<PAGE>


                                                                    EXHIBIT 10.6
                      ONE-YEAR CHANGE OF CONTROL AGREEMENT

                  This CHANGE OF CONTROL AGREEMENT (the "Agreement") is made and
entered into as of [______________], 2001 by and among WESTFIELD BANK, a savings
bank organized and operating under the laws of the Commonwealth of Massachusetts
having an office at 141 Elm Street, Westfield, Massachusetts 01085 (the "Bank"),
WESTFIELD FINANCIAL, INC., a business corporation organized and existing under
the laws of the Commonwealth of Massachusetts and having an office at 141 Elm
Street, Westfield, Massachusetts 01085 (the "Company") and
[__________________________] (the "Officer").

                             INTRODUCTORY STATEMENT

                  The Bank is undergoing a reorganization through which the Bank
will become the wholly owned subsidiary of the Company, and the Company will
sell its outstanding common stock to the public and Westfield Mutual Holding
Company in an initial public offering (the "Reorganization"). The Officer has
served the Bank in an executive capacity for many years and is familiar with the
Bank's operations.

                  The Board of Directors of the Bank has concluded that it is in
the best interests of the Bank, the Company and their prospective shareholders
to establish a working environment for the Officer which minimizes the personal
distractions that might result from possible business combinations in which the
Company or the Bank might be involved following the Reorganization. To this end,
the Bank has decided to provide the Officer with assurance that his compensation
will be continued for a minimum period of one (1) year following termination of
employment (the "Assurance Period") if his employment terminates under specified
circumstances related to a business combination. The Board of Directors of the
Bank has decided to formalize this assurance by entering into this Change of
Control Agreement with the Officer. The Board of Directors of the Company has
authorized the Company to guarantee the Bank's obligations under this Agreement.

                  The terms and conditions which the Bank, the Company and the
Officer have agreed to are as follows.

                                    AGREEMENT

                    Section 1. Effective Date; Term; Change of Control and
                    Pending Change of Control Defined.
                    ------------------------------------------------------

                  (a) This Agreement shall take effect on the effective date of
the Reorganization (the "Effective Date") and shall be in effect during the
period (the "Term") beginning on the Effective Date of the Reorganization and
ending on the first anniversary of the date on which the Bank notifies the
Executive of its intent to discontinue the Agreement (the "Initial Expiration
Date") or, if later, the first anniversary of the latest Change of Control or
Pending Change of Control, as defined below, that occurs after the Effective
Date and before the Initial Expiration Date.

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                                       -2-


                  (b) For all purposes of this Agreement, a "Change of Control"
shall be deemed to have occurred upon the happening of any of the following
events:

                  (i) the consummation of a reorganization, merger or
         consolidation of the Company with one or more other persons, other than
         a transaction following which:

                           (A) at least 51% of the equity ownership interests of
                  the entity resulting from such transaction are beneficially
                  owned (within the meaning of Rule 13d-3 promulgated under the
                  Securities Exchange Act of 1934, as amended ("Exchange Act"))
                  in substantially the same relative proportions by persons who,
                  immediately prior to such transaction, beneficially owned
                  (within the meaning of Rule 13d-3 promulgated under the
                  Exchange Act) at least 51% of the outstanding equity ownership
                  interests in the Company; and

                           (B) at least 51% of the securities entitled to vote
                  generally in the election of directors of the entity resulting
                  from such transaction are beneficially owned (within the
                  meaning of Rule 13d-3 promulgated under the Exchange Act) in
                  substantially the same relative proportions by persons who,
                  immediately prior to such transaction, beneficially owned
                  (within the meaning of Rule 13d-3 promulgated under the
                  Exchange Act) at least 51% of the securities entitled to vote
                  generally in the election of directors of the Company;

                  (ii) the acquisition of all or substantially all of the assets
         of the Company or beneficial ownership (within the meaning of Rule
         13d-3 promulgated under the Exchange Act) of 25% or more of the
         outstanding securities of the Company entitled to vote generally in the
         election of directors by any person or by any persons acting in
         concert;

