Document:

Exhibit
        10.1

      ENFIELD
        FEDERAL SAVINGS AND LOAN ASSOCIATION

      EMPLOYMENT
        AGREEMENT

      

      THIS
        AGREEMENT
        (the
“Agreement”), made this 28th
        day of
        December, 2005, by and among ENFIELD
        FEDERAL SAVINGS AND LOAN ASSOCIATION, a
        federally-chartered financial institution (the “Association”), and
        DAVID J. O’CONNOR
        (“Executive”). References to the “Company” herein shall mean NEW
        ENGLAND BANCSHARES,
        INC.,
        a
        Maryland corporation and the Association’s holding company.

      

      W
        I T N E S S E T H

      

      WHEREAS,
        Executive serves in a position of substantial responsibility;

      

      WHEREAS,
        the
        Association wishes to assure the services of Executive for the period provided
        in this Agreement; and

      

      WHEREAS,
        Executive is willing to serve in the employ of the Association on a full-time
        basis for said period.

      

      NOW,
        THEREFORE,
        in
        consideration of the mutual covenants herein contained, and upon the other
        terms
        and conditions hereinafter provided, the parties hereby agree as
        follows:

      

      1.     Employment.
        Executive
        is employed as the President and Chief Executive Officer of the Association.
        Executive shall perform all duties and shall have all powers which are commonly
        incident to the offices of President and Chief Executive Officer of the
        Association or which, consistent with those offices, are delegated to him
        by the
        Board of Directors of the Association. During the term of this Agreement,
        Executive also agrees to serve, if elected, as an officer and/or director
        of any
        subsidiary of the Association and in such capacity carry out such duties
        and
        responsibilities reasonably appropriate to that office. 

      

      2.     Location
        and Facilities.
        The
        Executive will be furnished with the working facilities and staff customary
        for
        executive officers with the title and duties set forth in Section 1 and as
        are
        necessary for him to perform his duties. The location of such facilities
        and
        staff shall be at the principal administrative offices of the Association,
        or at
        such other site or sites customary for such offices.

      

      3.     Term.

      

      
        	 	
                a.

              	
                The
                  term of this Agreement shall be (i) the initial term, consisting
                  of the
                  period commencing on the date of this Agreement (the “Effective Date”) and
                  ending on the third anniversary of the Effective Date, plus (ii)
                  any and
                  all extensions of the initial term made pursuant to this Section
                  3.

              

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      
        	
              	
                b.

              	
                Commencing
                  on the first year anniversary date of this Agreement, and continuing
                  on
                  each anniversary thereafter, the disinterested members of the boards
                  of
                  directors of the Association may extend the Agreement an additional
                  year
                  such that the remaining term of the Agreement shall be thirty-six
                  (36)
                  months, unless Executive elects not to extend the term of this
                  Agreement
                  by giving written notice in accordance with Section 19 of this
                  Agreement.
                  The Board of Directors of the Association (the “Board”) will review the
                  Agreement and Executive’s performance annually for purposes of determining
                  whether to extend the Agreement and the rationale and results thereof
                  shall be included in the minutes of the Board’s meeting. The Executive
                  shall receive notice as soon as possible after such review as to
                  whether
                  the Agreement is to be
                  extended.

              

      4.     Base
        Compensation.

      

      
        	 	
                a.

              	
                The
                  Association agrees to pay the Executive during the term of this
                  Agreement
                  a base salary at the rate of $220,000
                  per year, payable in accordance with customary payroll
                  practices.

              

      

      

      
        	 	
                b.

              	
                The
                  Board shall review annually the rate of the Executive’s base salary based
                  upon factors they deem relevant, and may maintain or increase his
                  salary,
                  provided that no such action shall reduce the rate of salary below
                  the
                  rate in effect on the Effective
                  Date.

              

      

      

      
        	 	
                c.

              	
                In
                  the absence of action by the Board, the Executive shall continue
                  to
                  receive salary at the annual rate specified on the Effective Date
                  or, if
                  another rate has been established under the provisions of this
                  Section 4,
                  the rate last properly established by action of the Board under
                  the
                  provisions of this Section 4.

              

      

      

      5.     Bonuses.
        The
        Executive shall be entitled to participate in discretionary bonuses or other
        incentive compensation programs that the Association may award from time
        to time
        to senior management employees pursuant to bonus plans or
        otherwise.

      

      6.     Benefit
        Plans.
        The
        Executive shall be entitled to participate in such life insurance, medical,
        dental, pension, profit sharing, retirement and stock-based compensation
        plans
        and other programs and arrangements as may be approved from time to time
        by the
        Company and the Association for the benefit of their employees.

      

      7.     Vacation
        and Leave.

      

      
        	 	
                a.

              	
                The
                  Executive shall be entitled to vacation and other leave in accordance
                  with
                  policy for senior executives, or otherwise as approved by the
                  Board.

              

      

      

      
        	 	
                b.

              	
                In
                  addition to paid vacation and other leave, the Executive shall
                  be
                  entitled, without loss of pay, to absent himself voluntarily from
                  the
                  performance of his employment for such additional periods of time
                  and for
                  such valid and legitimate

              

      

      
        
           

        

        
          2

          
            

          

        

        
           

        

      

      reasons
        as the Board may in its discretion determine. Further, the Board may grant
        to
        the Executive a leave or leaves of absence, with or without pay, at such
        time or
        times and upon such terms and conditions as the Board in its discretion may
        determine.

      

      8.     Expense
        Payments and Reimbursements.
        The
        Executive shall be reimbursed for all reasonable out-of-pocket business expenses
        that he shall incur in connection with his services under this Agreement
        upon
        substantiation of such expenses in accordance with applicable policies of
        the
        Association.

       

      9.     Automobile
        Allowance.
        During
        the term of this Agreement, the Executive shall be entitled to an automobile
        allowance on terms no less favorable that those in effect immediately prior
        to
        the execution of this Agreement. Executive shall comply with reasonable
        reporting and expense limitations on the use of such automobile as may be
        established by the Association from time to time, and the Association shall
        annually include on Executive’s Form W-2 any amount of income attributable to
        Executive’s personal use of such automobile.

      

      10.  
Loyalty
        and Confidentiality.

      

      
        	 	
                a.

              	
                During
                  the term of this Agreement Executive: (i) shall devote all his
                  time,
                  attention, skill, and efforts to the faithful performance of his
                  duties
                  hereunder; provided, however, that from time to time, Executive
                  may serve
                  on the boards of directors of, and hold any other offices or positions
                  in,
                  companies or organizations which will not present any conflict
                  of interest
                  with the Association or any of their subsidiaries or affiliates,
                  unfavorably affect the performance of Executive’s duties pursuant to this
                  Agreement, or violate any applicable statute or regulation and
                  (ii) shall not engage in any business or activity contrary to the
                  business affairs or interests of the
                  Association.

              

      

      

      
        	 	
                b.

              	
                Nothing
                  contained in this Agreement shall prevent or limit Executive’s right to
                  invest in the capital stock or other securities of any business
                  dissimilar
                  from that of the Association, or, solely as a passive, minority
                  investor,
                  in any business.

              

      

      

      
        	 	
                c.
                  

              	
                Executive
                  agrees to maintain the confidentiality of any and all information
                  concerning the operation or financial status of the Company and
                  the
                  Association; the names or addresses of any of its borrowers, depositors
                  and other customers; any information concerning or obtained from
                  such
                  customers; and any other information concerning the Company and
                  the
                  Association to which he may be exposed during the course of his
                  employment. The Executive further agrees that, unless required
                  by law or
                  specifically permitted by the Board in writing, he will not disclose
                  to
                  any person or entity, either during or subsequent to his employment,
                  any
                  of the above-mentioned information which is not generally known
                  to the
                  public, nor shall he employ such information in any way other than
                  for the
                  benefit of the Company and the
                  Association.

              

      

      
        
           

        

        
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      11.   Termination
        and Termination Pay.
        Subject
        to Section 12 of this Agreement, Executive’s employment under this Agreement may
        be terminated in the following circumstances:

      

      
        	 	
                a.

              	
                Death.
                  Executive’s employment under this Agreement shall terminate upon his death
                  during the term of this Agreement, in which event Executive’s estate shall
                  be entitled to receive the compensation due to the Executive through
                  the
                  last day of the calendar month in which his death
                  occurred.

              

      

      

      
        	 	
                b.

              	
                Retirement.
                  This Agreement shall be terminated upon Executive’s retirement under the
                  retirement benefit plan or plans in which he participates pursuant
                  to
                  Section 6 of this Agreement or
                  otherwise.

              

      

      

      
        	 	
                c.

              	
                Disability.

              

      

       

      
        	 	 	
                i.

              	
                The
                  Board or Executive may terminate Executive’s employment after having
                  determined Executive has a Disability. For purposes of this Agreement,
                  “Disability” means a physical or mental infirmity that impairs Executive’s
                  ability to substantially perform his duties under this Agreement
                  and that
                  results in Executive becoming eligible for long-term disability
                  benefits
                  under any long-term disability plans of the Company and the Association
                  (or, if there are no such plans in effect, that impairs Executive’s
                  ability to substantially perform his duties under this Agreement
                  for a
                  period of one hundred eighty (180) consecutive days). The Board
                  shall
                  determine whether or not Executive is and continues to be permanently
                  disabled for purposes of this Agreement in good faith, based upon
                  competent medical advice and other factors that they reasonably
                  believe to
                  be relevant. As a condition to any benefits, the Board may require
                  Executive to submit to such physical or mental evaluations and
                  tests as it
                  deems reasonably appropriate.

