Document:

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                                                                   Exhibit 10.1

                                    FORM OF
                                  HAMPDEN BANK
                     EMPLOYEE STOCK OWNERSHIP PLAN AND TRUST

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I.    Introduction.............................................................1

          1.1    Plan Name.....................................................1
          1.2    Effective Date................................................1
          1.3    Purpose of Plan...............................................1

II.   Eligibility..............................................................1

          2.1    Initial Eligibility...........................................1

III.  Contributions............................................................2

          3.1    Contribution Amounts..........................................2
          3.2    Form of Contributions.........................................2
          3.3    Minimum Contributions.........................................2

IV.   Investment of Trust Assets...............................................2

          4.1    Purchase of Employer Stock....................................2
          4.2    Purchase Price of Employer Stock..............................3
          4.3    Diversification of Investments................................3
          4.4    Borrowing to Acquire Employer Stock...........................4
          4.5    Release of Shares.............................................5

V.    Accounting...............................................................6

          5.1    Accounting for Trust Assets...................................6
          5.2    Treatment of Encumbered Shares................................6
          5.3    Separate Records of Participants..............................6
          5.4    Allocation Among Participant Accounts.........................6
          5.5    Annual Report to Participants.................................8
          5.6    Voting........................................................8
          5.7    List of Participants..........................................9
          5.8    Maximum Annual Additions......................................9
          5.9    Adjustment for Excessive Additions...........................11

VI.   Vesting.................................................................12

          6.1    Vesting......................................................12
          6.2    Forfeitures..................................................13
          6.3    Normal Retirement Age, etc...................................14

VII.  Distributions...........................................................14

          7.1    Form of Distribution.........................................14
          7.2    Timing of Distribution of Benefits...........................15
          7.3    Death Benefits; Designation of Beneficiary...................16
          7.4    Bank Certification...........................................17
          7.5    Minimum Distribution Requirements............................17
          7.6    Time and Manner of Minimum Required Distributions............17
          7.7    Required Minimum Distributions During Participant's Lifetime.18
          7.8    Required Minimum Distributions After Participant's Death.....19
          7.9    Definitions..................................................20
          7.10   Distribution for Minor Beneficiary...........................21

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          7.11   Location of Participant or Beneficiary Unknown...............21
          7.12   Limitations on Benefits and Distributions....................22
          7.13   Direct Rollovers.............................................22

VIII. Trust and Trustees......................................................23

          8.1    Trust and Trustee............................................23
          8.2    General Powers...............................................23
          8.3    Responsibility of Trustee....................................25
          8.4    Compensation and Expenses....................................26
          8.5    Continuation of Powers Upon Trust Termination................26
          8.6    Resignation..................................................26
          8.7    Removal of the Trustee.......................................26
          8.8    Duties of Resigning or Removed Trustee and of Successor
                   Trustee....................................................26
          8.9    Filling Trustee Vacancy......................................27
          8.10   Disagreement as to Acts......................................27
          8.11   Persons Dealing with Trustee.................................27
          8.12   Multiple Trustees............................................27
          8.13   Dealings with the Administrative Committee...................27

IX.   Dividends...............................................................28

          9.1    Payment of Dividends.........................................28
          9.2    Allocation of Dividends......................................28

X.    Put Options.............................................................28

          10.1   Application..................................................28
          10.2   Put Option...................................................28

XI.   Right of First Refusal..................................................30

          11.1   Application..................................................30
          11.2   Right of First Refusal.......................................30
          11.3   Endorsement of Certificates..................................30

XII.  Administrative Committee................................................31

          12.1   Status.......................................................31
          12.2   Powers.......................................................31
          12.3   Duties.......................................................32
          12.4   Effect of Interpretation or Determination....................32
          12.5   Reliance on Tables, etc......................................32
          12.6   Claims and Review Procedures.................................33
          12.7   Indemnification..............................................33
          12.8   Annual Report................................................34
          12.9   Expenses of Plan.............................................34
          12.10  Limitation of Liability......................................34
          12.11  Accounts.....................................................35

XIII. Amendments and Termination..............................................35

          13.1   Plan Amendments..............................................35

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          13.2   Termination of Contributions.................................35
          13.3   Termination of Plan..........................................36

XIV.  Top Heavy Provisions....................................................36

          14.1   Provisions to apply..........................................36
          14.2   Minimum Contribution.........................................36
          14.3   Definitions..................................................37

XV.   Definitions.............................................................40

XVI.  Miscellaneous...........................................................45

          16.1   Exclusive Benefit Rule.......................................45
          16.2   Non-terminable Rights........................................45
          16.3   Limitation of Rights.........................................45
          16.4   Non-alienability of Benefits.................................45
          16.5   Adequacy of Delivery.........................................46
          16.6   Service with Armed Forces....................................46
          16.7   Merger or Consolidation......................................46
          16.8   Governing Law................................................46

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                                    FORM OF
                                  HAMPDEN BANK
                     EMPLOYEE STOCK OWNERSHIP PLAN AND TRUST

                                 I. INTRODUCTION

     1.1    PLAN NAME

     The name of the Plan is the Hampden Bank Employee Stock Ownership Plan and
Trust.

     1.2    EFFECTIVE DATE

     The Plan is effective as of January 1, 2007.

     1.3    PURPOSE OF PLAN

     The Plan is created for the purpose of providing retirement benefits to
Participants and their beneficiaries in a manner consistent with the
requirements of the Code and Title I of ERISA. The Plan is intended to be, and
is hereby designated as, an employee stock ownership plan within the meaning of
Code Section 4975(e)(7), which shall invest primarily in Employer Stock.

                                 II. ELIGIBILITY

     2.1    INITIAL ELIGIBILITY

     (a)    An  Eligible  Employee  who  is an  Employee  on  [insert  date  of
conversion]  (the  "Conversion  Date") and who has earned one Hour of Service in
each  of the 3  months  immediately  preceding  the  Conversion  Date  will be a
Participant as of the Conversion Date. Any other Eligible Employee will become a
Participant in the Plan on the Entry Date  coincident with or next following the
date on which he or she first completes a Year of Service and attains age 21.

     (b)    No  contributions  shall  be made  or  forfeitures  allocated  with
respect  to an  Employee  who is not,  or a  Participant  who  ceases  to be, an
Eligible  Employee.  If an Employee who is not an Eligible  Employee  becomes an
Eligible  Employee,  such Employee will become a Participant  on the first Entry
Date on or after  becoming  an  Eligible  Employee,  if he or she has  otherwise
satisfied the requirements of this Article II.

     2.2    BREAK IN SERVICE

     Any Participant who terminates employment but is reemployed by a
Participating Employer before incurring a One Year Break in Service will
continue to participate in the

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Plan as if such termination had not occurred, effective as of the date of
reemployment. Any Participant who terminates employment but is reemployed by a
Participating Employer after incurring a One Year Break in Service will be
treated as a new hire, and he or she will participate in the Plan only after
again satisfying the requirements of this Article II.

                               III. CONTRIBUTIONS

     3.1    CONTRIBUTION AMOUNTS

     Not later than the time prescribed by law for filing its Federal income tax
return (including extensions thereof) for its current taxable year and each
succeeding taxable year, the Bank will make contributions to the Trust in such
amounts as may be determined by the Board of Directors, provided, however, that
the aggregate contribution of the Bank for any year shall not exceed the maximum
amount which would constitute an allowable deduction to the Bank for such year
under Code Section 404(a). A Participant shall neither be required nor permitted
to make contributions to the Plan and Trust.

     3.2    FORM OF CONTRIBUTIONS

     Bank contributions will be paid in cash or other property, as the Board of
Directors may, from time to time, determine; provided however that the Bank may
not make contributions of Employer Stock to the extent necessary to satisfy a
monetary obligation in violation of U.S. Department of Labor Interpretive
Bulletin 93-4 unless the contribution otherwise satisfies the requirements for
an exemption from the ERISA prohibited transaction rules.

     3.3    MINIMUM CONTRIBUTIONS

     The Bank's annual contribution must be sufficient to ensure that Trust does
not default on the repayment by the Trust of indebtedness in accordance with the
terms of such indebtedness which may be incurred from time to time for the
purpose of the acquisition of Employer Stock.

                         IV. INVESTMENT OF TRUST ASSETS

     4.1    PURCHASE OF EMPLOYER STOCK

     All cash contributions to the Trust made by the Bank and any other cash
received by the Trust (excluding dividends received by the Trust on Employer
Stock which are directed by the Bank to be distributed to Plan Participants
pursuant to Section 9.1), will first be applied to outstanding current
obligations of the Trust, and any excess will be used, at the discretion of the
Trustee, to repay obligations of the Trust, to buy Employer Stock from holders
of outstanding stock or newly issued or treasury stock from the Bank, or the
Trustee may invest such funds of the Trust in savings accounts, certificates of
deposit, short-term commercial paper, stocks, bonds, insurance policies, or
other investments deemed to be desirable for the Trust, or such funds may be
held temporarily in cash.

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     4.2    PURCHASE PRICE OF EMPLOYER STOCK

     All purchases of Employer Stock by the Trust will be made at a price, or at
prices, which, in the judgment of the Trustee, do not exceed the fair market
value of such Employer Stock. The fair market value of Employer Stock shall be
the price at which such stock trades on an established securities market, or if
such stock is not readily tradable on an established securities market, the fair
market value of Employer Stock shall be determined by an independent appraiser
as defined in Code Section 401(a)(28). In making such determination, the
appraiser shall consider the following criteria:

     (a)    Any current and historical practices which have been consistently
and uniformly utilized to value Employer Stock in sales transactions between the
Bank and the stockholders, or among and between stockholders.

     (b)    Any restrictions or limitations imposed upon the sale or transfer
of Employer Stock which establish or stipulate the price at which the Bank may
or must purchase such stock under the provisions of its charter of any or
written agreements, provided the same or similar restrictions are applicable to
substantially all of the outstanding Employer Stock and are complied with
uniformly and consistently.

     (c)    Such other information concerning the Bank and its condition and
prospects, financial and otherwise, generally used in the determination of the
fair market value of corporate stock of comparable public or private companies
engaged in the same or similar industries, by independent investment analysts
nationally recognized as having expertise in rendering such evaluations.

     4.3    DIVERSIFICATION OF INVESTMENTS

     (a)    Each Participant in the Plan who has attained age fifty-five (55)
and has completed at least ten (10) years of participation in the Plan shall be
permitted to elect,  as to not more than  twenty-five  percent (25%) (reduced by
amounts  previously  diversified) of his or her Employer Stock Account,  to have
Employer  Stock in such amount  liquated from his or her Employer  Stock Account
and  transferred to his or her Other  Investment  Account.  This election may be
made within the period of ninety (90) days  following  the end of each Plan Year
during the six (6) Plan Year period  beginning with the first Plan Year in which
the Participant  became  eligible to make the election.  In the case of the last
year to which an election applies,  fifty percent (50%) shall be substituted for
twenty-five percent (25%).

     (b)    For the purpose of facilitating elective diversification hereunder,
the Trustee may make available under the Participant's Other Investment Account
at least three investment vehicle alternatives to the investment of assets of
the Trust in qualified employer securities that comply with the requirements of
Code Section 401(a)(28) and any applicable Regulation.

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     (c)    The Trustee shall comply with any diversification election under
this Section 4.3 within ninety (90) days following the ninety (90) day election
period by (i) substituting other investment assets for the amount of qualified
employer securities as to which the election is made, or (ii) distributing to
the Participant an amount equal to the amount for which diversification was
elected.

     4.4    BORROWING TO ACQUIRE EMPLOYER STOCK

     The Trustee may borrow funds from any lender for the purpose of purchasing
Employer Stock, and may enter into contracts for the purchase of Employer Stock
pursuant to which the purchase price is paid in installments. Any such loan or
contract must be primarily for the benefit of Participants and their
Beneficiaries, and shall comply with the following terms and conditions:

     (a)    The interest rate respecting such loan shall not exceed a reasonable
rate of interest. The Trustee shall consider all relevant factors in determining
a reasonable rate of interest, including the amount and duration of the loan or
contract, the security and guarantee (if any) involved, the credit standing of
the Trust and the Bank (if and to the extent that the Bank acts as guarantor),
and the interest rate prevailing for comparable loans. Upon due consideration of
the foregoing factors, a variable interest rate may be reasonable.

     (b)    At the time that such loan is made or contract entered into, the
interest rate and the price of securities to be acquired should not be such that
Plan assets might be dissipated.

     (c)    The terms of such loan or contract, whether or not between
independent parties, must be at such time at least as favorable to the Trust as
the terms of a comparable loan or contract resulting from arm's-length
negotiations between independent parties.

     (d)    The proceeds of such loan must be used within a reasonable time
after their receipt by the Trust only to acquire Employer Stock, to repay such
loan, or to repay a prior loan to the Trust.

     (e)    Such loan must be without recourse against the Trust. The only
assets of the Trust that may be given as collateral on such loan are shares of
Employer Stock acquired therewith. No person entitled to payment under such loan
shall have any right to assets of the Trust other than collateral given for such
loan, cash contributions of the Bank made to meet the obligations of the Trust
under such loan, and earnings attributable to such collateral and the investment
of such contributions. The payments made with respect to such loan by the Trust
during a Plan Year must not exceed an amount equal to the sum of such
contributions and earnings received during or prior to the year less such
payments in prior years. Such contributions and earnings must be accounted for
separately on the books of account of the Trust, until the loan is repaid.

     (f)    In the event of default on such loan, the value of Plan assets
transferred in satisfaction of the loan must not exceed the amount of default.

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     (g)    Shares of Employer Stock used as collateral for such loan shall be
released from the encumbrance thereof, in accordance with the provisions of
Section 4.5.

     (h)    Such loan shall be for a specific term, and not payable at the
demand of any person (except in the case of default).

     (i)    Except as otherwise provided under the terms of this Plan and Trust,
or as otherwise required by applicable law, no Employer Stock acquired with the
proceeds of such loan shall be subject to a put, call or other option, or
buy-sell or similar arrangement while held by and when distributed from the
Trust, whether or not the Trust is then an employee stock ownership plan as
described in Code Section 4975(e)(7).

     4.5    RELEASE OF SHARES

     All shares of Employer Stock acquired by the Trust and pledged as
collateral on a loan described in Section 4.4 shall be credited to the Suspense
Account and shall be released as follows:

     (a)    For each Plan Year during the duration of the loan, the number of
shares of Employer Stock released shall equal the original number of encumbered
shares multiplied by a fraction in which the numerator is the amount of
principal paid to the lender by the Trust for the year, and the denominator is
the original principal amount outstanding at the commencement of the loan. The
foregoing allocation method shall apply only if the loan provides for annual
payments of principal and interest at a cumulative rate that is not less rapid
at any time than level annual payments of such amounts for ten (10) years.
Further shares released from encumbrance shall be determined solely with
reference to principal payments and interest included in any payments shall be
disregarded only to the extent that the interest would be determined to be
interest under standard loan amortization tables. If at any time, by reason of a
renewal, extension, or refinancing, the sum of the expired duration of the
exempt loan, the renewal period, the extension period, and the duration of a new
exempt loan exceeds ten (10) years, or if, at any time, the other terms and
conditions of this Section 4.5(a) are not met, then from such time shares of
Employer Stock shall be released pursuant to Section 4.5(b).

     (b)    If the allocation method set forth in Section 4.5(a) is not
applicable, then shares of Employer Stock shall be released as follows: For each
Plan Year during the duration of the loan, the number of shares of Employer
Stock released shall equal the number of encumbered shares held immediately
before release by a fraction. The numerator of the fraction is the amount of
principal and interest paid to the lender by the Trust for the year, and the
denominator of the fraction is the sum of the numerator plus the principal and
interest to be paid for all future years. For purposes of the foregoing
determination, the number of future years under the loan must be definitely
ascertainable, and shall be determined without taking into account any possible
extensions or renewal periods. If the interest rate under the loan is variable,
the interest to be paid in future years shall be computed by using the interest
rate applicable as of the end of the Plan Year.

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     (c)    To the extent of the foregoing release from encumbrance pursuant to
Sections 4.5(a) or (b), shares shall be withdrawn from the Suspense Account and
shall be allocated for each Plan Year as provided in Section 5.4.

                                  V. ACCOUNTING

     5.1    ACCOUNTING FOR TRUST ASSETS

     The Trustee shall keep accurate and detailed accounts of all investments,
receipts and disbursements and other transactions under the Trust. As of the
last day of each Plan Year, the Trustee shall make a determination of the
current fair market value of all Trust assets. In so doing, the Trustee shall:

            (i)    Credit to the Trust all income of the Trust for such year
     (including dividends on Employer Stock);

            (ii)   Charge to the Trust all losses and expenses of the Trust for
     such year;

            (iii)  Credit to the Trust all contributions of the Bank (whether in
     cash or in kind); and

            (iv)   Make a determination as to the current fair market value of
     all assets of the Trust, including Employer Stock in accordance with
     Section 4.2.

     5.2    TREATMENT OF ENCUMBERED SHARES

     In computing the fair market value of all assets held in the Trust, shares
of encumbered Employer Stock (i.e., those shares standing as collateral for a
loan or loans described at Section 4.4 above) shall be disregarded.

     5.3    SEPARATE RECORDS OF PARTICIPANTS

     The Trustee shall keep accurate accounts of the respective share of each
Participant in the Trust assets. Each account shall separately state the number
of shares of Employer Stock allocated to the Participants' accounts each year
under Section 5.4. The share of each Participant in the Trust assets as of any
date of determination shall be the fair market value of such assets as of the
preceding Valuation Date.

     5.4    ALLOCATION AMONG PARTICIPANT ACCOUNTS

     As of each Anniversary Date, the Trustee shall allocate the Banks
contribution under Section 3.1 to the Account of each Participant who has
completed 1,000 Hours of Service during the Plan Year in the same proportion
that each such Participant's Compensation for such year bears to the aggregate
of the Compensation of all Participants for such year.

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     (a)    The Account of each Participant will be credited as of each
Anniversary Date with its allocable share(s) of Employer Stock (including
fractional shares rounded to the nearest one-hundredth of a share) purchased and
paid for by the Plan or contributed in kind by the Bank and with stock dividends
on Employer Stock held in such Participant's Account. Employer Stock acquired by
the Plan with the proceeds of a loan described in Section 4.4 above will only be
allocated to each Participant's Account upon release from encumbrance pursuant
to Section 4.5. The Employer Stock received by the Trust during a Plan Year with
respect to a contribution by the Bank for the preceding Plan Year shall be
allocated to the accounts of Participants as of the Anniversary Date at the end
of such preceding Plan Year. Each Participant's Other Contributions Account will
be credited as of each Anniversary Date with his or her allocable share of the
Bank's contribution that does not consist of Employer Stock, and shall be
debited with payments made to pay for Employer Stock, or to repay a loan
described in Section 4.4.