                  (iii)    a complete liquidation or dissolution of the Company;

                  (iv) the occurrence of any event if, immediately following
         such event, at least 50% of the members of the Board of Directors of
         the Company do not belong to any of the following groups:

                           (A)      individuals  who were members of the Board
                  of Directors of the Company on the date of this
                  Agreement; or

                           (B) individuals who first became members of the Board
                  of Directors of the Company after the date of this Agreement
                  either:

                                    (1) upon election to serve as a member of
                           the Board of Directors of the Company by affirmative
                           vote of three-quarters of the members of such board,
                           or of a nominating committee thereof, in office at
                           the time of such first election; or

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                                       -3-


                                    (2) upon election by the shareholders of the
                           Board of Directors of the Company to serve as a
                           member of such board, but only if nominated for
                           election by affirmative vote of three-quarters of the
                           members of the Board of Directors of the Company, or
                           of a nominating committee thereof, in office at the
                           time of such first nomination;

                  provided, however, that such individual's election or
                  nomination did not result from an actual or threatened
                  election contest (within the meaning of Rule 14a-11 of
                  Regulation 14A promulgated under the Exchange Act) or other
                  actual or threatened solicitation of proxies or consents
                  (within the meaning of Rule 14a-11 of Regulation 14A
                  promulgated under the Exchange Act) other than by or on behalf
                  of the Board of Directors of the Company; provided, however,
                  that this section 1(b)(iv) shall only apply if the Company is
                  not majority owned by Westfield Mutual Holding Company; or

                  (v) any event which would be described in section 1(b)(i),
         (ii), (iii) or (iv) if the term "Bank" were substituted for the term
         "Company" therein.

In no event, however, shall a Change of Control be deemed to have occurred as a
result of (i) any acquisition of securities or assets of the Company, the Bank,
or a subsidiary of either of them, by the Company, the Bank, or any subsidiary
of either of them, or by any employee benefit plan maintained by any of them or
(ii) the conversion of Westfield Mutual Holding Company to a stock form company
and the issuance of additional shares of the Company in connection therewith.
For purposes of this section 1(b), the term "person" shall have the meaning
assigned to it under sections 13(d)(3) or 14(d)(2) of the Exchange Act.

                  (c) For purposes of this Agreement, a "Pending Change of
Control" shall mean: (i) the signing of a definitive agreement for a transaction
which, if consummated, would result in a Change of Control; (ii) the
commencement of a tender offer which, if successful, would result in a Change of
Control; or (iii) the circulation of a proxy statement seeking proxies in
opposition to management in an election contest which, if successful, would
result in a Change of Control; provided, however, that the Change of Control
contemplated does, in fact, occur.

                  Section 2.     Discharge Prior to a Pending Change of Control.
                                 ----------------------------------------------

                  The Bank may discharge the Officer at any time prior to the
occurrence of a Pending Change of Control for any reason or for no reason. In
such event:

                  (a) The Bank shall pay to the Officer (or, in the event of his
death, his estate) his earned but unpaid compensation (including, without
limitation, salary and all other items which constitute wages under applicable
law) as of the date of his termination of employment. This payment shall be made
at the time and in the manner prescribed by law applicable to the payment of
wages but in no event later than 30 days after the date of the Officer's
termination of employment.

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                                       -4-


                  (b) The Bank shall provide the benefits, if any, due to the
Officer (or, in the event of his death, his estate, surviving dependents or his
designated beneficiaries) under the employee benefit plans and programs and
compensation plans and programs maintained for the benefit of the officers and
employees of the Bank. The time and manner of payment or other delivery of these
benefits and the recipients of such benefits shall be determined according to
the terms and conditions of the applicable plans and programs.

The payments and benefits described in sections 2(a) and (b) shall be referred
to in this Agreement as the "Standard Termination Entitlements."