              

      

      

      
        	 	
                ii.

              	
                In
                  the event of such Disability, Executive’s obligation to perform services
                  under this Agreement will terminate. The Association will pay Executive,
                  as Disability pay, an amount equal to 100% of Executive’s bi-weekly rate
                  of base salary in effect as of the date of his termination of employment
                  due to Disability. Disability payments will be made on a monthly
                  basis and
                  will commence on the first day of the month following the effective
                  date
                  of Executive’s termination of employment for Disability and end on the
                  earlier of: (A) the date he returns to full-time employment at
                  the
                  Association in the same capacity as he was employed prior to his
                  termination for Disability; (B) his death; or (C) upon attainment
                  of age
                  65. Such payments shall be reduced by the amount of any short-
                  or
                  long-term disability benefits payable to the Executive under any
                  other
                  disability programs sponsored by the Association. In addition,
                  during any
                  period of

              

      

      
        
           

        

        
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      Executive’s
        Disability, Executive and his dependents shall, to the greatest extent possible,
        continue to be covered under all benefit plans (including, without limitation,
        retirement plans and medical, dental and life insurance plans) of the
        Association, in which Executive participated prior to his Disability on the
        same
        terms as if Executive were actively employed by the Association.

      

      
        	 	
                d.

              	
                Termination
                  for Cause.

              

      

      

      
        	 	
                i.

              	
                The
                  Board may, by written notice to the Executive in the form and manner
                  specified in this paragraph, terminate his employment at any time,
                  for
                  “Cause”. The Executive shall have no right to receive compensation or
                  other benefits for any period after termination for Cause. Termination
                  for
                  “Cause” shall mean termination because of, in the good faith determination
                  of the Board, Executive’s: 

              

      

      

      
        	 	
                (1)

              	
                Personal
                  dishonesty;

              

      

      

      
        	 	
                (2)

              	
                Incompetence;

              

      

      

      
        	 	 	 	
                (3)

              	
                Willful
                  misconduct;

              

      

      

      
        	 	 	 	
                (4)

              	
                Breach
                  of fiduciary duty involving personal
                  profit;

              

      

      

      
        	 	 	 	
                (5)

              	
                Intentional
                  failure to perform stated duties;

              

      

      

      
        	 	 	 	
                (6)

              	
                Willful
                  violation of any law, rule or regulation (other than traffic violations
                  or
                  similar offenses) that reflects adversely on the reputation of
                  the Company
                  and the Association, any felony conviction, any violation of law
                  involving
                  moral turpitude or any violation of a final cease-and-desist order;
                  or

              

      

      

      
        	 	 	 	
                (7)

              	
                Material
                  breach by Executive of any provision of this
                  Agreement.

              

      

      

      
        	 	 	
                ii.

              	
                Notwithstanding
                  the foregoing, Executive shall not be deemed to have been terminated
                  for
                  Cause by the Association unless there shall have been delivered
                  to
                  Executive a copy of a resolution duly adopted at a meeting of such
                  Board
                  where in the good faith opinion of the Board, Executive was guilty
                  of the
                  conduct described above and specifying the particulars
                  thereof.

              

      

      

      
        	 	
                e.

              	
                Voluntary
                  Termination by Executive.
                  In addition to his other rights to terminate under this Agreement,
                  Executive may voluntarily terminate employment during the term
                  of this
                  Agreement upon at least sixty (60) days prior written notice to
                  the

              

      

      
        
           

        

        
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      Boards,
        in which case Executive shall receive only his compensation, vested rights
        and
        employee benefits up to the date of his termination.

      

      
        	 	
                f.

              	
                Without
                  Cause or With Good Reason.

              

      

      

      
        	 	
                i.

              	
                In
                  addition to termination pursuant to Sections 11(a) through 11(e)
                  the
                  Boards, may, by written notice to Executive, immediately terminate
                  his
                  employment at any time for a reason other than Cause (a termination
                  “Without Cause”) and Executive may, by written notice to the Board,
                  immediately terminate this Agreement at any time within ninety
                  (90) days
                  following an event constituting “Good Reason” as defined below (a
                  termination “With Good Reason”).

              

      

      

      
        	 	
                ii.

              	
                Subject
                  to Section 12 of this Agreement, in the event of termination under
                  this
                  Section 11(f), Executive shall be entitled to receive his base
                  salary for
                  the remaining term of the Agreement paid in one lump sum within
                  ten (10)
                  calendar days of such termination. Also, in such event, Executive
                  shall,
                  for the remaining term of the Agreement, receive the benefits he
                  would
                  have received during the remaining term of the Agreement under
                  any
                  retirement programs (whether tax-qualified or non-qualified) in
                  which
                  Executive participated prior to his termination (with the amount
                  of the
                  benefits determined by reference to the benefits received by the
                  Executive
                  or accrued on his behalf under such programs during the twelve
                  (12) months
                  preceding his termination) and continue to participate in any benefit
                  plans of the Association that provide health (including medical
                  and
                  dental), or life insurance, or similar coverage upon terms no less
                  favorable than the most favorable terms provided to senior executives
                  of
                  the Association during such period. In the event that the Association
                  are
                  unable to provide such coverage by reason of Executive no longer
                  being an
                  employee, the Association shall provide Executive with comparable
                  coverage
                  on an individual policy basis.

              

      

      

      
        	 	
                iii.

              	
                “Good
                  Reason” shall exist if, without Executive’s express written consent, the
                  Association materially breach any of their respective obligations
                  under
                  this Agreement. Without limitation, such a material breach shall
                  be deemed
                  to occur upon any of the following:

              

      

      

      
        	 	
                (1)

              	
                A
                  material reduction in Executive’s responsibilities or authority in
                  connection with his employment with the
                  Association;

              

      

      

      
        	 	
                (2)

              	
                Assignment
                  to Executive of duties of a non-executive nature or duties for
                  which he is
                  not reasonably equipped by his skills and
                  experience;

              

      

      
        
           

        

        
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                (3)

              	
                Failure
                  of the Executive to be nominated or re-nominated to the
                  Board

              

      

      

      
        	 	
                (4)

              	
                A
                  reduction in salary or benefits contrary to the terms of this Agreement,
                  or, following a Change in Control as defined in Section 12 of this
                  Agreement, any reduction in salary or material reduction in benefits
                  below
                  the amounts to which he was entitled prior to the Change in
                  Control;

              

      

      

      
        	 	 	 	
                (5)

              	
                Termination
                  of incentive and benefit plans, programs or arrangements, or reduction
                  of
                  Executive’s participation to such an extent as to materially reduce their
                  aggregate value below their aggregate value as of the Effective
                  Date;
                  

              

      

      

      
        	 	 	 	
                (6)

              	
                A
                  requirement that Executive relocate his principal business office
                  or his
                  principal place of residence outside of the area consisting of
                  a
                  twenty-five (25) mile radius from the current main office and any
                  branch
                  of the Association, or the assignment to Executive of duties that
                  would
                  reasonably require such a relocation;
                  or

              

      

       

      
        	
              	 	 	
                (7)

              	
                Liquidation
                  or dissolution of the Company or the
                  Association.

              

      

      

      
        	 	 	
                iv.

              	
                Notwithstanding
                  the foregoing, a reduction or elimination of the Executive’s benefits
                  under one or more benefit plans maintained by the Company or the
                  Association as part of a good faith, overall reduction or elimination
                  of
                  such plans or plans or benefits thereunder applicably to all participants
                  in a manner that does not discriminate against Executive (except
                  as such
                  discrimination may be necessary to comply with law) shall not constitute
                  an event of Good Reason or a material breach of this Agreement,
                  provided
                  that benefits of the type or to the general extent as those offered
                  under
                  such plans prior to such reduction or elimination are not available
                  to
                  other officers of the Association or any company that controls
                  the
                  Association under a plan or plans in or under which Executive is
                  not
                  entitled to participate.

              

      

       

      
        	 	
                g.

              	
                Continuing
                  Covenant Not to Compete or Interfere with Relationships.
                  Regardless of anything herein to the contrary, following a termination
                  by
                  the Association or Executive pursuant to Section
                  11(f):

              

      

      

      
        	 	
                i.

              	
                Executive’s
                  obligations under Section 10(c) of this Agreement will continue
                  in effect;
                  and

              

      

      

      
        	 	 	
                ii.

              	
                During
                  the period ending on the first anniversary of such termination,
                  the
                  Executive shall not serve as an officer, director or employee of
                  any
                  bank

              

      

      
        
           

        

        
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      holding
        company, bank, savings bank, savings and loan holding company, or mortgage
        company (any of which, a “Financial Institution”) which Financial Institution
        offers products or services competing with those offered by the Association
        from
        any office within fifty (50) miles from the main office or any branch of
        the
        Association and shall not interfere with the relationship of the Company
        and the
        Association and any of its employees, agents, or representatives. 

      

      12.   Termination
        in Connection with a Change in Control.
        

      

      
        	 	
                a.

              	
                For
                  purposes of this Agreement, a Change in Control means any of the
                  following
                  events:

              

      

      

      
        	 	
                (i)

              	
                Merger:
                  The Company merges into or consolidates with another corporation,
                  or
                  merges another corporation into the Company, and as a result less
                  than a
                  majority of the combined voting power of the resulting corporation
                  immediately after the merger or consolidation is held by persons
                  who were
                  stockholders of the Company immediately before the merger or
                  consolidation.