     (b)    Net income (or loss) of the Trust will be determined annually as of
each Anniversary Date. A share thereof will be allocated to each Participant's
Account in the ratio in which the balance of his or her Account on the preceding
Anniversary Date bears to the sum of the balances for the Accounts of all
Participants on that date. The net income (or loss) includes the increase (or
decrease) in the fair market value of assets of the Trust (other than Employer
Stock), interest, dividends, other income and expenses attributable to assets in
the Accounts (other than Employer Stock) since the preceding Anniversary Date.
Net income (or loss) does not include the interest paid under any installment
contract for the purchase of Employer Stock by the Trust or on any loan used by
the Trust to purchase Employer Stock, nor does it include income received by the
Trust with respect to Employer Stock acquired with the proceeds of a loan
described in Section 4.4 to the extent such income is used to repay the loan.

     (c)    Shares of Employer Stock released from encumbrance as a result of
dividends paid on Employer Stock will be allocated to each Participant's Account
in the ratio of the balance in his or her account on the preceding Anniversary
Date to the sum of the balances for the Accounts of all Participants on that
date.

     (d)    Despite the foregoing, any diversification of investments made
pursuant to Section 4.3 shall be deemed an earmarked investment made for such
Participant's benefit. Accordingly, all interest and other earnings attributable
to such earmarked investments shall be allocated and credited exclusively to the
Other Investment Account of the Participant who has made such election. At the
time of electing such diversification of investments, the electing Participant's
Employer Stock Account shall be reduced by the number of shares of Employer
Stock which are equal in value as of the last Valuation Date to the amount of
the diversified investments or the amount distributed to the Participant
pursuant to Section 4.3.

     (e)    The Bank shall establish accounting procedures for the purpose of
making the allocations, valuations and adjustments to Participants' Accounts
provided for in this Section 5.4.

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     (f)    In the case of a Participant who is entitled to have credited to his
or her Account a portion of the Bank's contribution for a Plan Year but whose
employment is terminated after the close of such year and before actual
contributions have been made to the Trust, the allocations with respect to such
contributions shall be made as though such Employee's employment had not
terminated.

     5.5    ANNUAL REPORT TO PARTICIPANTS

     As soon as practicable after each Anniversary Date, the Trustee shall
prepare a written statement for distribution to each Participant reflecting the
number of shares of Employer Stock allocated to such Participant's Account as of
the Anniversary Date preceding the most recent Anniversary Date, the additional
number of shares of Employer Stock allocated to him or her for the Plan Year
ending on the most recent Anniversary Date, and the aggregate number of shares
of Employer Stock allocated to date to his or her Account. The written statement
shall also indicate the dollar value of the Participant's shares of Employer
Stock, based upon the most recent revaluation of the assets of the Trust.

     5.6    VOTING

     The Trustee shall vote all shares of Employer Stock held in the Trust in
accordance with the following provisions:

     (a)    Shares of Employer Stock which have been allocated to Participants'
Accounts shall be voted by the Trustee in accordance with the Participants'
written instructions.

     (b)    Shares of Employer Stock which have been allocated to Participants'
Accounts but for which no written instructions have been received by the Trustee
regarding voting shall be voted by the Trustee in a manner calculated to most
accurately reflect the instructions the Trustee has received from Participants
regarding voting shares of allocated Employer Stock. Shares of unallocated
Employer Stock shall also be voted by the Trustee in a manner calculated to most
accurately reflect the instructions the Trustee has received from Participants
regarding voting shares of allocated Employer Stock. Despite the forgoing, all
shares of Employer Stock which have been allocated to Participants' Accounts and
for which the Trustee has not timely received written instructions regarding
voting and all unallocated shares of Employer Stock must be voted by the Trustee
in a manner determined by the Trustee to be solely in the best interests of the
Participants and Beneficiaries.

     (c)    In the event no shares of Employer Stock have been allocated to
Participants' Accounts at the time Employer Stock is to be voted, each
Participant shall be deemed to have one share of Employer Stock allocated to his
Accounts for the sole purpose of providing the Trustee with voting instructions.

     (d)    Whenever voting rights are to be exercised under this Section 5.6,
the Bank, the Administrative Committee, and the Trustee shall see that all
Participants and Beneficiaries are provided with the same notices and other
materials as are provided to

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other holders of the Employer Stock, and are provided with adequate opportunity
to deliver their instructions to the Trustee regarding the voting of Employer
Stock allocated to their Accounts or deemed allocated to their Accounts for
purposes of voting. The instructions of the Participants with respect to the
voting of shares of Employer Stock shall be confidential.

     (e)    In the event of a tender offer, Employer Stock shall be tendered by
the Trustee in the same manner set forth in subsection (a) through (d) above
regarding the voting of Employer Stock.

     5.7    LIST OF PARTICIPANTS

     On or about each Anniversary Date, the Bank shall deliver to the Trustee a
list of all Eligible Employees to whom Compensation was paid or payable for such
year, together with a statement of the amount of such Compensation.

     5.8    MAXIMUM ANNUAL ADDITIONS

     Despite the foregoing, the maximum annual additions credited to a
Participant's accounts for any limitation year shall equal the lesser of (i)
$40,000, as adjusted for increases in the cost of living under Code Section
415(c)(3), or (ii) one hundred percent (100%) of the Participant's 415
Compensation for such limitation year; provided, however, that the 415
Compensation percentage limitation referred to in clause (ii) shall not apply to
any contribution for medical benefits (within the meaning of Code Section
419A(f)(2)) after separation from service which is otherwise treated as an
annual addition, or any amount otherwise treated as an annual addition under
Code Section 415(l)(1).

     (a)    For purposes of applying the limitations of Code Section 415,
"annual additions" means the sum credited to a Participant's accounts for any
limitation year of:

            (i)    Employer contributions,

            (ii)   Employee contributions,

            (iii)  Forfeitures,

            (iv)   Amounts allocated to an individual medical account, as
                   defined in Code Section 415(l)(2) which is part of a pension
                   or annuity plan maintained by the Bank or any Affiliated
                   Employer, and

            (v)    Amounts derived from contributions paid or accrued, which are
                   attributable to post-retirement medical benefits allocated to
                   the separate account of a key employee (as defined in Code
                   Section 419A(d)(3) ) under a welfare benefit plan (as defined
                   in Code Section 419(e)) maintained by the Bank or any
                   Affiliated Employer.

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     (b)    For purposes of applying the limitations of Code Section 415, the
transfer of funds from one qualified plan to another is not an annual addition.
In addition, the following are not employee contributions: (i) rollover
contributions (as defined in Code Sections 402(a)(5), 403(a)(4), 403(b)(8) and
408(d)(3), (ii) repayments of loans made to a Participant from the Plan, (iii)
repayments of distributions received by an Employee pursuant to Code Section
411(a)(7)(B) (cash-outs), (iv) repayments of distributions received by an
employee pursuant to Code Section 411(a)(3)(D) (mandatory contributions), and
(v) Employee contributions to a simplified employee pension excludable from
gross income under Code Section 408(k)(6).

     (c)    For purposes of applying the limitations of Code Section 415, 415
Compensation shall include the Participant's wages, salaries, fees for
professional services and other amounts for personal services actually rendered
in the course of employment with an employer maintaining the Plan (including,
but not limited to, commissions paid salesmen, compensation for services on the
basis of a percentage of profits, commissions on insurance premiums, tips and
bonuses and in the case of a Participant who is an employee within the meaning
of Code Section 401(c)(1) and the accompanying Regulation, the Participant's
earned income (as described in Code Section 401(c)(2) and the accompanying
Regulation) paid during the limitation year and including any elective deferrals
(as defined in Code Section 402(g)(3)), and any amount which is contributed or
deferred by the Bank or any Bank or any Affiliated Employer at the election of
the employee and which is not currently includible in the gross income of the
Employee by reason of Code Sections 125, 132(f) or 457.

     (d)    "415 Compensation" shall exclude (i) any distributions from a plan
of deferred compensation regardless of whether such amounts are includable in
the gross income of the Employee when distributed except any amounts received by
an Employee pursuant to an unfunded non-qualified plan to the extent such
amounts are includable in the gross income of the Employee; (ii) amounts
realized from the exercise of a non-qualified stock option or when restricted
stock (or property) held by an Employee either becomes freely transferable or is
no longer subject to a substantial risk of forfeiture; (iii) amounts realized
from the sale, exchange or other disposition of stock acquired under a qualified
stock option; and (iv) other amounts which receive special tax benefits, such
premiums for group term life insurance (but only to the extent that the premiums
are not includable in the gross income of the Employee), or contributions made
by the Bank any Affiliated Employer (whether or not under a salary reduction
agreement) towards the purchase of any annuity contract described in Code
Section 403(b) (whether or not the contributions are excludable from the gross
income of the Employee).

     (e)    For purposes of applying the limitations of Code Section 415, the
limitation year shall be the Calendar Year.

     (f)    The dollar limitation under Code Section 415(b)(1)(A) stated in this
Section 5.8 shall be adjusted annually as provided in Code Section 415(d)
pursuant to the Regulations. The adjusted limitation is effective as of January
l of each calendar year and is applicable to limitation years ending with or
within those calendar years.

                                       10
<Page>

     (g)    For the purpose of this Section 5.8, all qualified defined benefit
plans (whether or not terminated) every maintained by the Bank shall be treated
as one defined benefit plan, and all qualified defined contribution plans
(whether or not terminated) every maintained by the Bank shall be treated as one
defined contribution plan.

     (h)    For the purpose of this Section 5.8, if the Bank is a member of a
controlled group of corporations, trades or businesses under common control (as
defined by Code Section 1563(a) or Code Section 414(b) and Code Section 414(c)
as modified by Code Section 415(h)), is a member of an affiliated service group
(as defined by Code Section 414(m)), or is a member of a group of entities
required to be aggregated pursuant to Regulations under Code Section 414(o), all
Employees of such employers shall be considered to be employed by a single
employer.

     (i)    If a Participant participates in more than one defined contribution
plan maintained by the Bank or any Affiliated Employer which have different
Anniversary Dates, the maximum annual additions under the Plan shall equal the
maximum annual additions for the limitation year minus any annual additions
previously credited to such Participant's accounts during the limitation year.

     (j)    If a Participant participates in both a defined contribution plan
subject to Code Section 412 and a defined contribution plan not subject to Code
Section 412 maintained by the Bank or any Affiliated Employer which have the
same Anniversary Date, annual additions will be credited to the Participant's
accounts under the defined contribution plan subject to Code Section 412 prior
to crediting annual additions to the Participant's accounts under the defined
contribution plan not subject to Code Section 412.

     (k)    If a Participant participates in more than one defined contribution
plan not subject to Code Section 412 maintained by the Bank or any Affiliated
Employer which have the same Anniversary Date, the maximum annual additions
under this Plan shall equal the product of (A) the maximum annual additions for
the limitation year minus any annual additions previously credited multiplied by
(B) a fraction (i) the numerator of which is the annual additions that would be
credited to such Participant's accounts under this Plan without regard to the
limitations of Code Section 415 and (ii) the denominator of which is such annual
additions for all plans described in this Section 5.8.

     (l)    Despite any contrary provision of this Section 5.8, the limitations,
adjustments and other requirements prescribed in this Section 5.8 shall at all
times comply with the provisions of Code Section 415 and the Regulation
thereunder, the terms of which are specifically incorporated herein by
reference.

     5.9    ADJUSTMENT FOR EXCESSIVE ADDITIONS

     If, as a result of the allocation of Forfeitures, a reasonable error in
estimating a Participant's Compensation or other facts and circumstances to
which Regulation Section 1.415-6(b)(6) shall be applicable, the annual additions
under the Plan would cause the maximum annual additions to be exceeded for any
Participant, the Administrative Committee shall (i) return any voluntary
Employee contributions credited for the

                                       11
<Page>

limitation year to the extent that the return would reduce the excess amount in
the Participant's Account, (ii) hold any excess amount remaining after the
return of any voluntary Employee contributions in a Code Section 415 suspense
account (as defined in Section 5.9(b)), (iii) allocate and reallocate the Code
Section 415 suspense account in the next limitation year (and succeeding
limitation years if necessary) to all Participants in the Plan before any
employer or employee contributions which would constitute annual additions are
made to the Plan for such limitation year, and (iv) reduce contributions to the
Plan for such limitation year by the amount of the Code Section 415 suspense
account allocated and reallocated during such limitation year.

     (a)    The excess amount for any Participant for a limitation year shall
mean the excess, if any, of (i) the annual additions that would be credited to
his or her account under the terms of the Plan without regard to the limitations
of Code Section 415 over (ii) the maximum annual additions determined pursuant
to Section 5.8.

     (b)    For purposes of this Section 5.9, " Code Section 415 suspense
account" means an unallocated account equal to the sum of excess amounts for all
Participants in the Plan during the limitation year. The Code Section 415
suspense account shall not share in any earnings or losses of the Fund.

     (c)    The Plan may not distribute excess amounts, other than voluntary
Employee contributions, to Participants or Former Participants.

                                   VI. VESTING

     6.1    VESTING

     In the event of termination or severance of a Participant's employment, the
Trustee shall determine the vested portion of the Participant's Account as of
the immediately preceding Valuation Date in accordance with the following
schedule:

<Table>
<Caption>
                  YEARS OF SERVICE         VESTED PORTION
                  ----------------         --------------
                  <S>                      <C>
                  Less than One Year       0%

                  One Year                 20%

                  Two Years                40%

                  Three Years              60%

                  Four Years               80%

                  Five Years               100%
</Table>

                                       12
<Page>

     6.2    FORFEITURES

     Any amount not vested under the foregoing vesting schedule shall become a
Forfeiture. As of each Anniversary Date, any amounts which became Forfeitures
since the last Anniversary Date shall first be made available to reinstate
previously forfeited account balances of Former Participants, if any, in
accordance with this Section 6.2. The remaining Forfeitures, if any, shall be
added to the Bank's discretionary contribution pursuant to Section 3.1 and for
the Plan Year in which such Forfeitures occur allocated among the Accounts of
Participants in the same manner as the Bank's discretionary contribution for the
current year. Despite the forgoing, if the allocation of Forfeitures causes the
annual addition (as defined in Section 5.8) to any Participant's Account to
exceed the amount allowable by the Code, the excess shall be reallocated in
accordance with Section 5.9, except that Participants who perform less than a
Year of Service during any Plan Year or are not employed on the last day of the
Plan Year shall not share in Forfeitures for that year.

     (a)    The computation of a Participant's non-forfeitable percentage of his
interest in the Plan shall not be reduced as the result of any direct or
indirect amendment to this Plan. A Participant with at least three (3) Years of
Service as of the election period may elect to have his or her non-forfeitable
percentage computed under the Plan without regard to such new vesting schedule.

     (b)    For purposes of applying this schedule to any Participant who has
incurred five (5) consecutive One-Year Breaks in Service, Years of Service after
such period shall not be taken into account for determining the non-forfeitable
percentage of his or her Account accrued before such period began.

     (c)    If any former Participant shall be reemployed by the Bank before a
One-Year Break in Service occurs, he shall continue to participate in the Plan
in the same manner as if such termination had not occurred.

     (d)    If any former Participant shall be reemployed by the Bank before
five (5) consecutive One-Year Breaks in Service, and such former Participant had
received a distribution of his or her entire vested interest prior to his or her
reemployment, his or her forfeited Account shall be reinstated only if he or she
repays the full amount distributed before the earlier of five (5) years after
the first date on which the Participant is subsequently reemployed by the Bank
or the close of the first period of five (5) consecutive One-Year Breaks in
Service commencing after distribution. If a distribution occurs for any reason
other than a separation from service, the time for repayment may not end earlier
than five (5) years after the date of separation. If the former Participant does
repay the full amount distributed to him or her, the undistributed portion of
the Participant's Account must be restored in full, unadjusted by any gains or
losses occurring subsequent to the Anniversary Date or other valuation date
first preceding his or her termination.

                                       13
<Page>

     (e)    If any Former Participant is reemployed after a One-Year Break in
Service, Years of Service shall include Years of Service prior to his or her
One-Year Break in Service subject to the following rules:

            (i)    If a Former Participant has a One- Year Break in Service, his
                   or her pre-Break and post-Break Service shall be used for
                   computing Years of Service for vesting purposes only after he
                   or she has been employed for one (1) Year of Service
                   following the date of his reemployment with the Bank;

            (ii)   Any Former Participant who under the Plan does not have a
                   non- forfeitable right to any interest in the Plan resulting
                   from Bank contributions shall lose credits otherwise
                   allowable under clause (i) if his or her consecutive One-Year
                   Breaks in Service equal or exceed the greater of (A) five (5)
                   or (B) the aggregate number of his or her pre-Break Years of
                   Service; and

            (iii)  After five (5) consecutive One-Year Breaks in Service, a
                   Former Participant's vested Account balance attributable to
                   pre-Break Service shall not be increased as a result of
                   post-Break Service.

     6.3    NORMAL RETIREMENT AGE, ETC

     Despite the provisions of this Article VI, if a Participant's services are
terminated (i) upon or after he or she attains age 65, or (ii) on account of
disability determined by competent medical authority acceptable to the
Administrative Committee, or (iii) by his or her death, then the forfeiture
provisions contained in Section 6.2 shall not apply.

                               VII. DISTRIBUTIONS

     7.1    FORM OF DISTRIBUTION

     Distribution of benefits will be made entirely in whole shares of Employer
Stock except that the value of any fractional share and any portion of the
Participant's Other Investment Account which has been diversified in accordance
with Section 4.3 will be paid in cash. Any non-diversified balance in a
Participant's account not invested in Employer Stock will be used to acquire for
distribution to such Participant the maximum number of whole shares of Employer
Stock at the then fair market value, and any unexpended balance will be
distributed to such Participant in cash. In lieu of distributing Employer Stock
to a Participant, at the direction of the Bank, the Trustee may distribute all
or a portion of a Participant's benefit in cash. Prior to commencing such a cash
distribution, the Trustee shall notify the Participant, or his Beneficiary, in
writing that he has the right to demand in writing that his benefits be
distributed in the form of Employer Stock. Such right shall expire thirty (30)
days after the receipt of such notice by the Participant or his Beneficiary.

                                       14
<Page>

     7.2    TIMING OF DISTRIBUTION OF BENEFITS

     Distributions of a Participant's account balance (whether in the form of
Employer Stock and/or cash) shall be made as follows:

     (a)    If the Participant's vested interest in the Plan does not exceed One
Thousand Dollars ($1,000), the entire vested benefit shall be distributed to the
Participant in a lump sum payment prior to the Second Anniversary Date following
his or her termination of employment. The determination of whether the
Participant's vested interest in the Plan exceeds One Thousand Dollars ($1,000)
shall be made by including that portion of his or her Account that is
attributable to rollover contributions (and earnings allocable thereto) within
the meaning of Code Sections 402(c), 403(a)(4), 403(b)(8), 408(d)(3)(a)(ii), and
457(e)(16).

