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SCOTT A. KISTING - EMPLOYMENT AGREEMENT SUMMARY

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SUBJECT                        PROVISION
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<S>                            <C>
Term                           8/1/99 through 7/31/02; automatic one year renewals (subject to 45 days notice).
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Base Salary                    $800,000
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Executive Compensation         Participation in Executive Compensation  Plan, subject to the following:
                               Annual  bonus -  target  at 50% of  base  salary.
                               Stock  options - 100,000 GSB shares to be granted by 1/31/2000, 3 year vesting.
                                    (Note:  100,000 options have previously been granted in 1999.)
                               Restricted stock - 43,500 restricted GSB shares to be issued upon approval of
                               restricted stock plan agreement, one half vesting on  first  anniversary  of
                               the  date  of  grant, balance  on the  fourth  anniversary.
                               Long  term incentive cash payment - $4 million to be paid on 3/31/2003,
                               based on company  achieving  targeted average   ROE
                               and  net   income   goals   during  1998-2002.
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Fringe Benefits                Per company policies for an EVP.
                               Annual medical exam.
                               Five weeks PTO.
                               Luxury automobile.
                               One country club or social club.
                               Benefits  continue for  executive  and spouse for
                               three years following termination.
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Location                       San Francisco, CA, subject to reasonable travel requirements.
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Termination  for  Cause        Agreement   terminates  and  company  has  no  further
                               obligations.
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Termination for Disability     Disability means incapacitated for six consecutive months or 180 days in any 12
                               month period.  Executive receives 60% of base salary for balance of term and
                               medical benefits until age 70.
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Termination for Death          Executive receives 60% of base salary for balance of term.
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Termination w/o cause by       Good reason means:
company or for "good reason"   (a) change in duties responsibilities, or status w/o consent.
by Executive.                  (b) reduction in base salary.
                               (c) change in location, or failure to provide relocation
                                   assistance if employee agrees to move.
                               (d) discontinuation of benefits or compensation plan.
                               (e) failure of successor company to assume agreement.

                               Executive receives:
                               (a) in a lump sum  payment  three times base plus
                                   the higher of (i) current  year  target  bonus or
                                   (ii) the  average  of prior  three  years  actual
                                   bonuses.
                               (b) use of  automobile  for three years
                                   (or until reemployed).
                               (c) accelerated vesting of stock options and
                                   restricted stock (per plans).
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Termination upon a change of   24 month "reach in" period.
control.
                               Employee receives:
                               (a) lump sum payment of three times base salary plus the higher of (i) current
                                   year target  bonus or (ii) the average of prior 3
                                   years actual bonuses - capped at 280(g) limit.
                               (b) outplacement  services.
                               (c) cash in lieu of options.
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