Document:

EXHIBIT 10.1(A)

 Exhibit 10.1(a) 
 Amendment to Executive Employment Agreement 
 THIS AMENDMENT is made this 27th day of December, 2005 between
PEOPLE’S BANK (“Company”), a Connecticut capital stock saving bank, and JOHN A. KLEIN (“Executive”) of Easton, Connecticut. 
 Background. Executive is currently serving as President and CEO of Company in accordance with the terms of an agreement between them effective as of June 1, 1999 and entitled Executive Employment Agreement
(the “Agreement”). The Agreement provides Executive with certain payments in the event of the termination of his employment with Company. The amounts of some such payments are determined by applying the terms of certain employee benefit
plans adopted by Company (defined in the Agreement as the “Retirement Plan” and two plans collectively referred to as the “SERPs”) to hypothetical service by the Executive after the date of such termination, and to offset the
effect of actuarial reductions which would apply to Executive’s benefits in the event of termination of his employment prior to his Normal Retirement Date as defined by the Retirement Plan. In addition, after termination of employment with
Company, under most circumstances, Executive would become entitled certain payments in the event that one or more of the Retirement Plan, the SERPs, or plans described in the Agreement as the “401(k) Plan” and the “Supplemental
Savings Plan” were terminated or amended in a way which would reduce benefits payable to Executive under any such plan or the Agreement. 
 In October, 2004 Section 409A (“Section 409A”) was added to the Internal Revenue Code of 1984 (the “Code”). Section 409A in part imposes additional taxes with respect to benefits payable under certain plans of
deferred compensation and subjects benefits thereunder to income taxation prior to the time that would otherwise apply unless such plan satisfied applicable provisions of Section 409A. Several of the above described payments provided for under
the Agreement in the event of termination of Executive’s employment with Company may be subject to Section 409A. Section 17 of the Agreement provides in part that the Agreement “may not be altered or amended except by an
agreement in writing signed by or on behalf of Company and Executive”. Company and Executive agree that certain amendments should be made to the Agreement to avoid the possible imposition of penalties and/or acceleration of income taxation with
respect to any of the above described payments in view of the publication of guidance and proposed regulations thereunder by the U.S. Treasury interpreting and administering Section 409A. 
 The Agreement is hereby amended by adding thereto a new Section 18 which shall read as follows: 
 “Section 18. Certain Limitations. 
 1. In the event that any payments hereunder become payable to Executive or his beneficiary by reference to payments to be determined under the Retirement Plan or the SERPs or both, all determinations of payments in
any form of option other than the Single Life Form (as defined under the Retirement Plan) shall be determined in accordance with the provisions of the Retirement Plan as in effect on January 1, 2005. 

 2. All of the above described payments to be payable to Executive after termination of
his employment with Company pursuant to the terms of the Agreement and any other payments which constitute deferred compensation for purposes of Section 409A of the Internal Revenue Code of 1986 (the “Code) shall not commence until the
beginning of the 7th month following the month of Executive’s termination, but the first such payment shall
equal the payment due for such 7th month plus all prior payments which would have been payable but for this
provision of Section 18. 
 3. All payments provided for under the Agreement by reference to payments which otherwise
would have been provided under certain conditions under the Retirement Plan or the SERP shall be paid in accordance with elections made by Executive or his beneficiary under the Retirement Plan. 
 4. All payments and furnishing of benefits pursuant to this Agreement after termination of Executive’s employment with Company shall
comply with the terms of Section 409A of the Code (and U.S. Treasury Regulations and guidance in connection therewith) so as to prevent the imposition of any additional tax or acceleration of income taxes provided for pursuant to
Section 409A of the Code.” 
 IN WITNESS WHEREOF, the foregoing amendment is executed by Executive and Company as of the date first
above set forth. 
  

			
	 /s/ John A. Klein

	John A. Klein
	
	PEOPLE’S BANK
		
	By:	 	 /s/ Henry R. Mandel

		 	Henry R. Mandel
		 	Its Executive Vice President

  
  
  
  
  

 2EXHIBIT 10.4

 Exhibit 10.4 
 Summary of Compensation Arrangements 
 for 
 Named Executive Officers 
 Except for
Mr. Klein, no executive officer of People’s Bank (the “Bank”) has a written employment agreement with the Bank. This Exhibit summarizes the general terms of employment for each of the executive officers named in the Bank’s 2006
Proxy Statement (the “Named Executive Officers”), including Mr. Klein, during 2006. 
 Annual Base Salary: 
  

				
	 Name
	  	Salary
	 John A. Klein
	  	$	775,215
	 Robert R. D’Amore
	  	$	310,000
	 Brian F. Dreyer
	  	$	310,088
	 William T. Kosturko
	  	$	317,246
	 Philip R. Sherringham
	  	$	425,000

 The base salaries reflected in the above table became effective beginning with the two-week pay
period ended February 24, 2006. 
 Long-Term Cash-Based Performance Awards: 
  

							
	 	  	Target Award (as % of Base Salary) for Three-Year Period
	 Name
	  	2004-2006	 	2005-2007	 	2006-2008
	 John A. Klein
	  	70%	 	72%	 	72%
	 Robert R. D’Amore
	  	36	 	36	 	37
	 Brian F. Dreyer
	  	36	 	36	 	37
	 William T. Kosturko
	  	31	 	31	 	33
	 Philip R. Sherringham
	  	36	 	36	 	41

 These awards were made pursuant to the Amended and Restated 1998 People’s Bank Long-Term
Incentive Plan. Target awards are expressed as a percentage of base salary as in effect at the time the awards were granted. Actual payout amounts for these awards will be determined following completion of the applicable 3-year cycle, dependent on
Bank performance for each year during the cycle. 
 Short-Term Incentive Awards for 2006: 
  