              

      

      

      
        	                       
                	(ii)    	
                Acquisition
                  of Significant Share Ownership:
                  There is filed or required to be filed a report on Schedule 13D
                  or another
                  form or schedule (other than Schedule 13G) required under Sections
                  13(d)
                  or 14(d) of the Securities Exchange Act of 1934, if the schedule
                  discloses
                  that the filing person or persons acting in concert has or have
                  become the
                  beneficial owner of 25% or more of a class of the Company’s voting
                  securities, but this clause (b) shall not apply to beneficial ownership
                  of
                  Company voting shares held in a fiduciary capacity by an entity
                  of which
                  the Company directly or indirectly beneficially owns 50% or more
                  of its
                  outstanding voting securities.

              

      

      

      
        	                               
                	(iii)           
                	
                Change
                  in Board Composition:
                  During any period of two consecutive years, individuals who constitute
                  the
                  Company’s Board of Directors at the beginning of the two-year period cease
                  for any reason to constitute at least a majority of the Company’s Board of
                  Directors; provided, however, that for purposes of this clause
                  (iii), each
                  director who is first elected by the board (or first nominated
                  by the
                  board for election by the stockholders) by a vote of at least two-thirds
                  (2/3) of the directors who were directors at the beginning of the
                  two-year
                  period shall be deemed to have also been a director at the beginning
                  of
                  such period; or

              

      

      

      
        	                               
                	(iv)           
                	
                Sale
                  of Assets:
                  The Company sells to a third party all or substantially all of
                  its assets.
                  

              

      

      
        
           

        

        
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      Notwithstanding
        anything in this Agreement to the contrary, in no event shall reorganization
        of
        the Association from the mutual holding company form or organization to the
        full
        stock holding company form of organization (including the elimination of
        the
        mutual holding company) constitute a “Change in Control” for purposes of this
        Agreement.

      

      
        	 	
                b.

              	
                Termination.
                  If within the period ending two (2) years after a Change in Control,
                  (i)
                  the Company and the Association shall terminate the Executive’s employment
                  Without Cause, or (ii) Executive voluntarily terminates his employment
                  With Good Reason, the Company and the Association shall, within
                  ten
                  calendar days of the termination of Executive’s employment, make a
                  lump-sum cash payment to him equal to three (3) times the Executive’s
                  average Annual Compensation over the five (5) most recently completed
                  calendar years ending with the year immediately preceding the effective
                  date of the Change in Control. In determining Executive’s average Annual
                  Compensation, Annual Compensation shall include base salary and
                  any other
                  taxable income, including but not limited to amounts related to
                  the
                  granting, vesting or exercise of restricted stock or stock option
                  awards,
                  commissions, bonuses (whether paid or accrued for the applicable
                  period),
                  as well as, retirement benefits, director or committee fees and
                  fringe
                  benefits paid or to be paid to Executive or paid for Executive’s benefit
                  during any such year, profit sharing, employee stock ownership
                  plan and
                  other retirement contributions or benefits, including to any tax-qualified
                  plan or arrangement (whether or not taxable) made or accrued on
                  behalf of
                  Executive of such year. The cash payment made under this Section
                  12(a)
                  shall be made in lieu of any payment also required under Section
                  11(f) of
                  this Agreement because of a termination in such period. Executive’s rights
                  under Section 11(f) are not otherwise affected by this Section
                  12. Also,
                  in such event, the Executive shall, for a thirty-six (36) month
                  period
                  following his termination of employment, receive the benefits he
                  would
                  have received over such period under any retirement programs (whether
                  tax-qualified or nonqualified) in which the Executive participated
                  prior
                  to his termination (with the amount of the benefits determined
                  by
                  reference to the benefits received by the Executive or accrued
                  on his
                  behalf under such programs during the twelve (12) months preceding
                  the
                  Change in Control) and continue to participate in any benefit plans
                  of the
                  Company and the Association that provide health (including medical
                  and
                  dental), or life insurance, or similar coverage upon terms no less
                  favorable than the most favorable terms provided to senior executives
                  of
                  the Association during such period. In the event that the Company
                  and the
                  Association are unable to provide such coverage by reason of the
                  Executive
                  no longer being an employee, the Company and the Association shall
                  provide
                  the Executive with comparable coverage on an individual
                  policy.

              

      

      
        
           

        

        
          9

          
            

          

        

        
           

        

      

      
        	                	c.                 
                	
                The
                  provisions of Section 12 and Sections 14 through 25, including
                  the defined
                  terms used is such sections, shall continue in effect until the
                  later of
                  the expiration of this Agreement or two (2) years following a Change
                  in
                  Control.

              

      

       

      13.     
        Indemnification
        and Liability Insurance.
        Subject
        to, and limited by Section 26(f) of this Agreement, the Association shall
        provide the following:

      

      
        	 	
                a.

              	
                Indemnification.
                  The Company and the Association agree to indemnify the Executive
                  (and his
                  heirs, executors, and administrators), and to advance expenses
                  related
                  thereto, to the fullest extent permitted under applicable law and
                  regulations against any and all expenses and liabilities reasonably
                  incurred by him in connection with or arising out of any action,
                  suit, or
                  proceeding in which he may be involved by reason of his having
                  been a
                  director or Executive of the Company, the Association or any of
                  their
                  subsidiaries (whether or not he continues to be a director or Executive
                  at
                  the time of incurring any such expenses or liabilities) such expenses
                  and
                  liabilities to include, but not be limited to, judgments, court
                  costs, and
                  attorney’s fees and the cost of reasonable settlements, such settlements
                  to be approved by the Board, if such action is brought against
                  the
                  Executive in his capacity as an Executive or director of the Company
                  and
                  the Association or any of their subsidiaries. Indemnification for
                  expense
                  shall not extend to matters for which the Executive has been terminated
                  for Cause. Nothing contained herein shall be deemed to provide
                  indemnification prohibited by applicable law or regulation.
                  Notwithstanding anything herein to the contrary, the obligations
                  of this
                  Section 13 shall survive the term of this Agreement by a period
                  of six (6)
                  years.

              

      

      

      
        	 	
                b.

              	
                Insurance.
                  During the period in which indemnification of the Executive is
                  required
                  under this Section, the Company and the Association shall provide
                  the
                  Executive (and his heirs, executors, and administrators) with coverage
                  under a directors’ and Executives’ liability policy at the expense of the
                  Company and the Association, at least equivalent to such coverage
                  provided
                  to directors and senior Executives of the Company and the
                  Association.

              

      

       

      14. 
Reimbursement
        of Executive’s Expenses to Enforce this Agreement.
        The
        Association shall reimburse the Executive for all reasonable out-of-pocket
        expenses, including, without limitation, reasonable attorney’s fees, incurred by
        the Executive in connection with successful enforcement by the Executive
        of the
        obligations of the Association to the Executive under this Agreement. Successful
        enforcement shall mean the grant of an award of money or the requirement
        that
        the Association take some action specified by this Agreement: (i) as a result
        of
        court order; or (ii) otherwise by the Association following an initial
        failure of the Association to pay such money or take such action promptly
        after
        written demand therefor from the Executive stating the reason that such money
        or
        action was due under this Agreement at or prior to the time of such
        demand.

      
        
           

        

        
          10

          
            

          

        

        
           

        

      

      

      15.    Limitation
        of Benefits under Certain Circumstances.
        If
        the
        payments and benefits pursuant to Section 12 of this Agreement, either alone
        or
        together with other payments and benefits which the Executive has the right
        to
        receive from the Association, would constitute a “parachute payment” under
        Section 280G of the Code, the payments and benefits pursuant to Section 12
        shall
        be reduced or revised, in the manner determined by the Executive, by the
        amount,
        if any, which is the minimum necessary to result in no portion of the payments
        and benefits under Section 12 being non-deductible to the Association pursuant
        to Section 280G of the Code and subject to the excise tax imposed under Section
        4999 of the Code. The determination of any reduction in the payments and
        benefits to be made pursuant to Section 12 shall be based upon the opinion
        of
        the Association’s independent public accountants and paid for by the
        Association. In the event that the Association and/or the Executive do not
        agree
        with the opinion of such counsel, (i) the Association shall pay to the Executive
        the maximum amount of payments and benefits pursuant to Section 12, as selected
        by the Executive, which such opinion indicates there is a high probability
        of
        such payments and benefits being deductible to the Association and not subject
        to the imposition of the excise tax imposed under Section 4999 of the Code
        and
        (ii) the Association may request, and the Executive shall have the right
        to
        demand that they request, a ruling from the IRS as to whether the disputed
        payments and benefits pursuant to Section 12 have such consequences. Any
        such
        request for a ruling from the IRS shall be promptly prepared and filed by
        the
        Association, but in no event later than thirty (30) days from the date of
        the
        opinion of counsel referred to above, and shall be subject to the Executive’s
        approval prior to filing, which shall not be unreasonably withheld. The
        Association and the Executive agree to be bound by any ruling received from
        the
        IRS and to make appropriate payments to each other to reflect any such rulings,
        together with interest at the applicable federal rate provided for in Section
        7872(f)(2) of the Code.

      

      16.    Injunctive
        Relief.
        If
        there
        is a breach or threatened breach of Section 11(g) of this Agreement or the
        prohibitions upon disclosure contained in Section 10(c) of this Agreement,
        the
        parties agree that there is no adequate remedy at law for such breach, and
        that
        the Association shall be entitled to injunctive relief restraining the Executive
        from such breach or threatened breach, but such relief shall not be the
        exclusive remedy hereunder for such breach. The parties hereto likewise agree
        that the Executive, without limitation, shall be entitled to injunctive relief
        to enforce the obligations of the Association under this Agreement.

