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                      MILTON FEDERAL FINANCIAL CORPORATION
                                EXHIBIT NO. 10.2

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                              EMPLOYMENT AGREEMENT
                              --------------------

         THIS EMPLOYMENT AGREEMENT (hereinafter referred to as this
"AGREEMENT"), entered into this 29TH day of NOVEMBER, 1995, by and between
Milton Federal Financial Corporation, a savings and loan holding company
incorporated under Ohio law (hereinafter referred to as "MFFC"), Milton Federal
Savings Bank, a savings bank incorporated under Ohio law and a wholly-owned
subsidiary MFFC (hereinafter referred to as "MILTON FEDERAL"), and Thomas P.
Eyer, an individual (hereinafter referred to as the "EMPLOYEE");

                                   WITNESSETH:

         WHEREAS, the EMPLOYEE is an employee of MFFC and MILTON FEDERAL
(hereinafter collectively referred to as the "EMPLOYERS");

         WHEREAS, as a result of the skill, knowledge and experience of the
EMPLOYEE, the Boards of Directors of the EMPLOYERS desire to retain the services
of the EMPLOYEE as the Treasurer of MFFC and the Treasurer, Senior Vice
President/Financial Operations and Chief Financial Officer of MILTON FEDERAL;

         WHEREAS, the EMPLOYEE desires to continue to serve as the Treasurer of
MFFC and the Treasurer, Senior Vice President/Financial Operations and Chief
Financial Officer of MILTON FEDERAL; and

         WHEREAS, the EMPLOYEE and the EMPLOYERS desire to enter into this
Agreement to set forth the terms and conditions of the employment relationship
between the EMPLOYERS and the EMPLOYEE;

         NOW, THEREFORE, in consideration of the premises and mutual covenants
herein contained, the EMPLOYERS and the EMPLOYEE hereby agree as follows:


         Section 1.  Employment and Term.
                     --------------------

         Upon the terms and subject to the conditions of this AGREEMENT, the
EMPLOYERS hereby employ the EMPLOYEE, and the EMPLOYEE hereby accepts
employment, as the Treasurer, Senior Vice President/Financial Operations and
Chief Financial Officer of MILTON FEDERAL. The term of this AGREEMENT shall
commence on the date hereof and shall end on NOVEMBER 28, 1998 (hereinafter
referred to as the "TERM"). In December of each year, the Boards of Directors of
the EMPLOYERS shall review the EMPLOYEE's performance and record the results of
such review in the minutes of the Board of Directors.




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         Section 2.  Duties of EMPLOYEE.
                     -------------------

         (a) GENERAL DUTIES AND RESPONSIBILITIES. As the Treasurer of MFFC and
the Treasurer, Senior Vice President/Financial Operations and Chief Financial
Officer of MILTON FEDERAL, the EMPLOYEE shall perform the duties and
responsibilities customary for such offices to the best of his ability and in
accordance with the policies established by the Boards of Directors of the
EMPLOYERS and all applicable laws and regulations. The EMPLOYEE shall perform
such other duties not inconsistent with his position as may be assigned to him
from time to time by the Boards of Directors of the EMPLOYERS; provided,
however, that the EMPLOYERS shall employ the EMPLOYEE during the TERM in a
senior executive capacity without material diminishment of the importance or
prestige of his position.

         (b) DEVOTION OF ENTIRE TIME TO THE BUSINESS OF THE EMPLOYERS. The
EMPLOYEE shall devote his entire productive time, ability and attention during
normal business hours throughout the TERM to the faithful performance of his
duties under this AGREEMENT. The EMPLOYEE shall not directly or indirectly
render any services of a business, commercial or professional nature to any
person or organization without the prior written consent of the Board of
Directors of the EMPLOYERS; provided, however, that the EMPLOYEE shall not be
precluded from (i) vacations and other leave time in accordance with Section
3(e) hereof; (ii) reasonable participation in community, civic, charitable or
similar organizations; or (iii) the pursuit of personal investments which do not
interfere or conflict with the performance of the EMPLOYEE's duties to the
EMPLOYERS.

         Section 3.  Compensation, Benefits and Reimbursements.
                     ------------------------------------------

         (a) SALARY. The EMPLOYEE shall receive during the TERM an annual salary
payable in equal installments not less often than monthly. The amount of such
annual salary shall be $59,000 until changed by the Board of Directors of the
EMPLOYERS in accordance with Section 3(b) of this AGREEMENT.

