Form" means a lump sum distribution.

            (i) "Year of Service"  means each period of twelve (12)  consecutive
months commencing January 1, 2004 and each anniversary  thereof during which the
Executive is credited  with at least 1,000 Hours of Service,  including all such
twelve (12) month  periods prior to the effective  date of this  Agreement.  The
Executive  shall accrue a Year of Service for all purposes  hereunder if, in the
Executive's  final year of employment  with the Bank,  the Executive is credited
with at least 1,000 Hours of Service.

            2. Payments to Executive.
               ----------------------

            (a) If the Executive remains continuously employed by the Bank until
her  termination  of employment  on or after  completion of eleven (11) Years of
Service,  the  Bank  will  pay to the  Executive  a gross  amount  equal  to the
Actuarial  Equivalent of (i) the Accrued Benefit,  multiplied by (ii) the number
of  whole  years  by  which  the  Executive's  life  expectancy  in  years  upon
termination from employment  (determined  under the 1994 Group Annuity Reserving
Table) exceeds the Executive's  age in years as of such  employment  termination
date.  Said gross  benefit  amount will be paid in the Normal  Form,  subject to
applicable  withholding,  and shall be payable  within one hundred  eighty (180)
days of the date the Executive's  employment with the Bank terminates or as soon
as practicable thereafter.

            (b) The  Executive's  benefits  under  the  Agreement  shall  become
non-forfeitable  in  accordance  with the  following  schedule,  subject  to the
possible  adjustments  referenced  in  Sections  2(c)  and  Section  15 of  this
Agreement;  provided,  however,  that all benefits  payable  hereunder  shall be
forfeited upon a termination from employment for Cause:

                    Years of Service    Non-forfeitable Percentage
                    ----------------    --------------------------
                           1 or less                  0%
                           2                         10%
                           3                         20%
                           4                         30%
                           5                         40%
                           6                         50%
                           7                         60%

                                       74
<PAGE>

                           8                         70%
                           9                         80%
                           10                        90%
                           11 or more               100%

            (c) If the Executive's  benefits under this Agreement become payable
upon the  Executive's  separation  from  service  before  the  Executive's  62nd
birthday for reasons  other than Cause,  Change in Control,  death or disability
pursuant to Sections 3 or 4 hereof, as applicable,  then the gross amount of the
Executive's  benefit under shall be determined in accordance  with Section 2(a),
provided  that the  Accrued  Benefit  shall  be  reduced  by 3.0% for each  year
benefits  commence  before the  Executive's  62nd  birthday.  The foregoing 3.0%
reduction shall be pro-rated for a partial year.

            (d) In lieu of the Normal Form  provided by Section  2(a),  with the
written  consent of the Board of Directors of the Bank,  the Executive may elect
at least twelve (12) months prior to the date on which  payments are to commence
an optional form of payment which is the Actuarial Equivalent of the Normal Form
to  which  the  Executive  is  entitled;  provided,  however,  in the case of an
election related to a payment not made on account of the Executive's  disability
(as  defined  in  Section 4 hereof)  or death,  the  payment(s)  to be made with
respect to such election must be deferred for a period of not less than five (5)
years from the date such  payment(s)  would otherwise have been made and may not
be made less  than  twelve  (12)  months  prior to the date  that the  scheduled
payment(s) would have been made in the Normal Form.

            (e)  Notwithstanding  anything to the contrary  herein  contained or
implied,  in no event shall the  Executive  be entitled to receive any  benefits
under this Agreement if she is terminated by the Bank for Cause.

      3. Death of the Executive.
         ----------------------

            (a) If the Executive  dies while employed by the Bank, the Bank will
pay to the Executive's surviving spouse the Executive's Accrued Benefit assuming
that  the   Executive  had  retired  the  day  before  her  death  with  a  100%
Non-forfeitable Benefit. The surviving spouse shall receive the death benefit in
a lump sum within  thirty (30) days of the death of the  Executive or as soon as
practicable thereafter.  If the Executive leaves no surviving spouse, her estate
shall receive the present value of the Executive's Accrued Benefit in a lump sum
as soon as practicable after the Executive's death.

