<PAGE>

                                  EXHIBIT 10.5

          Change in Control Agreement Between Great American Federal
          Savings and Loan Association and Todd Cover
<PAGE>

             GREAT AMERICAN FEDERAL SAVINGS AND LOAN ASSOCIATION
                     TWO YEAR CHANGE IN CONTROL AGREEMENT


     This AGREEMENT is made effective as of April 20, 1998 and among Great
American Federal Savings and Loan Institution (the "Institution"), a federally
chartered savings institution, with its principal administrative office
at 4750 Clairton Boulevard, Pittsburgh, Pennsylvania 15236, Todd L. Cover
("Executive"), and GA Financial, Inc. (the "Holding Company"), a corporation
organized under the laws of the State of Delaware which is the holding company
of the institution.

     WHEREAS, the Insitution anticipates the substantial contribution Executive
will make to the Institution and wishes to protect Executive's position
therewith for the period provided in this Agreement; and

     WHEREAS, Executive has agreed to serve in the employ of the Institution.

     NOW, THEREFORE, in consideration of the contribution and responsibilities
of Executive, and upon the other terms and conditions hereinafter provided,
the parties hereto agree as follows:

1.   TERM OF AGREEMENT.
     -----------------

     The term of the Great American Federal Savings and Loan Association
Two Year Change in Control Agreement ("Agreement") shall be deemed to have
commenced as of the date first above written and shall continue for a period
of twenty-four (24) full calendar months thereafter. Commencing on the first
anniversary date of this Agreement and continuing at each anniversary date
thereafter, the Board of Directors of the Institution ("Board") may extend
the Agreement for an additional year. The Board will review the Agreement
and Executive's performance annually for purposes of determining whether
to extend the Agreement, and the results thereof shall be included in the
minutes of the Board's meeting.

2.   CHANGE IN CONTROL.
     -----------------

     (a) Upon the occurrence of a Change in Control of the Institution or
the Holding Company (as herein defined) followed at any time during the
term of this Agreement by the termination of Executive's employment, other
than for Cause, as defined in Section 2(c) hereof, the provisions of Section
3 shall apply. Upon the occurrence of a Change in Control, Executive shall
have the right to elect to voluntarily terminate his employment at any time
during the term of this Agreement following any demotion,


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 loss of title, office or significant authority, reduction in his annual
 compensation or benefits, or relocation of his principal place of employment by
 more than 25 miles from its location immediately prior to the Change in
 Control; provided, however, the Executive may consent in writing to any such
 demotion, loss, reduction or relocation. The effect of any written consent of
 the Executive under this Section 2(a) shall be strictly limited to the terms
 specified in such written consent.

      (b) For purposes of this Agreement, a "Change in Control" of the
 Institution or Holding Company shall mean an event of a nature that: (i) would
 be required to be reported in response to Item 1 of the current report on Form
 8-K, as in effect on the date hereof, pursuant to Section 13 or 15(d) of the
 Securities Exchange Act of 1934, as amended (the "Exchange Act") ; or (ii)
 results in a Change in Control of the Institution or the Holding Company within
 the meaning of the Home Owners' Loan Act of 1933, as amended, the Federal
 Deposit Insurance Act and the Rules and Regulations promulgated by the Office
 of Thrift Supervision ("OTS") (or its predecessor agency), as in effect on the
 date hereof (provided, that in applying the definition of change in control as
 set forth under the rules and regulations of the OTS, the Board shall
 substitute its judgment for that of the OTS); or (iii) without limitation such
 a Change in Control shall be deemed to have occurred at such time as (A) any
 "person" (as the term is used in Sections 13(d) and 14(d) of the Exchange Act)
 is or becomes the "beneficial owner" (as defined in Rule 13d-3 under the
 Exchange Act), directly or indirectly, of voting securities of the Institution
 or the Holding Company representing 25% or more of the Institution's or the
 Holding Company's outstanding voting securities or right to acquire such
 securities except for any voting securities of the Institution purchased by the
 Holding Company and any voting securities purchased by any employee benefit
 plan of the Institution or the Holding Company, or (B) individuals who
 constitute the Board on the date hereof (the "Incumbent Board") cease for any
 reason to constitute at least a majority thereof, provided that any person
 becoming a director subsequent to the date hereof whose election was approved
 by a vote of at least three-quarters of the directors comprising the Incumbent
 Board, or whose nomination for election by the Holding Company's stockholders
 was approved by the same Nominating Committee serving under an Incumbent Board,
 shall be, for purposes of this clause (B), considered as though he were a
 member of the Incumbent Board, or (C) a plan of reorganization, merger,
 consolidation, sale of all or substantially all the assets of the Institution
 or the Holding Company or similar transaction occurs in which the Institution
 or Holding Company is not the resulting entity; provided, however, that such an
 event listed above will be deemed to have occurred or to have been effectuated
 upon the receipt of all required regulatory approvals not including the lapse
 of any statutory waiting periods.