      
 

      17.    Successors
        and Assigns.

      

      
        	                    
                	a.      
                	
                This
                  Agreement shall inure to the benefit of and be binding upon any
                  corporate
                  or other successor of the Association which shall acquire, directly
                  or
                  indirectly, by merger, consolidation, purchase or otherwise, all
                  or
                  substantially all of the assets or stock of the Company and the
                  Association.

              

      

      
        
           

        

        
          11

          
            

          

        

        
           

        

      

      
        	                     
                	b.              
                	
                Since
                  the Association is contracting for the unique and personal skills
                  of
                  Executive, Executive shall be precluded from assigning or delegating
                  his
                  rights or duties hereunder without first obtaining the written
                  consent of
                  the Association.

              

      

      

      18.     No
        Mitigation.
        Executive
        shall not be required to mitigate the amount of any payment provided for
        in this
        Agreement by seeking other employment or otherwise and no such payment shall
        be
        offset or reduced by the amount of any compensation or benefits provided
        to
        Executive in any subsequent employment.

      

      19.     Notices.
        All
        notices, requests, demands and other communications in connection with this
        Agreement shall be made in writing and shall be deemed to have been given
        when
        delivered by hand or 48 hours after mailing at any general or branch United
        States Post Office, by registered or certified mail, postage prepaid, addressed
        to the Association at their principal business offices and to Executive at
        his
        home address as maintained in the records of the Association.

       

      20.     No
        Plan Created by this Agreement.
        Executive
        and the Association expressly declare and agree that this Agreement was
        negotiated among them and that no provision or provisions of this Agreement
        are
        intended to, or shall be deemed to, create any plan for purposes of the Employee
        Retirement Income Security Act or any other law or regulation, and each party
        expressly waives any right to assert the contrary. Any assertion in any judicial
        or administrative filing, hearing, or process that such a plan was so created
        by
        this Agreement shall be deemed a material breach of this Agreement by the
        party
        making such an assertion.

      

      21.     Amendments.
        No
        amendments or additions to this Agreement shall be binding unless made in
        writing and signed by all of the parties, except as herein otherwise
        specifically provided.

      

      22.     Applicable
        Law.
        Except
        to the extent preempted by Federal law, the laws of the State of Connecticut
        shall govern this Agreement in all respects, whether as to its validity,
        construction, capacity, performance or otherwise.

      

      23.     Severability.
        The
        provisions of this Agreement shall be deemed severable and the invalidity
        or
        unenforceability of any provision shall not affect the validity or
        enforceability of the other provisions hereof.

      

      24.     Headings.
        Headings
        contained herein are for convenience of reference only.

      

      25.     Entire
        Agreement.
        This
        Agreement, together with any understanding or modifications thereof as agreed
        to
        in writing by the parties, shall constitute the entire agreement among the
        parties hereto with respect to the subject matter hereof, other than written
        agreements with respect to specific plans, programs or arrangements described
        in
        Sections 5 and 6. Upon

      
        
           

        

        
          12

          
            

          

        

        
           

        

      

      execution
        of this Agreement, the employment agreement entered into between the parties
        on
        June 4, 2002, will become null and void.

      

      26.     Required
        Provisions.
        In the
        event any of the foregoing provisions of this Section 26 are in conflict
        with
        the terms of this Agreement, this Section 26 shall prevail.

      

      
        	                
                	a.               
                	
                The
                  Association’s board of directors may terminate Executive’s employment at
                  any time, but any termination by the Association, other than Termination
                  for Cause, shall not prejudice Executive’s right to compensation or other
                  benefits under this Agreement. Executive shall not have the right
                  to
                  receive compensation or other benefits for any period after Termination
                  for Cause as defined in Section 11(d)
                  hereinabove.

              

      

      

      
        	                
                	b.              
                	
                If
                  Executive is suspended from office and/or temporarily prohibited
                  from
                  participating in the conduct of the Association’s affairs by a notice
                  served under Section 8(e)(3) or 8(g)(1) of the Federal Deposit
                  Insurance
                  Act, 12 U.S.C. §1818(e)(3) or (g)(1); the Association’s obligations under
                  this contract shall be suspended as of the date of service, unless
                  stayed
                  by appropriate proceedings. If the charges in the notice are dismissed,
                  the Association may in its discretion: (i) pay Executive all or
                  part of
                  the compensation withheld while their contract obligations were
                  suspended;
                  and (ii) reinstate (in whole or in part) any of the obligations
                  which were
                  suspended.

              

      

      

      
        	                
                	c.              
                	
                If
                  Executive is removed and/or permanently prohibited from participating
                  in
                  the conduct of the Association’s affairs by an order issued under Section
                  8(e)(4) or 8(g)(1) of the Federal Deposit Insurance Act, 12 U.S.C.
                  §1818(e)(4) or (g)(1), all obligations of the Association under
                  this
                  contract shall terminate as of the effective date of the order,
                  but vested
                  rights of the contracting parties shall not be
                  affected.

              

      

      

      
        	                	d.             
                	
                If
                  the Association is in default as defined in Section 3(x)(1) of
                  the Federal
                  Deposit Insurance Act, 12 U.S.C. §1813(x)(1) all obligations of the
                  Association under this contract shall terminate as of the date
                  of default,
                  but this paragraph shall not affect any vested rights of the contracting
                  parties.

              

      

      

      
        	                
                	e.             
                	
                All
                  obligations under this contract shall be terminated, except to
                  the extent
                  determined that continuation of the contract is necessary for the
                  continued operation of the Association: (i) by the Director of
                  the OTS (or
                  his designee), at the time the FDIC enters into an agreement to
                  provide
                  assistance to or on behalf of the Association under the authority
                  contained in Section 13(c) of the Federal Deposit Insurance Act,
                  12 U.S.C.
                  §1823(c); or (ii) by the Director of the OTS (or his designee) at
                  the time
                  the Director (or his designee) approves a supervisory merger to
                  resolve
                  problems related to the operations of the Association or when the
                  Association is determined by the Director to be in an unsafe or
                  unsound

              

      

      
        
           

        

        
          13

          
            

          

        

        
           

        

      

      condition.
        Any rights of the parties that have already vested, however, shall not be
        affected by such action.

      

      
        	              
                	f.                
                	
                Any
                  payments made to employees pursuant to this Agreement, or otherwise,
                  are
                  subject to and conditioned upon their compliance with 12 U.S.C.
§1828(k)
                  and FDIC regulation 12 C.F.R. Part 359, Golden Parachute and
                  Indemnification Payments. 

              

      

      

      
        	              
                	g.               
                	
                Notwithstanding
                  anything in this Agreement to the contrary, if the Company or the
                  Association in good faith determines that amounts that, as of the
                  effective date of the Executive’s termination of employment are or may
                  become payable to the Executive upon termination of his employment
                  hereunder are required to be suspended or delayed for six (6) months
                  in
                  order to satisfy the requirements of Section 409A of the Internal
                  Revenue
                  Code, then the Company or the Association will so advise the Executive,
                  and any such payments shall be suspended and accrued for six months,
                  whereupon they shall be paid to the Executive in a lump sum (together
                  with
                  interest thereon at the then-prevailing prime
                  rate).

              

      

      

      IN
        WITNESS WHEREOF,
        the
        parties hereto have executed this Agreement on the date first set forth
        above.

      

      

      
        	
                Attest:

              	 	
                ENFIELD
                  FEDERAL SAVINGS

              
	 	 	
                AND
                  LOAN ASSOCIATION

              
	 	 	 	 
	
                /s/
                  Nancy Grady

              	 	
                By:

              	
                /s/
                  Peter Dow

              
	 	 	 	
                Chairman
                  of the Board of Directors

              
	 	 	 	 
	
                Witness:

              	 	
                EXECUTIVE

              
	 	 	 	 
	 	 	 	 
	
                /s/
                  Scott Nogles

              	 	
                /s/
                  David J. O’Connor

              
	 	 	
                David
                  J. O’Connor

              
	 	 	 	 

      

      
14Employment Agreement - New England Bancshares, Inc. and David J. O’Connor

    Exhibit
      10.2

    NEW
      ENGLAND BANCSHARES, INC.

    EMPLOYMENT
      AGREEMENT

    

    THIS
      AGREEMENT
      (the
“Agreement”), made this 28th
      day of
      December, 2005, by and among NEW
      ENGLAND BANCSHARES, INC.,
      a
      Maryland corporation (the “Company”), and
      DAVID J. O’CONNOR
      (“Executive”). References to the “Association” herein shall mean ENFIELD
      FEDERAL SAVINGS AND LOAN ASSOCIATION.

    

    W
      I T N E S S E T H

    

    WHEREAS,
      Executive serves in a position of substantial responsibility;

    

    WHEREAS,
      the
      Company wishes to assure the services of Executive for the period provided
      in
      this Agreement; and

    

    WHEREAS,
      Executive is willing to serve in the employ of the Company on a full-time basis
      for said period.

    

    NOW,
      THEREFORE,
      in
      consideration of the mutual covenants herein contained, and upon the other
      terms
      and conditions hereinafter provided, the parties hereby agree as
      follows:

    

    1.     Employment.
      Executive
      is employed as the President and Chief Executive Officer of the Company.
      Executive shall perform all duties and shall have all powers which are commonly
      incident to the offices of President and Chief Executive Officer of the Company
      or which, consistent with those offices, are delegated to him by the Board
      of
      Directors of the Company. During the term of this Agreement, Executive also
      agrees to serve, if elected, as an officer and/or director of any subsidiary
      of
      the Company and in such capacity carry out such duties and responsibilities
      reasonably appropriate to that office. 

