Hampden Bancorp, Inc.
EX-10.5.1
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<TYPE>EX-10.5.1
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<DESCRIPTION>EX-10.5.1
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<p align="right" style="margin:0pt 0pt 12.0pt;text-align:right;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit
10.5.1</font></b></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">EMPLOYMENT
AGREEMENT</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">THIS AGREEMENT (the &#147;Agreement&#148;)
made this 16</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">th</font>&#160;day of January, 2007, by and between HAMPDEN
BANK, a Massachusetts-chartered savings bank, with its principal administrative
office at 19 Harrison Avenue, Springfield, MA 01102 (the &#147;Bank&#148;), HAMPDEN
BANCORP, INC., a corporation organized under the laws of the State of Delaware,
the holding company for the Bank (the &#147;Holding Company&#148;), and THOMAS R. BURTON
(the &#147;Executive&#148;).</p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, Executive serves in
a position of substantial responsibility; and</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, the Bank wishes to
assure Executive&#146;s services for the term of this Agreement; and</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, Executive is
willing to serve in the employ of the Bank during the term of this Agreement.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">NOW, THEREFORE, in
consideration of the mutual promises, terms, provisions, and conditions
contained in this Agreement, the parties hereby agree as follows:</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; EMPLOYMENT.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; POSITION. Executive is employed as the President and Chief
Executive Officer of the Bank. Executive will perform all duties and shall have
all powers commonly incident to the offices of President and CEO of the Bank or
which, consistent with those offices, are delegated to him by the Board of
Directors of the Bank (the &#147;Board&#148;). During the term of this Agreement,
Executive also agrees to serve, if elected, as an officer and/or director of
any subsidiary or affiliate of the Bank or the Holding Company and to carry out
the duties and responsibilities reasonably appropriate to those offices.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; TERM. The period of Executive&#146;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 (&#147;Initial
Term&#148;), or until the employment relationship is terminated pursuant to Sections
3 or 4 hereof. Upon the expiration of the Initial Term, this Agreement will be
renewed automatically for successive thirty-six-month periods (&#147;Renewal Terms&#148;),
unless 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. Executive&#146;s employment shall continue during such Renewal Terms
until the employment relationship is terminated pursuant to Sections 3 or 4
hereof.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; DEVOTION TO DUTIES AND LOYALTY. While Executive is
employed hereunder, he will: (i) use his best efforts, skill and abilities to
perform faithfully all duties assigned to him pursuant to this Agreement, (ii)
devote his full business time and energies to the business and the affairs of the
Bank; (iii) not render any similar services for his own account or any other
person or entity without the prior written consent of the Bank; and (iv) not
undertake any other full-time employment from any person or entity without
prior written consent of the Bank. However, from time to time, Executive may,
with the permission of the Board, serve on the boards of directors of, and hold
any other offices or positions in, companies or organizations that will not
present any conflict of interest with the Bank or any of its</font></p>


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<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">subsidiaries or affiliates,
unfavorably affect the performance of the Executive&#146;s duties pursuant to this
Agreement, or violate any applicable statute or regulation.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; COMPENSATION.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; BASE SALARY. The Bank agrees to pay Executive a base
salary at the annual rate of $250,000 per year (less applicable withholding
taxes), payable in accordance with the Bank&#146;s customary payroll practices.</font></p>

<p style="margin:0pt 0pt 12.0pt 72.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Board shall review
annually the rate of the Executive&#146;s base salary based upon factors they deem
relevant, and may maintain or increase his base salary, in its discretion. In
addition, the Board may decrease the base salary in the event that the Board
determines that financial exigencies require such decrease, provided that the
compensation of all executives of the Bank is also reduced at the same time in
a substantially commensurate manner.</font></p>

<p style="margin:0pt 0pt 12.0pt 72.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; In the absence of
action by the Board, the Executive shall continue to receive a base salary at
the annual rate specified on the Effective Date or, if another rate has been
established under the provisions of this Section 2, the rate last properly
established by action of the Board under the provisions of this Section 2.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; BONUSES. Executive shall be eligible to participate in
discretionary bonuses or other discretionary incentive compensation programs
that the Bank may award from time to time to Executives pursuant to bonus plans
or otherwise.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; STOCK-BASED COMPENSATION. The Executive will be eligible
to participate in the Bank&#146;s Employee Stock Ownership Plan and to be considered
by the Board for grants or awards of stock options or other stock-based
compensation under any stock-based incentive plans that the Bank elects to
implement. All such grants or awards shall be governed by the relevant plan
documents and requirements and shall be evidenced by the Bank&#146;s then-standard
form of stock option, restricted stock or other applicable agreement.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; BENEFIT PLANS. Executive shall be eligible to participate
in such life insurance, medical, dental, pension, profit sharing, and
retirement plans and other programs and arrangements as may be approved from
time to time by the Bank for the benefit of its employees.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; VACATIONS AND LEAVE. The Executive shall be entitled to
accrue and take five (5) weeks of vacation each year at such times as shall be
consistent with the Bank&#146;s vacation policies and, in the Bank&#146;s judgment, with
the Bank&#146;s vacation schedule for senior executives and other employees.
Vacation leave cannot be accumulated from year to year. The Executive also
shall be entitled to other paid sick, personal or other leave in accordance
with the Bank&#146;s policy for senior executives, or otherwise as approved by the
Board. In addition to paid vacation and other leave, 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.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; EXPENSE PAYMENTS AND REIMBURSEMENTS. Executive shall be
reimbursed for all reasonable out-of-pocket business expenses that Executive
shall incur in connection with his</font></p>