         (b) ANNUAL SALARY REVIEW. In December of each year throughout the TERM,
the annual salary of the EMPLOYEE shall be reviewed by the Boards of Directors
of the EMPLOYERS and shall be set, effective January 1 of the following year, at
an amount not less than $59,000, based upon the EMPLOYEE's individual
performance and the overall profitability and financial condition of the
EMPLOYERS (hereinafter referred to as the "ANNUAL REVIEW"). The results of the
ANNUAL REVIEW shall be reflected in the minutes of the Boards of Directors of
the EMPLOYERS.

         (c) EXPENSES. In addition to any compensation received under Section
3(a) or (b) of this AGREEMENT, the EMPLOYERS shall pay or reimburse the EMPLOYEE
for all reasonable travel, entertainment and miscellaneous expenses incurred in
connection with the performance of his duties under this AGREEMENT. Such
reimbursement shall be made in accordance with the existing policies and
procedures of the EMPLOYERS pertaining to reimbursement of expenses to senior
management officials.

         (d)  EMPLOYEE BENEFIT PROGRAM.

                  (i) During the TERM, the EMPLOYEE shall be entitled to
                  participate in all formally


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                  established employee benefit, bonus, pension and
                  profit-sharing plans and similar programs that are maintained
                  by the EMPLOYERS from time to time, including programs in
                  respect of group health, disability or life insurance, and all
                  employee benefit plans or programs hereafter adopted in
                  writing by the Boards of Directors of the EMPLOYERS, for which
                  senior management personnel are eligible, including any
                  employee stock ownership plan, stock option plan or other
                  stock benefit plan (hereinafter collectively referred to as
                  the "BENEFIT PLANS"). Notwithstanding the foregoing sentence,
                  the EMPLOYERS may discontinue or terminate at any time any
                  such BENEFIT PLANS, now existing or hereafter adopted, to the
                  extent permitted by the terms of such plans and shall not be
                  required to compensate the EMPLOYEE for such discontinuance or
                  termination.

                  (ii) After the expiration of the TERM or the termination of
                  the employment of the employee for any reason other than JUST
                  CAUSE (as defined hereinafter), the EMPLOYERS shall provide a
                  group health insurance program in which the EMPLOYEE and his
                  spouse will be eligible to participate and which shall provide
                  substantially the same benefits as are available to retired
                  employees of the EMPLOYERS on the date of this AGREEMENT until
                  both the EMPLOYEE and his spouse become 65 years of age;
                  provided, however that all premiums for such program shall be
                  paid by the EMPLOYEE and/or his spouse after the EMPLOYEE's
                  retirement; provided further, however, that the EMPLOYEE may
                  only participate in such program for as long as the EMPLOYERS
                  make available an employee group health insurance program
                  which permits the EMPLOYERS to make coverage available for
                  retirees.

         (e) VACATION AND SICK LEAVE. The EMPLOYEE shall be entitled, without
loss of pay, to be absent voluntarily from the performance of his duties under
this AGREEMENT, subject to the following conditions:

                  (i) The EMPLOYEE shall be entitled to an annual vacation in
                  accordance with the policies periodically established by the
                  Boards of Directors of the EMPLOYERS for senior management
                  officials of the EMPLOYERS, the duration of which shall not be
                  less than four weeks each calendar year;

                  (ii) Vacation time shall be scheduled by the EMPLOYEE in a
                  reasonable manner and shall be subject to approval by the
                  Boards of Directors of the EMPLOYERS. The EMPLOYEE shall not
                  be entitled to receive any additional compensation from the
                  EMPLOYERS in the event of his failure to take the full
                  allotment of vacation time in any calendar year; provided,
                  however, that a maximum of one week of unused vacation time in
                  any calendar year may be carried over into any succeeding
                  calendar year; and

                  (iii) The EMPLOYEE shall be entitled to annual sick leave as
                  established by the Boards of Directors of the EMPLOYERS for
                  senior management officials of the EMPLOYERS. In the event
                  that any sick leave time shall not have been used during any
                  calendar year, such leave shall accrue to subsequent calendar
                  years, only to the extent authorized by the Boards of
                  Directors of the EMPLOYERS. Upon termination of employment,
                  the EMPLOYEE shall not be entitled to receive any additional
                  compensation from the


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                  EMPLOYERS for unused sick leave.