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       (c) Executive shall not have the right to receive termination benefits
 pursuant to Section 3 hereof upon Termination for Cause. The term "Termination
 for Cause" shall mean termination because of Executive's personal dishonesty,
 incompetence, willful misconduct, any breach of fiduciary duty involving
 personal profit, intentional failure to perform stated duties, willful
 violation of any law, rule or regulation (other than traffic violations or
 similar offenses) or final cease-and-desist order or material breach of any
 provision of this Agreement. Notwithstanding the foregoing, Executive shall not
 be deemed to have been Terminated for Cause unless and until there shall have
 been delivered to him a Notice of Termination which shall include a copy of a
 resolution duly adopted by the affirmative vote of not less than a majority of
 the members of the Board at a meeting of the Board called and held for that
 purpose (after reasonable notice to Executive and an opportunity for him,
 together with counsel, to be heard before the Board), finding that in the good
 faith opinion of the Board, Executive was guilty of conduct justifying
 Termination for Cause and specifying the particulars thereof in detail.
 Executive shall not have the right to receive compensation or other benefits
 for any period after Termination for Cause. During the period beginning on the
 date of the Notice of Termination for Cause pursuant to Section 4 hereof
 through the Date of Termination, stock options and related limited rights
 granted to Executive under any stock option plan shall not be exercisable nor
 shall any unvested awards granted to Executive under any stock benefit plan of
 the institution, the Holding Company or any subsidiary or affiliate thereof
 vest. At the Date of Termination, such stock options and related limited rights
 and such unvested awards shall become null and void and shall not be
 exercisable by or delivered to Executive at any time subsequent to such Date of
 Termination for Cause.

  3.   TERMINATION BENEFITS.
       --------------------

       (a) Upon the occurrence of a Change in Control, followed at any time
 during the term of this Agreement by termination of the Executive's employment
 due to: (1) Executive's dismissal or (2) Executive's voluntary termination
 pursuant to Section 2(a), unless such termination is due to Termination for
 Cause, the Institution and the Holding Company shall pay Executive, or in the
 event of his subsequent death, his beneficiary or beneficiaries, or his estate,
 as the case may be, a sum equal to two (2) times Executive's average annual
 compensation for the five most recent taxable years that Executive has been
 employed by the Institution or such lesser number of years in the event that
 Executive shall have been employed by the Institution for less than five years,
 such average annual compensation shall include any bonuses, and any other
 compensation paid or to be paid to Executive in any such year, the amount of
 benefits paid or accrued to Executive pursuant


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 to any employee benefit plan maintained by the Institution of Holding Company
 in any such year and the amount of any contributions made or to be made on
 behalf of Executive pursuant to any employee benefit plan maintained by the
 Institution or the Holding Company in any such year. At the election of
 Executive, which election is to be made prior to a Change in Control, such
 payment shall be made in a lump sum. In the event that no election is made,
 payment to Executive will be made on a monthly basis in approximately equal
 installments during the remaining term of this Agreement.

       (b) Upon the occurrence of a Change in Control of the Institution or the
 Holding Company followed at any time during the term of this Agreement by
 Executive's voluntary or involuntary termination of employment, other than for
 Termination for Cause, the Institution shall cause to be continued life,
 medical and disability coverage substantially identical to the coverage
 maintained by the Institution or Holding Company for Executive prior to his
 severance, except to the extent such coverage may be changed in its application
 to all Institution or Holding Company employees on a nondiscriminatory basis.
 Such coverage and payments shall cease upon the expiration of thirty-six (36)
 full calendar months from the Date of Termination.