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<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">services under this
Agreement upon substantiation of such expenses in accordance with applicable
policies of the Bank.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(g)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; AUTOMOBILE ALLOWANCE. During the term of this Agreement,
the Executive shall be entitled to the use of a Bank-owned automobile. The Bank
shall provide car insurance, maintenance and gas for said automobile. Executive
shall comply with all reasonable reporting and expense limitations on the use
of such automobile as may be established by the Bank from time to time, and the
Bank shall annually include on Executive&#146;s Form W-2 any amount of income
attributable to Executive&#146;s personal use of such automobile.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; TERMINATION AND TERMINATION PAY.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Executive&#146;s employment under
this Agreement may be terminated in the following circumstances:</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; DEATH. Executive&#146;s employment under this Agreement will
terminate upon Executive&#146;s death during the term of this Agreement. Upon any
termination for death, Executive&#146;s estate will receive (1) Executive&#146;s base
salary through the effective date of termination, (2) payment of any bonuses or
incentive compensation with respect to the fiscal year ended prior to the
fiscal year in which the termination date occurs that was earned and unpaid,
and (3) reimbursement of all expenses for which Executive is entitled to be
reimbursed pursuant to Section 2 hereof, but for which he has not yet been
reimbursed (collectively, the &#147;Accrued Compensation.&#148;).</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; RETIREMENT. This Agreement will terminate upon Executive&#146;s
retirement under the retirement benefit plan or plans in which Executive
participates pursuant to Section 2(c) of this Agreement or otherwise. Upon any
termination for retirement, Executive will receive all Accrued Compensation.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; DISABILITY. The Board or Executive may terminate
Executive&#146;s employment after having determined that Executive has a Disability.
For purposes of this Agreement, &#147;Disability&#148; shall have the same meaning given
to such term under the Bank&#146;s Long-Term Disability plan as in effect from time
to time, or, if no such plan is then in effect, the meaning described in
Section 22(c)(3) of the Internal Revenue Code (the &#147;Code&#148;).</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Upon any termination for
disability, Executive will no longer be obligated to perform services under
this Agreement. The Bank further will pay Executive, as Disability pay, an
amount equal to one-hundred percent (100%) of Executive&#146;s bi-weekly rate of
base salary in effect as of the date of Executive&#146;s termination of employment
due to Disability. The Bank will make Disability payments on a monthly basis
commencing on the first day of the month following the effective date of
Executive&#146;s termination of employment due to Disability and ending on the
earlier of: (A) the date Executive returns to full-time employment in the same
capacity as he was employed prior to Executive&#146;s termination for Disability;
(B) Executive&#146;s death; (C) Executive&#146;s attainment of age 65; or (D) the date
this Agreement would have expired had Executive&#146;s employment not terminated by
reason of Disability. Such payments shall be reduced by the amount of any
short- or long-term disability benefits payable to Executive under any other
disability programs sponsored by the Bank or its affiliates. In addition,
during any period of Executive&#146;s Disability, the Bank will continue to provide
Executive and his dependents, to the greatest extent possible, with continued
coverage under all benefit plans (including, without limitation, retirement
plans and medical, dental and life</font></p>


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<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">insurance plans) in which
Executive and/or his dependents participated prior to Executive&#146;s Disability on
the same terms as if he remained actively employed by the Bank.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; TERMINATION FOR CAUSE. The Board may,
by written notice to Executive, immediately terminate his employment at any time
for &#147;Cause.&#148; Upon termination for Cause, Executive shall receive all Accrued
Compensation. Termination for Cause shall mean termination because of, in the
good faith determination of the Board, Executive&#146;s:</font></p>

<p style="margin:0pt 0pt 12.0pt 72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Act of dishonesty,
falsification of Bank or Holding Company documents, or other intentional
misrepresentation related to business matters of the Bank or the Holding
Company;</font></p>

<p style="margin:0pt 0pt 12.0pt 36.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Incompetence;</font></p>

<p style="margin:0pt 0pt 12.0pt 36.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(3)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Willful
misconduct or action in bad faith;</font></p>

<p style="margin:0pt 0pt 12.0pt 36.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(4)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Breach
of fiduciary duty;</font></p>

<p style="margin:0pt 0pt 12.0pt 72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(5)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Failure to
substantially perform his stated duties and obligations to the Bank, including,
but not limited to, one or more acts of gross negligence;</font></p>