         Section 4.  Termination of Employment.
                     --------------------------

         (a) GENERAL. In addition to the termination of the employment of the
EMPLOYEE upon the expiration of the TERM, the employment of the EMPLOYEE shall
terminate at any other time during the TERM upon the delivery by the EMPLOYERS
of written notice of employment termination to the EMPLOYEE. Without limiting
the generality of the foregoing sentence, the following subparagraphs (i), (ii)
and (iii) of this Section 4(a) shall govern the obligations of the EMPLOYERS to
the EMPLOYEE upon the occurrence of the events described in such subparagraphs:

                  (i) TERMINATION FOR JUST CAUSE. In the event that the
                  EMPLOYERS terminate the employment of the EMPLOYEE during the
                  TERM because of the EMPLOYEE's personal dishonest,
                  incompetence, willful misconduct, breach of fiduciary duty
                  involving personal profit, intentional failure or refusal to
                  perform the duties and responsibilities assigned in this
                  AGREEMENT, willful violation of any law, rule, regulation or
                  final cease-and-desist order (other than traffic violations or
                  similar offenses), conviction of a felony or for fraud or
                  embezzlement, or material breach of any provision of this
                  AGREEMENT (hereinafter collectively referred to as "JUST
                  CAUSE"), the EMPLOYEE shall not receive, and shall have no
                  right to receive, any compensation or other benefits for any
                  period after such termination.

                  (ii) TERMINATION AFTER CHANGE OF CONTROL. In the event that,
                  before the expiration of the TERM and in connection with or
                  within one year after a CHANGE OF CONTROL (as defined
                  hereinafter) of either one of the EMPLOYERS, (A) the
                  employment of the EMPLOYEE is terminated for any reason other
                  than JUST CAUSE before the expiration of the TERM, (B) the
                  present capacity or circumstances in which the EMPLOYEE is
                  employed are materially changed before the expiration of the
                  TERM, or (C) the EMPLOYEE's responsibilities, authority,
                  compensation or other benefits provided under this AGREEMENT
                  are materially reduced, then the following shall occur:

                           (I) The EMPLOYERS shall promptly pay to the EMPLOYEE
                           or to his beneficiaries, dependents or estate an
                           amount equal to the sum of (1) the amount of
                           compensation to which the EMPLOYEE would be entitled
                           for the remainder of the TERM under this AGREEMENT,
                           plus (2) the difference between (x) the product of
                           three, multiplied by the greater of the annual salary
                           set forth in Section 3(a) of this AGREEMENT or the
                           annual salary payable to the EMPLOYEE as a result of
                           any ANNUAL REVIEW, less (xx) the amount paid to the
                           EMPLOYEE pursuant to clause (1) of this subparagraph
                           (I); (II) The EMPLOYEE, his dependents, beneficiaries
                           and estate shall continue to be covered under all
                           BENEFIT PLANS of the EMPLOYERS at the EMPLOYERS'
                           expense as if the EMPLOYEE were still employed under
                           this AGREEMENT until the earliest of the expiration
                           of the TERM or the date on which the EMPLOYEE is
                           included in another employer's benefit plans as a
                           full-time employee; and

                           (III) The EMPLOYEE shall not be required to mitigate
                           the amount of any


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                           payment provided for in this AGREEMENT by seeking
                           other employment or otherwise, nor shall any amounts
                           received from other employment or otherwise by the
                           EMPLOYEE offset in any manner the obligations of the
                           EMPLOYERS hereunder, except as specifically stated in
                           subparagraph (II).

                  In the event that payments pursuant to this subsection (ii)
                  would result in the imposition of a penalty tax pursuant to
                  Section 280G(b)(3) of the Internal Revenue Code of 1986, as
                  amended, and the regulations promulgated thereunder
                  (hereinafter collectively referred to as "SECTION 280G"), such
                  payments shall be reduced to the maximum amount which may be
                  paid under SECTION 280G without exceeding such limits.
                  Payments pursuant to this subsection also may not exceed the
                  limit set forth in Regulatory Bulletin 27a of the Office of
                  Thrift Supervision.

                  (iii) TERMINATION WITHOUT CHANGE OF CONTROL. In the event that
                  the employment of the EMPLOYEE is terminated before the
                  expiration of the TERM other than (A) for JUST CAUSE or (B) in
                  connection with or within one year after a CHANGE OF CONTROL,
                  the EMPLOYERS shall be obligated to continue (1) to pay on a
                  monthly basis to the EMPLOYEE, his designated beneficiaries of
                  his estate, his annual salary provided pursuant to Section
                  3(a) or (b) of this AGREEMENT until the expiration of the TERM
                  and (2) to provide to the EMPLOYEE, at the EMPLOYERS' expense,
                  health, life, disability, and other benefits substantially
                  equal to those being provided to the EMPLOYEE at the date of
                  termination of his employment until the earliest to occur of
                  the expiration of the TERM or the date the EMPLOYEE becomes
                  employed full-time by another employer. In the event that
                  payments pursuant to this subsection (iii) would result in the
                  imposition of a penalty tax pursuant to SECTION 280G, such
                  payments shall be reduced to the maximum amount which may be
                  paid under SECTION 280G without exceeding those limits.
                  Payments pursuant to this subsection also may not exceed the
                  limit set forth in Regulatory Bulletin 27a of the Office of
                  Thrift Supervision.