     (b)    If the Participant's vested interest in the Plan exceeds One
Thousand Dollars ($1,000) but is less than Ten Thousand Dollars ($10,000), then,
with the consent of the Participant, the entire vested benefit shall be
distributed to the Participant in a lump sum payment prior to the Second
Anniversary Date following his or her termination of employment. If a
Participant does not consent to such a distribution, then his or her vested
interest shall be distributed to the Participant in a lump sum payment prior to
the Anniversary Date ending the Plan Year in which the Participant attains the
Normal Retirement Age.

     (c)    If the Participant's vested interest in the Plan is Ten Thousand
Dollars ($10,000) or more, then, with the consent of the Participant, the entire
vested benefit shall be distributed as follows:

            (i)    If the Participant terminates employment after attainment of
                   age 65, or because of Disability or death, payments will
                   commence no later than the Anniversary Date ending the Plan
                   Year which follows the Plan Year in which the Participant's
                   employment was terminated. Payments will be made in
                   substantially equal annual installments over a five-year
                   period.

            (ii)   If the Participant terminates employment for any other
                   reason, payments will commence no later than the Anniversary
                   Date ending the fifth Plan Year following the Plan Year in
                   which the Participant's employment was terminated. Payments
                   will be made in substantially equal annual installments over
                   a five-year period.

     (d)    If a Participant does not consent to the distributions as provided
in Section 7.2(c) above, then the Participant's vested interest in the Plan
shall be distributed in five substantially equal annual installments commencing
no later than the Anniversary Date ending the Plan Year following the Plan Year
in which the Participant attains the Normal Retirement Age.

     (e)    Despite the foregoing:

                                       15
<Page>

            (i)    If the Participant's vested interest in the Plan is more than
                   Eight Hundred Eighty Five Thousand Dollars ($885,000) (in
                   2006), the five-year distribution period referred to in
                   Section 7.2(c) shall be extended one additional year (but not
                   more than five additional years) for each One Hundred Seventy
                   Five Thousand Dollars ($175,000) or fraction thereof by which
                   his or her vested interest exceeds Eight Hundred Eighty Five
                   Thousand Dollars ($850,000). These dollar amounts shall be
                   adjusted at the same time and in the same manner as provided
                   in Code Section 415(d) .

            (ii)   The Bank may modify distribution options in a
                   nondiscriminatory manner as provided in Code Section
                   411(d)(6)(C) .

            (iii)  The distribution of that portion of a Participant's Account
                   that is attributable to Employer Stock acquired with the
                   proceeds of a loan described in Section 4.4 may be delayed
                   until the close of the Plan Year in which such loan is repaid
                   in full.

     7.3    DEATH BENEFITS; DESIGNATION OF BENEFICIARY

     At any time and from time to time, each Participant and each Beneficiary
shall have the right to designate the person who shall receive the amount
payable under this Plan on his or her death, and to revoke such designation, as
limited by this Section 7.3.

     (a)    Each designation shall be evidenced by a written instrument filed
with the Trustee, signed by the Participant or Beneficiary. If no such
designation is on file with the Trustee at the time of the death of the
Participant or Beneficiary, or if the designation is not effective for the any
of the reasons stated in this Section or any other reasons, then the person
conclusively deemed to be the person so designated as Beneficiary shall be (i)
the surviving spouse of the Participant or Beneficiary or (ii) if the
Participant or Beneficiary has no surviving spouse, the estate of such
Participant or Beneficiary. The Beneficiary of the death benefit payable
pursuant to this Section 7.3 shall be the Participant's spouse. A Participant
may designate a Beneficiary other than his spouse if:

            (i)    The spouse has waived the right to be the Participant's
                   Beneficiary,

            (ii)   The Participant is legally separated or has been abandoned
                   (within the meaning of local law) and the Participant has a
                   court order to such effect (and there is no "qualified
                   domestic relations order" as defined in Code Section 414(p)
                   ("QDRO") that provides otherwise),

            (iii)  The Participant has no spouse, or

            (iv)   The spouse cannot be located.

     (b)    A Participant may at any time revoke his designation of a
Beneficiary or change his Beneficiary by filing written notice of such
revocation or change with the Committee. However, the Participant's spouse must
again consent in writing to any

                                       16
<Page>

change in Beneficiary unless the original consent acknowledged that the spouse
had the right to limit consent only to specific Beneficiary and that the spouse
voluntarily elected to relinquish such right. If no valid designation of
Beneficiary exists at the time of the Participant's death, the death benefit
shall be payable to his estate. Any consent by the Participant's spouse to waive
any rights to the death benefit must be in writing, must acknowledge the effect
of such waiver, and be witnessed by a Plan representative or a notary public.
Further, the spouse's consent must be irrevocable and must acknowledge the
specific non-spouse Beneficiary.

     7.4    BANK CERTIFICATION

     The Bank shall certify to the Administrative Committee and the Trustee, in
the event of termination of the employment of any Participant, as to the date of
such termination.

     7.5    MINIMUM DISTRIBUTION REQUIREMENTS

     The requirements of this Section 7.5 and the following Sections 7.6 through
7.9 take precedence over any inconsistent provisions of the Plan. All
distributions required under this Sections 7.6 through 7.9 will be determined
and made in accordance with the Regulations Section 1.401(a)(9).

     7.6    TIME AND MANNER OF MINIMUM REQUIRED DISTRIBUTIONS

     (a)    Required Beginning Date.

     The Participant's entire interest will be distributed, or begin to be
distributed, to the Participant no later than the Participant's required
beginning date.

     (b)    Death of Participant Before Distributions Begin.

     If the Participant dies before distributions begin, the Participant's
entire interest will be distributed, or begin to be distributed, no later than
as follows:

            (i)    If the Participant's surviving spouse is the Participant's
                   sole designated beneficiary, then distributions to the
                   surviving spouse will begin by December 31 of the calendar
                   year immediately following the calendar year in which the
                   Participant died, or by December 31 of the calendar year in
                   which the Participant would have attained age 70-1/2 , if
                   later.

            (ii)   If the Participant's surviving spouse is not the
                   Participant's sole designated beneficiary, then distributions
                   to the designated beneficiary will begin by December 31 of
                   the calendar year immediately following the calendar year in
                   which the Participant died.

                                       17
<Page>

            (iii)  If there is no designated beneficiary as of September 30 of
                   the year following the year of the Participant's death, the
                   Participant's entire interest will be distributed by December
                   31 of the calendar year containing the fifth anniversary of
                   the Participant's death.

            (iv)   If the Participant's surviving spouse is the Participant's
                   sole designated beneficiary and the surviving spouse dies
                   after the Participant but before distributions to the
                   surviving spouse begin, this Section 7.6(b), other than
                   Section 7.6(b)(i), will apply as if the surviving spouse were
                   the Participant.

     For purposes of Sections 7.6(a) and (b), unless Section 7.6(b)(iv) applies,
     distributions  are  considered  to  begin  on  the  Participant's  required
     beginning date. If Section 7.6(b)(iv) applies, distributions are considered
     to begin on the date  distributions  are required to begin to the surviving
     spouse under Section 7.6(b)(i). If distributions under an annuity purchased
     from an insurance company  irrevocably  commence to the Participant  before
     the  Participant's   required  beginning  date  (or  to  the  Participant's
     surviving  spouse) before the date  distributions  are required to begin to
     the surviving spouse under subsection  (b)(i),  the date  distributions are
     considered to begin is the date distributions actually commence.

     (c)    Forms of Distribution.

     Unless the Participant's interest is distributed in the form of an annuity
purchased from an insurance company or in a single sum on or before the required
beginning date, as of the first distribution calendar year, distributions will
be made in accordance with Sections 7.7 and 7.8. If the Participant's interest
is distributed in the form of an annuity purchased from an insurance company,
distributions thereunder will be made in accordance with the requirements of
Code Section 401(a)(9) and applicable Regulations.

     7.7    REQUIRED MINIMUM DISTRIBUTIONS DURING PARTICIPANT'S LIFETIME

     (a)    During the Participant's lifetime, the minimum amount that will be
distributed for each distribution calendar year is the lesser of:

            (i)    the quotient obtained by dividing the Participant's account
                   balance by the distribution period in the Uniform Lifetime
                   Table set forth in Regulation Section 1.401(a)(9)-9, using
                   the Participant's age as of the Participant's birthday in the
                   distribution calendar year; or

            (ii)   if the Participant's sole designated beneficiary for the
                   distribution calendar year is the Participant's spouse, the
                   quotient obtained by dividing the Participant's account
                   balance by the number in the Joint and Last Survivor Table
                   set forth in Regulation Section 1.401(a)(9)-9, using the
                   Participant's and spouse's attained ages as of the
                   Participant's and spouse's birthdays in the distribution
                   calendar year.

                                       18
<Page>

     (b)    Required minimum distributions will be determined beginning with the
first distribution calendar year and up to and including the distribution
calendar year that includes the Participant's date of death.

     7.8    REQUIRED MINIMUM DISTRIBUTIONS AFTER PARTICIPANT'S DEATH

     (a)    Death On or After Date Distributions Begin.

            (i)    Participant Survived by Designated Beneficiary. If the
                   Participant dies on or after the date distributions begin and
                   there is a designated beneficiary, the minimum amount that
                   will be distributed for each distribution calendar year after
                   the year of the Participant's death is the quotient obtained
                   by dividing the Participant's account balance by the longer
                   of the remaining life expectancy of the Participant or the
                   remaining life expectancy of the Participant's designated
                   beneficiary, determined as follows:

                         (A) The Participant's remaining life expectancy is
                   calculated using the age of the Participant in the year of
                   death, reduced by one for each subsequent year.

                         (B) If the Participant's surviving spouse is the
                   Participant's sole designated beneficiary, the remaining life
                   expectancy of the surviving spouse is calculated for each
                   distribution calendar year after the year of the
                   Participant's death using the surviving spouse's age as of
                   the spouse's birthday in that year. For distribution calendar
                   years after the year of the surviving spouse's death, the
                   remaining life expectancy of the surviving spouse is
                   calculated using the age of the surviving spouse as of the
                   spouse's birthday in the calendar year of the spouse's death,
                   reduced by one for each subsequent calendar year.

                         (C) If the Participant's surviving spouse is not the
                   Participant's sole designated beneficiary, the designated
                   beneficiary's remaining life expectancy is calculated using
                   the age of the beneficiary in the year following the year of
                   the Participant's death, reduced by one for each subsequent
                   year.

            (ii)   No Designated Beneficiary. If the Participant dies on or
                   after the date distributions begin and there is no designated
                   beneficiary as of September 30 of the year after the year of
                   the Participant's death, the minimum amount that will be
                   distributed for each distribution calendar year after the
                   year of the Participant's death is the quotient obtained by
                   dividing the Participant's account balance by the
                   Participant's remaining life expectancy calculated using the
                   age of the Participant in the year of death, reduced by one
                   for each subsequent year.

                                       19
<Page>

     (b)    Death Before Date Distributions Begin.

            (i)    Participant Survived by Designated Beneficiary. If the
                   Participant dies before the date distributions begin and
                   there is a designated beneficiary, the minimum amount that
                   will be distributed for each distribution calendar year after
                   the year of the Participant's death is the quotient obtained
                   by dividing the Participant's account balance by the
                   remaining life expectancy of the Participant's designated
                   beneficiary, determined as provided in Section 7.8(a).

            (ii)   No Designated Beneficiary. If the Participant dies before the
                   date distributions begin and there is no designated
                   beneficiary as of September 30 of the year following the year
                   of the Participant's death, distribution of the Participant's
                   entire interest will be completed by December 31 of the
                   calendar year containing the fifth anniversary of the
                   Participant's death.

            (iii)  Death of Surviving Spouse Before Distributions to Surviving
                   Spouse Are Required to Begin. If the Participant dies before
                   the date distributions begin, the Participant's surviving
                   spouse is the Participant's sole designated beneficiary, and
                   the surviving spouse dies before distributions are required
                   to begin to the surviving spouse under Section 7.8(a)(i)(B),
                   this Section 7.8(b)(iii) will apply as if the surviving
                   spouse were the Participant.

     7.9    DEFINITIONS

     The following definitions shall apply for purposes of Sections 7.6 through
7.8.

            (a)    Designated beneficiary. The individual who is designated as
            the beneficiary under Section 7.3 of the Plan and is the designated
            beneficiary under Code Section 401(a)(9) and Regulations Section
            1.401(a)(9)-1, Q&A-4, of the Treasury Regulations.

            (b)    Distribution calendar year. A calendar year for which a
            minimum distribution is required. For distributions beginning before
            the Participant's death, the first distribution calendar year is the
            calendar year immediately preceding the calendar year which contains
            the Participant's required beginning date. For distributions
            beginning after the Participant's death, the first distribution
            calendar year is the calendar year in which distributions are
            required to begin under Section 7.6(b). The required minimum
            distribution for the Participant's first distribution calendar year
            will be made on or before the Participant's required beginning date.
            The required minimum distribution for other distribution calendar
            years, including the required minimum distribution for the
            distribution calendar year in which the Participant's required
            beginning date occurs, will be made on or before December 31 of that
            distribution calendar year.

                                       20
<Page>

            (c)    Life expectancy. Life expectancy as computed by use of the
            Single Life Table in Regulation Section 1.401(a)(9)-9.

            (d)    Participant's account balance. The account balance as of the
            last valuation date in the calendar year immediately preceding the
            distribution calendar year (valuation calendar year) increased by
            the amount of any contributions made and allocated or forfeitures
            allocated to the account balance as of dates in the valuation
            calendar year after the valuation date and decreased by
            distributions made in the valuation calendar year after the
            valuation date. The account balance for the valuation calendar year
            includes any amounts rolled over or transferred to the Plan either
            in the valuation calendar year or in the distribution calendar year
            if distributed or transferred in the valuation calendar year.

            (e)    Required beginning date. For a Participant who is not a five
            percent (5%) owner, the required beginning date is the April 1 of
            the calendar year following the later of (i) the calendar year in
            which the Participant attains age 70-1/2, or (ii) the calendar year
            in which the Participant retires. The required beginning date for a
            Participant who is a five percent (5%) owner (as defined in Code
            Section 416(i)) is April 1 of the calendar year following the
            calendar year in which the Participant attains age 70- 1/2.

     7.10   DISTRIBUTION FOR MINOR BENEFICIARY

     If a distribution is to be made to a minor, then the Administrative
Committee may direct that such distribution be paid to the legal guardian, or if
none, to a parent of such Beneficiary or a responsible adult with whom the
Beneficiary maintains his or her residence, or to the custodian for such
Beneficiary under the Uniform Gift to Minors Act, if permitted by the laws of
the state in which the Beneficiary resides. A payment to the legal guardian,
custodian or parent of a minor Beneficiary under this Section 7.10 shall fully
discharge the Trustee, the Bank, and the Plan from further liability on account
thereof.

     7.11   LOCATION OF PARTICIPANT OR BENEFICIARY UNKNOWN

     If all, or any portion, of the distribution payable to a Participant or
Beneficiary under this Plan shall, at the expiration of five (5) years after it
shall become payable, remain unpaid solely by reason of the inability of the
Administrative Committee, after sending a registered letter, return receipt
requested, to the last known address, and after further diligent effort, to
ascertain the whereabouts of such Participant or his Beneficiary, the amount so
distributable shall be treated as a Forfeiture pursuant to the Plan. If a
Participant or Beneficiary is located subsequent to his or her benefit being
reallocated under this Section 7.11, the forfeited benefit shall be restored.

                                       21
<Page>

     7.12   LIMITATIONS ON BENEFITS AND DISTRIBUTIONS.

     All rights and benefits, including elections, provided to a Participant in
this Plan shall be subject to the rights afforded to any alternate payee under a
QDRO. Furthermore, a distribution to an alternate payee shall be permitted if
such distribution is authorized by a QDRO, even if the affected Participant has
not reached the earliest retirement age under the Plan. For the purposes of this
Section 7.12, "alternate payee," "QDRO" and "earliest retirement age" shall have
the meaning set forth under Code Section 414(p).

     7.13   DIRECT ROLLOVERS

     Despite any provision of the Plan to the contrary that would otherwise
limit a distributee's election under this Article VII, a distributee may elect,
at the time and in the manner prescribed by the Administrative Committee, to
have any portion of an eligible rollover distribution paid directly to an
eligible retirement plan specified by the distributee in a direct rollover. For
purposes of this Section 7.13, the following definitions shall apply:

     (a)    Eligible rollover distribution: An eligible rollover distribution is
any distribution of all or any portion of the balance to the credit of the
distributee, except that an eligible rollover distribution does not include: any
distribution that is one of a series of substantially equal periodic payments
(not less frequently than annually) made for the life (or life expectancy) of
the distributee or the joint lives (or joint life expectancies) of the
distributee and the distributee's designated beneficiary, or for a specified
period of ten years or more; any distribution to the extent such distribution is
required under Code Section 401(a)(9); and the portion of any distribution that
is not includible in gross income (determined without regard to the exclusion
for net unrealized appreciation with respect to employer securities).

     (b)    Eligible retirement plan: An eligible retirement plan is an
individual retirement account described in Code Section 408(a), an individual
retirement annuity described in Code Section 408(b) , an annuity plan described
in Code Section 401(a)(3), an annuity contract described in Code Section 403(b),
a qualified trust described in Code Section 401(a), or an eligible plan under
Code Section 457(b) which is maintained by state, political subdivision of a
state, or any agency or instrumentality of a state or political subdivision of a
state and which agrees to separately account for amounts transferred into such
plan from this Plan.

     (c)    Distributee: A distributee includes an Employee or former Employee.
In addition, the Employee's or former Employee's surviving spouse and the
Employee's or former Employee's spouse or former spouse who is the alternate
payee under a QDRO are distributees with regard to the interest of the spouse or
former spouse.

     (d)    Direct rollover: A direct rollover is a payment by the Plan to the
eligible retirement plan specified by the distributee.

                                       22
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                            VIII. TRUST AND TRUSTEES

     8.1    TRUST AND TRUSTEE

     (a)    There is hereby established a trust for sole purpose of holding and
investing the Fund in accordance with the requirements of ERISA Section 403(a)
and the terms of this instrument. The trust shall consist of contributions under
this Plan, as adjusted for interest, gains and losses, less payments to
Participants. By executing this instrument, the Trustee hereby accepts
appointment as such and agrees to carry out its duties and obligations under
this Plan.

     (b)    The Trustee shall discharge its duties hereunder solely in the
interest of the Participants and their Beneficiaries, and for the exclusive
purpose of providing benefits to Participants and Beneficiaries and Defraying
reasonable expenses of administering the Plans, (ii) with the care, skill,
prudence, and diligence under the circumstances then prevailing that a prudent
person acting in a like capacity and familiar with such matters would use in the
conduct of an enterprise of a like character and with like aims, (iii) in
accordance with the documents and instruments governing the Plan unless, in the
good faith judgment of the Trustee, the documents and instruments are not
consistent with the provisions of ERISA, and (iv) in a manner that does not
constitute a non-exempt prohibited transaction under Code Section 4975 of the
Code or ERISA Sections 406 or 407.