<p style="margin:0pt 0pt 12.0pt 72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(6)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Willful violation of
any law, rule or regulation (other than traffic violations or similar offenses)
that reflects adversely on the reputation of the Bank or the Holding Company,
any felony conviction, any violation of law involving moral turpitude, or any
violation of a final cease-and-desist order;</font></p>

<p style="margin:0pt 0pt 12.0pt 72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(7)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Commission of any
tortious act, unlawful act or malfeasance that causes or reasonably could cause
harm to the Bank or the Holding Company;</font></p>

<p style="margin:0pt 0pt 12.0pt 72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(8)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Material breach of
any provision of this Agreement, or the written policies of the Bank and/or
Holding Company (including, but not limited to the Hampden Bank Code of Ethics
and Conflict of Interest Policy); and/or</font></p>

<p style="margin:0pt 0pt 12.0pt 72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(9)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Violation of the
Securities Act of 1933 or the Securities Exchange Act of 1934.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; VOLUNTARY TERMINATION BY EXECUTIVE.
Executive may voluntarily terminate his employment during the term of this
Agreement upon at least sixty (60) days prior written notice to the Board. In
its discretion, the Board may accelerate Executive&#146;s termination date. Upon
Executive&#146;s voluntary termination, he will receive all Accrued Compensation as
of the date of his termination (as determined by the Board).</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; WITHOUT CAUSE OR WITH GOOD REASON.
The Board may, by written notice to Executive, immediately terminate his
employment at any time for a reason other than Cause (a termination &#147;Without
Cause&#148;) and Executive may, by written notice to the Board, immediately
terminate this Agreement at any time within ninety (90) days following an event
constituting &#147;Good Reason,&#148; as defined below (a termination &#147;With Good
Reason&#148;).</font></p>


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<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In the event of
termination under this Section 3(f) (other than a termination without Cause or
for Good Reason within two (2) years of a Change in Control (defined in Section
4(a)), in which event Section 4(c) shall apply), the Bank shall pay Executive:</font></p>

<p style="margin:0pt 0pt 12.0pt 36.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; all
Accrued Compensation;</font></p>

<p style="margin:0pt 0pt 12.0pt 72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; a severance payment
equal to his base salary for the remaining term of the Agreement, paid
periodically in accordance with the Bank&#146;s customary payroll practices over the
remaining term of the Agreement; and</font></p>

<p style="margin:0pt 0pt 12.0pt 72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(3)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; directly, or by
reimbursing the Executive for, the monthly premium for continuation coverage under
the Bank&#146;s health and dental insurance plans, to the same extent that such
insurance is provided to persons currently employed by the Bank, provided that
the Executive makes a timely election for such continuation coverage under the
Consolidate Omnibus Budget Reconciliation Act of 1985 (&#147;COBRA&#148;). The
&#147;qualifying event&#148; under COBRA shall be deemed to have occurred on the
termination date. The Bank&#146;s obligation under this paragraph shall end 18
months after the termination date or at such earlier date as the Executive
becomes eligible for comparable coverage under another employer&#146;s group
coverage. The Executive agrees to notify the Bank promptly and in writing of
any new employment and to make full disclosure to the Bank of the health and
dental insurance coverage available to him through such new employment.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In addition,
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 Executive or accrued on
Executive&#146;s behalf under such programs during the twelve (12) months preceding
his termination) and continue to participate in any benefit plans of the Bank
that provide life insurance, upon terms no less favorable than the most
favorable terms provided to employees of the Bank during such period. In the
event that the Bank is unable to provide such coverage by reason of Executive
no longer being an employee, the Bank shall provide Executive with comparable
coverage on an individual policy basis.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;Good Reason&#148;
shall exist if, without Executive&#146;s express written consent, the Bank or the
Holding Company materially breaches any of its obligations under this
Agreement. Such a material breach shall be deemed to occur upon any of the
following:</font></p>

<p style="margin:0pt 0pt 12.0pt 72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; A material reduction
in Executive&#146;s responsibilities or authority in connection with his employment
with the Bank or the Holding Company;</font></p>

<p style="margin:0pt 0pt 12.0pt 72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Assignment to
Executive of duties of a non-executive nature or duties for which he is not
reasonably equipped by his skills and experience;</font></p>

<p style="margin:0pt 0pt 12.0pt 72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(3)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Failure of Executive
to be nominated or renominated to the Board to the extent Executive is a Board
member prior to the Effective Date;</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">5</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p style="margin:0pt 0pt 12.0pt 72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(4)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; A material reduction
in salary or benefits contrary to the terms of this Agreement, or, following a
Change in Control (as defined in Section 4 of this Agreement), any material
reduction in salary or benefits below the amounts Executive was entitled to
receive before the Change in Control;</font></p>

<p style="margin:0pt 0pt 12.0pt 72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(5)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; A requirement that
Executive relocate his principal business office or his principal place of
residence outside of the area consisting of a thirty-five (35) mile radius from
the current main office of the Bank and any branch of the Bank, or the
assignment to Executive of duties that would reasonably require such a
relocation; or</font></p>

