This Agreement is made and entered into as of the 29th day of March, 2001, by and between THE
BANK OF SOUTHERN CONNECTICUT, INC., having its principal place of business in New Haven,
Connecticut (hereinafter referred to as the "Employer") and GARY D. MULLIN, residing in Orange,
Connecticut (hereinafter referred to as the "Employee").
W I T N E S S E T H
WHEREAS, the Employee is experienced in the operation and management of a bank; and
WHEREAS, the Employer desires to secure the services of the Employee on the terms herein set
WHEREAS, the Employee is willing to enter into this Agreement on said terms;
NOW, THEREFORE, in consideration of the promises and the mutual covenants herein contained,
the parties hereto, intending to be legally bound, do hereby mutually covenant and a agree as follows:
1. Employment . The Employer agrees to employ the Employee as President and Chief
Operating Officer of the Employer for the Term of Employment as defined in Section 2, and the Employee
accepts said employment and agrees to serve in such capacity upon the terms and conditions hereinafter set forth.
2. Term of Employment . The Term of Employment shall commence on the opening day of
operation of the Employer as a bank and shall end three (3) years from such date. Notwithstanding the foregoing,
the term of Employment shall end if sooner terminated as provided in Section 5.
3. Duties of Employment . The Employee agrees that, so long as he shall be employed by the
Employer, the Employee shall perform all duties assigned or delegated to him under the by-laws of the Employer
or from time to time by the Board of Directors of the Employer consistent with his position as President and Chief
Operating Officer of the Employer or as designated below, and shall be responsible for and perform all acts and