                  Section 3. Termination of Employment Due to Death.
                             --------------------------------------

                  The Officer's employment with the Bank shall terminate,
automatically and without any further action on the part of any party to this
Agreement, on the date of the Officer's death. In such event, the Bank shall pay
and deliver to his estate and surviving dependents and beneficiaries, as
applicable, the Standard Termination Entitlements.

                  Section 4. Termination Due to Disability after Change of
                             Control or Pending Change of Control.
                             ---------------------------------------------


                  The Bank may terminate the Officer's employment during the
Term and after the occurrence of a Change of Control or a Pending Change of
Control upon a determination, by a majority vote of the members of the Board of
Directors of the Bank, acting in reliance on the written advice of a medical
professional acceptable to it, that the Officer is suffering from a physical or
mental impairment which, at the date of the determination, has prevented the
Officer from performing his assigned duties on a substantially full-time basis
for a period of at least one hundred and eighty (180) days during the period of
one (1) year ending with the date of the determination or is likely to result in
death or prevent the Officer from performing his assigned duties on a
substantially full-time basis for a period of at least one hundred and eighty
(180) days during the period of one (1) year beginning with the date of the
determination. In such event:

                  (a) The Bank shall pay and deliver to the Officer (or in the
event of his death before payment, to his estate and surviving dependents and
beneficiaries, as applicable) the Standard Termination Entitlements.

                  (b) In addition to the Standard Termination Entitlements, the
Bank shall continue to pay the Officer his base salary, at the annual rate in
effect for him immediately prior to the termination of his employment, during a
period ending on the earliest of: (i) the expiration of one hundred and eighty
(180) days after the date of termination of his employment; (ii) the date on
which long-term disability insurance benefits are first payable to him under any
long-term disability insurance plan covering employees of the Bank (the "LTD
Eligibility Date"); (iii) the date of his death; and (iv) the expiration of the
Assurance Period (the "Initial Continuation Period"). If the end of the Initial
Continuation Period is neither the LTD Eligibility Date nor the date of his
death, the

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                                       -5-


Bank shall continue to pay the Officer his base salary, at an annual rate
equal to sixty percent (60%) of the annual rate in effect for him immediately
prior to the termination of his employment, during an additional period ending
on the earliest of the LTD Eligibility Date, the date of his death and the
expiration of the Assurance Period.

A termination of employment due to disability under this section 4 shall be
effected by a notice of termination given to the Officer by the Bank and shall
take effect on the later of the effective date of termination specified in such
notice or the date on which the notice of termination is deemed given to the
Officer.

                  Section 5. Discharge with Cause after Change of Control or
                             Pending Change of Control.
                             -----------------------------------------------

                  (a) The Bank may terminate the Officer's employment with
"Cause" during the Term and after the occurrence of a Change of Control or
Pending Change of Control, but a termination shall be deemed to have occurred
with "Cause" only if:

                           (i) the Board of Directors of the Bank and the Board
                  of Directors of the Company, by separate majority votes of
                  their entire membership, determine that the Executive should
                  be discharged because of personal dishonesty, incompetence,
                  willful misconduct, 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 any material breach of this Agreement; and

                           (ii) at least forty-five (45) days prior to the vote
                  contemplated by section 1(b)(i), the Bank has provided the
                  Officer with notice of its intent to discharge the Officer for
                  Cause, detailing with particularity the facts and
                  circumstances which are alleged to constitute Cause (the
                  "Notice of Intent to Discharge"); and

                           (iii) after the giving of the Notice of Intent to
                  Discharge and before the taking of the vote contemplated by
                  section 5(a)(i), the Officer (together with his legal counsel,
                  if he so desires) is afforded a reasonable opportunity to make
                  both written and oral presentations before the Board of
                  Directors of the Bank for the purpose of refuting the alleged
                  grounds for Cause for his discharge; and