<p style="margin:0pt 0pt 12.0pt 72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(6)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Liquidation or
dissolution of the Bank or the Holding Company.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Notwithstanding
the foregoing, a reduction or elimination of Executive&#146;s benefits under one or
more benefit plans maintained as part of a good faith, overall reduction or
elimination of such plans or benefits, applicable to all participants in a
manner that does not discriminate against Executive (except as such
discrimination may be necessary to comply with law), will not constitute an
event of Good Reason or a material breach of this Agreement, provided that
benefits of the same type or to the same general extent as those offered under
such plans before the reduction or elimination are not available to other
officers of the Bank or any affiliate under a plan or plans in or under which
Executive is not entitled to participate.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; PAYMENTS IN CONNECTION WITH A
CHANGE IN CONTROL.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; For purposes of this Agreement, a
&#147;Change in Control&#148; shall mean any of the following events:</font></p>

<p style="margin:0pt 0pt 12.0pt 72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; MERGER. The Bank or
the Holding Company merges into or consolidates with another entity, or merges
another corporation into the Bank or Holding 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 Bank or the Holding Company immediately before the merger
or consolidation;</font></p>

<p style="margin:0pt 0pt 12.0pt 72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; ACQUISITION OF
SIGNIFICANT SHARE OWNERSHIP. There is filed, or is 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,
as amended, 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 Bank or the Holding Company&#146;s voting securities, but this clause (ii) shall
not apply to beneficial ownership of Bank or Holding Company voting shares held
in a fiduciary capacity by an entity of which the Bank or the Holding Company
directly or indirectly beneficially owns 50% or more of its outstanding voting
securities.</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">6</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p style="margin:0pt 0pt 12.0pt 72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(3)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; CHANGE IN BOARD
COMPOSITION. During any period of two consecutive years, individuals who
constitute the Bank&#146;s or the Holding Company&#146;s Board of Directors at the
beginning of the two-year period cease for any reason to constitute at least a
majority of the Bank&#146;s or the Holding Company&#146;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
members) 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</font></p>

<p style="margin:0pt 0pt 12.0pt 72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(4)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; SALE OF ASSETS. The
Bank or the Holding Company sells to a third party all or substantially all of
its assets.</font></p>

<p style="margin:0pt 0pt 12.0pt 72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(5)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; TENDER OFFER. A
tender offer is made for 25% or more of the voting securities of the Bank or
the Holding Company.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; In the event that, upon a change in
ownership or control within the meaning of Section 409A(a)(2)(A)(v) of the
Code, Executive is offered employment with the Bank or its successor that is
comparable in terms of compensation and responsibilities, and Executive stays
for six (6) months after the change in ownership or control is completed, Executive
shall receive a lump sum payment in the amount of three (3) months base salary.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; TERMINATION. If within the period
ending two (2) years after a Change in Control, (i) the Bank or the Holding
Company terminates Executive&#146;s employment Without Cause (defined in Section
3(d) above), or (ii) Executive voluntarily terminates his employment With Good
Reason (defined in Section 3(f) above), the Bank will, within ten (10) calendar
days of the termination of Executive&#146;s employment, pay Executive:</font></p>

<p style="margin:0pt 0pt 12.0pt 72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; all Accrued
Compensation;</font></p>

<p style="margin:0pt 0pt 12.0pt 72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; one lump-sum cash
payment equal to three (3) times Executive&#146;s average &#147;Annual Compensation&#148; 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&#146;s average &#147;Annual Compensation&#148;, &#147;Annual Compensation&#148;
will 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, retirement benefits,
director or committee fees and fringe benefits paid or accrued for Executive&#146;s
benefit. Annual compensation will also include 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 for such year; and</font></p>

<p style="margin:0pt 0pt 12.0pt 72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(3)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; directly, or by
reimbursing the Executive for, the monthly premium for continuation coverage
under the Bank&#146;s health and dental insurance plans, to the same extent that
such insurance is provided to persons currently</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">7</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p style="margin:0pt 0pt 12.0pt 72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">employed by the Bank, provided that the Executive makes a timely
election for such continuation coverage under the Consolidate Omnibus Budget
Reconciliation Act of 1985 (&#147;COBRA&#148;). The &#147;qualifying event&#148; under COBRA shall
be deemed to have occurred on the termination date. The Bank&#146;s obligation under
this paragraph shall end 18 months after the termination date or at such
earlier date as the Executive becomes eligible for comparable coverage under
another employer&#146;s group coverage. The Executive agrees to notify the Bank
promptly and in writing of any new employment and to make full disclosure to
the Bank of the health and dental insurance coverage available to him through
such new employment.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In addition, 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 Bank that provide life insurance upon
terms no less favorable than the most favorable terms provided to Executives of
the Bank during such period. In the event that the Bank is unable to provide
such coverage by reason of the Executive no longer being an Executive, the Bank
shall provide the Executive with comparable coverage on an individual policy.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The cash payments made under Section
4(c) shall be made in lieu of any payments also required under Section 3(f) of
this Agreement because of Executive&#146;s termination of employment.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; CONFIDENTIALITY, NON-COMPETITION
AND NON-SOLICITATION.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; CONFIDENTIALITY.</font></p>