         (b) DEATH OF THE EMPLOYEE. The TERM automatically terminates upon the
death of the EMPLOYEE. In the event of such death, the EMPLOYEE's estate shall
be entitled to receive the compensation due the EMPLOYEE through the last day of
the calendar month in which the death occurred, except as otherwise specified
herein.

         (c) "GOLDEN PARACHUTE" PROVISION. Any payments made to the EMPLOYEE
pursuant to this AGREEMENT or otherwise are subject to and conditioned upon
their compliance with 12 U.S.C. Paragraph 1828(k) and any regulations
promulgated thereunder.

         (d) DEFINITION OF "CHANGE OF CONTROL". A "CHANGE OF CONTROL" shall be
deemed to have occurred in the event that, at any time during the EMPLOYMENT
TERM, either any person or entity obtains "conclusive control" of the EMPLOYERS
within the meaning of 12 C.F.R. Paragraph 574.4(a), or any person or entity
obtains "rebuttable control" within the meaning of 12 C.F.R. Paragraph 574.4(b)
and has not rebutted control in accordance with 12 C.F.R. Paragraph 574.4(c).

         Section 5.  Special Regulatory Events.
                     --------------------------

Notwithstanding Section 4 of this AGREEMENT, the obligations of the EMPLOYERS to
the


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EMPLOYEE shall be as follows in the event of the following circumstances:

         (a) If the EMPLOYEE is suspended and/or temporarily prohibited from
participating in the conduct of MFFC's or MILTON FEDERAL's affairs by a notice
served under section 8(e)(3) or (g)(1) of the Federal Deposit Insurance Act
(hereinafter referred to as the "FDIA"), the EMPLOYERS' obligations under this
AGREEMENT shall be suspended as of the date of service of such notice, unless
stayed by appropriate proceedings. If the charges in the notice are dismissed,
the EMPLOYERS may, in their discretion, pay the EMPLOYEE all or part of the
compensation withheld while the obligations in this AGREEMENT were suspended and
reinstate, in whole or in part, any of the obligations that were suspended.

         (b) If the EMPLOYEE is removed and/or permanently prohibited from
participating in the conduct of MFFC's or MILTON FEDERAL's affairs by an order
issued under Section 8(e)(4) or (g)(1) of the FDIA, all obligations of the
EMPLOYERS under this AGREEMENT shall terminate as of the effective date of such
order; provided, however, that vested rights of the EMPLOYEE shall not be
affected by such termination.

         (c) If MILTON FEDERAL is in default as defined in section 3(x)(1) of
the FDIA, all obligations under this AGREEMENT shall terminate as of the date of
default; provided, however, that vested rights of the EMPLOYEE shall not be
affected.

         (d) All obligations under this AGREEMENT shall be terminated, except to
the extent of a determination that the continuation of this AGREEMENT is
necessary for the continued operation of the EMPLOYERS, (i) by the Director of
the Office of Thrift Supervision (hereinafter referred to as the "OTS"), or his
or her designee at the time that the Federal Deposit Insurance Corporation or
the Resolution Trust Corporation enters into an agreement to provide assistance
to or on behalf of MILTON FEDERAL under the authority contained in Section 13(c)
of the FDIA or (ii) by the Director of the OTS, or his or her designee, at any
time the Director of the OTS, or his or her designee, approves a supervisory
merger to resolve problems related to the operation of MILTON FEDERAL or when
MILTON FEDERAL is determined by the Director of the OTS to be in an unsafe or
unsound condition. No vested rights of the EMPLOYEE shall be affected by any
such action.

         Section 6.  Consolidation, Merger or Sale of Assets.
                     ----------------------------------------

Nothing in this AGREEMENT shall preclude the EMPLOYERS from consolidating with,
merging into, or transferring all, or substantially all, of their assets to
another corporation that assumes all of the EMPLOYERS' obligations and
undertakings hereunder. Upon such a consolidation, merger or transfer of assets,
the term "EMPLOYERS" as used herein, shall mean such other corporation or
entity, and this AGREEMENT shall continue in full force and effect.

