WAIVER OF SALARY CONTINUATION AGREEMENT

Exhibit 10.8

WAIVER OF SALARY CONTINUATION AGREEMENT

This WAIVER OF SALARY CONTINUATION AGREEMENT, dated August 13, 2007, is by and between UNION TRUST COMPANY, a Maine banking corporation with a place of business in Ellsworth, Hancock County, Maine (the “Bank”), and Peter A. Blyberg of Blue Hill, Maine (the “Employee”).

WHEREAS, the Bank is a subsidiary of Union Bankshares Company (the “Corporation”); and

WHEREAS, the Bank and the Employee entered into a certain Salary Continuation Agreement on August 12, 1993 (the “Agreement”); and

WHEREAS, the Corporation is in discussions to engage in a transaction (the “Proposed Transaction”) with Camden National Corporation which, if and when consummated, would constitute a “Business Combination” (as such term is defined in the Agreement); and

WHEREAS, the Employee, as a shareholder and employee of the Corporation, will benefit from the consumm