<p style="margin:0pt 0pt 12.0pt 72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#147;Confidential
Information&#148; is information however delivered, disclosed, or discovered during
the term of Executive&#146;s employment, which Executive has, or in the exercise of
ordinary prudence should have, reason to believe is confidential or which the
Bank designates as confidential including, but not limited to:</font></p>

<p style="margin:0pt 0pt 12.0pt 108.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; BANK INFORMATION: Bank or Holding Company proprietary
information, technical data, trade secrets or know-how, including, but not
limited to: research, processes, pricing strategies, communication strategies,
sales strategies, sales literature, sales contracts, product plans, products,
inventions, methods, services, computer codes or instructions, software and
software documentation, equipment, costs, customer lists, business studies,
business procedures, finances and other business information disclosed to
Executive by the Bank or the Holding Company, either directly or indirectly in
writing, orally or by drawings or observation of parts or equipment and such
other</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">8</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p style="margin:0pt 0pt 12.0pt 108.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">documentation and
information as is necessary in the conduct of the business of the Bank or the
Holding Company; and</font></p>

<p style="margin:0pt 0pt 12.0pt 108.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; THIRD PARTY INFORMATION: confidential or proprietary
information received by the Bank or the Holding Company from third parties.</font></p>

<p style="margin:0pt 0pt 12.0pt 72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The
Bank&#146;s failure to mark any of the Confidential Information as confidential or
proprietary will not affect its status as Confidential Information.</font></p>

<p style="margin:0pt 0pt 12.0pt 72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(3)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Executive
also agrees that the terms, conditions and subject matter of this Agreement are
considered Confidential Information.</font></p>

<p style="margin:0pt 0pt 12.0pt 72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(4)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Confidential
Information does not include information that has ceased to be confidential by
reason of any of the following: (i) was in Executive&#146;s possession prior to the
date of his initial employment with the Bank, provided that such information is
not known by Executive to be subject to another confidentiality agreement with,
or other obligation of secrecy to, the Bank, the Holding Company, or another
party; (ii) is generally available to the public and became generally available
to the public other than as a result of a disclosure in violation of this
Agreement; (iii) became available to Executive on a non-confidential basis from
a third party, provided that such third party is not known by Executive to be
bound by a confidentiality agreement with, or other obligation of secrecy to,
the Bank, the Holding Company, or another party or is otherwise prohibited from
providing such information to Executive by a contractual, legal or fiduciary
obligation; or (iv) Executive is required to disclose pursuant to applicable
law or regulation (as to which information, Executive will provide the Bank
with prior notice of such requirement and, if practicable, an opportunity to
obtain an appropriate protective order).</font></p>

<p style="margin:0pt 0pt 12.0pt 72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(5)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Executive
shall not, either during or after the termination of his or her employment with
the Bank, communicate or disclose to any third party the substance or content
of any Confidential Information (defined above), or use such Confidential
Information for any purpose other than the performance of Executive&#146;s
obligations hereunder. Executive acknowledges and agrees that any Confidential
Information obtained by Executive during the performance of his or her
employment concerning the business or affairs of the Bank, or any subsidiary,
affiliate or joint venture of the Bank is the property of the Bank, or such
subsidiary, affiliate or joint venture of the Bank, as the case may be.</font></p>

<p style="margin:0pt 0pt 12.0pt 72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(6)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Executive
agrees to return all Confidential Information, including all copies and
versions of such Confidential Information (including, but not limited to,
information maintained on paper, disk, CD-ROM, network server, or any other
retention device whatsoever) and other property of the Bank, to</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">9</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p style="margin:0pt 0pt 12.0pt 72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">the Bank within two (2) business days of his
separation from the Bank (regardless of the reason for the separation).</font></p>