     8.2    GENERAL POWERS

     The Trustee shall have the following powers, rights and duties with respect
to the Fund in addition to those provided elsewhere in this instrument or by
law.

     (a)    To receive and to hold all contributions paid to it under the Plan;
provided, however, that the Trustee shall have no duty to require any
contributions to be made to it, or to determine that the contributions received
by it comply with the provisions of the Plan or with any resolution of the Board
of Directors providing for such contribution.

     (b)    To retain in cash (pending investment, reinvestment or the
distribution of dividends) such reasonable amount as may be required for the
proper administration of the Trust and to invest such cash as provided in
Article IV.

     (c)    As directed by the Administrative Committee, to make distributions
from the Fund to such persons or trusts, in such manner, at such times and in
such forms as directed without inquiring as to, whether a payee is entitled to
the payment, or as to whether a payment is proper, and without liability for a
payment made in good faith without actual notice or knowledge of the changed
condition or status of the payee. If any payment of benefits directed to be made
from the Fund by the Trustee is not claimed, the Trustee shall notify the
Administrative Committee of that fact promptly. The Administrative Committee
shall make a diligent effort to ascertain the whereabouts of the payee or
distributee of benefits returned unclaimed. The Trustee shall dispose of such
payments as the Administrative Committee shall direct. The Trustee shall have no
obligation to search for or ascertain the whereabouts of any payee or
distributee of benefits from the Fund.

                                       23
<Page>

     (d)    To vote or exercise other rights with respect to any Employer Stock
in the Fund at its discretion, except to the extent provided in the Plan, and to
vote or exercise other rights with regard to any other stocks, bonds or other
securities held in the Trust, or otherwise consent to or request any action on
the part of the issuer in person, by proxy or power of attorney.

     (e)    To contract or otherwise enter into transactions between the Trust
and the Bank or any Bank shareholder or other person, for the purpose of
acquiring, selling, or exchanging Employer Stock and, to retain in the Fund any
Employer Stock so acquired.

     (f)    To compromise, contest, arbitrate, settle or abandon claims and
demands by or against the Fund.

     (g)    To begin, maintain or defend any litigation necessary in connection
with the investment, reinvestment and administration of the Trust.

     (h)    To report to the Bank as of the last day of each Plan Year or at
such other times as may be required under the Plan, the then current fair market
value of all property held in the Fund, reduced by any liabilities other than
liabilities to Participants, as determined by the Trustee.

     (i)    To furnish to the Bank such other information as the Trustee may
possess, which the Administrative Committee requires in order to comply with the
reporting and disclosure requirements of ERISA. The Trustee shall keep accurate
accounts of all investments, earnings thereon. All accounts, books and records
related to such investments shall be open to inspection by any person designated
from time-to-time by the Bank or the Administrative Committee. All accounts of
the Trustee shall be kept on an accrual basis. The Bank may approve such
accounting by written notice of approval delivered to the Trustee or by failure
to express objection to such accounting in writing delivered to the Trustee
within one hundred twenty (120) days from the date upon which the accounting was
delivered to the Bank. Upon the receipt of a written approval of the accounting,
or upon the passage, of the period of time within which objection may be filed
without written objections having been delivered to the Trustee, such accounting
shall be deemed to be approved, and the Trustee shall be released and discharged
as to all items, matters and things set forth in such account as fully as if
such accounting had been settled and allowed by decree, of a court of competent
jurisdiction in an action or proceeding in which the Trustee, the Bank and all
persons having or claiming to have any interest in the Fund or under the Plan
were parties.

     (j)    As directed by the Administrative Committee, to pay any estate,
inheritance, income or other tax, charge or assessment attributable to any
benefit which it shall or may be required to pay out of such benefit; and to
require before making any payment such release or other document from any taxing
authority and such indemnity from the intended payee as the Trustee shall deem
necessary for its protection.

                                       24
<Page>

     (k)    To employ and to reasonably rely upon information and advice
furnished by agents, attorneys, appraisers, accountants or other persons of its
choice for such purposes as the Trustee considers necessary for the proper
administration of the Trust.

     (l)    To assume, until advised to the contrary, that the Trust established
and maintained under this Article VIII is qualified under Code Section 401(a)
and is entitled to tax-exempt status under Code Section 501(a).

     (m)    To invest and reinvest the assets of the Fund in personal property
of any kind, including, but not limited to bonds, notes, debentures, mortgages,
equipment trust certificates, investment trust certificates, guaranteed
investment contracts, preferred or common stock, and registered investment
companies.

     (n)    To exercise any options, subscription rights and other privileges
with respect to Trust assets.

     (o)    To register ownership of any securities or other property held by it
in its own name or in the name of a nominee, with or without the addition of
words indicating that such securities are held in a fiduciary capacity, and may
hold any securities in bearer form, but the books and records of the Trustee
shall at all times reflect that all such investments are part of the Trust.

     (p)    To borrow such sum or sums from time to time as the Trustee
considers necessary or desirable and in the best interest of the Fund, and for
that purpose to mortgage or pledge any part of the Fund.

     (q)    To deposit securities with a clearing corporation as defined in
Article 8 of the Uniform Commercial Code. The certificates representing
securities, including those in bearer form, may be held in bulk form with, and
may be merged into, certificates of the same class of the same issuer which
constitute assets of other accounts or owners, without certification as to the
ownership attached. Utilization of a book-entry system may be made for the
transfer or pledge of securities held by the Trustee or by a clearing
corporation. The Trustee shall at all times, however, maintain a separate and
distinct record of the securities owned by the Trust.

     (r)    To participate in and use the Federal Book-Entry Account System, a
service provided by the Federal Reserve Bank for its member banks for deposit of
Treasury securities.

     (s)    To perform any and all other acts which are necessary or appropriate
for the proper management, investment and distribution of the Fund.

     8.3    RESPONSIBILITY OF TRUSTEE.

     The Trustee shall not be responsible in any way for the adequacy of the
Fund to meet and discharge any or all liabilities under the Plan or for the
proper application of distributions made or other action taken upon the
direction of the Administrative Committee.

                                       25
<Page>

     8.4    COMPENSATION AND EXPENSES.

     The Trustee shall be entitled to reasonable compensation for services, as
agreed to between the Bank and the Trustee from time to time in writing and to
reimbursement of all reasonable expenses incurred by it in the administration of
the Trust. The Trustee is authorized to pay from the Fund all expenses of
administering the Plan and Trust, including its compensation, compensation to
any agents employed by the Trustee and any accounting, legal and valuation
expenses, to the extent they are not paid directly by the Bank or any Affiliated
Employers. The Trustee shall be fully protected in making payments of
administrative expenses pursuant to the written directions of the Administrative
Committee.

     8.5    CONTINUATION OF POWERS UPON TRUST TERMINATION.

     Upon termination of the Trust, the powers, rights and duties of the Trustee
hereunder shall continue until all Fund assets have been liquidated.

     8.6    RESIGNATION.

     The Trustee may resign at any time by giving thirty (30) days' advance
written notice to the Bank and the Administrative Committee.

     8.7    REMOVAL OF THE TRUSTEE.

     The Bank may remove the Trustee for any reason or for no reason by giving
thirty (30) days advance written notice to the Trustee, subject to providing the
removed Trustee with satisfactory written evidence of the appointment of a
successor Trustee and of the successor Trustee's acceptance of the trusteeship.

     8.8    DUTIES OF RESIGNING OR REMOVED TRUSTEE AND OF SUCCESSOR TRUSTEE.

     If the Trustee resigns or is removed, the Trustee shall promptly transfer
and deliver the assets of the Fund to the successor Trustee(s). Within 120 days,
the resigned or removed Trustee shall furnish to the Bank and the successor
Trustees) an account of its administration of the Trust from the date of its
last account. Each successor Trustee shall succeed to the title to the Fund
vested in its predecessor without the signing or filing of any further
instrument, but any resigning or removed Trustee shall execute all documents and
do all acts necessary to vest such title or record in any successor Trustee.
Each successor shall have all the powers, rights and duties conferred by this
Trust as if originally named Trustee. No successor Trustee shall be personally
liable for any act or failure to act of a predecessor Trustee. With the approval
of the Administrative Committee, a successor Trustee may accept the account
rendered and the property delivered to it by its predecessor Trustee as a full
and complete discharge to the predecessor Trustee without incurring any
liability or responsibility for so doing.

                                       26
<Page>

     8.9    FILLING TRUSTEE VACANCY.

     The Bank may fill a vacancy in the office of Trustee as soon as practicable
by a writing filed with the person or entity appointed to fill the vacancy.

     8.10   DISAGREEMENT AS TO ACTS.

     If there is a disagreement between the Trustee and anyone as to any act or
transaction reported in any accounting, the Trustee shall have the right to have
its account settled by a court of competent jurisdiction.

     8.11   PERSONS DEALING WITH TRUSTEE.

     No person dealing with the Trustee shall be required to see to the
application of any money paid or property delivered to the Trustee, or to
determine whether or not the Trustee is acting pursuant to any authority granted
to it under or the Plan.

     8.12   MULTIPLE TRUSTEES.

     In the event that more than one person shall serve as co-trustees
hereunder, then the action of a majority of the co-trustees serving at any time
shall be deemed to be the action of the Trustee.

     8.13   DEALINGS WITH THE ADMINISTRATIVE COMMITTEE

     The Administrative Committee may authorize one or more individuals to sign
all communications between the Administrative Committee and Trustee and shall at
all times keep the Trustee advised of the names of the members of the
Administrative Committee and the individuals authorized to sign on behalf of the
Administrative Committee. With the Trustee's prior written consent, the
Administrative Committee may authorize the Trustee to act, without specific
directions or other directions or instructions from the Administrative
Committee, on any matter or class of matters with respect to which directions
or, instructions from the Administrative Committee may be required. The Trustee
shall be fully protected in relying on any communication sent by any authorized
person and shall not be required to verify the accuracy or validity of any
signature unless the Trustee has reasonable ground to doubt the authenticity of
any signature. If the Trustee requests any directions hereunder with respect to
a matter that is not within the Trustee's sole discretion and does not receive
them, the Trustee shall act or refrain from acting, as it may determine, with no
liability for such action or inaction. If at any time person(s) serving as
members of the Administrative Committee and person(s) serving as the Trustee are
the same, then there shall be no need for written instructions from the
Administrative Committee to the Trustee, and all actions taken by the Trustee
shall be deemed to have been properly authorized by the Administrative
Committee.

                                       27
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                                  IX. DIVIDENDS

     9.1    PAYMENT OF DIVIDENDS.

     All dividends paid with respect to Employer Stock owned by the Trust shall,
in the discretion of the Bank:

     (i)    Be retained by the Trustee and added to the corpus of the Trust,

     (ii)   Be paid in cash directly to the Participants,

     (iii)  Be paid to the Trustee and distributed in cash to the Participants
not later than ninety (90) days after the close of the Plan Year in which the
dividend was paid, or

     (iv)   Be used to repay a loan described in Section 4.4, the proceeds of
which were used to acquire the Employer Stock with respect to which the dividend
was paid.

     9.2    ALLOCATION OF DIVIDENDS.

     In the event of a distribution or payment of dividends to the Participants,
each Participant shall receive that portion of dividends paid in the ratio in
which the balance of his or her Account on the preceding Anniversary Date bears
to the sum of the balances for the Accounts of all Participants on that date. In
the event the Trustee uses dividends paid on Employer Stock to repay a loan
described in Section 4.4, then for that Plan Year, Employer Stock must be
allocated to each Participant's account that has a fair market value of not less
than the amount of such dividend that would otherwise have been allocated to
that Participant if the dividend had been distributed to the Participants. If a
Participant is prohibited from having certain Employer Stock allocated to his
Account because of Code Section 409(n), then the Trustee shall pay directly to
such Participant his proportionate share of the dividend in cash rather than
applying said dividend to the repayment of a loan described in Section 4.4.

                                 X. PUT OPTIONS

     10.1   APPLICATION

     The provisions of this Article apply only if (i) the Employer Stock is not,
or ceases to be, traded on an established securities market or (ii) is subject
to a restriction under any Federal or state securities law, or regulation
thereunder, which would make the security not as freely tradable as one not
subject to such restriction.

     10.2   PUT OPTION

     Upon the distribution of shares of Employer Stock to a Participant, the
distributee shall have the right to require the Bank to purchase such shares, at
their then fair market value (herein referred to as the "put option"), in
accordance with the following terms and conditions:

                                       28
<Page>

     (a)    The put option must be exercised only by the Participant, or by the
Participant's donees, or by a person (including an estate or its distributee) to
whom the shares pass by reason of a Participant's death. For this purpose,
"Participant" shall mean a Participant in the Plan and Trust, and any
Beneficiary of such Participant.

     (b)    Although the put option is binding upon the Bank, and not upon the
Plan and Trust, the Plan and Trust shall retain the option to assume the rights
and obligations of the Bank at the time of exercise of the put option.

     (c)    If it is known at the time that a loan is made to the Trust for the
purpose of the acquisition of Employer Stock, that Federal or state law will be
violated by the Bank's honoring of the put option, the Employer Stock involved
may be put (in a manner consistent with such law) to a third party (e.g., an
affiliate of the Bank or a shareholder other than the Plan and Trust) that has
substantial net worth at the time the loan is made, and whose net worth is
reasonably expected to remain substantial.

     (d)    The put option is exercisable during the period of fifteen (15)
months which begins on the date the Employer Stock is distributed to the
Participant by the Plan and Trust, and must be exercised (if at all) by written
notification to the Bank.

     (e)    The price to be paid by the Bank upon exercise of the put option
shall be the then fair market value of the shares, determined by the Trustee as
of the Valuation Date coinciding with or immediately preceding the date of
distribution; provided, however, that if the fair market value of shares of
Employer Stock is determined after such Valuation Date but prior to the date of
distribution of the shares, the fair market value as determined as of the more
recent valuation shall control. For this purpose, fair market value shall be
determined in accordance with the provisions of Section 4.2, respecting the
valuation of shares of Employer Stock held in the Trust.

     (f)    If the balance to the credit of a Participant's account is
distributed within one (1) taxable year, the purchase price for the shares of
Employer Stock shall be paid in substantially equal annual, quarterly or monthly
payments over a period beginning not later than thirty (30) days after the
exercise of the put option and not exceeding five (5) years. Interest on the
unpaid balance shall accrue and shall be paid with each payment of principal, at
a reasonable rate of interest. Adequate security shall be provided for the
obligations. If a Participant's account balance is distributed to him or her in
installments, the purchase price for the shares of Employer Stock shall be paid
in cash no later than thirty (30) days after the exercise of the put option.

     (g)    The terms of the put option and the administration of the Employer
Stock purchase provisions of this Plan and Trust shall be conducted according to
a uniform, nondiscriminatory policy established by the Bank with respect to
Participants similarly situated.

                                       29
<Page>

                           XI. RIGHT OF FIRST REFUSAL

     11.1   APPLICATION

     The provision of Sections 11.2 and 11.3 below apply only if the Employer
Stock is not, or ceases to be, traded on an established securities market.

     11.2   RIGHT OF FIRST REFUSAL

     Any Participant or transferee who desires to transfer (whether by sale,
gift or bequest) any shares of Employer Stock shall first offer in writing such
shares for sale to the Bank at the same price and upon the same terms offered to
such shareholder by a bona fide prospective purchaser of such shares. In the
case of gifts or bequests, such shares shall first be offered for sale to the
Bank at the fair market value of shares as determined under Section 4.2. Such
written offer must be presented to the Bank and the option periods set forth
below must have expired prior to the making of any gift or prior to the transfer
out of a Participant's or transferee's estate. The Bank shall have the option
for seven (7) days after the later of (i) the death of the Participant or
transferee, or (ii) the Bank's receipt of such written offer, to accept such
offer. If, within such seven-day period, the Bank fails to accept such offer in
its entirety, its option hereunder as to such offer shall terminate. Thereupon,
immediately following the termination of said offer as to the Bank, the said
same offer shall be deemed without further writing to have been renewed and
reinstated as to the Trust, and the Trust shall have the option for three (3)
days after the termination of the Bank's option to purchase such part or all of
the stock which the offering shareholder desires to transfer. If the option is
not exercised within the seven (7)-day period, then the shareholder so desiring
to transfer part or all of his or her Employer Stock shall have the right for a
period ending on the thirtieth (30th) day after the expiration of the aforesaid
seven (7)-day period, to transfer such stock to, and only to, the donee or
beneficiary or in the case of a sale, to the aforesaid bona fide prospective
purchaser in the same quantity, at the same price, and upon the same terms as
were offered to the Bank and/or the Trust. In the case of gifts or bequests, if
the option is not exercised by the Bank or the Trustee then such shares may be
transferred to the donees, legatees or heirs of the transferor. In case of any
transfer by reason of gift or death under this Section 11.2, the legatees,
heirs, next of kin, donees or other transferees shall receive and hold such
stock subject to the restrictions on encumbrance and disposition set forth in
this Article XI.

     11.3   ENDORSEMENT OF CERTIFICATES

     Prior to the distribution of any shares of Employer Stock to a Participant,
the Trustee shall have the Bank endorse such shares as follows:

     "The shares represented by this certificate are subject to a
     Right of First Refusal as set forth in Section 11.2 of the
     Hampden Bank Employee Stock Ownership Plan and Trust, as amended
     from time to time, restricting the free transferability of said
     shares. The Bank will mail to the holder of this

                                       30
<Page>

     certificate, without charge, a copy of the terms of such Right of
     First Refusal within five (5) days after receiving a written
     request therefor."

                          XII. ADMINISTRATIVE COMMITTEE

     12.1   STATUS

     The Administrative Committee (i) is a "named fiduciary" for purposes of
ERISA Section 402(a)(1) with authority to control and manage the operation and
administration of the Plan, (ii) is responsible for complying with all of the
reporting and disclosure requirements of Part 1 of Subtitle B of Title I of
ERISA, and (iii) has the power and authority in its sole, absolute and
uncontrolled discretion to control or manage the operation and administration of
the Plan, including all powers necessary to accomplish these purposes. The
Administrative Committee will not, however, have any authority over the
investment of assets of the Trust in its capacity as such.