    

    2.     Location
      and Facilities.
      The
      Executive will be furnished with the working facilities and staff customary
      for
      executive officers with the title and duties set forth in Section 1 and as
      are
      necessary for him to perform his duties. The location of such facilities and
      staff shall be at the principal administrative offices of the Company, or at
      such other site or sites customary for such offices.

    

    3.     Term.

    

    
      	 	 	
              The
                period of Executive’s employment under this Agreement shall be deemed to
                have commenced as of the date written above and shall continue for
                a
                period of thirty-six (36) full calendar months. The term of this
                Agreement
                shall be extended for one day each day so that a constant thirty-six
                (36)
                calendar month term shall remain in effect, until such time as the
                Board
                of Directors of the Company (the “Board”) or Executive elects not to
                extend the term of the Agreement by giving written notice to the
                other
                party in accordance with the terms of this
                Agreement,

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    in
      which
      case the term of this Agreement shall be fixed and shall end on the third
      anniversary of the date of such written notice

    

    4.     Base
      Compensation.

    

    
      	 	
              a.

            	
              The
                Company agrees to pay the Executive during the term of this Agreement
                a
                base salary at the rate of $220,000
                per year, payable in accordance with customary payroll
                practices.

            

    

    

    
      	 	
              b.

            	
              The
                Board shall review annually the rate of the Executive’s base salary based
                upon factors they deem relevant, and may maintain or increase his
                salary,
                provided that no such action shall reduce the rate of salary below
                the
                rate in effect on the Effective
                Date.

            

    

    

    
      	 	
              c.

            	
              In
                the absence of action by the Board, the Executive shall continue
                to
                receive salary at the annual rate specified on the Effective Date
                or, if
                another rate has been established under the provisions of this Section
                4,
                the rate last properly established by action of the Board under the
                provisions of this Section 4.

            

    

    

    5.     Bonuses.
      The
      Executive shall be entitled to participate in discretionary bonuses or other
      incentive compensation programs that the Company may award from time to time
      to
      senior management employees pursuant to bonus plans or otherwise.

    

    6.     Benefit
      Plans.
      The
      Executive shall be entitled to participate in such life insurance, medical,
      dental, pension, profit sharing, retirement and stock-based compensation plans
      and other programs and arrangements as may be approved from time to time by
      the
      Company and the Association for the benefit of their employees.

    

    7.     Vacation
      and Leave.

    

    
      	 	
              a.

            	
              The
                Executive shall be entitled to vacation and other leave in accordance
                with
                policy for senior executives, or otherwise as approved by the
                Board.

            

    

    

    
      	 	
              b.

            	
              In
                addition to paid vacation and other leave, the Executive shall be
                entitled, without loss of pay, to absent himself voluntarily from
                the
                performance of his employment for such additional periods of time
                and for
                such valid and legitimate reasons as the Board may in its discretion
                determine. Further, the Board may grant to the Executive a leave
                or leaves
                of absence, with or without pay, at such time or times and upon such
                terms
                and conditions as the Board in its discretion may
                determine.

            

    

    

    8.     Expense
      Payments and Reimbursements.
      The
      Executive shall be reimbursed for all reasonable out-of-pocket business expenses
      that he shall incur in connection with his

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    services
      under this Agreement upon substantiation of such expenses in accordance with
      applicable policies of the Company.

     

    9.     Automobile
      Allowance.
      During
      the term of this Agreement, the Executive shall be entitled to an automobile
      allowance on terms no less favorable that those in effect immediately prior
      to
      the execution of this Agreement. Executive shall comply with reasonable
      reporting and expense limitations on the use of such automobile as may be
      established by the Company or the Association from time to time, and the Company
      or the Association shall annually include on Executive’s Form W-2 any amount of
      income attributable to Executive’s personal use of such automobile.

    

    10.   Loyalty
      and Confidentiality.

    

    
      	 	
              a.

            	
              During
                the term of this Agreement Executive: (i) shall devote all his time,
                attention, skill, and efforts to the faithful performance of his
                duties
                hereunder; provided, however, that from time to time, Executive may
                serve
                on the boards of directors of, and hold any other offices or positions
                in,
                companies or organizations which will not present any conflict of
                interest
                with the Company or any of their subsidiaries or affiliates, unfavorably
                affect the performance of Executive’s duties pursuant to this Agreement,
                or violate any applicable statute or regulation and (ii) shall not
                engage in any business or activity contrary to the business affairs
                or
                interests of the Company.

            

    

    

    
      	 	
              b.

            	
              Nothing
                contained in this Agreement shall prevent or limit Executive’s right to
                invest in the capital stock or other securities of any business dissimilar
                from that of the Company, or, solely as a passive, minority investor,
                in
                any business.

            

    

    

    
      	 	
              c.
                

            	
              Executive
                agrees to maintain the confidentiality of any and all information
                concerning the operation or financial status of the Company and the
                Association, the names or addresses of any of its borrowers, depositors
                and other customers; any information concerning or obtained from
                such
                customers; and any other information concerning the Company and the
                Association to which he may be exposed during the course of his
                employment. The Executive further agrees that, unless required by
                law or
                specifically permitted by the Board in writing, he will not disclose
                to
                any person or entity, either during or subsequent to his employment,
                any
                of the above-mentioned information which is not generally known to
                the
                public, nor shall he employ such information in any way other than
                for the
                benefit of the Company and the
                Association.

            

    

    

    11.  
Termination
      and Termination Pay.
      Subject
      to Section 12 of this Agreement, Executive’s employment under this Agreement may
      be terminated in the following circumstances:

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    
      	                
              	a.            
              	
              Death.
                Executive’s employment under this Agreement shall terminate upon his death
                during the term of this Agreement, in which event Executive’s estate shall
                be entitled to receive the compensation due to the Executive through
                the
                last day of the calendar month in which his death
                occurred.

            

    

    

    
      	 	
              b.

            	
              Retirement.
                This Agreement shall be terminated upon Executive’s retirement under the
                retirement benefit plan or plans in which he participates pursuant
                to
                Section 6 of this Agreement or
                otherwise.

            

    

    

    
      	 	
              c.

            	
              Disability.

            

    

     

    
      	 	 	
              i.

            	
              The
                Board or Executive may terminate Executive’s employment after having
                determined Executive has a Disability. For purposes of this Agreement,
                “Disability” means a physical or mental infirmity that impairs Executive’s
                ability to substantially perform his duties under this Agreement
                and that
                results in Executive becoming eligible for long-term disability benefits
                under any long-term disability plans of the Company and the Association
                (or, if there are no such plans in effect, that impairs Executive’s
                ability to substantially perform his duties under this Agreement
                for a
                period of one hundred eighty (180) consecutive days). The Board shall
                determine whether or not Executive is and continues to be permanently
                disabled for purposes of this Agreement in good faith, based upon
                competent medical advice and other factors that they reasonably believe
                to
                be relevant. As a condition to any benefits, the Board may require
                Executive to submit to such physical or mental evaluations and tests
                as it
                deems reasonably appropriate.

            

    

    

    
      	 	
              ii.

            	
              In
                the event of such Disability, Executive’s obligation to perform services
                under this Agreement will terminate. The Association or the Company
                will
                pay Executive, as Disability pay, an amount equal to 100% of Executive’s
                bi-weekly rate of base salary in effect as of the date of his termination
                of employment due to Disability. Disability payments will be made
                on a
                monthly basis and will commence on the first day of the month following
                the effective date of Executive’s termination of employment for Disability
                and end on the earlier of: (A) the date he returns to full-time employment
                at the Company in the same capacity as he was employed prior to his
                termination for Disability; (B) his death; or (C) upon attainment
                of age
                65. Such payments shall be reduced by the amount of any short- or
                long-term disability benefits payable to the Executive under any
                other
                disability programs sponsored by the Association or the Company.
                In
                addition, during any period of Executive’s Disability, Executive and his
                dependents shall, to the greatest extent possible, continue to be
                covered
                under all benefit plans (including, without limitation, retirement
                plans
                and medical, dental and life insurance
                plans)

            

    

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    of
      the
      Association and the Company, in which Executive participated prior to his
      Disability on the same terms as if Executive were actively employed by the
      Company.

    

    
      	 	
              d.

            	
              Termination
                for Cause.

            

    

    

    
      	 	
              i.

            	
              The
                Board may, by written notice to the Executive in the form and manner
                specified in this paragraph, terminate his employment at any time,
                for
                “Cause”. The Executive shall have no right to receive compensation or
                other benefits for any period after termination for Cause. Termination
                for
                “Cause” shall mean termination because of, in the good faith determination
                of the Board, Executive’s: 

            

    

    

    
      	 	
              (1)

            	
              Personal
                dishonesty;

            

    

    

    
      	 	
              (2)

            	
              Incompetence;

            

    

    

    
      	 	 	 	
              (3)

            	
              Willful
                misconduct;

            

    

    

    
      	 	 	 	
              (4)

            	
              Breach
                of fiduciary duty involving personal
                profit;

            

    

    

    
      	 	 	 	
              (5)

            	
              Intentional
                failure to perform stated duties;

            

    

    

    
      	 	 	 	
              (6)

            	
              Willful
                violation of any law, rule or regulation (other than traffic violations
                or
                similar offenses) that reflects adversely on the reputation of the
                Company
                and the Association, any felony conviction, any violation of law
                involving
                moral turpitude or any violation of a final cease-and-desist order;
                or

            

    

    

    
      	 	 	 	
              (7)

            	
              Material
                breach by Executive of any provision of this
                Agreement.