			
	 Name
	  	 Target Award for 2006
 (as % of Base Salary)

	 John A. Klein
	  	75%
	 Robert R. D’Amore
	  	65
	 Brian F. Dreyer
	  	65
	 William T. Kosturko
	  	60
	 Philip R. Sherringham
	  	65

 Target awards are expressed as a percentage of base salary as shown in the first table of this
item. Actual payout amounts for these awards will be determined following 

 completion of the fiscal year ending December 31, 2006, dependent on (a) Bank performance for the year,
and (b) for all Named Executive Officers other than Mr. Klein, on the executive’s personal performance against his individual key performance measures. The actual payout amount for Mr. Klein will be determined solely on the basis of Bank
performance for the year. 
 Executive officers are eligible to participate in all benefit plans maintained for the benefit of the
Bank’s employees generally, such as the Bank’s health insurance program, the qualified pension plan, and the qualified employee savings (401(k)) plan. Executive officers may also be eligible to participate or receive benefits under a
variety of other written plans and arrangements, which are included as exhibits to regulatory filings under the Securities Exchange Act of 1934 (the “Exchange Act”) as required. The Bank pays the cost of providing certain additional
benefits to executive officers, including: a car allowance or a Bank-supplied car; group life insurance coverage; tax preparation services; financial planning services; enhanced long-term disability coverage; and, in the case of executives who were
participants in the Bank’s split-dollar life insurance program prior to July 2003, term life insurance coverage in an amount equal to the difference between the death benefit formerly provided to the executive under the split-dollar program
less the death benefit currently provided under the fully paid-up life insurance policy currently maintained for his or her benefit. 
 Mr.
Klein’s employment agreement provides him with certain benefits in addition to those described in this summary. A copy of his employment agreement is included as an exhibit to regulatory filings under the Exchange Act, as required.EXHIBIT 10.5(A)

 Exhibit 10.5(a) 
 Amendment to Agreement 
 for Compensation on Discharge Subsequent 
 to a Change in Control 
 Amendment, dated as
of December 22, 2005, to the Agreement for Compensation on Discharge Subsequent to a Change in Control (the “Agreement”), between People’s Bank (the “Bank”) and
             (the “Officer”). Capitalized terms that are not specifically defined herein shall have the meanings ascribed to those terms in the Agreement. 
 1. Section 2(a) of the Agreement is amended by deleting the phrase “through December 31, 2005” contained therein and inserting in
lieu thereof the phrase “through December 31, 2006.” 
 This Amendment is made supplemental to, and a part of, the Agreement
and, except as expressly amended or modified by this Amendment, the Agreement shall remain in full force and effect. All references to “this Agreement” in the Agreement shall be a reference to the Agreement as amended hereby. 

IN WITNESS WHEREOF, the parties have executed this Amendment effective as of the date written above. 
  

			
	  

	 [Officer]

	
	 PEOPLE’S BANK

		
	 By:
	 	  

		 	 [Officer]
 Executive Vice
PresidentEXHIBIT 10.6

 Exhibit 10.6 
 People’s Bank Short Term Incentive Plan for Key Employees 
 People’s Bank maintains a Short Term Incentive
Plan (the STIP) for certain key employees of the Bank. The STIP is administered under the authority of the Human Resources Committee (HRC) of the Bank’s Board of Directors. 
 Eligibility. All employees who are classified as Grade 45E or higher (generally, Senior Level Managers and above) and who are not participants in any other production or sales incentive plans are eligible to
participate. The Chief Executive Officer and all other executive officers of the Bank are participants in the STIP. 
 Target Awards. A target payout
amount is established for each STIP participant on an annual basis. The target amount is expressed as a percentage of the participant’s base salary for the applicable fiscal year. In general, target award percentages increase as seniority
levels increase within the Bank. 
 Key Performance Measures. Between five and seven key performance measures (KPMs) are set for each STIP participant
(other than the Chief Executive Officer) for the applicable fiscal year. Individual KPMs relate to the Bank’s strategic business objectives for that year. 
 Bank Performance Measure. The availability of funds for payment of STIP awards is dependent on the Bank’s attainment of a specified level of performance compared to an objective performance measure (e.g., earnings per share)
over the course of the Bank’s fiscal year. No funds are available for the payment of STIP awards if the Bank’s performance does not meet or exceed a specified minimum performance level. Conversely, the amount available for the payment of
STIP awards is capped once the Bank’s performance exceeds a specified level compared to the objective measure. The performance measure, minimum performance level, and cap level are determined by the HRC on an annual basis. 
 Payouts. STIP payouts are determined following the close of the applicable fiscal year. No payouts are made to any STIP participant unless (a) the Bank has
attained at least the minimum performance level specified for the applicable fiscal year, and (b) the Bank’s regulatory capital ratios meet or exceed their required levels. Assuming these conditions have been met, each participant’s
achievement of his or her KPMs is evaluated and the amount of his or her STIP award payment is calculated. The participant must demonstrate a specified minimum percentage achievement of his or her KPMs, with the amount of the payout dependent on the
degree of achievement attained. The STIP payout for the Chief Executive Officer is solely dependent on the level of Bank performance. Preliminary payout calculations for a participant may then be increased or decreased by as much as 30% (in 10%
increments) after evaluating the participant’s leadership behaviors. 

 Reserved Authority. The HRC and the full Board of Directors of the Bank reserve the authority to approve, modify,
or disallow any payment proposed to be made pursuant to the STIP.

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