            (b) If the Executive dies following the  commencement of the payment
of benefits under this  Agreement,  death  benefits,  if any, will be determined
pursuant to the form of benefit payment in effect at the time of death.

                                       75
<PAGE>

      4. Disability Benefits.
         -------------------

      If the  Executive  shall be disabled as defined in this Section 4 while in
the employ of the Bank and resigns from employment with the Bank on the basis of
such  disability,  the Executive shall be entitled to receive the benefit amount
to which she would be entitled under Section 2(a) determined as if the Executive
had a one hundred percent (100%)  Non-forfeitable  Benefit.  For the purposes of
this Section 4, the Executive shall be considered  disabled if she (1) is unable
to engage  in any  substantial  gainful  activity  by  reason  of any  medically
determinable  physical or mental  impairment  which can be expected to result in
death or can be expected to last for a continuous period of not less than twelve
(12) months; or (2) is receiving income replacement  benefits for a period of at
least three (3) months under an accident and health plan  covering the employees
of the Bank by reason of a medically  determinable physical or mental impairment
which can be expected to result in death or last for a  continuous  period of at
least twelve (12) months.

      5. Termination Without Cause.
         -------------------------

      If the  Executive is terminated  without  Cause,  the  Executive  shall be
entitled to receive her Accrued Benefit  payable  pursuant to Section 2 above as
if the Executive  had  terminated  her  employment  with a 100%  Non-forfeitable
Benefit, subject to the possible adjustments discussed in Section 2(c).

      6. Re-employment.
         -------------

      If the  Executive  is rehired  by the Bank  after she has begun  receiving
payments hereunder but before she has received all payments due hereunder,  such
payments shall be  discontinued  until the  Executive's  subsequent  retirement,
whereupon the amount of the Executive's benefit shall be recalculated as of that
time.

      7. Claims Procedure.
         ----------------

      (a) In the  event  the  Executive  or her  beneficiary  in the case of the
Executive's  death  or  their  authorized   representative   (hereinafter,   the
"Claimant") asserts a right to a benefit under this Agreement which has not been
received,  in whole or in part, the Claimant must file with the Bank a claim for
such benefit on forms  provided by the Bank.  The Bank shall render its decision
on the claim  within  ninety  (90) days after  receipt of the claim.  If special
circumstances apply, the ninety (90) day period may be extended by an additional
ninety  (90) days,  provided  written  notice of the  extension  is given to the

                                       76
<PAGE>

Claimant during the initial ninety (90) day period and such notice indicates the
special  circumstances  requiring an extension of time and the date by which the
Bank  expects  to  render  its  decision  on the  claim.  If the Bank  wholly or
partially  denies  the  claim,  the Bank  shall  provide  written  notice to the
Claimant  within the time  limitations  of this  Section.  Such notice shall set
forth:

            (i) the specific reasons for the denial of the claim;

            (ii) specific reference to pertinent  provisions of the Agreement on
which the denial is based;

            (iii)  a  description  of any  additional  material  or  information
necessary  to  perfect  the claim and an  explanation  of why such  material  or
information is necessary;

            (iv) a description of the  Agreement's  claims  procedures,  and the
time limitations applicable to such procedures; and

            (v) a  statement  of the  Claimant's  right to bring a civil  action
under Section 502(a) of the Employee  Retirement Income Security Act of 1974, as
amended,  ("ERISA")  if the claim  denial is  appealed  to the Bank and the Bank
fully or partially denies the claim pursuant to Section 7(c).

      (b) A Claimant  whose  application  for  benefits is denied in whole or in
part may  request a full and fair  review of the  decision  denying the claim by
filing, in accordance with such procedures as the Bank may reasonably establish,
a written appeal which sets forth the documents,  records and other  information
relating to the claim within sixty (60) days after  receipt of the notice of the
denial by the Bank.  In  connection  with such  appeal  and upon  request by the
Claimant,  a Claimant  may review (or  receive  free  copies of) all  documents,
records or other information  relevant to the Claimant's claim for benefit,  all
in accordance  with such procedures as the Bank may reasonably  establish.  If a
Claimant  fails to file an appeal  within such sixty (60) day period,  she shall
have no further right to appeal.