     Section 7.  Confidential Information.
                 -------------------------

The EMPLOYEE acknowledges that during his employment he will learn and have
access to confidential information regarding the EMPLOYERS and their customers
and businesses. The EMPLOYEE agrees and covenants not to disclose or use for his
own benefit, or the benefit of any other person or entity, any confidential
information, unless or until the EMPLOYERS consent to such disclosure or use or
such information becomes common knowledge in the industry or is otherwise
legally in the public domain. The EMPLOYEE shall not knowingly disclose or
reveal to any


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unauthorized person any confidential information relating to the EMPLOYERS,
their subsidiaries or affiliates, or to any of the businesses operated by them,
and the EMPLOYEE confirms that such information constitutes the exclusive
property of the EMPLOYERS. The EMPLOYEE shall not otherwise knowingly act or
conduct himself (a) to the material detriment of the EMPLOYERS, their
subsidiaries, or affiliates, or (b) in a manner which is inimical or contrary to
the interests of the EMPLOYERS.

         Section 8.  Nonassignability.
                     -----------------

Neither this AGREEMENT nor any right or interest hereunder shall be assignable
by the EMPLOYEE, his beneficiaries, or legal representatives without the
EMPLOYERS' prior written consent; provided, however, that nothing in this
Section 8 shall preclude (a) the EMPLOYEE from designating a beneficiary to
receive any benefits payable hereunder upon his death, or (b) the executors,
administrators, or other legal representatives of the EMPLOYEE or his estate
from assigning any rights hereunder to the person or persons entitled thereto.

         Section 9.  No Attachment.
                     --------------

Except as required by law, no right to receive payment 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 of assignment by operation of law, and any attempt, voluntary
or involuntary, to effect any such action shall be null, void and of no effect.

         Section 10.  Binding Agreement.
                      ------------------

This AGREEMENT shall be binding upon, and inure to the benefit of, the EMPLOYEE
and the EMPLOYERS and their respective permitted successors and assigns.

         Section 11.  Amendment of Agreement.
                      -----------------------

This AGREEMENT may not be modified or amended, except by an instrument in
writing signed by the parties hereto.

         Section 12.  Waiver.
                      -------

No term or condition of this AGREEMENT shall be deemed to have been waived, nor
shall there be an 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 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 the act specifically
waived.

         Section 13.  Severability.
                      -------------

If, for any reason, any provision of this AGREEMENT is held invalid, such
invalidity shall not affect the other provisions of this AGREEMENT not held so
invalid, and each such other provision shall, to the full extent consistent with
applicable law, continue in full force and effect. If this AGREEMENT is held
invalid or cannot be enforced, then any prior AGREEMENT between the EMPLOYERS
(or any predecessor thereof) and the EMPLOYEE shall be deemed reinstated to the
full extent permitted by law, as if this AGREEMENT had not been executed.




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         Section 14.  Headings.
                      ---------

The headings of the 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.

         Section 15.  Governing Law.
                      --------------

This AGREEMENT has been executed and delivered in the State of Ohio and its
validity, interpretation, performance, and enforcement shall be governed by the
laws of this State of Ohio, except to the extent that federal law is governing.

         Section 16.  Effect of Prior Agreements.
                      ---------------------------

This AGREEMENT contains the entire understanding between the parties hereto and
supersedes any prior employment agreement between the EMPLOYERS or any
predecessors of the EMPLOYERS and the EMPLOYEE.

         Section 17.  Notices.
                      --------

Any notice or other communication required or permitted pursuant to this
AGREEMENT shall be deemed delivered if such notice or communication is in
writing and is delivered personally or by facsimile transmission or is deposited
in the United States mail, postage prepaid, addressed as follows:

         If to MFFC and/or MILTON FEDERAL:

                  Milton Federal Savings Bank
                  25 Lowry Drive
                  West Milton, OH  45383

         With copies to:

                  John C. Vorys, Esq.
                  Vorys, Sater, Seymour and Pease
                  Atrium Two, Suite 2100
                  221 East Fourth Street
                  Cincinnati, OH  45201-0236

         If to the EMPLOYEE to:

                  Mr. Thomas P. Eyer
                  4450 Valley Brook Drive
                  Englewood, OH  45322



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IN WITNESS WHEREOF, the EMPLOYERS have caused this AGREEMENT to be executed by
its duly authorized officer, and the EMPLOYEE has signed this AGREEMENT, each as
of the day and year first above written.


ATTEST:                                 MILTON FEDERAL FINANCIAL CORPORATION

_________________________                           By_________________________

                                                      _________________________

                                                   its_________________________

ATTEST:

_________________________                             _________________________



ATTEST                                  MILTON FEDERAL SAVINGS BANK

_________________________                           By_________________________

                                                      _________________________

                                                   its_________________________

ATTEST:

_________________________                             _________________________




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