<p style="margin:0pt 0pt 12.0pt 72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(7)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; RECOGNITION
OF GOOD WILL. Executive further recognizes and acknowledges that in the course
of employment he is and will be introduced to customers and others with
important relationships to the Bank. Executive acknowledges and agrees that any
and all &#147;goodwill&#148; associated with any existing or prospective customer,
account or business partner belongs exclusively to the Bank including, but not
limited to, any goodwill created as a result of direct or indirect contacts or
relationships between Executive and any existing or prospective customers,
accounts, business partners and other key relationships of the Bank.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; NON-COMPETITION. In view of the
covenants above, and as a material inducement to the Bank to enter into this
Agreement and to pay to Executive the compensation stated in Section 2,
Executive agrees that during his employment and for a period of one (1) year
thereafter (the &#147;Non-Competition Period&#148;), he shall not, for himself or on
behalf of any other person or entity, directly or indirectly own, manage,
control, participate in, consult with, render services for or in any manner
engage in or have a financial interest in any business that competes with the
depository, lending, or other business activities of the Bank in any city, town
or county in which Executive&#146;s normal business office is located, or the Bank
has an office or has filed an application for regulatory approval to establish
an office, determined as of the effective date of such termination, except as
agreed to pursuant to a resolution duly adopted by the Bank.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Executive
further agrees that during the Non-Competition Period, he will not serve as an
officer, director or employee of any bank holding company, bank, savings
association, savings and loan holding company, mortgage company or other
financial institution that offers products or services competing with those
offered by the Bank or its subsidiaries or affiliates from any office within
thirty-five (35) miles from the main office of the Bank or any branch of the
Bank.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
foregoing shall not prohibit Executive from being a passive owner of not more
than 5% of the outstanding stock of a corporation which is publicly traded, so
long as Executive has no active participation in the business of the
corporation.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; NON-SOLICITATION. During the
Non-Competition Period Executive shall not, either individually or on behalf of
or through any third party, directly or indirectly, engage in the following
activities:</font></p>

<p style="margin:0pt 0pt 12.0pt 72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; CUSTOMER,
CLIENT AND VENDOR NON-SOLICITATION. Solicit, divert, appropriate or take away,
or attempt to solicit, divert, appropriate or take away, the business or
patronage of any of the clients, customers or vendors of the Bank that were
clients, customers or vendors of the Bank while Executive was employed by the
Bank and that were serviced by Executive, or prospective clients, customers or
vendors with which Executive had written or oral communications while Executive
was employed by the Bank.</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">10</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p style="margin:0pt 0pt 12.0pt 72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; EMPLOYEE
NON-SOLICITATION. Hire, retain, recruit, entice, induce, solicit or encourage
any employee or consultant to terminate their employment with, or otherwise
cease their relationship with, the Bank or its parent, subsidiaries or
affiliates. This section 5(c)(2) shall prohibit the aforesaid actions by
Executive with respect to any person both while such person is a current
employee or consultant of the Bank or such related entities, and for the ninety
(90) day period after such person&#146;s employment or consultancy with the Bank
terminates.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
terms of this Section 5 of the Agreement are in addition to, and not in lieu
of, any other contractual, statutory or common law obligations that Executive
may have relating to the protection of the Bank&#146;s Confidential Information or
its property. The terms of this section shall survive indefinitely Executive&#146;s
employment with the Bank, provided that the Confidential Information of the
Bank remains confidential and is not a matter of public knowledge.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; RETURN OF PROPERTY. Within two (2)
business days of the termination of Executive&#146;s employment hereunder for any
reason or for no reason and at any time requested by the Bank, Executive will
deliver to the Bank any property of the Bank that may be in his possession,
including, but not limited to, memoranda, notes, records, reports or other
documents or photocopies of the same.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; POST-TERMINATION OBLIGATIONS. Any
and all payments, benefits and vested rights due to Executive under this
Agreement are subject to his compliance with Sections 1(c), 5 and 6 of this
Agreement. Upon a good faith finding by the Board that Executive breached
Sections 1(c), 5 or 6 of this Agreement, the Bank shall be excused from making
any and all payments under this Agreement and Executive shall return to the
Bank all previous payments made to him under this Agreement.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; INDEMNIFICATION AND LIABILITY
INSURANCE. Subject to and limited by Section 22 of this Agreement, the Bank
shall provide the following:</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; INDEMNIFICATION. The Bank agrees to
indemnify Executive (and his heirs, executors, and administrators), and to
advance expenses related to this indemnification, to the fullest extent
permitted under applicable law and regulations against any and all expenses and
liabilities that Executive reasonably incurs in connection with or arising out
of any action, suit, or proceeding in which he may be involved by reason of his
service as a director or Executive of the Bank or any of its subsidiaries or
affiliates (whether or not he continues to be a director or Executive at the
time of incurring any such expenses or liabilities). Covered expenses and
liabilities include, but are not limited to, judgments, court costs, and
attorneys&#146; fees and the costs of reasonable settlements, subject to Board
approval, if the action is brought against Executive in his capacity as an
Executive or director of the Bank or any of its subsidiaries or affiliates.
Indemnification for expenses will not extend to matters related to Executive&#146;s
termination for Cause. Notwithstanding anything in this Section 8(a) to the
contrary, the Bank will not be required to provide indemnification prohibited
by applicable law or regulation including, but not limited to, Section 409A of
the Code. The obligations of this Section 8 shall survive the term of this
Agreement by a period of six (6) years.</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">11</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; INSURANCE. During the period for
which the Bank must indemnify Executive under this Section, the Bank will
provide Executive (and his heirs, executors, and administrators) with coverage
under a directors&#146; and officers&#146; liability policy, at the Bank&#146;s expense, that
is at least equivalent to the coverage provided to directors and senior
executives of the Bank and its subsidiaries.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; LIMITATION ON PAYMENTS. In the
event that the severance and other benefits provided for in this Agreement or
otherwise payable to the Executive (i) constitute &#147;parachute payments&#148; within
the meaning of Section 280G of the Code and (ii) but for this Section 9, would
be subject to the excise tax imposed by Section 4999 of the Code, then the
Executive&#146;s severance benefits shall be either:</font></p>