            

    

    

    
      	 	 	
              ii.

            	
              Notwithstanding
                the foregoing, Executive shall not be deemed to have been terminated
                for
                Cause by the Association unless there shall have been delivered to
                Executive a copy of a resolution duly adopted at a meeting of such
                Board
                where in the good faith opinion of the Board, Executive was guilty
                of the
                conduct described above and specifying the particulars
                thereof.

            

    

    

    
      	 	
              e.

            	
              Voluntary
                Termination by Executive.
                In addition to his other rights to terminate under this Agreement,
                Executive may voluntarily terminate employment during the term of
                this
                Agreement upon at least sixty (60) days prior written notice to the
                Boards, in which case Executive shall receive only his compensation,
                vested rights and employee benefits up to the date of his
                termination.

            

    

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    
      	                
              	f.             
              	
              Without
                Cause or With Good Reason.

            

    

    

    
      	 	
              i.

            	
              In
                addition to termination pursuant to Sections 11(a) through 11(e)
                the
                Boards, may, by written notice to Executive, immediately terminate
                his
                employment at any time for a reason other than Cause (a termination
                “Without Cause”) and Executive may, by written notice to the Board,
                immediately terminate this Agreement at any time within ninety (90)
                days
                following an event constituting “Good Reason” as defined below (a
                termination “With Good Reason”).

            

    

    

    
      	 	
              ii.

            	
              Subject
                to Section 12 of this Agreement, in the event of termination under
                this
                Section 11(f), Executive shall be entitled to receive his base salary
                for
                the remaining term of the Agreement paid in one lump sum within ten
                (10)
                calendar days of such termination. Also, in such event, Executive
                shall,
                for the remaining term of the Agreement, receive the benefits he
                would
                have received during the remaining term of the Agreement under any
                retirement programs (whether tax-qualified or non-qualified) in which
                Executive participated prior to his termination (with the amount
                of the
                benefits determined by reference to the benefits received by the
                Executive
                or accrued on his behalf under such programs during the twelve (12)
                months
                preceding his termination) and continue to participate in any benefit
                plans of the Association or the Company that provide health (including
                medical and dental), or life insurance, or similar coverage upon
                terms no
                less favorable than the most favorable terms provided to senior executives
                of the Company during such period. In the event that the Company
                or the
                Association are unable to provide such coverage by reason of Executive
                no
                longer being an employee, the Company shall provide Executive with
                comparable coverage on an individual policy
                basis.

            

    

    

    
      	 	
              iii.

            	
              “Good
                Reason” shall exist if, without Executive’s express written consent, the
                Association materially breach any of their respective obligations
                under
                this Agreement. Without limitation, such a material breach shall
                be deemed
                to occur upon any of the following:

            

    

    

    
      	 	 	 	
              (1)

            	
              A
                material reduction in Executive’s responsibilities or authority in
                connection with his employment with the
                Association;

            

    

    

    
      	 	
              (2)

            	
              Assignment
                to Executive of duties of a non-executive nature or duties for which
                he is
                not reasonably equipped by his skills and
                experience;

            

    

    

    
      	 	
              (3)

            	
              Failure
                of the Executive to be nominated or re-nominated to the
                Board

            

    

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    

    
      	 	 	 	
              (4)

            	
              A
                reduction in salary or benefits contrary to the terms of this Agreement,
                or, following a Change in Control as defined in Section 12 of this
                Agreement, any reduction in salary or material reduction in benefits
                below
                the amounts to which he was entitled prior to the Change in
                Control;

            

    

    

    
      	 	 	 	
              (5)

            	
              Termination
                of incentive and benefit plans, programs or arrangements, or reduction
                of
                Executive’s participation to such an extent as to materially reduce their
                aggregate value below their aggregate value as of the Effective Date;
                

            

    

    

    
      	 	 	 	
              (6)

            	
              A
                requirement that Executive relocate his principal business office
                or his
                principal place of residence outside of the area consisting of a
                twenty-five (25) mile radius from the current main office and any
                branch
                of the Association, or the assignment to Executive of duties that
                would
                reasonably require such a relocation;
                or

            

    

    

    
      	                                                
              	(7)           
              	
              liquidation
                or dissolution of the Company or the
                Association.

            

    

    

    
      	 	 	
              iv.

            	
              Notwithstanding
                the foregoing, a reduction or elimination of the Executive’s benefits
                under one or more benefit plans maintained by the Company or the
                Association as part of a good faith, overall reduction or elimination
                of
                such plans or plans or benefits thereunder applicably to all participants
                in a manner that does not discriminate against Executive (except
                as such
                discrimination may be necessary to comply with law) shall not constitute
                an event of Good Reason or a material breach of this Agreement, provided
                that benefits of the type or to the general extent as those offered
                under
                such plans prior to such reduction or elimination are not available
                to
                other officers of the Association or any company that controls the
                Association under a plan or plans in or under which Executive is
                not
                entitled to participate.

            

    

     

    
      	 	
              g.

            	
              Continuing
                Covenant Not to Compete or Interfere with Relationships.
                Regardless of anything herein to the contrary, following a termination
                by
                the Association or Executive pursuant to Section
                11(f):

            

    

    

    
      	 	
              i.

            	
              Executive’s
                obligations under Section 10(c) of this Agreement will continue in
                effect;
                and

            

    

    

    
      	 	 	
              ii.

            	
              During
                the period ending on the first anniversary of such termination, the
                Executive shall not serve as an officer, director or employee of
                any bank
                holding company, bank, savings bank, savings and loan holding company,
                or
                mortgage company (any of which, a “Financial Institution”)
                which

            

    

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

    Financial
      Institution offers products or services competing with those offered by the
      Association from any office within fifty (50) miles from the main office or
      any
      branch of the Association and shall not interfere with the relationship of
      the
      Company and the Association and any of its employees, agents, or
      representatives. 

    

    12.   Termination
      in Connection with a Change in Control.
      

    

    
      	 	
              a.

            	
              For
                purposes of this Agreement, a Change in Control means any of the
                following
                events:

            

    

    

    
      	 	
              (i)

            	
              Merger:
                The Company merges into or consolidates with another corporation,
                or
                merges another corporation into the Company, and as a result less
                than a
                majority of the combined voting power of the resulting corporation
                immediately after the merger or consolidation is held by persons
                who were
                stockholders of the Company immediately before the merger or
                consolidation.

            

    

    

    
      	                                
              	(ii)           
              	
              Acquisition
                of Significant Share Ownership:
                There is filed or required to be filed a report on Schedule 13D or
                another
                form or schedule (other than Schedule 13G) required under Sections
                13(d)
                or 14(d) of the Securities Exchange Act of 1934, if the schedule
                discloses
                that the filing person or persons acting in concert has or have become
                the
                beneficial owner of 25% or more of a class of the Company’s voting
                securities, but this clause (b) shall not apply to beneficial ownership
                of
                Company voting shares held in a fiduciary capacity by an entity of
                which
                the Company directly or indirectly beneficially owns 50% or more
                of its
                outstanding voting securities.

            

    

    

    
      	                                
              	(iii)          
              	
              Change
                in Board Composition:
                During any period of two consecutive years, individuals who constitute
                the
                Company’s Board of Directors at the beginning of the two-year period cease
                for any reason to constitute at least a majority of the Company’s Board of
                Directors; provided, however, that for purposes of this clause (iii),
                each
                director who is first elected by the board (or first nominated by
                the
                board for election by the stockholders) by a vote of at least two-thirds
                (2/3) of the directors who were directors at the beginning of the
                two-year
                period shall be deemed to have also been a director at the beginning
                of
                such period; or

            

    

    

    
      	                                
              	(iv)          	
              Sale
                of Assets:
                The Company sells to a third party all or substantially all of its
                assets.
                

            

    

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

    Notwithstanding
      anything in this Agreement to the contrary, in no event shall reorganization
      of
      the Association from the mutual holding company form or organization to the
      full
      stock holding company form of organization (including the elimination of the
      mutual holding company) constitute a “Change in Control” for purposes of this
      Agreement.

    

    
      	 	
              b.

            	
              Termination.
                If within the period ending two (2) years after a Change in Control,
                (i)
                the Company and the Association shall terminate the Executive’s employment
                Without Cause, or (ii) Executive voluntarily terminates his employment
                With Good Reason, the Company and the Association shall, within ten
                calendar days of the termination of Executive’s employment, make a
                lump-sum cash payment to him equal to three (3) times the Executive’s
                average Annual Compensation over the five (5) most recently completed
                calendar years ending with the year immediately preceding the effective
                date of the Change in Control. In determining Executive’s average Annual
                Compensation, Annual Compensation shall include base salary and any
                other
                taxable income, including but not limited to amounts related to the
                granting, vesting or exercise of restricted stock or stock option
                awards,
                commissions, bonuses (whether paid or accrued for the applicable
                period),
                as well as, retirement benefits, director or committee fees and fringe
                benefits paid or to be paid to Executive or paid for Executive’s benefit
                during any such year, profit sharing, employee stock ownership plan
                and
                other retirement contributions or benefits, including to any tax-qualified
                plan or arrangement (whether or not taxable) made or accrued on behalf
                of
                Executive of such year. The cash payment made under this Section
                12(a)
                shall be made in lieu of any payment also required under Section
                11(f) of
                this Agreement because of a termination in such period. Executive’s rights
                under Section 11(f) are not otherwise affected by this Section 12.
                Also,
                in such event, the Executive shall, for a thirty-six (36) month period
                following his termination of employment, receive the benefits he
                would
                have received over such period under any retirement programs (whether
                tax-qualified or nonqualified) in which the Executive participated
                prior
                to his termination (with the amount of the benefits determined by
                reference to the benefits received by the Executive or accrued on
                his
                behalf under such programs during the twelve (12) months preceding
                the
                Change in Control) and continue to participate in any benefit plans
                of the
                Company and the Association that provide health (including medical
                and
                dental), or life insurance, or similar coverage upon terms no less
                favorable than the most favorable terms provided to senior executives
                of
                the Association during such period. In the event that the Company
                and the
                Association are unable to provide such coverage by reason of the
                Executive
                no longer being an employee, the Company and the Association shall
                provide
                the Executive with comparable coverage on an individual
                policy.