       (c) Notwithstanding the preceding paragraphs of this Section 3, in no
 event shall the aggregate payments or benefits to be made or afforded to
 Executive under said paragraphs (the "Termination Benefits") constitute an
 "excess parachute payment" under Section 280G of the Internal Revenue Code of
 1986, as amended, or any successor thereto, and in order to avoid such a result
 Termination Benefits will be reduced, if necessary, to an amount (the "Non-
 Triggering Amount"), the value of which is one dollar ($1.00) less than an
 amount equal to three (3) times Executive's "base amount," as determined in
 accordance with said Section 280G. The allocation of the reduction required
 hereby among the Termination Benefits provided by the preceding paragraphs of
 this Section 3 shall be determined by Executive.

  4.   NOTICE OF TERMINATION.
       ---------------------

       (a) Any purported termination by the Institution or by Executive in
 connection with a Change in Control shall be communicated by Notice of
 Termination to the other party hereto. For purposes of this Agreement, a
 "Notice of Termination" shall mean a written notice which shall indicate the
 specific termination provision in this Agreement relied upon and shall set
 forth in reasonable detail the facts and circumstances claimed to provide a
 basis for termination of Executive's employment under the provision so
 indicated.

       (b) "Date of Termination" shall mean the date specified in


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  the Notice of Termination (which, in the instance of Termination for Cause,
  shall not be less than thirty (30) days from the date such Notice of
  Termination is given).

       (c) If, within thirty (30) days after any Notice of Termination is given,
 the party receiving such Notice of Termination notifies the other party that a
 dispute exists concerning the termination, the Date of Termination shall be the
 date on which the dispute is finally determined, either by mutual written
 agreement of the parties, by a binding arbitration award, or by a final
 judgment, order or decree of a court of competent jurisdiction (the time for
 appeal therefrom having expired and no appeal having been perfected) and
 provided further that the Date of Termination shall be extended by a notice of
 dispute only if such notice is given in good faith and the party giving such
 notice pursues the resolution of such dispute with reasonable diligence.
 Notwithstanding the pendency of any such dispute in connection with a Change in
 Control, in the event that the Executive is terminated for reasons other than
 Termination for Cause, the Institution will continue to pay Executive his full
 compensation in effect when the notice giving rise to the dispute was given
 (including, but not limited to his annual salary) and continue him as a
 participant in all compensation, benefit and insurance plans in which he was
 participating when the notice of dispute was given, until the earlier of: (1)
 the resolution of the dispute in accordance with this Agreement; or (2) the
 expiration of the remaining term of this Agreement as determined as of the Date
 of Termination.

  5.   SOURCE OF PAYMENTS.
       ------------------

       It is intended by the parties hereto that all payments provided in this
 Agreement shall be paid in cash or check from the general funds of the
 Institution. Further, the Holding Company guarantees such payment and provision
 of all amounts and benefits due hereunder to Executive and, if such amounts and
 benefits due from the Institution are not timely paid or provided by the
 Institution, such amounts and benefits shall be paid or provided by the Holding
 Company.

 6.    EFFECT ON PRIOR AGREEMENTS AND EXISTING BENEFIT PLANS.
       ------------------------------------------------------

      This Agreement contains the entire understanding between the parties
 hereto and supersedes any prior agreement between the Institution and
 Executive, except that this Agreement shall not affect or operate to reduce any
 benefit or compensation inuring to Executive of a kind elsewhere provided. No
 provision of this Agreement shall be interpreted to mean that Executive is
 subject to receiving fewer benefits than those available to him without
 reference to this Agreement.



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       Nothing in this Agreement shall confer upon Executive the right to
  continue in the employ of Institution or shall impose on the Institution any
  obligation to employ or retain Executive in its employ for any period.

  7.   NO ATTACHMENT.
       -------------

       (a) Except as required by law, no right to receive payments under this
  Agreement shall be subject to anticipation, commutation, alienation, sale,
  assignment, encumbrance, charge, pledge, or hypothecation, or to execution,
  attachment, levy, or similar process or assignment by operation of law, and
  any attempt, voluntary or involuntary, to affect any such action shall be
  null, void, and of no effect.

       (b) This Agreement shall be binding upon, and inure to the benefit of,
  Executive, the Institution and their respective successors and assigns.

  8.   MODIFICATION AND WAIVE.
       ----------------------

       (a) This Agreement may not be modified or amended except by an instrument
  in writing signed by the parties hereto.