<p style="margin:0pt 0pt .0001pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; delivered in full, or</font></p>

<p style="margin:0pt 0pt .0001pt;text-indent:108.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; delivered as to such
lesser extent which would result in no portion of such severance benefits being
subject to excise tax under Section 4999 of the Code,</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">whichever of the foregoing
amounts, taking into account the applicable federal, state and local income
taxes and the excise tax imposed by Section 4999, results in the receipt by the
Executive on an after-tax basis, of the greatest amount of severance benefits,
notwithstanding that all or some portion of such severance benefits may be taxable
under Section 4999 of the Code. Unless the Bank and the Executive otherwise
agree in writing, any determination required under this Section 9 shall be made
in writing by the Bank&#146;s independent public accountants immediately prior to
Change in Control (the &#147;Accountants&#148;), whose determination shall be conclusive
and binding upon the Executive and the Bank for all purposes. For purposes of
making the calculations required by this Section 1, the accountants may make
reasonable assumptions and approximations concerning applicable taxes and may
rely on reasonable, good faith interpretations concerning the application of
Sections 280G and 4999 of the Code. The Bank and the Executive shall furnish to
the Accountants such information and documents as the Accountants may
reasonably request in order to make a determination under this Section. The
Bank shall bear all costs the Accountants may reasonably incur in connection
with any calculations contemplated by this Section 9.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; DISCLOSURE TO FUTURE AND PROSPECTIVE EMPLOYERS. Executive
agrees that the Bank may notify any of his future or prospective employers or
other third parties of this Agreement and may provide a copy of this Agreement
to such parties without Executive&#146;s further consent.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; INJUNCTIVE RELIEF. The parties hereto, recognizing that
irreparable injury will result to the Bank, its business and property in the
event of Executive&#146;s breach or threatened breach of Sections 1(c), 5, and 6 of
this Agreement, agree that in the event of any such breach, the Bank, will be
entitled, in addition to any other remedies and damages available, to an
injunction to restrain Executive&#146;s violation as well as any violations of his
partners, agents, servants, Executives and all persons acting for or under
Executive&#146;s direction. Nothing herein will be construed as prohibiting the Bank
from pursuing any other remedies available to the Bank for such breach or
threatened breach, including the recovery of damages from Executive.</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">12</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; SUCCESSORS AND ASSIGNS.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; SUCCESSOR TO BANK. The Bank shall require any successor or
assignee, whether direct or indirect, by purchase, merger, consolidation or
otherwise, to all or substantially all of the business or assets of the Bank or
the Holding Company, expressly and unconditionally to assume and agree to
perform the Bank&#146;s obligations under this Agreement, in the same manner and to
the same extent that the Bank would be required to perform if no such
succession or assignment had taken place.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; SUCCESSOR TO THE EXECUTIVE. Since the Bank is contracting
for the unique and personal skills of the Executive, neither this Agreement nor
any right or interest hereunder will be assignable or transferable by the
Executive, his beneficiaries or legal representatives, except by will or by the
laws of descent and distribution. This Agreement will inure to the benefit of
and be enforceable by the Executive&#146;s legal personal representative.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 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.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 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 Bank at its principal
business offices and to Executive at his home address as maintained in the
records of the Bank.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">15.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; NO PLAN CREATED BY THIS AGREEMENT. Executive and the Bank
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 Executive Retirement Income
Security Act of 1974 (&#147;ERISA&#148;) 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 an ERISA plan was
created by this Agreement shall be deemed a material breach of this Agreement
by the party making the assertion.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">16.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; AMENDMENTS AND WAIVER. 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. No waiver by either
party of any breach of, or of compliance with, any condition or provision of
this Agreement by the other party shall be considered a waiver of any other
condition or provision or of the same condition or provision at another time.
Further, the Bank&#146;s waiver of its right to enforce similar conditions or
provisions in another employee&#146;s agreement (employment or other) shall not
operate as a waiver of its right to enforce any of the conditions or provisions
in this Agreement.</font></p>