     12.2   POWERS

     The Administrative Committee has full discretionary power to administer the
Plan in all of its details in accordance with the requirements of ERISA and
other applicable laws. For this purpose the Administrative Committee's
discretionary powers include, but are not be limited to, the following:

            (i)    To make and enforce such rules and regulations as it deems
     necessary or proper for the efficient administration of the Plan or
     required to comply with applicable law;

            (ii)   To interpret the Plan;

            (iii)  To decide all questions concerning the Plan and the
     eligibility of any person to participate in the Plan;

            (iv)   To compute the amounts to be distributed under the Plan, and
     to determine the person or persons to whom such amounts will be
     distributed;

            (v)    To authorize the payment of distributions;

            (vi)   To keep such records and submit such filings, elections,
     applications, returns or other documents or forms as may be required under
     the Code and applicable regulations, or under other federal, state or local
     law and regulations;

            (vii)  To allocate and delegate its ministerial duties and
     responsibilities and to appoint such agents, counsel, accountants and
     consultants as may be required or desired to assist in administering the
     Plan; and

            (viii) By written instrument, to allocate and delegate its fiduciary
     responsibilities in accordance with ERISA Section 405.

                                       31
<Page>

     12.3   DUTIES

     The Administrative Committee shall decide any disputes which may arise
relative to the rights of Participants and/or Employees, past and present, and
their Beneficiaries, under the terms of this Plan, shall give instructions and
directions to the Trustee as necessary and, in general, shall direct the
administration of the Plan; provided that the Administrative Committee may not,
through interpretation of or action under the Plan (including amendment or
termination under Article XIII), increase the burden imposed upon the Trustee
without the Trustee's consent. The Administrative Committee shall keep records
containing all relevant data pertaining to any person affected hereby and his
rights under the Plan and shall ascertain that such person receives the benefits
to which he or she is entitled. No member of the Administrative Committee shall
have any right to vote or decide upon any matter relating solely to himself or
any of his rights or benefits under this Plan.

     (a)    The Administrative Committee shall establish accounting procedures
for the purpose of making the allocations, valuations, and adjustments to both
the Account and Employer Stock Account of each Participant and it shall maintain
adequate records of the cost basis of Employer Stock allocated to each
Participant's Employer Stock Account.

     (b)    The Administrative Committee shall determine the eligibility of
Participants, according to the provision of this Plan, from the information
furnished to it by the Bank.

     (c)    Wherever, under the provisions of this Plan, discretion is granted
to the Administrative Committee which affects the benefits, rights and
privileges of Participants, such discretion shall be exercised uniformly so that
all Participants similarly situated shall be similarly treated.

     12.4   EFFECT OF INTERPRETATION OR DETERMINATION

     Any interpretation of the Plan or other determination with respect to the
Plan by the Administrative Committee will be final, conclusive and binding on
all persons in the absence of clear and convincing evidence that the committee
acted arbitrarily and capriciously.

     12.5   RELIANCE ON TABLES, ETC.

     In administering the Plan, the Administrative Committee is entitled, to the
extent permitted by law, to rely conclusively on all tables, valuations,
certificates, opinions and reports which are furnished by any accountant,
trustee, counsel or other expert who is employed or engaged by the
Administrative Committee or by the Bank on the committee's behalf.

                                       32
<Page>

     12.6   CLAIMS AND REVIEW PROCEDURES.

     The following claims procedure is intend to conform the requirements of
ERISA Section 503.

     (a)    If any person believes he or she is being denied any rights or
benefits under the Plan, such person may file a claim in writing with the
Administrative Committee . If any such claim is wholly or partially denied, the
Administrative Committee will notify such person of its decision in writing.
Such notification will contain (i) specific reasons for the denial, (ii)
specific reference to pertinent plan provisions, (iii) a description of any
additional material or information necessary for such person to perfect such
claim and an explanation of why such material or information is necessary and
(iv) information as to the steps to be taken if the person wishes to submit a
request for review. Such notification will be given within 90 days after the
claim is received by the Administrative Committee (or within 180 days, if
special circumstances require an extension of time for processing the claim, and
if written notice of such extension and circumstances is given to such person
within the initial 90 day period). If such notification is not given within such
period, the claim will be considered denied as of the last day of such period
and such person may request a review of his or her claim.

     (a)    Within 60 days after the date on which a person receives a written
notice of a denied claim (or, if applicable, within 60 days after the date on
which such denial is considered to have occurred) such person (or his or her
duly authorized representative) may (a) file a written request with the
Administrative Committee for a review of his or her denied claim by the
Administrative Committee, (b) submit written issues and comments to the
Administrative Committee and (c) review pertinent documents. The Administrative
Committee will notify such person of its decision in writing. Such notification
will be written in a manner calculated to be understood by such person and will
contain specific reasons for the decision as well as specific references to
pertinent plan provisions. The decision on review will be made within 60 days
after the request for review is received by the Administrative Committee (or
within 120 days, if special circumstances require an extension of time for
processing the request, such as an election by the Administrative Committee to
hold a hearing, and if written notice of such extension and circumstances is
given to such person within the initial 60 day period). If the decision on
review is not made within such period, the claim will be considered denied.

     12.7   INDEMNIFICATION

     The Bank agrees to indemnify and defend to the fullest extent of the law
any Employee, officer or director of the Bank (i) who serves or has served on
the Administrative Committee, (ii) who assists the Administrative Committee in
administering the Plan as part of his or her employment duties with the Bank, or
(iii) to whom the Administrative Committee has delegated any of its duties or
responsibilities, including any former Employee, officer or director described
in (i) or (ii) against any liabilities, damages, costs and expenses (including
attorneys' fees and amounts paid in settlement of any claims approved by the
Bank occasioned by any act or omission to act

                                       33
<Page>

in connection with the Plan, if such act or omission to act is in good faith and
without gross negligence.

     12.8   ANNUAL REPORT

     The Administrative Committee shall submit annually to the Bank a report
showing in reasonable summary form, the financial position of the Trust and
giving a brief account of the operations of the Plan for the past year, and such
further information as the Bank may reasonably require.

     12.9   EXPENSES OF PLAN

     The Administrative Committee may direct a Trustee to pay from the Fund any
or all expenses of administering the Plan, to the extent such expenses are
reasonable. The Administrative Committee will determine what constitutes a
reasonable expense of administering the Plan, and whether such expenses shall be
paid from the Trust. The Administrative Committee may also allocate
administrative charges attributable to specific plan expenses, including but not
limited to determinations regarding QDROs and plan loan origination fees, to the
affected Participant or Beneficiary's Account. Any such expense not paid out of
the Trust shall be paid by the Bank or the Affiliated Employers; provided,
however, that to the extent permitted by ERISA, the Administrative Committee may
direct a Trustee to reimburse the Bank or the Affiliated Employers, as the case
may be, out of the Trust for a reasonable expense of administering the Plan
which is paid prior to a determination with respect to such expense.

     12.10  LIMITATION OF LIABILITY

     No bond or other security shall be required of any member of the
Administrative Committee, unless the member handles funds or other property of
the Plan. A member of the committee shall not be liable or responsible for the
acts of commission or omission of another fiduciary unless (i) the member
knowingly participates or knowingly attempts to conceal the act or omission of
another fiduciary and the member knows the act or omission is a breach of
fiduciary responsibility by the other fiduciary, (ii) the member has knowledge
of a breach by another fiduciary and shall not make reasonable effort to remedy
the breach, (iii) the member's breach of his or her own fiduciary responsibility
permits another fiduciary to commit a breach.

     (a)    Neither the Trustee nor any member of the Administrative Committee
shall be liable for any loss or damage or depreciation which may result in
connection with the execution of their duties or the exercise of its discretion
or from any other act or omission hereunder, except when due to gross negligence
or willful misconduct. At the request of the Administrative Committee, the
Trustee is authorized to purchase insurance for the Trustee and the members of
the Administrative Committee to cover liability or loss resulting from their
acts or omissions. To the extent not covered by insurance, the Trust shall pay
all cost and expenses (including legal fees) that a member of the Administrative
Committee or Trustee may incur as a result of serving as such unless it is

                                       34
<Page>

determined by a court of competent jurisdiction that such acts or omissions were
due to gross negligence or willful misconduct.

     (b)    No fee or compensation shall be paid to any member of the
Administrative Committee for his services as a committee member. Any expenses
properly incurred by the Administrative Committee shall be reimbursed or paid by
the Trust.

     12.11  ACCOUNTS

     The Administrative Committee shall establish and maintain separate
individual Employer Stock Accounts and Other Investment Accounts for each
Participant, as well as for each Former Participant who has an interest in the
Plan. Such separate Employer Stock Accounts and Other Investment Accounts shall
not require a segregation of the Trust assets and no Participant shall acquire a
specific asset of the Trust as a result of the allocations provided for in the
Plan.

                        XIII. AMENDMENTS AND TERMINATION

     13.1   PLAN AMENDMENTS

     The Bank may amend this Plan in any manner and at any time, provided,
however, that no amendment shall prejudice a Participant's or Beneficiary's
existing rights nor revert any interest in the Trust assets, income or
principal, to the Bank. An amendment shall be made by resolution of the Board of
Directors and shall be effective upon delivery of a written instrument, executed
by order of the Board of Directors to the Trustee. No amendment which affects
the rights, responsibilities or duties of the Trustee may be made without the
written consent of the Trustee.

     13.2   TERMINATION OF CONTRIBUTIONS

     The Bank has established this Plan with the bona fide intention and
expectation that from year to year it will be able to and will deem it advisable
to make its contributions as herein provided. The Bank, however, realizes that
circumstances not now foreseen or circumstances beyond its control may make it
either impossible or inadvisable to continue to make its contributions as herein
provided. In the event the Board of Directors decides it is impossible or
inadvisable for the Bank to continue to make its contributions as herein
provided, the Board of Directors shall have the power to terminate the Bank's
contributions by appropriate resolutions. A certified copy of such resolution or
resolutions shall be delivered to the Administrative Committee, and as soon as
possible thereafter, the Administrative Committee shall send or deliver to each
Participant and Beneficiary a copy of the same. After the date specified in such
resolution or resolutions, the Bank shall make no further contributions under
this Plan. In the event of such termination of contributions by the Bank, the
Plan and Trust shall remain in existence, and all of the provisions of the Plan
and the Trust shall remain in force which are necessary, in the opinion of the
Administrative Committee, other than the provisions for contributions by the
Bank, and all of the assets in the Trust on the date specified in such
resolution or resolutions shall be held, administered and distributed by the
Administrative Committee and the Trustee, in the manner provided herein. Despite
any

                                       35
<Page>

other provisions of the Plan, upon complete discontinuance of contributions to
the Plan, Participants will be fully vested in their Account balances.

     13.3   TERMINATION OF PLAN

     If the Board of Directors shall terminate the Bank's contributions, in
accordance with Section 13.2, the Board of Directors shall also have the power
to terminate the Plan and Trust completely or partially, by appropriate
resolution specifying the date of such termination, certified copies of which
shall be delivered to the Administrative Committee, provided, however, that upon
complete or partial termination of the Plan or complete discontinuance of
contributions by the Bank to the Trust, the rights of each Participant to the
amounts credited to his or her Account, at such time, are non-forfeitable and
fully vested in each such Participant. Upon complete or partial termination of
the Plan and Trust, after payment of all expenses and after adjustment of
Participants' and Beneficiaries' shares for expenses, profits, losses and any
other necessary adjustments, there shall be paid to each Participant and each
Beneficiary the amount of his or her share in the Trust, in a lump sum.

                            XIV. TOP HEAVY PROVISIONS

     14.1   PROVISIONS TO APPLY

     The provisions of this Article XIV shall apply for any top-heavy Plan Year
notwithstanding anything to the contrary in the Plan. All determinations under
this Article XIV will be made in accordance with the provisions of Code Section
416 and the Regulation promulgated thereunder, which are specifically
interpreted herein by reference.

     14.2   MINIMUM CONTRIBUTION

     For any Plan Year which is a top-heavy plan year, Participating Employers
shall contribute to the Trust a minimum contribution on behalf of each
Participant who is not a key employee for such year and who has not experienced
a severance from employment with Participating Employers by the end of the Plan
Year. The minimum contribution shall, in general, equal 3% of each such
Participant's Compensation, but shall be subject to the following special rules:

     (a)    If the largest contribution on behalf of a key employee for such
year is equal to less than 3% of the key employee's Compensation, such lesser
percentage shall be the minimum contribution percentage for Participants who are
not key employees. This special rule shall not apply, however, if the Plan is
required to be included in an aggregation group and enables a defined benefit
plan to meet the requirements of Code Sections 401(a)(4) or 410.

     (b)    No minimum contribution will be required with respect to a
Participant who is also covered by another top-heavy defined contribution plan
of the Bank or a Participating Employer which meets the vesting requirements of
Code Section 416(b) and under which the Participant receives the top-heavy
minimum contribution.

                                       36
<Page>

     (c)    If a Participant is also covered by a top-heavy defined benefit plan
of the Bank or an Participating Employer, "5%" shall be substituted for "3%"
above in determining the minimum contribution.

     (d)    The minimum contribution with respect to any Participant who is not
a key employee for the particular year will be offset by any Bank contributions
under Section 3.1, and qualified non-elective contributions (within the meaning
of Code Section 401(m)(4)(c)) and qualified matching contributions (within the
meaning of Regulation Section 1.401(k)-1(a)(6)) if any, under another plan of
Participating Employers. Matching Contributions that are used to satisfy the
minimum contribution requirements shall be treated as matching contributions for
purposes of the actual contribution percentage test and other requirements of
Code Section 401(m).

     (e)    If additional minimum contributions are required under this Section,
such contributions shall be credited to the Participant's Account.

     (f)    A minimum contribution required under this Section shall be made
even though, under other Plan provisions, the Participant would not otherwise be
entitled to receive an allocation for the year because of the Participant's
failure to complete 1,000 Hours of Service.

     14.3   DEFINITIONS

     For purposes of this Article XIV, the following terms have the following
meanings:

     (a)    "Key employee" means a key employee described in Code Section
416(i)(I) and "non-key employee" means any employee who is not a key employee
(including employees who are former key employees);

     (b)    "Top-heavy plan year" means a Plan Year if any of the following
conditions exist:

            (i)    The top-heavy ratio for the Plan exceeds 60 percent and the
                   Plan is not part of any required aggregation group or
                   permissive aggregation group of plans;

            (ii)   This Plan is a part of a required aggregation group of plans
                   but not part of a permissive aggregation group and the
                   top-heavy ratio for the group of plans exceeds 60 percent; or

            (iii)  The Plan is part of a required aggregation group and part of
                   a permissive aggregation group of plans and the top-heavy
                   ratio for the permissive aggregation group exceeds 60
                   percent.

     (c)    "Top-heavy ratio"

                                       37
<Page>

            (i)    If any Participating Employer maintains one or more defined
                   contribution plans (including any Simplified Employee Pension
                   Plan) and the Participating Employer has not maintained any
                   defined benefit plan which during the 5-year period ending on
                   the determination date(s) has or has had accrued benefits,
                   the top-heavy ratio for the Plan alone or for the required or
                   permissive aggregation group as appropriate is a fraction,
                   the numerator of which is the sum of the account balances of
                   all key employees on the determination date(s), and the
                   denomination of which is the sum of all account balances,
                   both computed in accordance with Code Section 416. Account
                   balances shall be increased by distributions made during the
                   1-year period ending on the determination date(s) (including
                   distributions under a terminated plan which, had it not been
                   terminated, would have been aggregated with the Plan under
                   Code Section 416(g)(2)(A)(i)); provided, however, that with
                   respect to distributions made for a reason other than
                   severance from employment, death or disability, the preceding
                   clause shall be applied by substituting "1-year period" for
                   "1-year period." Both the numerator and the denominator of
                   the top-heavy ratio are increased to reflect any contribution
                   not actually made as of the determination date, but which is
                   required to be taken into account on that date under Code
                   Section 416.

            (ii)   If a Participating Employer maintains one or more defined
                   contribution plans (including any Simplified Employee Pension
                   Plan) and the Participating Employer maintains or has
                   maintained one or more defined benefit plans which during the
                   5-year period ending on the determination date(s) has or has
                   had any accrued benefits, the top-heavy ratio for any
                   required or permissive aggregation group as appropriate is a
                   fraction, the numerator of which is the sum of the account
                   balances under the aggregated defined contribution plan or
                   plans for all key employees, determined in accordance with
                   Section 14.3(c)(i), and the present value of accrued benefits
                   under the aggregated defined benefit plan or plans for all
                   key employees as of the determination date(s), and the
                   denominator of which is the sum of the account balances under
                   the aggregated defined contribution plan or plans for all
                   participants, determined in accordance with Section
                   14.3(c)(i), and the present value of all accrued benefits
                   under the defined benefit plan or plans for all participants
                   as of the determination date(s), all determined in accordance
                   with Code Section 416. The accrued benefits under a defined
                   benefit plan in both the numerator and denominator of the
                   top-heavy ratio are increased for any distribution of an
                   accrued benefit in the manner described in Section
                   14.3(c)(i).

                                       38
<Page>

            (iii)  For purposes of Sections 14.3(c) (i) and (ii), the value of
                   account balances and the present value of accrued benefits
                   will be determined as of the most recent valuation date that
                   falls within or ends with the 12-month period ending on the
                   determination date, except as provided in Code Section 416
                   for the first and second plan years of a defined benefit
                   plan. The account balances and accrued benefits of a
                   participant (A) who is not a key employee but who was a key
                   employee in a prior year, or (B) who has not been credited
                   with at least one Hour of Service with any employer
                   maintaining the plan at any time during the 1-year period
                   ending on the determination date will be disregarded. The
                   calculation of the top-heavy ratio, and the extent to which
                   distributions, rollovers, and transfers are taken into
                   account will be made in accordance with Code Section 416.
                   Deductible employee contributions will not be taken into
                   account for purposes of computing the top-heavy ratio. When
                   aggregating plans, the value of account balances and accrued
                   benefits will be calculated with reference to the
                   determination dates that fall within the same calendar year.

            (iv)   The accrued benefit of a Participant other than a key
                   employee shall be determined under (A) the method, if any,
                   that uniformly applies for accrual purposes under all defined
                   benefit plans maintained by the employer, or (B) if there is
                   no such method, as if such benefit accrued not more rapidly
                   than the slowest accrual rate permitted under the fractional
                   rule of Code Section 411(b)(1)(C).

     (d)    The "permissive aggregation group" is the required aggregation group
of plans plus any other plan or plans of the employer which, when considered as
a group with the required aggregation group, would continue to satisfy the
requirements of Code Sections 401(a)(4) and 410.

     (e)    The "required aggregation group" is (i) each qualified plan of the
employer in which at least one key employee participates or participated at any
time during the determination period (regardless of whether the plan has
terminated), and (ii) any other qualified plan of the employer which enables a
plan described in clause (i) to meet the requirements of Code Sections 401
(a)(4) and 410(b).

     (f)    For purposes of computing the top-heavy ratio, the "valuation date"
shall be the last day of the applicable plan year.

     (g)    For purposes of establishing present value to compute the top-heavy
ratio, any benefit shall be discounted only for mortality and interest based on
the interest and mortality rates specified in the defined benefit plan(s), if
applicable.