      (c) A decision  on the  appeal by the Bank  shall  include a review by the
Bank  that  takes  into  account  all  comments,  documents,  records  and other
information  submitted by the Claimant relating to the claim,  without regard to
whether such  information  was  submitted  or  considered  in the initial  claim
determination.  The Bank shall  render its  decision on the appeal no later than
sixty  (60)  days  after  the  receipt  by the Bank of the  appeal.  If  special
circumstances  apply, the sixty (60) day period may be extended by an additional
sixty  (60)  days,  provided  written  notice of the  extension  is given to the
Claimant during the initial sixty (60) day period and such notice  indicates the
special  circumstances  requiring an extension of time and the date by which the

                                       77
<PAGE>

Bank expects to render its  decision on the claim on appeal.  If the Bank wholly
or partly denies the claim on appeal,  the Bank shall provide  written notice to
the Claimant within the time limitations of this Section.  Such notice shall set
forth:

            (i) the specific reasons for the denial of the claim;

            (ii) specific reference to pertinent  provisions of the Agreement on
which the denial is based;

            (iii) a statement of the Claimant's  right to receive,  upon request
and free of charge, reasonable access to, and copies of, all documents, records,
and other information relevant to the Claimant's claim for benefits; and

            (iv) a Statement  of the  Claimant's  right to bring a civil  action
under Section 502(a) of ERISA,

      (d)  The  Bank  shall  be the  Plan  Administrator  with  respect  to this
Agreement.

      (e) As Plan Administrator,  the Bank shall have complete authority, in its
sole and absolute discretion,  to interpret the provisions of this Agreement and
make determinations regarding eligibility. Without limiting the foregoing, it is
the Bank's intent that the Agreement be administered in a manner  compliant with
the provisions of Section 409A of the Code, and  regulations  and rulings issued
thereunder  so as not to subject the  benefits  accruing  hereunder  to taxation
pursuant to said Section 409A(a)(1).

      8. Provision for Incapacity.
         ------------------------

      If the Board of Directors (or Executive  Committee)  reasonably  deems the
Executive incapable of receiving her benefits by reason of illness, infirmity or
incapacity of any kind, the Bank may make payments to any one or more persons or
representatives  as provided in a written direction  received from the Executive
while  competent  and,  in the  absence of any such  written  direction,  to the
following persons and representatives in the order set forth, i.e., first to the
Executive's  spouse and then to her  children.  The  making of any such  payment
shall fully  discharge the Bank from all  obligations  and liability  under this
Agreement.

      9. Violation of Agreement.
         ----------------------

      In the  event  of any  violation  of any  terms  of the  Agreement  by the
Executive, the Bank, in addition to any other rights which it may have, shall be

                                       78
<PAGE>

relieved of the  liability to make any payments  under the  Agreement  to, or on
behalf of, the Executive so long as such  violation  continues  (and may recover
all payments made prior to such  violation) and shall have the right to specific
enforcement  at the Agreement by  proceedings  in equity.  All costs,  including
attorney's  fees,  incurred  by the  Bank  pursuant  to this  Section  shall  be
reimbursed by the Executive  upon entry of an order,  decree,  judgment or other
pronouncement  from the  court,  arbitrator  or  mediator  to whom the matter is
submitted that the Executive violated this Agreement.

      10. Non-assignable Rights.
          ---------------------

      Except as otherwise  provided by the Agreement,  neither the Executive nor
her surviving spouse shall have any right to commute, sell, assign,  transfer or
otherwise convey the right to receive any payments hereunder, which payments and
the  right   thereto   are   expressly   declared  to  be   non-assignable   and
non-transferable.