                           (iv) after the vote contemplated by section 5(a)(i),
                  the Bank has furnished to the Officer a notice of termination
                  which shall specify the effective date of his termination of
                  employment (which shall in no event be earlier than the date
                  on which such notice is deemed given) and include a copy of a
                  resolution or resolutions adopted by the Board of Directors of
                  the

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                                       -6-


                  Bank, certified by its corporate secretary and signed by
                  each member of the Board of Directors voting in favor of
                  adoption of the resolution(s), authorizing the termination of
                  the Officer's employment with Cause and stating with
                  particularity the facts and circumstances found to constitute
                  Cause for his discharge (the "Final Discharge Notice").

                  (b) If the Officer is discharged with Cause during the Term
and after a Change of Control or Pending Change of Control, the Bank shall pay
and provide to him (or, in the event of his death, to his estate, his surviving
beneficiaries and his dependents) the Standard Termination Entitlements only.
Following the giving of a Notice of Intent to Discharge, the Bank may
temporarily suspend the Officer's duties and authority and, in such event, may
also suspend the payment of salary and other cash compensation, but not the
Officer's participation in retirement, insurance and other employee benefit
plans. If the Officer is not discharged, or is discharged without Cause, within
forty-five (45) days after the giving of a Notice of Intent to Discharge,
payments of salary and cash compensation shall resume, and all payments withheld
during the period of suspension shall be promptly restored. If the Officer is
discharged with Cause not later than forty-five (45) days after the giving of
the Notice of Intent to Discharge, all payments withheld during the period of
suspension shall be deemed forfeited and shall not be included in the Standard
Termination Entitlements. If a Final Discharge Notice is given later than
forty-five (45) days, but sooner than ninety (90) days, after the giving of the
Notice of Intent to Discharge, all payments made to the Officer during the
period beginning with the giving of the Notice of Intent to Discharge and ending
with the Officer's discharge with Cause shall be retained by the Officer and
shall not be applied to offset the Standard Termination Entitlements. If the
Bank does not give a Final Discharge Notice to the Officer within ninety (90)
days after giving a Notice of Intent to Discharge, the Notice of Intent to
Discharge shall be deemed withdrawn and any future action to discharge the
Officer with Cause shall require the giving of a new Notice of Intent to
Discharge.

                  Section 6.        Discharge without Cause.
                                    -----------------------

                  The Bank may discharge the Officer without Cause at any time
after the occurrence of a Change of Control or Pending Change of Control, and in
such event:

                  (a) The Bank shall pay and deliver to the Officer (or in the
event of his death before payment, to his estate and surviving dependents and
beneficiaries, as applicable) the Standard Termination Entitlements.

                  (b) In addition to the Standard Termination Entitlements:


                      (i) During the Assurance Period, the Bank shall
                  provide for the Officer and his dependents continued group
                  life, health (including hospitalization, medical and major
                  medical), dental, accident and long-term disability insurance
                  benefits on substantially the same terms and conditions
                  (including any required premium-sharing arrangements,
                  co-payments and deductibles) in effect for them immediately
                  prior to the Officer's resignation. The

<PAGE>
                                       -7-


                    coverage provided under this section 6(b)(i) may, at
                    the election of the Bank, be secondary to the coverage
                    provided as part of the Standard Termination Entitlements
                    and to any employer-paid coverage provided by a subsequent
                    employer or through Medicare, with the result that benefits
                    under the other coverages will offset the coverage required
                    by this section 6(b)(i).

                         (ii)  The Bank shall make a lump sum payment to the
                    Executive (or, in the event of his death before payment, to
                    his estate), in an amount equal to the estimated present
                    value of the salary that Executive would have earned if he
                    had continued working for the Bank during the Assurance
                    Period at the highest annual rate of salary achieved during
                    that portion of the employment period which is prior to
                    Executive's termination of employment with the Bank, where
                    such present value is to be determined using a discount rate
                    equal to the applicable short-term federal rate prescribed
                    under section 1274(d) of the Internal Revenue Code of 1986
                    ("Code"), compounded using the compounding period
                    corresponding to the Bank's regular payroll periods for its
                    officers. Such lump sum shall be paid in lieu of all other
                    payments of salary provided for under this Agreement in
                    respect of the period following any such termination.

