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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): June 12, 2006
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NEW ENGLAND BANCSHARES, INC.
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(Exact name of registrant as specified in its charter)
Maryland 0-51589 04-3693643
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(State or other Jurisdiction of (Commission (IRS Employer
incorporation or organization) File Number) Identification No.)
855 Enfield Street, Enfield, Connecticut 06082
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(Address of principal executive offices)
(860) 253-5200
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(Registrant's telephone number, including area code)
Not Applicable
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(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
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ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
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On June 12, 2006, the Compensation Committee of the Board of Directors
of Enfield Federal Savings and Loan Association ("Enfield Federal"), the
wholly-owned subsidiary of New England Bancshares, Inc. (the "Company"),
approved the Enfield Federal Savings and Loan Association Amended and Restated
Supplemental Executive Retirement Plan. Prior to amendment, the plan provided
each participant with an annual retirement benefit of $172,796 for the first 180
months after retirement and an annual benefit based on a set index thereafter
until the participant's death. The amendment replaced the form of benefit
payment so that a participant now receives an annual retirement benefit of
$172,796 for a period equal to the later of: (1) twenty years following the
participant's retirement; or (2) the participant's death. No other material
changes were made to the plan.
The plan provides that members of management or highly compensated
employees as designated by the Board of Directors are eligible to participate in
the plan. Currently, only David J. O'Connor, President and Chief Executive
Officer of Enfield Federal and the Company, has been designated by the Board to
participate in the Plan.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Dated: June 16, 2006 By: /s/ Scott D. Nogles
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Scott D. Nogles
Senior Vice President and
Chief Financial Officer