     (h)    The term "determination date" means, with respect to the initial
plan year of a plan, the last day of such plan year and, with respect to any
other plan year of a plan, the last day of the preceding plan year of such plan.
The term "applicable determination

                                       39
<Page>

date" means, with respect to the Plan, the determination date for the Plan Year
of reference and, with respect to any other plan, the determination date for any
plan year of such plan which falls within the same calendar year as the
applicable determination date of the Plan.

                                 XV. DEFINITIONS

     As used in this instrument, the following terms shall mean the following:

     (a)    ACCOUNT means, with respect to each Participant, the aggregate value
of his or her Employer Stock Account and Other Investment Account.

     (b)    ADMINISTRATIVE COMMITTEE means the person or persons designated by
the Board of Directors to act as such under Article XIII, provided, however,
that if the Board of Directors fails to appoint the Administrative Committee,
the executive committee of the Board of Directors will serve as the
Administrative Committee.

     (c)    AFFILIATED EMPLOYER means the Bank and any corporation which is a
member of a controlled group of corporations, as defined in Code Section 414(b),
which includes the Bank; any trade or business (whether or not incorporated)
which is under common control, as defined in Code Section 414(c) with the Bank;
any organization (whether or not incorporated) which is a member of an
affiliated service group, as defined in Code Section 414(m), which includes the
Bank; and any other entity required to be aggregated with the Bank pursuant to
Regulations under Code Section 414(o).

     (d)    ANNIVERSARY DATE means the 31st day of December each year.

     (e)    BANK means Hampden Bank.

     (f)    BENEFICIARY means a person entitled to benefits hereunder as
beneficiary of a deceased Participant or as beneficiary of a deceased
Beneficiary.

     (g)    BOARD OF DIRECTORS means the Board of Directors of the Bank, as from
time to time constituted.

     (h)    CODE means the Internal Revenue Code of 1986, as amended or replaced
from time to time.

     (i)    COMPENSATION means, with respect to any Participant, total
remuneration paid by the Employer for a Plan Year. Compensation in excess of
$220,000, as adjusted for increases in the cost of living at the same time and
in such manner as permitted under Code Section 401(a)(17)(B), shall be
disregarded. The cost-of-living adjustment in effect for a calendar year applies
to any period, not exceeding 12 months, over which compensation is determined
(determination period) beginning with or within such calendar year. If a
determination period consists of fewer than 12 months, the annual compensation
limit will be multiplied by a fraction, the numerator of which is the number of
months in the determination period, and the denominator of which is 12.
Compensation shall include any amount which is contributed by the Bank pursuant
to a salary reduction agreement

                                       40
<Page>

and which is not includible in the gross income of the Employee under Code
Sections 124, 132(f), 401(k), 402(h) and 403(b).

     (j)    EMPLOYER STOCK means shares of the Bank's voting common stock having
a combined voting power and dividend rights equal to or exceeding that class of
the Bank's common stock having the greatest voting power and dividend rights.

     (k)    EMPLOYER STOCK ACCOUNT means the account of a Participant which is
credited with the shares of Employer Stock purchased and paid for by the Trust
or contributed to the Trust.

     (l)    ERISA means the Employee Retirement Income Security Act of 1974, as
amended from time to time.

     (m)    ELIGIBLE EMPLOYEE means any Employee other than (i) an Employee
covered by a collective bargaining agreement as to which retirement benefits
were the subject of good faith bargaining, (ii) an Employee who is a nonresident
alien and who receives no U.S. source income (iii) an individual who is not
characterized by or treated by the Bank as a common law employee of the
Participating Employer, and (iv) an individual hired on a temporary basis
through a staffing or temporary agency. If an individual described in clause
(iii) is reclassified or deemed to be reclassified as a common law employee of a
Participating Employer and meets the definition of an Eligible Employee, the
individual will be eligible to participate in the Plan as of the actual date of
such reclassification (to the extent such individual otherwise qualifies as an
Eligible Employee). If the effective date of reclassification is prior to the
actual date of such reclassification, in no event will the reclassified
individual be eligible to participate in the Plan retroactively to the effective
date of such reclassification. In no event shall a Leased Employee within the
meaning of Code Section 414(n) become an Eligible Employee until he or she is
actually employed by a Participating Employer.

     (n)    EMPLOYEE means any individual employed by the Bank, (i) excluding
independent contractors and (ii) including a Leased Employee and any other
individual required to be treated as an employee pursuant to Code Sections
414(n) and 414(o).

     (o)    ENTRY DATE means January 1 and July 1 of each Plan Year.

     (p)    FIDUCIARY means any person who (i) exercises any discretionary
authority or discretionary control respecting management of the Plan or
exercises any authority or control respecting management or disposition of its
assets, (ii) renders investment advise for a fee or other compensation, direct
or indirect, with respect to any monies or other property of the Plan or has any
authority or responsibility to do so, or (iii) has any discretionary authority
or discretionary responsibility in the administration of the Plan, including,
but not limited to, the Trustee, the Employer and its representative body, and
the Committee.

     (q)    FORFEITURE means that portion of a Participant's Account that is not
vested, and occurs on the earlier of (i) the distribution of the entire vested
portion of a Participant's Account, or (ii) the last day of the Plan Year in
which the Participant incurs

                                       41
<Page>

five (5) consecutive One-Year Breaks in Service. In the event of a distribution
under clause (i), in the case of a terminated Participant whose vested benefit
is zero, such Terminated Participant shall be deemed to have received a
distribution of his or her vested benefit upon his termination of employment. In
addition, the term Forfeiture shall also include amounts deemed to be
Forfeitures pursuant to any other provision of this Plan.

     (r)    FORMER PARTICIPANT means a person who has been a Participant, but
who has ceased to be a Participant for any reason.

     (s)    FUND means the assets of the Plan as from time-to-time constituted.

     (t)    HIGHLY COMPENSATED EMPLOYEE means any Employee who (i) was a five
percent (5%) owner (as defined in Code Section 416(I)(1)) of the Employer at any
time during the current or the preceding Plan Year, or (ii) for the preceding
Plan Year, (A) had compensation from the Employer in excess of $100,000 (as
adjusted by the Secretary pursuant to Code Section 415(d), and (B) if the
Employer elects the application of this clause for such preceding year, was in
the top-paid group of Employees for such preceding year. For this purpose, an
Employee is in the top-paid group of Employees for any year if such Employee is
in the group consisting of the top twenty percent (20%) of the Employees when
ranked on the basis of compensation paid during such year. A Former Employee
shall be treated as a highly compensated employee if he or she was a highly
compensated employee when he or she separated from service, or was a highly
compensated employee at any time after attaining age 55.

     (u)    HIGHLY COMPENSATED PARTICIPANT means a Highly Compensated Employee
who is eligible to participate in the Plan.

     (v)    HOUR OF SERVICE means:

            (i)    each hour for which an Employee is directly or indirectly
                   compensated or entitled to compensation by the Employer for
                   the performance of duties during the applicable computation
                   period;

            (ii)   each hour for which an Employee is directly or indirectly
                   compensated or entitled to compensation by the Employer
                   (irrespective of whether the employment relationship has
                   terminated) for reasons other than performance of duties
                   (such as vacation, holidays, sickness, jury duty, disability,
                   lay-off, military duty or leave of absence) during the
                   applicable computation period;

            (iii)  each hour for which back pay is awarded or agreed to by the
                   Employer without regard to mitigation of damages.

The same Hours of Service  shall not be credited  both under (i) or (ii), as the
case may be, and under (iii).

                                       42
<Page>

     Despite the forgoing, (x) no more than 501 Hours of Service are required to
be credited to an Employee on account of any single continuous period during
which the Employee performs no duties (whether or not such period occurs in a
single computation period); (y) an hour for which an Employee is directly or
indirectly paid, or entitled to payment, on account of a period during which no
duties are performed is not required to be credited to the Employee if such
payment is made or due under a plan maintained solely for the purpose of
complying with applicable worker's compensation, or unemployment compensation or
disability insurance laws; and (z) Hours of Service are not required to be
credited for a payment which solely reimburses an Employee for medical or
medically related expenses incurred by the Employee.

     An Hour of Service must be counted for purpose of determining a Year of
Service, a year of participation for purposes of accrued benefits, a One-Year
Break in Service, and employment commencement date (or reemployment commencement
date). The provisions of Department of Labor regulations Sections 2530.200b-2(b)
and (c) are incorporated herein by reference.

     (w)    NON-HIGHLY COMPENSATED PARTICIPANT means any Participant who is not
a Highly Compensated Employee.

     (x)    NORMAL RETIREMENT DATE means the Anniversary Date coinciding with or
next following the Participant's Normal Retirement Age (65th birthday). A
Participant shall become fully Vested in his Account upon attaining his Normal
Retirement Age.

     (y)    ONE-YEAR BREAK IN SERVICE shall mean the applicable computation
period during which an Employee has not completed more than 500 Hours of Service
with the Employer. Further, solely for the purpose of determining whether a
Participant has incurred a One-Year Break in Service, Hours of Service shall be
recognized for "authorized leaves of absence" and "maternity and paternity
leaves of absence." An authorized leave of absence means an unpaid, temporary
cessation from active employment with the Employer pursuant to an established
nondiscriminatory policy, whether occasioned by illness, military service, or
any other reason. A "maternity or paternity leave of absence" shall mean an
absence from work for any period by reason of the Employee's pregnancy, birth of
the Employee's child, placement of a child with the Employee in connection with
the adoption of such child, or any absence for the purpose of caring for such
child for a period immediately following such birth or placement. For this
purpose, Hours of Service shall be credited for the computation period in which
the absence from work begins, only if credit therefore is necessary to prevent
the Employee from incurring a One-Year Break in Service, or, in any other case,
in the immediately following computation period. The Hours of Service credited
for a "maternity or paternity leave of absence" shall be those which would
normally have been credited but for such absence, or, in any case in which the
Committee is unable to determine such hours normally credited, eight (8) Hours
of Service per day. The total Hours of Service required to be credited for a
"maternity or paternity leave of absence" shall not exceed 501.

                                       43
<Page>

     (z)    OTHER INVESTMENT ACCOUNT means the account of a Participant which is
credited with his share of the net gain (or loss) of the Plan, Forfeitures, and
Employer contributions in other than Employer Stock and which is debited with
payments made to pay for Employer Stock.

     (aa)   PARTICIPANT means an Eligible Employee who participates in the Plan
as provided in Article II, and has not for any reason become ineligible to
participate further in the Plan.

     (bb)   PARTICIPATING EMPLOYER means the Bank and any other Affiliated
Employer that adopts this Plan with the consent of the Board of Directors.

     (cc)   PLAN means the Hampden Bank Employee Stock Ownership Plan and Trust
as set forth in this instrument and as subsequently amended and/or restated.

     (dd)   PLAN YEAR means the calendar year.

     (ee)   REGULATION means the Income Tax Regulations as promulgated by the
Secretary of the Treasury or his or her delegate, and as amended from time to
time.

     (ff)   SUSPENSE ACCOUNT means the separate account to which is credited
shares of Employer Stock pledged as collateral on a loan described in Section
4.4 prior to their allocation to Participants' Accounts.

     (gg)   DISABILITY means a physical or mental condition of a Participant
resulting from bodily injury, disease, or mental disorder which renders him
incapable of continuing his usual and customary employment with the Employer.
The disability of a Participant shall be determined by a licensed physician
chosen by the Committee. The determination shall be applied uniformly to all
Participants

     (hh)   TRUST means the trust established under Article VIII.

     (ii)   TRUSTEE means the trustee of the Trust.

     (jj)   VESTED means the non-forfeitable portion of a Participant's Account.

     (kk)   VALUATION DATE means the last day of the Plan Year and each other
date as of which the Administrative Committee determines the investment
experience of the Trust and adjust Participants' Accounts accordingly.

     (ll)   YEAR OF SERVICE means the computation period of twelve (12)
consecutive months specified below during which an Employee has at least 1,000
Hours of Service with the Bank or any Affiliated Employer.

     (i)    For purposes of eligibility for participation in the Plan, the
computation periods shall be measured from the date on which the Employee first
performs an Hour of Service and anniversaries thereof. The participation
computation periods beginning after

                                       44
<Page>

a One-Year Break in Service shall be measured from the date on which an Employee
again performs an Hour of Service and anniversaries thereof.

     (ii)   For vesting purposes, the computation period shall be the Plan Year
including periods prior to the Effective Date of the Plan.

     (iii)  For all other purposes, the computation period shall be the Plan
Year.

                               XVI. MISCELLANEOUS

     16.1   EXCLUSIVE BENEFIT RULE

     No part of the corpus or income of the Trust allocable to the Plan will be
used for or diverted to purposes other than for the exclusive benefit of each
Participant and Beneficiary, except as otherwise provided under the provisions
of the Plan relating to QDROs, the payment of reasonable expenses of
administering the Plan, the return of contributions upon non-deductibility or
mistake of fact, the return of certain excess contributions or the failure of
the Plan to qualify initially.

     16.2   NON-TERMINABLE RIGHTS

     The protections and rights afforded Participants under Section 4.4
pertaining to certain restrictions on Employer Stock acquired with the proceeds
of a loan and Section 10.2 pertaining to put options shall be non-terminable.
The protections and rights with respect to Employer Stock acquired with the
proceeds of an exempt loan shall continue and not be abridged notwithstanding
the eventual repayment of the loan or the discontinuance of the Plan as an ESOP.

     16.3   LIMITATION OF RIGHTS.

     Neither the establishment of the Plan, nor any amendment thereof, nor the
creation of any fund or account, nor the payment of any benefits, will be
construed as giving to any Participant or other person any legal or equitable
right against the Bank, any Participating Employer, the Administrative Committee
or the Trustee, except as provided in this Plan, and in no event will the terms
of employment or service of any Participant be modified or in any way be
affected by his or her eligibility for or participation in the Plan. It is a
condition of the Plan, and each Participant expressly agrees by his or her
participation, that each Participant will look solely to the assets held in the
Trust for the payment of any benefit to which he or she is entitled under the
Plan.

     16.4   NON-ALIENABILITY OF BENEFITS

     No benefit provided under this Plan is subject to the voluntary or
involuntary alienation, assignment, garnishment, attachment, execution or levy
of any kind, and any attempt to cause such benefits to be so subjected will not
be recognized, unless (i) required by law, or (ii) the Administrative Committee
receives a QDRO that requires the payment of Plan benefits or the segregation of
any Account. In the case of a QDRO that is determined to be valid under the
Plan's QDRO processing procedures, the

                                       45
<Page>

Participant's Account will be segregated, and benefits will be paid, accord to
its terms. Benefits provided to a Participant may be offset pursuant to a
judgment, order, decree, or settlement agreement that satisfies the conditions
of Code Section 401(a)(13)(C) and any applicable spousal consent requirements
under Code Sections 401(a)(13)(C) and (D) are satisfied.

     16.5   ADEQUACY OF DELIVERY

     Any payment to be made under the Plan by the Trustee may be made by the
Trustee's check. Mailing to a person or persons entitled to distributions
hereunder at the addresses designated by the Participating Employer or
Administrative Committee shall be adequate delivery by the Trustee of such
distributions for all purposes. If the whereabouts of a person entitled to
benefits under the Plan cannot be determined after diligent search by the
Administrative Committee, the committee may place the benefits in a federally
insured, interest-bearing bank account opened in the name of such person. Such
action shall constitute a full distribution of such benefits under the terms of
the Plan.

     16.6   SERVICE WITH ARMED FORCES

     If any Participant leaves a Participating Employer to enter the Armed
Forces of the United States or the Merchant Marines of the United States, and he
or she is entitled to reemployment rights under the laws of the United States,
his or her departure will not be deemed a termination of his or her employment
for the purposes of this Plan, and he or she will be presumed to be on leave of
absence, provided he or she returns to work with a Participating Employer within
the period of time prescribed by laws after his or her discharge, without other
intervening employment. If the Participant fails to return and the Bank
terminates his or her employment, the Bank shall notify the Administrative
Committee, and the Participant's employment shall be deemed to have terminated
on the date of receipt by the Administrative Committee of such notice. Despite
any contrary provision of the Plan, loans, contributions, benefits and service
credit with respect to qualified military service will be administered in
accordance with Code Section 414(u).

     16.7   MERGER OR CONSOLIDATION

     In case of any merger or consolidation of this Plan Trust with, or transfer
of the assets or liabilities of this Plan to any other plan and/or trust, the
terms of such merger, consolidation or transfer shall be such that each
Participant would receive (in the event of termination of this Plan or its
successor immediately thereafter) a benefit which is no less than he or she
would have received in the event of termination of this Plan immediately before
such merger, consolidation or transfer.

     16.8   GOVERNING LAW

     The Plan is construed, administered and enforced according to the laws of
the Commonwealth of Massachusetts to the extent not preempted by ERISA.

                                       46
<Page>

IN WITNESS  WHEREOF,  the Bank has executed the Plan and the  Trustee(s)  has or
have executed the Trust as of this __ day of _________ 2006.

                                            HAMPDEN BANK

                                            By:
                                               -----------------------------

                                            TRUSTEE(S)

                                            --------------------------------

                                            --------------------------------

                                       47<Page>

                                                                    Exhibit 10.2

                                 LOAN AGREEMENT

      THIS LOAN AGREEMENT ("Loan Agreement") is made and entered into as of the
___ day of ________, 200_, by and between [INSERT NAME OF TRUSTEE], trustee
("Borrower") of the trust established under Article VIII, and which forms a part
of, the Hampden Bank Employee Stock Ownership Plan and Trust ("ESOP"), and
____________ ("Lender"), a corporation organized and existing under the laws of
[INSERT STATE OF INCORPORATION].

                                   WITNESSETH

      WHEREAS, the Borrower is authorized to purchase shares of common stock
("Common Stock") of Hampden Bancorp, Inc., either directly from Hampden
Bancorp, Inc. or in open market purchases in an amount not to exceed
[__% of the number of shares issued in the offering].

      WHEREAS, the Borrower is authorized to borrow funds from the Lender for
the purpose of financing authorized purchases of Common Stock; and

      WHEREAS, the Lender is willing to make a loan to the Borrower for such
purpose:

      NOW, THEREFORE, the parties agree hereto as follows:

                                   ARTICLE I

                                  DEFINITIONS

      The following definitions shall apply for purposes of this Loan Agreement,
except to the extent that a different meaning is plainly indicated by the
context:

      BUSINESS DAY means any day other than a Saturday, Sunday or other day on
which banks are authorized or required to close under federal or local law.

      CODE means the Internal Revenue Code of 1986 (including the corresponding
provisions of any succeeding law).

      DEFAULT means an event or condition which would constitute an Event of
Default. The determination as to whether an event or condition would constitute
an Event of Default shall be determined without regard to any applicable
requirements of notice or lapse of time.

      ERISA means the Employee Retirement Income Security Act of 1974, as
amended (including the corresponding provisions of any succeeding law).