                         (iii) The Bank shall make a lump sum payment to the
                    Executive (or, in the event of his death before payment, to
                    his estate), in an amount equal to the payments that would
                    have been made to Executive under any cash bonus or
                    long-term or short-term cash incentive compensation plan
                    maintained by, or covering employees of, the Bank if he had
                    continued working for the Bank during the Assurance Period
                    and had earned the maximum bonus or incentive award in each
                    calendar year that ends during the Assurance Period, such
                    payment to be equal to the product of:

                         (iv)  the maximum percentage rate at which an award was
                    ever available to Executive under such incentive
                    compensation plan; multiplied by

                               (A) the salary that would have been paid to
                    Executive during each such calendar year at the highest
                    annual rate of salary achieved during that portion of the
                    employment period which is prior to Executive's
                    termination of employment with the Bank.

         Such payment shall be made (without discounting for early payment)
         within thirty (30) days following the Executive's termination of
         employment.

The payments and benefits described in section 6(b) are referred to in this
Agreement as the "Additional Change of Control Entitlements".

<PAGE>
                                       -8-


                  Section 7.        Resignation.
                                    -----------

                  (a) The Officer may resign from his employment with the Bank
at any time. A resignation under this section 7 shall be effected by notice of
resignation given by the Officer to the Bank and shall take effect on the later
of the effective date of termination specified in such notice or the date on
which the notice of termination is deemed given to the Officer. The Officer's
resignation of any of the positions within the Bank or the Company to which he
has been assigned shall be deemed a resignation from all such positions.

                  (b) The Officer's resignation shall be deemed to be for "Good
Reason" if the effective date of resignation occurs during the Term, but on or
after the effective date of a Change of Control, and is on account of:

                  (i) the failure of the Bank (whether by act or omission of the
         Board of Directors, or otherwise) to appoint or re-appoint or elect or
         re-elect the Officer to the position with Bank that he held immediately
         prior to the Change of Control (the "Assigned Office") or to a more
         senior office;

                  (ii) a material failure by the Bank, whether by amendment of
         the certificate of incorporation or organization, by-laws, action of
         the Board of Directors of the Bank or otherwise, to vest in the Officer
         the functions, duties, or responsibilities customarily associated with
         the Assigned Office; provided that the Officer shall have given notice
         of such failure to the Bank, and the Bank has not fully cured such
         failure within thirty (30) days after such notice is deemed given;

                  (iii) any reduction of the Officer's rate of base salary in
         effect from time to time, whether or not material, or any failure
         (other than due to reasonable administrative error that is cured
         promptly upon notice) to pay any portion of the Officer's compensation
         as and when due;

                  (iv) any change in the terms and conditions of any
         compensation or benefit program in which the Officer participates
         which, either individually or together with other changes, has a
         material adverse effect on the aggregate value of his total
         compensation package; provided that the Officer shall have given notice
         of such material adverse effect to the Bank, and the Bank has not fully
         cured such material adverse effect within thirty (30) days after such
         notice is deemed given;

                  (v) any material breach by the Bank of any material term,
         condition or covenant contained in this Agreement; provided that the
         Officer shall have given notice of such material adverse effect to the
         Bank, and the Bank has not fully cured such material adverse effect
         within thirty (30) days after such notice is deemed given; or

<PAGE>
                                       -9-


                  (vi) a change in the  Officer's  principal  place of
          employment to a place that is not the principal executive office of
          the Bank, or a relocation of the Bank's principal executive office to
          a location that is both more than twenty-five (25) miles away from the
          Officer's principal residence and more than twenty-five (25) miles
          away from the location of the Bank's principal executive office on the
          day before the occurrence of the Change of Control.