       (b) No term or condition of this Agreement shall be deemed to have been
  waived, nor shall there be any estoppel against the enforcement of any
  provision of this Agreement, except by written instrument of the party charged
  with such waiver or estoppel. No such written waiver shall be deemed a
  continuing waiver unless specifically stated therein, and each such waiver
  shall operate only as to the specific term or condition waived and shall not
  constitute a waiver of such term or condition for the future or as to any act
  other than that specifically waived.

  9.   RETIRED REGULATORY-PROVISIONS.
       -----------------------------

       (a) The board of directors may terminate Executive's employment at any
  time, but any termination by the board of directors, other than Termination
  for Cause, shall not prejudice Executive's right to compensation or other
  benefits under this Agreement. Executive shall not have the right to receive
  compensation or other benefits for any period after Termination for Cause as
  defined in Section 2 hereinabove.

       (b) If Executive is suspended from office and/or temporarily prohibited
 from participating in the conduct of the Institution's affairs by a notice
 served under Section 8(e) (3) or 8 (g) (1) of the Federal Deposit Insurance Act
 (12 U.S.C. (S) 1818 (e) (3) or (g) (1), the Institution's obligations under
 this contract shall be suspended as of the date of service, unless stayed by
 appropriate proceedings. If the charges in the notice


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 are dismissed, the Institution may in its discretion (i) pay Executive all or
 part of the compensation withheld while their contract obligations were
 suspended and (ii) reinstate (in whole or in part) any of the obligations which
 were suspended.

       (c) If Executive is removed and/or permanently prohibited from
 participating in the conduct of the Institution's affairs by an order issued
 under Section 8 (e) (4) or 8 (g) (1) of the Federal Deposit Insurance Act (12
 U. S. C - (S)1818 (e) (4) or (g) (1)), all obligations of the Institution
 under this contract shall terminate as of the effective date of the order, but
 vested rights of the contracting parties shall not be affected.

       (d) If the Institution is in default as defined in Section 3(x)(1) of the
 Federal Deposit Insurance Act, all obligations of the Institution under this
 contract shall terminate as of the date of default, but this paragraph shall
 not affect any vested rights of the contracting parties.

       (e) All obligations under this contract shall be terminated, except to
 the extent determined that continuation of the contract is necessary for the
 continued operation of the institution: (i) by the Director of the Office of
 Thrift Supervision (or his or her designee) at the time the Federal Deposit
 Insurance Corporation enters into an agreement to provide assistance to or on
 behalf of the Institution under the authority contained in Section 13(c) of the
 Federal Deposit Insurance Act; or (ii) by the Director of the Office of Thrift
 Supervision (or his or her designee) at the time the Director (or his or her
 designee) approves a supervisory merger to resolve problems related to
 operation of the Institution or when the Institution is determined by the
 Director to be in an unsafe or unsound condition. Any right of the parties that
 have already vested, however, shall not be affected by such action.

       (f) Any payments made to Executive pursuant to this Agreement, or
 otherwise, are subject to and conditioned upon compliance with 12 U.S.C. (S)
 1828(k) and any rules and regulations promulgated thereunder.

 10.  REINSTATEMENT OF BENEFITS UNDER SECTION 9(b).
      ---------------------------------------------

      In the event Executive is suspended and/or temporarily prohibited from
 participating in the conduct of the Institution's affairs by a notice described
 in Section 9(b) hereof (the "Notice") during the term of this Agreement and a
 Change of Control, as defined herein, occurs, the Institution will assume its
 obligation to pay and Executive will be entitled to receive all of the
 termination benefits provided for under Section 3 of this Agreement upon the
 Institution's receipt of a dismissal of charges in the Notice of Termination.


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  11.  SEVERABILITY.
       ------------

       If, for any reason, any provision of this Agreement, or any part of any
  provision, is held invalid, such invalidity shall not affect any other
  provision of this Agreement or any part of such provision not held so invalid,
  and each such other provision and part thereof shall to the full extent
  consistent with law continue in full force and effect.


  12.  HEADINGS FOR REFERENCE ONLY.
       ---------------------------

       The hearings of sections and paragraphs herein are included solely for
  convenience of reference and shall not control the meaning or interpretation
  of any of the provisions of this Agreement. In addition, references to the
  masculine shall apply equally to the feminine.