      11. Independence of Agreement.
          -------------------------

      The benefits  payable under the Agreement  shall be independent of, and in
addition to, any  employment  agreement that may exist from time to time between
the  parties  hereto,  or any  other  compensation  payable  by the  Bank to the
Executive,  whether as salary,  bonus or otherwise.  The Agreement  shall not be
deemed to constitute a contract of employment between the parties hereto, and no
provision hereof shall restrict the right of the Bank to discharge the Executive
with or without  Cause,  or restrict the right of the Executive to terminate her
employment.

      12. General Obligation of the Bank
          ------------------------------

      The benefits provided under the Agreement constitute a mere promise by the
Bank to make payments in the future,  and the rights of the Executive  hereunder
shall be those of a general  unsecured  creditor of the Bank.  Nothing contained
herein  shall be construed to create a trust of any kind or to render the Bank a
fiduciary  with  respect to the  Executive.  The Bank shall not be  required  to
maintain any fund or segregate any amount or in any other way currently fund the
future  payment  of any  benefit  provided  under  the  Agreement,  and  nothing
contained  herein shall be  construed to give the  Executive or any other person
any  right to any  specific  assets  of the Bank or of any  other  person.  This
Agreement  is intended to be, and shall in all events be  construed  and treated
as, a deferred  compensation  arrangement  for a "select group of management and
highly compensated employees," within the meaning of Title I of ERISA.

                                       79
<PAGE>

      13. Establishment of Trust; Cooperation of Executive.
          ------------------------------------------------

      (a) The  provisions  of Section 12  notwithstanding,  the Bank may, in its
sole and absolute  discretion,  establish a trust to which funds  earmarked  for
payment under this Agreement may be transferred and from which benefits  arising
hereunder,  and subject to the provisions and limitations  hereof,  may be paid.
Any such trust would contain provisions making it irrevocable by the Bank unless
and until all benefits  hereunder  which are funded through such trust have been
paid or provided  for,  except in the case of  bankruptcy  or  insolvency of the
Bank,  in which  event  benefit  payments  from the trust would cease and assets
thereof would revert to the Bank or be paid to its creditors.

      (b) The Bank may, for its corporate purposes, choose to obtain a policy or
policies of life  insurance  on the  Executive.  The  Executive  agrees to fully
cooperate in connection  with the securing of any such policy or policies or the
election of any options  thereunder  which the Bank may wish and to make herself
available for medical examinations if necessary.

      14. Governing Law.
          -------------

      The  Agreement  shall be  construed  under and governed by the laws of the
State of Connecticut except to the extent pre-empted by ERISA.

      15. Change of Control.
          -----------------

      This Agreement shall be binding upon any successor to the Bank following a
Change in Control.

      (a)  "Change in  Control"  means a change in the  ownership  or  effective
control of the Bank, or in the ownership of a substantial  portion of the assets
of the  Bank,  as such  change  is  defined  in  Section  409A of the  Code  and
regulations thereunder.

      (b) Upon a Change in Control  followed within  twenty-four  (24) months by
the Executive's  termination for reasons other than death,  disability or cause,
the Executive shall be entitled to receive the benefit amount to which she would
be entitled to under  Section 2(a) and  determined as if the Executive had a one
hundred percent (100%) non-forfeitable benefit.

      (c)  Notwithstanding  any provision of this Agreement to the contrary,  to
the extent any distribution(s), if made, under this Section 15 of this Agreement
would result in "an excess  parachute  payment" under 280G of the Code, the Bank
shall reduce or delay such  distribution(s)  to the extent necessary so that the

                                       80
<PAGE>

distributions would not result in an excess parachute payment.

      EXECUTED under seal as of the day and year first above written, and in the
case of the Bank by its duly authorized representative.

                                          THE FIRST NATIONAL BANK OF LITCHFIELD

                                          DIRECTOR

ATTEST:                                   By: /s/ Charles E. Orr
                                              ----------------------------

                                                  (duly authorized)

                                          EXECUTIVE

ATTEST:                                   By: /s/ Joelene E. Smith
                                              ----------------------------
                                                  Joelene E. Smith

                                       81

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