In all other cases, a resignation by the Officer shall be deemed to be without
Good Reason. In the event of resignation, the Officer shall state in his notice
of resignation whether he considers his resignation to be a resignation with
Good Reason, and if he does, he shall state in such notice the grounds which
constitute Good Reason. The Officer's determination of the existence of Good
Reason shall be conclusive in the absence of fraud, bad faith or manifest error.

                  (c) In the event of the Officer's resignation for any reason,
the Bank shall pay and deliver the Standard Termination Entitlements. In the
event of the Officer's resignation with Good Reason, the Bank shall also pay and
deliver the Additional Termination Entitlements.

                  Section 8.  Terms and Conditions of the Additional
                              Termination Entitlements.
                              --------------------------------------

                  The Bank and the Officer hereby stipulate that the damages
which may be incurred by the Officer following any termination of employment are
not capable of accurate measurement as of the date first above written and that
the Additional Termination Entitlements constitute reasonable damages under the
circumstances and shall be payable without any requirement of proof of actual
damage and without regard to the Officer's efforts, if any, to mitigate damages.
The Bank and the Officer further agree that the Bank may condition the payment
and delivery of the Additional Termination Entitlements on the receipt of: (a)
the Officer's resignation from any and all positions which he holds as an
officer, director or committee member with respect to the Bank or the Company or
any subsidiary or affiliate of either of them; and (b) a release of the Bank and
its officers, directors, shareholders, subsidiaries and affiliates, in form and
substance satisfactory to the Bank, of any liability to the Officer, whether for
compensation or damages, in connection with his employment with the Bank and the
termination of such employment except for the Standard Termination Entitlements
and the Additional Termination Entitlements.

                  Section 9.  No Effect on Employee Benefit Plans or Programs.
                              -----------------------------------------------

                  The termination of the Officer's employment during the
Assurance Period or thereafter, whether by the Bank or by the Officer, shall
have no effect on the rights and obligations of the parties hereto under the
Bank's qualified or non-qualified retirement, pension, savings, thrift,
profit-sharing or stock bonus plans, group life, health (including
hospitalization, medical and major medical), dental, accident and long term
disability insurance plans or such other employee benefit plans or programs, or
compensation plans or programs, as may be maintained by, or cover employees of,
the Bank from time to time; provided, however, that nothing in this Agreement
shall be deemed

<PAGE>
                                      -10-


to duplicate any compensation or benefits provided under any agreement, plan or
program covering the Officer to which the Bank or Company is a party and any
duplicative amount payable under any such agreement, plan or program shall be
applied as an offset to reduce the amounts otherwise payable hereunder.

                  Section 10. Successors and Assigns.
                              ----------------------

                  This Agreement will inure to the benefit of and be binding
upon the Officer, his legal representatives and testate or intestate
distributees, and the Company and the Bank and their respective successors and
assigns, including any successor by merger or consolidation or a statutory
receiver or any other person or firm or corporation to which all or
substantially all of the assets and business of the Company or the Bank may be
sold or otherwise transferred. Failure of the Bank to obtain from any successor
its express written assumption of the Company's or Bank's obligations hereunder
at least 60 days in advance of the scheduled effective date of any such
succession shall, if such succession constitutes a Change of Control, constitute
Good Reason for the Officer's resignation on or at any time during the Term
following the occurrence of such succession.