      EVENT OF DEFAULT means an event or condition described in Article V.

<Page>

      LOAN means the loan described in section 2.1.

      LOAN DOCUMENTS means, collectively, the Loan Agreement, the Promissory
Note and the Pledge Agreement and all other documents now or hereafter executed
and delivered in connection with such documents, including all amendments,
modifications and supplements of or to all such documents.

      PLEDGE AGREEMENT means the agreement described in section 2.8(a).

      PRINCIPAL AMOUNT means the face amount of the Promissory Note, determined
as set forth in section 2.1(c).

      PROMISSORY NOTE means the promissory note described in section 2.3.

      REGISTER means the register described in section 2.9.

                                   ARTICLE II

                           THE LOAN; PRINCIPAL AMOUNT;
                       INTEREST; SECURITY; INDEMNIFICATION

      SECTION 2.1 THE LOAN; PRINCIPAL AMOUNT.

      (a) The Lender hereby agrees to lend to the Borrower such amount, and at
such time, as shall be determined under this Section 2.1; provided, however,
that in no event shall the aggregate amount lent under this Loan Agreement from
time to time exceed the aggregate amount paid by the Borrower to purchase up to
[INSERT NUMBER OF SHARES] shares of Common Stock.

      (b) Subject to the limitations of Section 2.1(a), the Borrower shall
determine the amounts borrowed under this Agreement, and the time at which such
borrowings are affected. Each such determination shall be evidenced in a writing
which shall set forth the amount to be borrowed and the date on which the Lender
shall disburse such amount, and such writing shall be furnished to the Lender by
notice from the Borrower. The Lender shall disburse to the Borrower the amount
specified in each such notice on the date specified therein or, if later, as
promptly as practicable following the Lender's receipt of such notice; provided,
however, that the Lender shall have no obligation to disburse funds pursuant to
this Agreement following the occurrence of a Default or an Event of Default
until such time as such Default or Event of Default shall have been cured.

      (c) For all purposes of this Loan Agreement, the Principal Amount on any
date shall be equal to the excess, if any, of:

      (i) the aggregate amount disbursed by the Lender pursuant to section
2.1(b) on or before such date; over

                                        2
<Page>

      (ii) the aggregate amount of any repayments of such amounts made before
such date.

The Lender shall maintain on the Register a record of, and shall record in the
Promissory Note, the Principal Amount, any changes in the Principal Amount and
the effective date of any changes in the Principal Amount.

      SECTION 2.2 INTEREST.

     (a) The Borrower shall pay to the Lender interest on the Principal Amount,
for the period commencing with the first disbursement of funds under this Loan
Agreement and continuing until the Principal Amount shall be paid in full, at
the rate of [        ] percent (____%) per annum. Interest payable under this
Agreement shall be computed on the basis of a year of 365 days and actual days
elapsed (including the first day but excluding the last) occurring during the
period to which the computation relates, unless otherwise specified in the
amortization schedule.

      (b) Accrued interest on the Principal Amount shall be payable by the
Borrower on the dates set forth in Schedule I to the Promissory Note. All
interest on the Principal Amount shall be paid by the Borrower in immediately
available funds.

      (c) Anything in the Loan Agreement or the Promissory Note to the contrary
notwithstanding, the obligation of the Borrower to make payments of interest
shall be subject to the limitation that payments of interest shall not be
required to be made to the Lender to the extent that the Lender's receipt
thereof would not be permissible under the law or laws applicable to the Lender
limiting rates of interest which may be charged or collected by the Lender. Any
such payment referred to in the preceding sentence shall be made by the Borrower
to the Lender on the earliest interest payment date or dates on which the
receipt thereof would be permissible under the laws applicable to the Lender
limiting rates of interest which may be charged or collected by the Lender. Such
deferred interest shall not bear interest.

      SECTION 2.3 PROMISSORY NOTE.

      The Loan shall be evidenced by the Promissory Note of the Borrower
attached hereto.

      SECTION 2.4 PAYMENT OF TRUST LOAN.

      The Principal Amount of the Loan shall be repaid in accordance with
Schedule I to the Promissory Note on the dates specified therein until fully
paid.

      SECTION 2.5 PREPAYMENT.

      The Borrower shall be entitled to prepay the Loan in whole or in part, at
any time and from time to time; provided, however, that the Borrower shall give
notice to the

                                        3
<Page>

Lender of any such prepayment; and provided, further, that any partial
prepayment of the Loan shall be in an amount not less than $1,000. Any such
prepayment shall be: (a) permanent and irrevocable; (b) accompanied by all
accrued interest through the date of such prepayment; (c) made without premium
or penalty; and (d) applied on the inverse order of the maturity of the
installment thereof unless the Lender and the Borrower agree to apply such
prepayments in some other order.

      SECTION 2.6 METHOD OF PAYMENTS.

      (a) All payments of principal, interest, other charges (including
indemnities) and other amounts payable by the Borrower hereunder shall be made
in lawful money of the United States, in immediately available funds, to the
Lender at the address specified in or pursuant to this Loan Agreement for
notices to the Lender, on the date on which such payment shall become due. Any
such payment made on such date but after such time shall, if the amount paid
bears interest, and except as expressly provided to the contrary herein, be
deemed to have been made on, and interest shall continue to accrue and be
payable thereon until, the next succeeding Business Day. If any payment of
principal or interest becomes due on a day other than a Business Day, such
payment may be made on the next succeeding Business Day, and when paid, such
payment shall include interest to the day on which payment is in fact made.

      (b) Notwithstanding anything to the contrary contained in this Loan
Agreement or the Promissory Note, the Borrower shall not be obligated to make
any payment, repayment or prepayment on the Promissory Note if doing so would
cause the ESOP to cease to be an employee stock ownership plan within the
meaning of section 4975(e)(7) of the Code or qualified under section 401(a) of
the Code or cause the Borrower to cease to be a tax exempt trust under section
501(a) of the Code or if such act or failure to act would cause the Borrower to
engage in any "prohibited transaction" as such term is defined in the section
4975(c) of the Code and the regulations promulgated thereunder which is not
exempted by section 4975(c)(2) or (d) of the Code and the regulations
promulgated thereunder or in section 406 of ERISA and the regulations
promulgated thereunder which is not exempted by section 408(b) of ERISA and the
regulations promulgated thereunder; provided, however, that in each case, the
Borrower, may act or refrain from acting pursuant to this section 2.6(b) on the
basis of an opinion of counsel, and any opinion of such counsel. The Borrower
may consult with counsel, and any opinion of such counsel shall be full and
complete authorization and protection in respect of any action taken or suffered
or omitted by it hereunder in good faith and in accordance with such opinion of
counsel. Nothing contained in this section 2.6(b) shall be construed as imposing
a duty on the Borrower to consult with counsel. Any obligation of the Borrower
to make any payment, repayment or prepayment on the Promissory Note or refrain
from taking any other act hereunder or under the Promissory Note which is
excused pursuant to this section 2.6(b) shall be considered a binding obligation
of the Borrower, or both, as the case may be, for the purposes of determining
whether a Default or Event of Default has occurred hereunder or under the
Promissory Note and nothing in this section 2.6(b) shall be construed as
providing a defense to any remedies otherwise

                                        4
<Page>

available upon a Default or an Event of Default hereunder (other than the remedy
of specific performance).

      SECTION 2.7 USE OF PROCEEDS OF LOAN.

      The entire proceeds of the Loan shall be used solely for acquiring shares
of Common Stock, and for no other purpose whatsoever.

      SECTION 2.8 SECURITY.

      (a) In order to secure the due payment and performance by the Borrower of
all of its obligations under this Loan Agreement, simultaneously with the
execution and delivery of this Loan Agreement by the Borrower, the Borrower
shall:

            (i) pledge to the Lender as Collateral (as defined in the Pledge
            Agreement), and grant to the Lender a first priority lien on and
            security interest in, the Common Stock purchased with the Principal
            Amount, by the execution and delivery to the lender of the Pledge
            Agreement attached hereto as an exhibit; and

            (ii) execute and deliver, or cause to be executed and delivered,
            such other agreement, instruments and documents as the Lender may
            reasonably require in order to effect the purposes of the Pledge
            Agreement and this Loan Agreement.

      (b) The Lender shall release from encumbrance under the Pledge Agreement
and transfer to the Borrower, as of the date on which any payment or repayment
of the Principal Amount is made, a number of shares of Common Stock held as
Collateral determined pursuant to the applicable provisions of the ESOP.

      SECTION 2.9 REGISTRATION OF THE PROMISSORY NOTE.

      (a) The Lender shall maintain a Register providing for the registration of
the Principal Amount and any stated interest and of transfer and exchange of the
Promissory Note. Transfer of the Promissory Note may be effected only by the
surrender of the old instrument and either the reissuance by the Borrower of the
old instrument to the new holder or the issuance by the Borrower of a new
instrument to the new holder. The old Promissory Note so surrendered shall be
canceled by the Lender and returned to the Borrower after such cancellation.

      (b) Any new Promissory Note issued pursuant to section 2.9(a) shall carry
the same rights to interest (unpaid and to accrue) carried by the Promissory
Note so transferred or exchanged so that there will not be any loss or gain of
interest on the note surrender. Such new Promissory Note shall be subject to all
of the provisions and entitled to all of the benefits of this Agreement. Prior
to due presentment for registration or transfer, the Borrower may deem and treat
the registered holder of any Promissory Note as the holder thereof for purposes
of payment and other purposes. A notation shall be made on each

                                        5
<Page>

new Promissory Note of the amount of all payments of principal and interest
theretofore paid.

                                  ARTICLE III

                 REPRESENTATIONS AND WARRANTIES OF THE BORROWER

      The Borrower hereby represents and warrants to the Lender as follows:

      SECTION 3.1 POWER, AUTHORITY, CONSENTS.

      The Borrower has the power to execute, deliver and perform this Loan
Agreement, the Promissory Note and Pledge Agreement, all of which have been duly
authorized by all necessary and proper corporate or other action.

      SECTION 3.2 DUE EXECUTION, VALIDITY, ENFORCEABILITY.

      Each of the Loan Documents, including, without limitation, this Loan
Agreement, the Promissory Note and the Pledge Agreement, has been duly executed
and delivered by the Borrower; and each constitutes the valid and legally
binding obligation of the Borrower, enforceable in accordance with its terms.

      SECTION 3.3 PROPERTIES, PRIORITY OF LIENS.

      The liens which have been created and granted by the Pledge Agreement
constitute valid, first liens on the properties and assets covered by the Pledge
Agreement, subject to no prior or equal lien.

      SECTION 3.4 NO DEFAULTS, COMPLIANCE WITH LAWS.

      The Borrower is not in default in any material respect under any
agreement, ordinance, resolution, decree, bond, note, indenture, order or
judgment to which it is a party or by which it is bound, or any other agreement
or other instrument by which any of the properties or assets owned by it is
materially affected.

      SECTION 3.5 PURCHASE OF COMMON STOCK.

      Upon consummation of any purchase of Common Stock by the Borrower with the
proceeds of the Loan, the Borrower shall acquire valid, legal and marketable
title to all of the Common Stock so purchased, free and clear of any liens,
other than a pledge to the Lender of the Common Stock so purchased pursuant to
the Pledge Agreement. Neither the execution and delivery of the Loan Documents
nor the performance of any obligation thereunder violates any provisions of law
or conflicts with or results in a breach of or creates (with or without the
giving of notice of lapse of time, or both) a default under any agreement to
which the Borrower is a party or by which it is bound or any of its properties
is affected. No consent of any federal, state, or local governmental authority,

                                        6
<Page>

agency, or other regulatory body, the absence of which could have a materially
adverse effect on the Borrower or the Trustee, is or was required to be obtained
in connection with the execution, delivery, or performance of the Loan Documents
and the transaction contemplated therein or in connection therewith, including
without limitation, with respect to the transfer of the shares of Common Stock
purchased with the proceeds of the Loan pursuant thereto.

      SECTION 3.6 ESOP; CONTRIBUTIONS.

      The ESOP will be duly created, organized and maintained in compliance with
all applicable laws, regulations and rulings. The ESOP will qualify as an
"employee stock ownership plan" as defined in section 4975(e)(7) of the Code.
The ESOP provides that the ESOP sponsor may make contributions to the ESOP in an
amount necessary to enable the Trustee to amortize the Loan in accordance with
the terms of the Promissory Note; provided, however, that no such contributions
shall be required if they would adversely affect the qualification of the ESOP
under section 401(a) of the Code.

      SECTION 3.7 TRUSTEE.

      The trustees of the ESOP have been duly appointed by the ESOP sponsor.

      SECTION 3.8 COMPLIANCE WITH LAWS; ACTIONS.

      Neither the execution and delivery by the Borrower of this Loan Agreement
or any instruments required thereby, nor compliance with the terms and
provisions of any such documents by the lender, constitutes a violation of any
provision of any law or any regulation, order, writ, injunction or decree or any
court or governmental instrumentality, or an event of default under any
agreement, to which the Borrower is a party of which the Borrower is bound or to
which the Borrower is subject, which violation or event of default would have a
material adverse effect on the Borrower. There is no action or proceeding
pending or threatened against either the ESOP or the Borrower before any court
or administrative agency.

                                   ARTICLE IV

                  REPRESENTATIONS AND WARRANTIES OF THE LENDER

      The Lender hereby represents and warrants to the Borrower as follows:

      SECTION 4.1 POWER, AUTHORITY, CONSENTS.

      The Lender has the power to execute, deliver and perform this Loan
Agreement, the Pledge Agreement and all documents executed by the Lender in
connection with the Loan, all of which have been duly authorized by all
necessary and proper corporate or other action. No consent, authorization or
approval or other action by any governmental authority or regulatory body, and
no notice by the Lender to, or filing by the Lender with

                                        7
<Page>

any governmental authority or regulatory body is required for the due execution,
delivery and performance of this Loan Agreement.

      SECTION 4.2 DUE EXECUTION, VALIDITY, ENFORCEABILITY.

      This Loan Agreement and the Pledge Agreement have been duly executed and
delivered by the Lender, and each constitutes a valid and legally binding
obligation of the Lender, enforceable in accordance with its terms.

                                   ARTICLE V

                               EVENTS OF DEFAULT

      SECTION 5.1 EVENTS OF DEFAULT UNDER LOAN AGREEMENT.

      Each of the following events shall constitute an "Event of Default"
hereunder:

      (a) Failure to make any payment or mandatory prepayment of principal of
the Promissory Note when due, or failure to make any payment of interest on the
Promissory Note not later than five (5) Business Days after the date when due.

      (b) Failure by the Borrower to perform or observe any term, condition or
covenant of this Loan Agreement or of any of the other Loan Documents, including
without limitation, the Promissory Note and the Pledge Agreement.

      (c) Any representation or warranty made in writing to the Lender in any of
the Loan Documents, or any certificate, statement or report made or delivered in
compliance with this Loan Agreement, shall have been false or misleading in any
material respect when made or delivered.

      SECTION 5.2 LENDER'S RIGHTS UPON EVENT OF DEFAULT.

      If an Event of Default under this Loan Agreement shall occur and be
continuing, the Lender shall have no rights to assets of the Borrower other
than: (a) contributions (other than contributions of Common Stock) that are made
by the ESOP sponsor to enable the Borrower to meet its obligations pursuant to
this Loan Agreement and earnings attributable to the investment of such
contributions and (b) "Eligible Collateral" (as defined in the Pledge
Agreement); provided, however, that; (i) the value of the Borrower's assets
transferred to the Lender following an Event of Default in satisfaction of the
due and unpaid amount of the Loan shall not exceed the amount in default
(without regard to amounts owing solely as a result of any acceleration of the
Loan); (ii) the Borrower's assets shall be transferred to the Lender following
an Event of Default only to the extent of the failure of the Borrower to meet
the payment schedule of the Loan; and (iii) all rights of the Lender to the
Common Stock purchased with the proceeds of the Loan covered by the Pledge
Agreement following an Event of Default shall be governed by the terms of the
Pledge Agreement.

                                        8
<Page>

                                   ARTICLE VI

                            MISCELLANEOUS PROVISIONS

      SECTION 6.1 PAYMENTS DUE TO THE LENDER.

      If any amount is payable by the Borrower to the Lender pursuant to any
indemnity obligation contained herein, then the Borrower shall pay, at the time
or times provided therefor, any such amount and shall indemnify the Lender
against and hold it harmless from any loss of damage resulting from or arising
out of the nonpayment or delay in payment of any such amount. If any amounts as
to which the Borrower has so indemnified the Lender hereunder shall be assessed
or levied against the Lender, the Lender may notify the Borrower and make
immediate payment thereof, together with interest or penalties in connection
therewith, and shall thereupon be entitled to and shall receive immediate
reimbursement therefor from the Borrower together with interest on each such
amount as provided in section 2.2(c). Notwithstanding any other provision
contained in this Loan Agreement, the covenants and agreements of the Borrower
contained in this section 6.1 shall survive payment of the Promissory Note and
termination of this Loan Agreement.

      SECTION 6.2 PAYMENTS.

      All payments hereunder and under the Promissory Note shall be made without
set-off or counterclaim and in such amounts as may be necessary in order that
all such payments shall not be less than the amounts otherwise specified to be
paid under this Loan Agreement and the Promissory Note, subject to any
applicable tax withholding requirements. Upon payment in full of the Promissory
Note, the Lender shall mark such Promissory Note "Paid" and return it to the
Borrower.

      SECTION 6.3 SURVIVAL.

      All agreements, representations and warranties made herein shall survive
the delivery of this Loan Agreement and the Promissory Note.

      SECTION 6.4 MODIFICATIONS, CONSENTS AND WAIVERS; ENTIRE AGREEMENT.

      No modification, amendment or waiver of or with respect to any provision
of this Loan Agreement, the Promissory Note, the Pledge Agreement, or any of the
other Loan Documents, nor consent to any departure from any of the terms or
conditions thereof, shall in any event be effective unless it shall be in
writing and signed by the party against whom enforcement thereof is sought. Any
such waiver or consent shall be effective only in the specific instance and for
the purpose for which given. No consent to or demand on a party in any case
shall, of itself, entitle it to any other or further notice or demand in similar
or other circumstances. This Loan Agreement embodies the entire agreement and

                                        9
<Page>

understanding between the Lender and the Borrower and supersedes all prior
agreements and understandings relating to the subject matter hereof.

      SECTION 6.5 REMEDIES CUMULATIVE.

      Each and every right granted to the Lender hereunder or under any other
document delivered hereunder or in connection herewith, or allowed it by law or
equity, shall be cumulative and may be exercised from time to time. No failure
on the part of the Lender or the holder of the Promissory Note to exercise, and
no delay in exercising, any right shall operate as a waiver thereof, nor shall
any single or partial exercise of any right preclude any other or future
exercise thereof or the exercise of any other right. The due payment and
performance of the obligations under the Loan Documents shall be without regard
to any counterclaim, right of offset or any other claim whatsoever which the
Borrower may have against the Lender and without regard to any other obligation
of any nature whatsoever which the Lender may have to the Borrower, and no such
counterclaim or offset shall be asserted by the Borrower in any action, suit or
proceeding instituted by the Lender for payment or performance of such
obligations.