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<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">17.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; CHOICE OF LAW; ENFORCEABILITY; WAIVER OF JURY TRIAL</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; THE LAW OF MASSACHUSETTS APPLIES TO THIS AGREEMENT. This
Agreement and all transactions contemplated by this Agreement shall be governed
by and construed and enforced in accordance with the internal laws of the
Commonwealth of Massachusetts, without regard to principles of conflicts of
law.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; ANY DISPUTE REGARDING THIS AGREEMENT WILL TAKE PLACE IN
MASSACHUSETTS. The Parties agree that this Agreement shall be enforced by the
Business Litigation Session of the Massachusetts Superior Court located in
Suffolk County, which retains exclusive jurisdiction and venue for any actions
or proceedings, demand, claim or counterclaim relating to, or arising under,
the terms and provisions of this Agreement, or to its breach. The Parties
further acknowledge that material witnesses and documents would be located in
Massachusetts.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">18.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; SEVERABILITY. If a court of competent jurisdiction
determines that any portion of this Agreement is illegal, invalid or
unenforceable, then that portion shall be considered to be removed from the
Agreement and it shall not affect the legality, validity or enforceability of
the remainder of the Agreement and the remainder of the Agreement shall
continue in full force and effect. Similarly, if the scope of any restriction
or covenant contained herein should be or become too broad or extensive to
permit enforcement thereof to its full extent, then the court is specifically
authorized by the parties to enforce any such restriction or covenant to the
maximum extent permitted by law, and Executive hereby consents and agrees that
the scope of any such restriction or covenant may be modified accordingly in
any judicial proceeding brought to enforce such restriction or covenant.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">19.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; HEADINGS. Headings contained in this Agreement are for
convenience of reference only.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; ENTIRE AGREEMENT. This Agreement, together with any
modifications subsequently agreed to in writing by the parties, along with the
plans and any written agreements entered into by the parties pursuant to
Sections 2(c) and (d), shall constitute the entire agreement between the
parties, and shall supersede all prior agreements, understandings and
arrangements, oral or written, between the parties.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">21.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; SOURCE OF PAYMENTS. All payments provided in this
Agreement shall be paid in from the general funds of the Bank. In the event,
however, that the Bank is unable to make such payments to the Executive, such
amounts and benefits shall be paid or provided by the Holding Company.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">22.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; MISCELLANEOUS. Any payment made pursuant to this
Agreement, or otherwise, is subject to and conditioned upon their compliance
with 12 U.S.C. Section 1828(k) and FDIC regulation 12 C.F.R. Part 359, Golden
Parachute and Indemnification Payments.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; REPRESENTATIONS. Executive hereby represents and warrants
to the Bank that he understands this Agreement, that he enters into this
Agreement voluntarily and that his employment under this Agreement will not
conflict with any legal duty owed by him to any other party, or with any
agreement to which Executive is a party or by which he is bound,</font></p>


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<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">including, without
limitation, any non-competition or non-solicitation provision contained in any
such agreement. Executive will indemnify and hold harmless the Bank and its
officers, directors, security holders, partners, members, Executives, agents
and representatives against loss, damage, liability or expense arising from any
claim based upon circumstances alleged to be inconsistent with such
representation and warranty.</font></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[REMAINDER OF THIS PAGE
INTENTIONALLY LEFT BLANK]</font></p>


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<div style="font-family:Times New Roman;">
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<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SIGNATURES</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">IN WITNESS WHEREOF, the
parties hereto have executed this Agreement on January 16, 2007.</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="41%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:41.42%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading -->ATTEST:</p>
  </td>
  <td width="5%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:5.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="53%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:53.58%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">HAMPDEN BANK</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="41%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:41.42%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:5.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="53%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:53.58%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="41%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:41.42%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:5.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="53%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:53.58%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="41%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:41.42%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Donald Dupr&#233;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:5.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.1%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="31%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:31.3%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Robert A. Massey</font></p>
  </td>
  <td width="19%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:19.2%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="41%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:41.42%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Corporate
  Secretary</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:5.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="53%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:53.58%;">
  <p style="margin:0pt 0pt .0001pt 28.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">For the Entire
  Board of Directors</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="41%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:41.42%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:5.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="53%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:53.58%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="41%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:41.42%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:5.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="53%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:53.58%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="41%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:41.42%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ATTEST:</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:5.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="53%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:53.58%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">HAMPDEN BANCORP, INC.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="41%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:41.42%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:5.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="53%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:53.58%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="41%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:41.42%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:5.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="53%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:53.58%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="41%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:41.42%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Donald Dupr&#233;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:5.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.1%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="31%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:31.3%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Robert A. Massey</font></p>
  </td>
  <td width="19%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:19.2%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="41%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:41.42%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Corporate
  Secretary</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:5.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="53%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:53.58%;">
  <p style="margin:0pt 0pt .0001pt 28.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">For the Entire
  Board of Directors</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="41%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:41.42%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:5.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="53%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:53.58%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="41%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:41.42%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:5.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="53%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:53.58%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="41%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:41.42%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WITNESS:</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:5.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="53%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:53.58%;">
  <p style="margin:0pt 0pt .0001pt 30.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">EXECUTIVE:</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="41%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:41.42%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:5.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="53%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:53.58%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="41%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:41.42%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Donald Dupr&#233;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:5.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="34%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:34.4%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Thomas R. Burton</font></p>
  </td>
  <td width="19%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:19.2%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="41%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:41.42%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Corporate
  Secretary</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:5.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="53%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:53.58%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Thomas R. Burton</font></p>
  </td>
 </tr>
</table>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">16</font></p>
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