Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On February 9, 2012, the Compensation Committee of the Board of Directors of Georgetown Savings Bank (the "Bank"), the wholly owned savings bank subsidiary of Georgetown Bancorp, Inc. (the "Company"), adopted individual compensation plans for certain officers of the Bank. The individual incentive plans were adopted pursuant to the Bank's Incentive Compensation Plan, which was previously disclosed as Exhibit 10.4 to the Company's Annual Report on Form 10-K, filed with the SEC on March 31, 2011.

The individual incentive plans for Robert E. Balletto, President and Chief Executive Officer of the Bank and for Joseph W. Kennedy, Senior Vice President and Chief Financial Officer of the Bank are attached as Exhibits 10.1 and 10.2, respectively, to this Form 8-K.

The incentive plans have three levels of performance, at which payments can be made. There are minimum thresholds of performance regarding CAMELS ratings and asset quality that must be maintained in order to receive payment for the achievement of the incentive goals.

Mr. Balletto's plan provides for a target payment of $33,867, or 18% of current annual salary with the following performance categories: (i) achievement of return on assets (ROA) targets; (ii) achievement of efficiency ratio targets. The target payment can be increased on a sliding scale for improvement in ROA performance and efficiency ratio performance, as well as for an increase in the base salary.

Mr. Kennedy's plan provides for a target payment of $14,080, or 11% of current annual salary with the following performance categories: (i) achievement of ROA targets; (ii) achievement of efficiency ratio targets; (iii) achievement of net interest margin percentage targets. The target payment can be increased on a sliding scale for improvement in ROA performance and efficiency ratio performance and the net interest margin percentage above the maximum targets.

The total cost of the incentive plan for all eligible employees would be approximately $185,743, assuming that all incentive targets were exceeded at various levels and at existing salary levels. The actual cost will vary dependent upon performance.

The individual incentive plans referred to above are filed as Exhibits hereto, and the foregoing descriptions of such plans are qualified by reference to the plans themselves.

Item 9.01. Financial Statements and Exhibits.

(a) Not Applicable.

(b) Not Applicable.

(c) Not Applicable.

(d) Exhibits

10.1 Individual Incentive Plan for Robert E. Balletto

10.2 Individual Incentive Plan for Joseph W. Kennedy