                  Section 11. Notices.
                              -------

                  Any communication required or permitted to be given under this
Agreement, including any notice, direction, designation, consent, instruction,
objection or waiver, shall be in writing and shall be deemed to have been given
at such time as it is delivered personally, or five days after mailing if
mailed, postage prepaid, by registered or certified mail, return receipt
requested, addressed to such party at the address listed below or at such other
address as one such party may by written notice specify to the other party:

                  If to the Officer:

                           [Officer name]
                           [Officer address]
                           [Officer address]

                  If to the Company or the Bank:

                           Westfield Financial, Inc.
                           141 Elm Street
                           Westfield, MA  01085

                           Attention: Chairman, Compensation Committee
                                      of the Board of Directors

<PAGE>
                                      -11-


                  Section 12. Indemnification for Attorneys' Fees.
                              -----------------------------------

                  The Bank shall indemnify, hold harmless and defend the Officer
against reasonable costs, including legal fees, incurred by him in connection
with or arising out of any action, suit or proceeding in which he may be
involved, as a result of his efforts, in good faith, to defend or enforce the
terms of this Agreement; provided, however, that the Officer shall have
substantially prevailed on the merits pursuant to a judgment, decree or order of
a court of competent jurisdiction or of an arbitrator in an arbitration
proceeding. The determination whether the Officer shall have substantially
prevailed on the merits and is therefore entitled to such indemnification, shall
be made by the court or arbitrator, as applicable. In the event of a settlement
pursuant to a settlement agreement, any indemnification payment under this
section 12 shall be made only after a determination by the members of the Board
(other than the Officer and any other member of the Board to which the Officer
is related by blood or marriage) that the Officer has acted in good faith and
that such indemnification payment is in the best interests of the Bank.

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

                  A determination that any provision of this Agreement is
invalid or unenforceable shall not affect the validity or enforceability of any
other provision hereof.

                  Section 14. Waiver.
                              ------

                  Failure to insist upon strict compliance with any of the
terms, covenants or conditions hereof shall not be deemed a waiver of such term,
covenant, or condition. A waiver of any provision of this Agreement must be made
in writing, designated as a waiver, and signed by the party against whom its
enforcement is sought. Any waiver or relinquishment of any right or power
hereunder at any one or more times shall not be deemed a waiver or
relinquishment of such right or power at any other time or times.

                  Section 15. Counterparts.
                              ------------

                  This Agreement may be executed in two or more counterparts,
each of which shall be deemed an original, and all of which shall constitute one
and the same Agreement.

                  Section 16. Governing Law.
                              -------------

                  This Agreement shall be governed by and construed and enforced
in accordance with the federal laws of the United States and, to the extent that
federal law is inapplicable, in accordance with the laws of the Commonwealth of
Massachusetts applicable to contracts entered into and to be performed entirely
within the Commonwealth of Massachusetts.

<PAGE>
                                       -12-


                  Section 17. Headings and Construction.

                  The headings of sections in this Agreement are for convenience
of reference only and are not intended to qualify the meaning of any section.
Any reference to a section number shall refer to a section of this Agreement,
unless otherwise stated.

                  Section 18. Entire Agreement; Modifications.

                  This instrument contains the entire agreement of the parties
relating to the subject matter hereof, and supersedes in its entirety any and
all prior agreements, understandings or representations relating to the subject
matter hereof. No modifications of this Agreement shall be valid unless made in
writing and signed by the parties hereto.

                  Section 19. Required Regulatory Provisions.

                  The following provisions are included for the purposes of
complying with various laws, rules and regulations applicable to the Bank:

                  (a) Notwithstanding anything herein contained to the contrary,
in no event shall the aggregate amount of compensation payable to the Officer
hereunder exceed three times the Officer's average annual compensation (within
the meaning of OTS Regulatory Bulletin 27a or any successor thereto) for the
last five consecutive calendar years to end prior to his termination of
employment with the Bank (or for his entire period of employment with the Bank
if less than five calendar years). The compensation payable to the Officer
hereunder shall be further reduced (but not below zero) if such reduction would
avoid the assessment of excise taxes on excess parachute payments (within the
meaning of section 280G of the Code).

                  (b) Notwithstanding anything herein contained to the contrary,
any payments to the Officer by the Bank, whether pursuant to this Agreement or
otherwise, are subject to and conditioned upon their compliance with section
18(k) of the Federal Deposit Insurance Act ("FDI Act"), 12 U.S.C. `1828(k), and
any regulations promulgated thereunder.