            

    

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

    
      	                
              	c.                 
              	
              The
                provisions of Section 12 and Sections 14 through 25, including the
                defined
                terms used is such sections, shall continue in effect until the later
                of
                the expiration of this Agreement or two (2) years following a Change
                in
                Control.

            

    

     

    13. 
Indemnification
      and Liability Insurance.
      Subject
      to, and limited by Section 26(f) of this Agreement, the Association shall
      provide the following:

    

    
      	 	
              a.

            	
              Indemnification.
                The Company and the Association agree to indemnify the Executive
                (and his
                heirs, executors, and administrators), and to advance expenses related
                thereto, to the fullest extent permitted under applicable law and
                regulations against any and all expenses and liabilities reasonably
                incurred by him in connection with or arising out of any action,
                suit, or
                proceeding in which he may be involved by reason of his having been
                a
                director or Executive of the Company, the Association or any of their
                subsidiaries (whether or not he continues to be a director or Executive
                at
                the time of incurring any such expenses or liabilities) such expenses
                and
                liabilities to include, but not be limited to, judgments, court costs,
                and
                attorney’s fees and the cost of reasonable settlements, such settlements
                to be approved by the Board, if such action is brought against the
                Executive in his capacity as an Executive or director of the Company
                and
                the Association or any of their subsidiaries. Indemnification for
                expense
                shall not extend to matters for which the Executive has been terminated
                for Cause. Nothing contained herein shall be deemed to provide
                indemnification prohibited by applicable law or regulation.
                Notwithstanding anything herein to the contrary, the obligations
                of this
                Section 13 shall survive the term of this Agreement by a period of
                six (6)
                years.

            

    

    

    
      	 	
              b.

            	
              Insurance.
                During the period in which indemnification of the Executive is required
                under this Section, the Company and the Association shall provide
                the
                Executive (and his heirs, executors, and administrators) with coverage
                under a directors’ and Executives’ liability policy at the expense of the
                Company and the Association, at least equivalent to such coverage
                provided
                to directors and senior Executives of the Company and the
                Association.

            

    

     

    14.     Reimbursement
      of Executive’s Expenses to Enforce this Agreement.
      The
      Association shall reimburse the Executive for all reasonable out-of-pocket
      expenses, including, without limitation, reasonable attorney’s fees, incurred by
      the Executive in connection with successful enforcement by the Executive of
      the
      obligations of the Association to the Executive under this Agreement. Successful
      enforcement shall mean the grant of an award of money or the requirement that
      the Association take some action specified by this Agreement: (i) as a result
      of
      court order; or (ii) otherwise by the Association following an initial
      failure of the Association to pay such money or take such action promptly after
      written demand therefor from the Executive stating the reason that such money
      or
      action was due under this Agreement at or prior to the time of such
      demand.

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

    

    15.         
      Adjustment
      of Certain Payments and Benefits.

    

    
      	 	
              a.

            	
              Tax
                Indemnification.
                Anything in this Agreement to the contrary notwithstanding and except
                as
                set forth below, in the event it shall be determined that any payment,
                benefit or distribution made or provided by the Company or the Association
                to or for the benefit of the Executive (whether made or provided
                pursuant
                to the terms of this Agreement or otherwise) (each referred to herein
                as a
                “Payment”), would be subject to the excise tax imposed by Section 4999 of
                the Internal Revenue Code of 1986, as amended (the “Code”) or any interest
                or penalties are incurred by the Executive with respect to such excise
                tax
                (the excise tax, together with any such interest and penalties, are
                hereinafter collectively referred to as the “Excise Tax”), the Executive
                shall be entitled to receive an additional payment (a “Gross-Up Payment”)
                in an amount such that, after payment by the Executive of all taxes
                (including any interest or penalties imposed with respect to such
                taxes),
                including, without limitation, any income taxes (and any interest
                and
                penalties imposed with respect thereto) and Excise Tax imposed upon
                the
                Gross-Up Payment, the Executive retains an amount of the Gross-Up
                Payment
                equal to the Excise Tax imposed upon the
                Payments.

            

    

    

    
      	 	
              b.

            	
              Determination
                of Gross-Up Payment.
                Subject to the provisions of Section 15(c), all determinations required
                to
                be made under this Section 15, including whether and when a Gross-Up
                Payment is required, the amount of such Gross-Up Payment and the
                assumptions to be utilized in arriving at such determination, shall
                be
                made by a certified public accounting firm reasonably acceptable
                to the
                Company and the Association as may be designated by the Executive
                (the
                “Accounting Firm”) which shall provide detailed supporting calculations to
                the Company, the Association and the Executive within fifteen (15)
                business days of the receipt of notice from the Executive that there
                has
                been a Payment, or such earlier time as is requested by the Company
                and
                the Association. All fees and expenses of the Accounting Firm shall
                be
                borne solely by the Company and the Association. Any Gross-Up Payment,
                as
                determined pursuant to this Section 15, shall be paid by the Company
                to
                the Executive within five business days of the later of (i) the due
                date
                for the payment of any Excise Tax, and (ii) the receipt of the Accounting
                Firm’s determination. Any determination by the Accounting Firm shall be
                binding upon the Company and the Executive. As a result of the uncertainty
                in the application of Section 4999 of the Code, at the time of the
                initial
                determination by the Accounting Firm hereunder, it is possible that
                a
                Gross-Up Payment will not have been made by the Company and the
                Association which should have been made (an “Underpayment”), consistent
                with the calculations required to be made hereunder. In the event
                that the
                Company and the Association exhaust their remedies pursuant to Section
                15(c) and the Executive thereafter is required to make a payment
                of any
                Excise Tax, the Accounting Firm shall determine
                the

            

    

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

    amount
      of
      the Underpayment that has occurred and any such Underpayment shall be promptly
      paid by the Company or the Association to or for the benefit of the
      Executive.

    

    
      	 	
              c.

            	
              Treatment
                of Claims.
                The Executive shall notify the Company and the Association in writing
                of
                any claim by the Internal Revenue Service that, if successful, would
                require a Gross-Up Payment to be made. Such notification shall be
                given as
                soon as practicable, but no later than ten business days, after the
                Executive is informed in writing of such claim and shall apprise
                the
                Company and the Association of the nature of such claim and the date
                on
                which such claim is requested to be paid. The Executive shall not
                pay such
                claim prior to the expiration of the thirty (30) day period following
                the
                date on which it gives such notice to the Company and the Association
                (or
                any shorter period ending on the date that payment of taxes with
                respect
                to such claim is due). If the Company or the Association notifies
                the
                Executive in writing prior to the expiration of this period that
                it
                desires to contest such claim, the Executive
                shall:

            

    

    

    
      	 	
              i.

            	
              give
                the Company and the Association any information reasonably requested
                by
                the Company and the Association relating to such
                claim;

            

    

    

    
      	 	
              ii.

            	
              take
                such action in connection with contesting such claim as the Company
                and
                the Association shall reasonably request in writing from time to
                time,
                including, without limitation, accepting legal representation with
                respect
                to such claim by an attorney reasonably selected by the Company and
                the
                Association;

            

    

    

    
      	 	
              iii.

            	
              cooperate
                with the Company and the Association in good faith in order to effectively
                contest such claim; and

            

    

    

    
      	 	
              iv.

            	
              permit
                the Company and the Association to participate in any proceedings
                relating
                to such claim; provided, however, that the Company and the Association
                shall bear and pay directly all costs and expenses (including additional
                interest and penalties) incurred in connection with such contest
                and
                indemnity and hold the Executive harmless, on an after-tax basis,
                for any
                Excise Tax or related taxes, interest or penalties imposed as a result
                of
                such representation and payment of costs and expenses. Without limitation
                on the foregoing provisions of this Section 15(c), the Company and
                the
                Association shall control all proceedings taken in connection with
                such
                contest and, at their option, may pursue or forgo any and all
                administrative appeals, proceedings, hearings and conferences with
                the
                taxing authority with respect to such claim and may, at their option,
                either direct the Executive to pay the tax claimed and sue for a
                refund or
                contest the claim in any permissible manner. Further, the Executive
                agrees
                to prosecute such contest to a determination before any
                administrative

            

    

    
      
         

      

      
        12

        
          

        

      

      
         

      

    

                   
      tribunal, in a court of initial jurisdiction and in one or more appellate
      courts, as the Company and the Association shall determine; provided, however,
      that if the Company directs the Executive to pay such claim and sue for a
      refund, the Company and the Association shall advance the amount of such payment
      to the Executive, on an interest-free basis (including interest or penalties
      with respect thereto). Furthermore, the Company’s and the Association’s control
      of the contest shall be limited to issues with respect to which a Gross-Up
      Payment would be payable hereunder and the Executive shall be entitled to settle
      or contest, as the case may be, any other issues raised by the Internal Revenue
      Service or any other taxing authority.