  13.  GOVERNING LAW.
       -------------

       The validity, interpretation, performance, and enforcement of this
  Agreement shall be governed by the laws of the State of Delaware but only to
  the extent not preempted by Federal law.

  14.  ARBITRATION.
       -----------

       Any dispute or controversy arising under or in connection with this
  Agreement shall be settled exclusively by arbitration, conducted before a
  panel of three arbitrators sitting in a location selected by Executive within
  fifty (50) miles from the location of the Institution's main office, in
  accordance with the rules of the American Arbitration Association then in
  effect. Judgment may be entered on the arbitrator's award in any court having
  jurisdiction; provided, however, that Executive shall be entitled to seek
  specific performance of his right to be paid until the Date of Termination
  during the pendency of any dispute or controversy arising under or in
  connection with this Agreement.

  15.  PAYMENT OF COSTS AND LEGAL FEES.
       -------------------------------

       All reasonable costs and legal fees paid or incurred by Executive
  pursuant to any dispute or question of interpretation relating to this
  Agreement shall be paid or reimbursed by the Institution (which payments are
  guaranteed by the Holding Company pursuant to Section 5 hereof) if Executive
  is successful on the merits pursuant to a legal judgment, arbitration or
  settlement.



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  16.  INDEMNIFICATION.
       ---------------

       The Institution shall provide Executive (including his or her legal
  representatives, successors and assigns) with coverage under a standard
  directors' and officers' liability insurance policy at its expense, or in lieu
  thereof, shall indemnify Executive (including his or her legal
  representatives, successors and assigns) for reasonable costs and expenses
  incurred by Executive in defending or settling any judicial or administrative
  proceeding, or threatened proceeding, whether civil, criminal or otherwise,
  including any appeal or other proceeding for review.

       Indemnification by the Institution shall be made only upon the final
  judgment on the merits in the favor of Executive, in case of settlement, in
  case of final judgment against Executive or in the case of final judgment in
  favor of Executive other than on the merits, if a majority of the
  disinterested directors of the Institution determine Executive was acting in
  good faith within the scope of Executive's employment or authority in
  accordance with 12 C.F.R. section 545.121(c)(iii).

       Any such indemnification of Executive must conform with the notice
 provisions of 12 C.F.R. Section 545.121(c)(iii) to indemnify Executive to the
 fullest for such expenses and liabilities to include, but not be limited to,
 judgments, court costs and attorneys' fees and the cost of reasonable
 settlements, such settlements to be approved by the Board of Directors of the
 Institution, if such action is brought against Executive in his or her capacity
 as a officer or director of the Institution, however, shall not extend to
 matters as to which Executive is finally adjudged to be liable for willful
 misconduct in the performance of his or her duties.

  17.  SUCCESSOR TO THE INSTITUTION.
       ----------------------------

       The Institution shall require any successor or assignee, whether direct
 or indirect, by purchase, merger, consolidation or otherwise, to all or
 substantially all the business or assets of the Institution, expressly and
 unconditionally to assume and agree to perform the Institution's obligations
 under this Agreement, in the same mariner and to the same extent that the
 Institution would be required to perform if no such succession or assignment
 had taken place.


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                                   SIGNATURE

        IN WITNESS WHEREOF, Great American Federal Savings and Loan Association
and GA Financial, Inc. have caused this Agreement to be executed by their duly
authorized officers, and Executive has signed this Agreement, on the 20th day of
April, 1998.


ATTEST:                                GREAT AMERICAN FEDERAL SAVINGS
                                           AND LOAN ASSOCIATION

/s/ Lawrence A. Michael             By:  /s/ John M. Kish
--------------------------              -------------------------------
Lawrence A. Michael                     John M. Kish
Secretary                               Chief Executive Officer



SEAL



ATTEST:                                GA FINANCIAL, INC.
                                           (Guarantor)

/s/ Lawrence A. Michael             By:  /s/ John M. Kish
--------------------------              -------------------------------
Lawrence A. Michael                     John M. Kish
Secretary                               Chairman of the Board and
                                        Chief Executive Officer



SEAL



WITNESS:


/s/ Lawrence A. Michael             By:  /s/ Todd L. Cover
--------------------------              -------------------------------
Lawrence A. Michael                     Todd L. Cover
                                        Executive


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