      SECTION 6.6 FURTHER ASSURANCES; COMPLIANCE WITH COVENANTS.

      At any time and from time to time, upon the request of the Lender, the
Borrower shall execute, deliver and acknowledge or cause to be executed,
delivered and acknowledged, such further documents and instruments and do such
other acts and things as the Lender may reasonably request in order to fully
effect the terms of this Loan Agreement, the Promissory Note, the Pledge
Agreement, the other Loan Documents and any other agreements, instruments and
documents delivered pursuant hereto or in connection with the Loan.

      SECTION 6.7 NOTICES.

      Except as otherwise specifically provided for herein, all notice,
requests, reports and other communications pursuant to this Loan Agreement shall
be in writing, either by letter (delivered by hand or commercial messenger
service or sent by registered or certified mail, return receipt requested,
except for routine reports delivered in compliance with Article VI hereof which
may be sent by ordinary first-class mail) or fax addressed as follows:

     (a) If to the Borrower:

            [INSERT NAME OF TRUSTEE], Trustee
            Hampden Bank Employee Stock
             Ownership Plan and Trust
            [INSERT STREET ADDRESS]
            [INSERT CITY, STATE AND ZIP CODE]

                                       10
<Page>

     (b) If to the Lender:

            [INSERT NAME OF LENDER]
            [INSERT STREET ADDRESS]
            [INSERT CITY, STATE AND ZIP CODE]

Any notice, request or communication hereunder shall be deemed to have been
given on the day on which it is delivered by hand or by commercial messenger
service, or sent by facsimile, to such party at its address specified above, or,
if sent by mail, on the third Business Day after the day deposited in the mail,
postage prepaid, addressed as aforesaid. Any party may change the person or
address to whom or which notices are to be given hereunder, by notice duly given
hereunder; provided, however, that any such notice shall be deemed to have been
given only when actually received by the party to whom it is addressed.

      SECTION 6.8 COUNTERPARTS.

      This Loan Agreement may be signed in any number of counterparts which,
when taken together, shall constitute one and the same document.

      SECTION 6.9 CONSTRUCTION; GOVERNING LAW.

      The headings used in the table of contents and in this Loan Agreement are
for convenience only and shall not be deemed to constitute a part hereof. All
uses herein of any gender or of singular or plural terms shall be deemed to
include uses of the other genders or plural or singular terms, as the context
may require. All references in this Loan Agreement of an Article or section
shall be to an Article or section of this Loan Agreement, unless otherwise
specified. This Loan Agreement, the Promissory Note, the Pledge Agreement and
the other Loan Documents shall be governed by, and construed and interpreted in
accordance with, the laws of the Commonwealth of Massachusetts.

      SECTION 6.10 SEVERABILITY.

      Wherever possible, each provision of this Loan Agreement shall be
interpreted in such manner as to be effective and valid under applicable law;
however, the provisions of this Loan Agreement are severable, and if any clause
of provision hereof shall be held invalid or unenforceable in whole or in part
in any jurisdiction, then such invalidity or unenforceability shall affect only
such clause or provision, or part thereof, in such jurisdiction and shall not in
any manner affect such clause or provision in any other jurisdiction, or any
other clause or provisions in this Loan Agreement in any jurisdiction. Each of
the covenants, agreements and conditions contained in this Loan Agreement
independent, and compliance by a party with any of them shall not excuse
non-compliance by such party with any other. The Borrower shall not take any
action the effect of which shall constitute a breach or violation of any
provision of this Loan Agreement.

                                       11
<Page>

      SECTION 6.11 BINDING EFFECT: NO ASSIGNMENT OR DELEGATION.

      This Loan Agreement shall be binding upon and inure to the benefit of the
Borrower and its successors and the Lender and its successors and assigns. The
rights and obligations of the Borrower under this Agreement shall not be
assigned or delegated without the prior written consent of the Lender, and any
purported assignment or delegation without such consent shall be void.

      IN WITNESS WHEREOF, the parties have caused this Loan Agreement to be
executed as of the date first written above.

                                          Hampden Bank Employee Stock
                                          Ownership Plan and Trust

                                          By:
                                          -------------------------------------
                                          Trustee

                                          [LENDER]

                                          By:
                                             ----------------------------------

                                       12
<Page>

                                     FORM OF
                                PLEDGE AGREEMENT

      THIS PLEDGE AGREEMENT ("Pledge Agreement") is made as of the __ day of
__________________ 200_, by and between [INSERT NAME OF TRUSTEE], trustee
("Borrower") of the trust established under Article VIII, and which forms a part
of, the Hampden Bank Employee Stock Ownership Plan and Trust ("Pledgor"), and
____________, a corporation organized and existing under the laws of [INSERT
STATE OF INCORPORATION] ("Pledgee").

                                   WITNESSETH

      WHEREAS, this Pledge Agreement is being executed and delivered to the
Pledgee pursuant to the terms of a Loan Agreement ("Loan Agreement"), by and
between the Pledgor and the Pledgee;

      NOW, THEREFORE, in consideration of the mutual agreements contained herein
and in the Loan Agreement, the parties hereto do hereby covenant and agree as
follows:

      SECTION 1. DEFINITIONS. The following definitions shall apply for purposes
of this Pledge Agreement, except to the extent that a different meaning is
plainly indicated by the context; all capitalized terms used but not defined
herein shall have the respective meanings assigned to them in the Loan
Agreement:

      COLLATERAL shall mean the Pledged Shares and, subject to section 5 hereof,
and to the extent permitted by applicable law, all rights with respect thereto,
and all proceeds of such Pledged Shares and rights.

      ESOP shall mean the Hampden Bank Employee Stock Ownership Plan and Trust.

      EVENT OF DEFAULT shall mean an event so defined in the Loan Agreement.

      LIABILITIES shall mean all the obligations of the Pledgor to the Pledgee,
howsoever created, arising or evidenced, whether direct or indirect, absolute or
contingent, now or hereafter existing, or due or to become due, under the Loan
Agreement and the Promissory Note.

      PLEDGED SHARES shall mean all the Shares of Common Stock of the Pledgee
purchased by the Pledgor with the proceeds of the loan made by the Pledgee to
the Pledgor pursuant to the Loan Agreement, but excluding any such shares
previously released pursuant to section 4.

      SECTION 2. PLEDGE. To secure the payment of and performance of all the
Liabilities, the Pledgor hereby pledges to the Pledgee, and grants to the
Pledgee, a security interest in, and lien upon, the Collateral.

<Page>

      SECTION 3. REPRESENTATIONS AND WARRANTIES OF THE PLEDGOR. The Pledgor
represents, warrants, and covenants to the Pledgee as follows:

      (a) the execution, delivery and performance of this Pledge Agreement and
the pledging of the Collateral hereunder do not and will not conflict with,
result in a violation of, or constitute a default under, any agreement binding
upon the Pledgor;

      (b) the Pledged Shares are and will continue to be owned by the Pledgor
free and clear of any liens or rights of any other person except the lien
hereunder and under the Loan Agreement in favor of the Pledgee, and the security
interest of the Pledgee in the Pledged Shares and the proceeds thereof is and
will continue to be prior to and senior to the rights of all others;

      (c) this Pledge Agreement is the legal, valid, binding and enforceable
obligation of the Pledgor in accordance with its terms;

      (d) the Pledgor shall, from time to time, upon request of the Pledgee,
promptly deliver to the Pledgee such stock powers, proxies, and similar
documents, satisfactory in form and substance to the Pledgee, with respect to
the Collateral as the Pledgee may reasonably request; and

      (e) subject to the first sentence of section 4(b), the Pledgor shall not,
so long as any Liabilities are outstanding, sell, assign, exchange, pledge or
otherwise transfer or encumber any of its rights in and to any of the
Collateral.

      SECTION 4. ELIGIBLE COLLATERAL.

      (a) As used herein the term "Eligible Collateral" shall mean the amount of
Collateral which has an aggregate fair market value equal to the amount by which
the Pledgor is in default (without regard to any amounts owing solely as the
result of an acceleration of the Loan Agreement) or such lesser amount of
Collateral as may be required pursuant to Section 13 of this Pledge Agreement.

      (b) The Pledged Shares shall be released from this Pledge Agreement in a
manner conforming to the requirements of Treasury Regulation Section
54.4975-7(b)(8), as the same may be from time to time amended or supplemented,
and the applicable provisions of the ESOP. Subject to such Regulations, the
Pledgee may from time to time, after any Default or Event of Default, and
without prior notice to the Pledgor, transfer all or any part of the Eligible
Collateral in the name of the Pledgee or its nominee, without disclosing that
such Eligible Collateral is subject to any rights of the Pledgor and may from
time to time, whether before or after any of the Liabilities shall become due
and payable, without notice to the Pledgor, take all or any of the following
actions: (i) notify the parties obligated on any of the Eligible Collateral to
make payment to the Pledgee of any amounts due or due to become due thereunder,
(ii) release or exchange all or any part of the Eligible Collateral, or
compromise or extend or renew for any period (whether or

                                       2
<Page>

not longer than the original period) any obligations of any nature of any party
with respect thereto, and (iii) take control of any proceeds of the Eligible
Collateral.

      SECTION 5. DELIVERY.

      (a) The Pledgor shall deliver to the Pledgee upon execution of this Pledge
Agreement (i) either (A) certificates for the Pledged Shares, each certificate
duly signed in blank by the Pledgor or accompanied by a stock transfer power
duly signed in blank by the Pledgor and each such certificate accompanied by all
required documentary or stock transfer tax stamps or (B) if the Trustee does not
yet have possession of the Pledged Shares, an assignment by the Pledgor of all
the Pledgor's rights to and interest in the Pledged Shares and (ii) an
irrevocable proxy, in form and substance satisfactory to the Pledgee, signed by
the Pledgor with respect to the Pledged Shares.

      (b) So long as no Default or Event of Default shall have occurred and be
continuing, (i) the Pledgor shall be entitled to exercise any and all voting and
other rights pertaining to the Collateral or any part thereof for any purpose
not inconsistent with the terms of this Pledge Agreement, and (ii) the Pledgor
shall be entitled to receive any and all cash dividends or other distributions
paid in respect of the Collateral.

      SECTION 6. EVENTS OF DEFAULT.

      (a) If a Default or Event Default shall be existing, in addition to the
rights it may have under the Loan Agreement, the Promissory Note, and this
Pledge Agreement, or by virtue of any other instrument, (i) the Pledgee may
exercise, with respect to the Eligible Collateral, from time to time, any rights
and remedies available to it under the Uniform Commercial Code as in effect from
time to time in the Commonwealth of Massachusetts or otherwise available to it
and (ii) the Pledgee shall have the right, for and in the name, place and stead
of the Pledgor, to execute endorsement, assignments, stock powers and other
instruments of conveyance or transfer with respect to all or any of the Eligible
Collateral. Written notification of intended disposition of any of the Eligible
Collateral shall be given by the Pledgee to the Pledgor at least three (3)
Business Days before such disposition. Subject to section 13 below, any proceeds
of any disposition of Eligible Collateral may be applied by the Pledgee to the
payment of expenses in connection with the Eligible Collateral, including,
without limitation, reasonable attorneys' fees and legal expenses, and any
balance of such proceeds may be applied by the Pledgee toward the payment of
such of the Liabilities as are in Default, and in such order of application, as
the Pledgee may from time to time elect. No action of the Pledgee permitted
hereunder shall impair or affect its rights in and to the Eligible Collateral.
All rights and remedies of the Pledgee expressed hereunder are in addition to
all other rights and remedies possessed by it, including, without limitation,
those contained in the documents referred to in the definition of Liability in
section 1 hereof.

      (b) In any sale of any of the Eligible Collateral after a Default or an
Event of Default shall have occurred, the Pledgee is hereby authorized to comply
with any limitation or restriction in connection with such sale as it may be
advised by counsel if necessary in

                                       3
<Page>

order to avoid violation of applicable law (including, without limitation,
compliance with such procedures as may restrict the number of prospective
bidders and purchasers or further restrict such prospective bidders or
purchasers to persons who will represent and agree that they are purchasing for
their own account for investment and not with a view to the distribution or
resale of such Eligible Collateral), or in order to obtain such required
approval of the sale or of the purchase by any governmental regulatory authority
or official, and the Pledgor further agrees that such compliance shall not
result in such sale's being considered or deemed not to have been made in a
commercially reasonable manner, nor shall the Pledgee be liable or accountable
to the Pledgor for any discount allowed by reason of the fact that such Eligible
Collateral is sold in compliance with any such limitation or restriction.

      SECTION 7. PAYMENT IN FULL. Upon the payment in full of all outstanding
Liabilities, this Pledge Agreement shall terminate and the Pledgee shall
forthwith assign, transfer and deliver to the Pledgor, against receipt and
without recourse to the Pledgee, all Collateral then held by the Pledgee
pursuant to the Pledge Agreement.

      SECTION 8. NO WAIVER. No failure or delay in the part of the Pledgee in
exercising any right or remedy hereunder or under any other document which
confers or grants any rights to the Pledgee in respect of the Liabilities shall
operate as a waiver thereof nor shall any single or partial exercise of any such
rights or remedy preclude any other or further exercise thereof or the exercise
of any other right or remedy of the Pledgee.

      SECTION 9. BINDING EFFECT; NO ASSIGNMENT OR DELEGATION. This Pledge
Agreement shall be binding upon and inure to the benefit of the Pledgor, the
Pledgee and their respective successors and assigns, except that the Pledgor may
not assign or transfer its rights hereunder without the prior written consent of
the Pledgee (which consent shall not unreasonably be withheld). Each duty or
obligation of the Pledgor to the Pledgee pursuant to the provisions of this
Pledge Agreement shall be performed in favor of any person or entity designated
by the Pledgee, and any duty or obligation of the Pledgee to the Pledgor may be
performed by any other person or entity designated by the Pledgee.

      SECTION 10. GOVERNING LAW. This Pledge Agreement shall be governed by and
construed in accordance with the laws of the Commonwealth of Massachusetts
applicable to agreements to be performed wholly within the Commonwealth of
Massachusetts.

      SECTION 11. NOTICES. All notices, requests, instructions or documents
hereunder shall be in writing and delivered personally or sent by United States
mail, registered or certified, return receipt requested, with proper postage
prepaid as follows:

      (a) If to the Pledgee:

            [INSERT NAME]
            [INSERT STREET ADDRESS]
            [INSERT CITY, STATE AND ZIP CODE]

                                       4
<Page>

      (b) If to the Pledgor:

            [INSERT NAME OF TRUSTEE], Trustee
            Hampden Bank Employee Stock
             Ownership Plan and Trust
            [INSERT STREET ADDRESS]
            [INSERT CITY, STATE AND ZIP CODE]

or at such other address as either of the parties may designate by written
notice to the other party. If delivered personally, the date on which a notice,
request, instruction or document is delivered shall be the date on which such
delivery is made, and, if delivered by mail, the date on which such notice,
request, instruction, or document is deposited in the mail shall be the date of
delivery. Each notice, request, instruction or document shall bear the date on
which it is delivered.

      SECTION 12. INTERPRETATION. Wherever possible each provision of this
Pledge Agreement shall be interpreted in such manner as to be effective and
valid under applicable law, but if any provision herein shall be prohibited by
or invalid under such law, such provision shall be ineffective to the extent of
such prohibition or invalidity, without invalidating the remainder of such
provision or the remaining provisions hereof.

      SECTION 13. CONSTRUCTION. All provisions hereof shall be construed so as
to maintain (a) the ESOP as a qualified leveraged employee stock ownership plan
under section 401(a) and 4975(e)(7) of the Internal Revenue Code of 1986 (the
"Code"), (b) the Trust as exempt from taxation under section 501(a) of the Code
and (c) the Trust Loan as an exempt loan under section 54.4975-7(b) of the
Treasury Regulations and as described in Department of Labor Regulation section
2550.408b-3.

      IN WITNESS WHEREOF, this Pledge Agreement has been duly executed by the
parties hereto as of the day and year first above written.

                                       Hampden Bank Employee Stock
                                       Ownership Plan and Trust (Pledgor)

                                       By:
                                       ---------------------------------------
                                       Trustee

                                       ____________ (Pledgee)

                                       By:
                                          ------------------------------------

                                       5
<Page>

                                     FORM OF
                                 PROMISSORY NOTE

     FOR VALUE RECEIVED, the undersigned, Hampden Bank Employee Stock Ownership
Plan and Trust (the "Borrower"), hereby promises to pay to the order of Hampden
Bancorp, Inc. (the "Lender") up to [$_________] payable in accordance with the
Loan Agreement made and entered into between the Borrower and the Lender of even
date herewith ("Loan Agreement") pursuant to which this Promissory Note is
issued.

     The Principal Amount of this Promissory Note shall be payable in accordance
with the attached Schedule I.

     This Promissory Note shall bear interest at the rate per annum established
under the Loan Agreement, and shall be payable in [insert number of annual
installments] of principal and interest accordance with Schedule I.

     Anything herein to the contrary notwithstanding, the obligation of the
Borrower to make payments of interest shall be subject to the limitation that
payments of interest shall not be required to be made to the Lender to the
extent that the Lender's receipt thereof would not be permissible under the law
or laws applicable to the Lender limiting rates on interest which may be charged
or collected by the Lender. Any such payments on interest which are not made as
a result of the limitation referred to in the preceding sentence shall be made
by the Borrower to the Lender on the earliest interest payment date or dates on
which the receipt thereof would be permissible under the laws applicable to the
Lender limiting rates of interest which may be charged or collected by the
Lender. Such deferred interest shall not bear interest.

     Payments of both principal and interest on this Promissory Note are to be
made at the principal office of the Lender or such other place as the holder
hereof shall designate to the Borrower in writing, in lawful money of the United
States of America in immediately available funds.

     Failure to make any payments of principal on this Promissory Note when due,
or failure to make any payment of interest on this Promissory Note not later
than five (5) Business Days after the date when due, shall constitute a default
hereunder, whereupon the principal amount of accrued interest on this Promissory
Note shall immediately become due and payable in accordance with the terms of
the Loan Agreement.

<Page>

     This Promissory Note is secured by a Pledge Agreement between the Borrower
and the Lender of even date herewith and is entitled to the benefits thereof.

                                       Hampden Bank Employee Stock
                                       Ownership Plan and Trust

                                       By: Trustee
                                       ---------------------------

<Page>

                                   Schedule I

               Installment
                   No.              Date Due              Amount

                   1.
                   2.
                   3.
                   4.
                   5.
                   6.
                   7.
                   8.
                   9.
                  10.

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