    

    
      	 	
              d.

            	
              Adjustments
                to the Gross-Up Payment.
                If, after the receipt by the Executive of an amount advanced by the
                Company pursuant to Section 15(c), the Executive becomes entitled
                to
                receive any refund with respect to such claim, the Executive shall
                (subject to the Company’s compliance with the requirements of Section
                15(c)) promptly pay to the Company the amount of such refund (together
                with any interest paid or credited thereon after applicable taxes).
                If,
                after the receipt by the Executive of an amount advanced by the Company
                pursuant to Section 15(c), a determination is made that the Executive
                shall not be entitled to any refund with respect to such claim and
                such
                denial of refund occurs prior to the expiration of thirty (30) days
                after
                such determination, then such advance shall be forgiven and shall
                not be
                required to be repaid and the amount of such advance shall offset,
                to the
                extent thereof, the amount of the Gross-Up Payment required to be
                paid.

            

    

     

    

    16.         
      Injunctive
      Relief.
      If
      there
      is a breach or threatened breach of Section 11(g) of this Agreement or the
      prohibitions upon disclosure contained in Section 10(c) of this Agreement,
      the
      parties agree that there is no adequate remedy at law for such breach, and
      that
      the Association shall be entitled to injunctive relief restraining the Executive
      from such breach or threatened breach, but such relief shall not be the
      exclusive remedy hereunder for such breach. The parties hereto likewise agree
      that the Executive, without limitation, shall be entitled to injunctive relief
      to enforce the obligations of the Association under this Agreement.

    

    17.         
      Successors
      and Assigns.

    

    
      	                
              	a.            	
              This
                Agreement shall inure to the benefit of and be binding upon any corporate
                or other successor of the Association which shall acquire, directly
                or
                indirectly, by merger, consolidation, purchase or otherwise, all
                or
                substantially all of the assets or stock of the Company and the
                Association.

            

    

    
      
         

      

      
        13

        
          

        

      

      
         

      

    

    
      	                     
              	b.              
                	
              Since
                the Association is contracting for the unique and personal skills
                of
                Executive, Executive shall be precluded from assigning or delegating
                his
                rights or duties hereunder without first obtaining the written consent
                of
                the Association.

            

    

    

    18.     No
      Mitigation.
      Executive
      shall not be required to mitigate the amount of any payment provided for in
      this
      Agreement by seeking other employment or otherwise and no such payment shall
      be
      offset or reduced by the amount of any compensation or benefits provided to
      Executive in any subsequent employment.

    

    19.     Notices.
      All
      notices, requests, demands and other communications in connection with this
      Agreement shall be made in writing and shall be deemed to have been given when
      delivered by hand or 48 hours after mailing at any general or branch United
      States Post Office, by registered or certified mail, postage prepaid, addressed
      to the Association at their principal business offices and to Executive at
      his
      home address as maintained in the records of the Association.

     

    20.     No
      Plan Created by this Agreement.
      Executive
      and the Association expressly declare and agree that this Agreement was
      negotiated among them and that no provision or provisions of this Agreement
      are
      intended to, or shall be deemed to, create any plan for purposes of the Employee
      Retirement Income Security Act or any other law or regulation, and each party
      expressly waives any right to assert the contrary. Any assertion in any judicial
      or administrative filing, hearing, or process that such a plan was so created
      by
      this Agreement shall be deemed a material breach of this Agreement by the party
      making such an assertion.

    

    21.     Amendments.
      No
      amendments or additions to this Agreement shall be binding unless made in
      writing and signed by all of the parties, except as herein otherwise
      specifically provided.

    

    22.     Applicable
      Law.
      Except
      to the extent preempted by Federal law, the laws of the State of Connecticut
      shall govern this Agreement in all respects, whether as to its validity,
      construction, capacity, performance or otherwise.

    

    23.     Severability.
      The
      provisions of this Agreement shall be deemed severable and the invalidity or
      unenforceability of any provision shall not affect the validity or
      enforceability of the other provisions hereof.

    

    24.     Headings.
      Headings
      contained herein are for convenience of reference only.

    

    25.     Entire
      Agreement.
      This
      Agreement, together with any understanding or modifications thereof as agreed
      to
      in writing by the parties, shall constitute the entire agreement among the
      parties hereto with respect to the subject matter hereof, other than written
      agreements with respect to specific plans, programs or arrangements described
      in
      Sections 5 and 6. Upon

    
      
         

      

      
        14

        
          

        

      

      
         

      

    

    execution
      of this Agreement, the employment agreement entered into between the parties
      on
      June 4, 2002, will become null and void.

    

    26.     Required
      Provisions.
      In the
      event any of the foregoing provisions of this Section 26 are in conflict with
      the terms of this Agreement, this Section 26 shall prevail.

     

    
      	                                  
                 	a.               
              	
              The
                Association’s board of directors may terminate Executive’s employment at
                any time, but any termination by the Association, other than Termination
                for Cause, shall not prejudice Executive’s right to compensation or other
                benefits under this Agreement. Executive shall not have the right
                to
                receive compensation or other benefits for any period after Termination
                for Cause as defined in Section 11(d)
                hereinabove.

            

    

    

    
      	                                  
                  	b.              
              	
              If
                Executive is suspended from office and/or temporarily prohibited
                from
                participating in the conduct of the Association’s affairs by a notice
                served under Section 8(e)(3) or 8(g)(1) of the Federal Deposit Insurance
                Act, 12 U.S.C. §1818(e)(3) or (g)(1); the Association’s obligations under
                this contract shall be suspended as of the date of service, unless
                stayed
                by appropriate proceedings. If the charges in the notice are dismissed,
                the Association may in its discretion: (i) pay Executive all or part
                of
                the compensation withheld while their contract obligations were suspended;
                and (ii) reinstate (in whole or in part) any of the obligations which
                were
                suspended.

            

    

    

    
      	                                  
                 	c.              
              	
              If
                Executive is removed and/or permanently prohibited from participating
                in
                the conduct of the Association’s affairs by an order issued under Section
                8(e)(4) or 8(g)(1) of the Federal Deposit Insurance Act, 12 U.S.C.
                §1818(e)(4) or (g)(1), all obligations of the Association under this
                contract shall terminate as of the effective date of the order, but
                vested
                rights of the contracting parties shall not be
                affected.

            

    

    

    
      	                                  
                  	d.             
              	
              If
                the Association is in default as defined in Section 3(x)(1) of the
                Federal
                Deposit Insurance Act, 12 U.S.C. §1813(x)(1) all obligations of the
                Association under this contract shall terminate as of the date of
                default,
                but this paragraph shall not affect any vested rights of the contracting
                parties.

            

    

    

    
      	                                  
                    	e.             	
              All
                obligations under this contract shall be terminated, except to the
                extent
                determined that continuation of the contract is necessary for the
                continued operation of the Association: (i) by the Director of the
                OTS (or
                his designee), at the time the FDIC enters into an agreement to provide
                assistance to or on behalf of the Association under the authority
                contained in Section 13(c) of the Federal Deposit Insurance Act,
                12 U.S.C.
                §1823(c); or (ii) by the Director of the OTS (or his designee) at
                the time
                the Director

            

    

    
      
         

      

      
        15

        
          

        

      

      
         

      

    

    (or
      his
      designee) approves a supervisory merger to resolve problems related to the
      operations of the Association or when the Association is determined by the
      Director to be in an unsafe or unsound condition. Any rights of the parties
      that
      have already vested, however, shall not be affected by such action.

    

    
      	                
                                               
                 	f.                
                   	
              Any
                payments made to employees pursuant to this Agreement, or otherwise,
                are
                subject to and conditioned upon their compliance with 12 U.S.C. §1828(k)
                and FDIC regulation 12 C.F.R. Part 359, Golden Parachute and
                Indemnification Payments. 

            

    

    

    
      	 	                                
                        	
              g.               
                

            	
              Notwithstanding
                anything in this Agreement to the contrary, if the Company or the
                Association in good faith determines that amounts that, as of the
                effective date of the Executive’s termination of employment are or may
                become payable to the Executive upon termination of his employment
                hereunder are required to be suspended or delayed for six (6) months
                in
                order to satisfy the requirements of Section 409A of the Internal
                Revenue
                Code, then the Company or the Association will so advise the Executive,
                and any such payments shall be suspended and accrued for six months,
                whereupon they shall be paid to the Executive in a lump sum (together
                with
                interest thereon at the then-prevailing prime
                rate).

            

    

    

    

    IN
      WITNESS WHEREOF,
      the
      parties hereto have executed this Agreement on the date first set forth
      above.

    

    

    
      	
              Attest:

            	 	
              NEW
                ENGLAND BANCSHARES, INC.

            
	 	 	 
	 	 	 	 
	
              /s/
                Nancy Grady

            	 	
              By:

            	
              /s/
                Peter Dow

            
	 	 	 	
              Chairman
                of the Board of Directors

            
	 	 	 	 
	
              Witness:

            	 	
              EXECUTIVE

            
	 	 	 	 
	 	 	 	 
	
              /s/
                Scott Nogles

            	 	
              /s/
                David J. O’Connor

            
	 	 	
              David
                J. O’Connor

            
	 	 	 	 

    

    
16

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00097-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00097-of-00352.parquet"}]]