                  (c) Notwithstanding anything herein contained to the contrary,
if the Officer is suspended from office and/or temporarily prohibited from
participating in the conduct of the affairs of the Bank pursuant to a notice
served under section 8(e)(3) or 8(g)(1) of the FDI Act, 12 U.S.C. `1818(e)(3) or
1818(g)(1), the Bank's 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 such notice are dismissed, the Bank, in its discretion, may (i)
pay to the Officer all or part of the compensation withheld while the Bank's
obligations hereunder were suspended and (ii) reinstate, in whole or in part,
any of the obligations which were suspended.

                  (d) Notwithstanding anything herein contained to the contrary,
if the Executive is removed and/or permanently prohibited from participating in
the conduct of the Bank's affairs by

<PAGE>
                                      -13-



an order issued under section 8(e)(4) or 8(g)(1) of the FDI Act, 12 U.S.C.
(S)1818(e)(4) or (g)(1), all prospective obligations of the Bank under this
Agreement shall terminate as of the effective date of the order, but vested
rights and obligations of the Bank and the Executive shall not be affected.

                  (e) Notwithstanding anything herein contained to the contrary,
if the Bank is in default (within the meaning of section 3(x)(1) of the FDI Act,
12 U.S.C. `1813(x)(1), all prospective obligations of the Bank under this
Agreement shall terminate as of the date of default, but vested rights and
obligations of the Bank and the Officer shall not be affected.

                  (f) Notwithstanding anything herein contained to the contrary,
all prospective obligations of the Bank hereunder shall be terminated, except to
the extent that a continuation of this Agreement is necessary for the continued
operation of the Bank: (i) by the Director of the OTS or his designee or the
Federal Deposit Insurance Corporation ("FDIC"), at the time the FDIC enters into
an agreement to provide assistance to or on behalf of the Bank under the
authority contained in section 13(c) of the FDI Act, 12 U.S.C. `1823(c); (ii) by
the Director of the OTS or his designee at the time such Director or designee
approves a supervisory merger to resolve problems related to the operation of
the Bank or when the Bank is determined by such Director to be in an unsafe or
unsound condition. The vested rights and obligations of the parties shall not be
affected.

                  If and to the extent that any of the foregoing provisions
shall cease to be required or by applicable law, rule or regulation, the same
shall become inoperative as though eliminated by formal amendment of this
Agreement.

                  Section 20. Guaranty.
                              --------

                  The Company hereby irrevocably and unconditionally guarantees
to the Officer the payment of all amounts, and the performance of all other
obligations, due from the Bank in accordance with the terms of this Agreement as
and when due without any requirement of presentment, demand of payment, protest
or notice of dishonor or nonpayment.

                  Section 21. Effective Date.
                              --------------

                  This Agreement shall become effective (the "Effective Date")
upon the later of the following two dates: (a) the effective date of the Bank's
conversion from a federally chartered mutual savings bank to a stock form
savings bank pursuant to the Reorganization or (b) the date the OTS advises the
Bank in writing that it either approves or has no objection to the terms and
conditions of this Agreement. The Bank, the Company and the Officer each hereby
acknowledge and agree that the terms of this Agreement shall have no force or
effect prior to such Effective Date.

<PAGE>
                                       -14-


                  IN WITNESS WHEREOF, the Bank and the Company have caused this
Agreement to be executed and the Officer has hereunto set his hand, all as of
the day and year first above written.

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<S>                                                          <C>


                                                              -----------------------------------------------------
                                                              [______________________]





                                                              WESTFIELD BANK

Attest:


By                                                            By
  ------------------------------------------                    ---------------------------------------------------
    Name:                                                         Name:
    Title:                                                        Title:

[Seal]



                                                              WESTFIELD FINANCIAL, INC.

Attest:


By                                                            By
  ------------------------------------------                    ---------------------------------------------------
    Name:                                                         Name:
    Title:                                                        Title:

[Seal]

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