CHANGE IN CONTROL SEVERANCE AGREEMENT

      THIS CHANGE IN CONTROL SEVERANCE AGREEMENT ("Agreement") entered into this
_______________, 2003 ("Effective Date"), by and between CHEVIOT SAVINGS BANK
("Association") and KEVIN KAPPA ("Employee").

      WHEREAS, Employee is currently employed by Association as the Compliance
Officer and is experienced in all phases of the business of Association; and

      WHEREAS, the parties desire by this writing to set forth the rights and
responsibilities of Association and Employee if Association should undergo a
change in control (as defined hereinafter in the Agreement) after the Effective
Date.

      NOW THEREFORE, it is agreed as follows:

1.    Employment. Employee is employed in the capacity as the Compliance Officer
      of Association. Employee will render such administrative and management
      services to Association and Cheviot Financial Corp. ("Parent") as are
      currently rendered and as are customarily performed by persons situated in
      a similar executive capacity. Employee will promote to the extent
      permitted by law the business of Association and Parent. Employee's other
      duties will be such as the Board of Directors for Association (the "Board
      of Directors" or "Board") may from time to time reasonably direct,
      including normal duties as an officer of Association.

2.    Terms of Agreement. The term of this Agreement will be for the period
      commencing on the Effective Date and ending thirty-six (36) months
      thereafter. Additionally, on, or before, each annual anniversary date from
      the Effective Date, the term of this Agreement will be extended for an
      additional one-year period beyond the then effective expiration date upon
      a determination and resolution of the Board of Directors that the
      performance of Employee has met the requirements and standards of the
      Board, and that the term of such Agreement will be extended.

3.    Termination of Employment in Connection with or Subsequent to a Change in
      Control.

      3.1   Involuntary Termination. Notwithstanding any provision herein to the
            contrary, in the event of the involuntary termination of Employee's
            employment under this Agreement, absent Just Cause, in connection
            with, or within twelve (12) months after, any change in control of
            Association or Parent, Employee will be paid an amount equal to two
            times the prior calendar year's cash compensation paid to Employee
            by Association (whether said amounts were received or deferred by
            Employee). Said sum will be paid, at the option of Employee, either
            in one (1) lump sum not later than the date of such termination of
            employment or in periodic payments over the next 24 months, and such
            payments will be in lieu of any other future payments which Employee
            would be otherwise entitled to receive. Notwithstanding the
            foregoing, all sums payable hereunder will be reduced in

<PAGE>

      such manner and to such extent so that no such payments made hereunder
      when aggregated with all other payments to be made to Employee by
      Association or the Parent will be deemed an "excess parachute payment" in
      accordance with Section 280G of the Internal Revenue Codes of 1986, as
      amended (the "Code"), and be subject to the excise tax provided at Section
      4999(a) of the Code. The term "control" will refer to the ownership,
      holding or power to vote more than 25% of the Parent's or Association's
      voting stock, the control of the election of a majority of the Parent's or
      Association's directors, or the exercise of a controlling influence over
      the management or policies of the Parent or Association by any person or
      by persons acting as a group within the meaning of Section 13(d) of the
      Securities Exchange Act of 1934. The term "person" means an individual
      other than Employee, or a corporation, partnership, trust, association,
      joint venture, pool, syndicate, sole proprietorship, unincorporated
      organization or any other form of entity not specifically listed herein.

      3.2   Voluntary Termination. Notwithstanding any other provision of this
            Agreement to the contrary, Employee may voluntarily terminate his
            employment under this Agreement within twelve (12) months following
            a change in control of Association or Parent, and Employee will
            thereupon be entitled to receive the payment described in Section
            3.1 of this Agreement, upon the occurrence, or within ninety (90)
            days thereafter, of any of the following events, which have not been
            consented to in advance by Employee in writing: (i) if Employee
            would be required to move his personal residence or perform his
            principal executive functions more than thirty-five (35) miles from
            Employee's primary office as of the signing of this Agreement; (ii)
            if in the organizational structure of Association or Parent,
            Employee would be required to report to a person or persons other
            than the President of Association or Parent; (iii) if Association or
            Parent should fail to maintain existing employee benefits plans,
            including material fringe benefit, stock option and retirement
            plans, except to the extent that such reduction in benefit programs
            is part of an overall adjustment in benefits for all employees of
            Association or Parent and does not disproportionately adversely
            impact Employee; (iv) if Employee would be assigned duties and
            responsibilities other than those normally associated with his
            position as referenced at Section 1, herein, for a period of more
            than six (6) months, or if such additional assigned duties and
            responsibilities result in additional cost to be incurred by
            Employee not otherwise associated with the previously assigned
            duties and responsibilities, which costs are not reimbursed by
            Association within forty-five (45) days of being incurred; or (v) if
            Employee's responsibilities or authority have in any way been
            materially diminished or reduced for a period of more than six (6)
            months.

      3.3   Arbitration. Any controversy or claim arising out of or relating to
            this Agreement, or the breach thereof, will be settled by
            arbitration in accordance with the rules then in effect of the
            district office of the American Arbitration Association ("AAA")
            nearest to the home office of Association, and judgment upon the
            award rendered may be entered in any court having jurisdiction
            thereof, except to the extent that the parties may otherwise reach a
            mutual settlement of such issue. Association will incur the cost of
            all fees and expenses associated


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            with filing a request for arbitration with the AAA, whether such
            filing is made on behalf of Association or Employee, and the costs
            and administrative fees associated with employing the arbitrator and
            related administrative expenses assessed by the AAA. Association
            will reimburse Employee for all costs and expenses, including
            reasonable attorneys' fees, arising from such dispute, proceedings
            or actions, notwithstanding the ultimate outcome thereof, following
            the delivery of the decision of the arbitrator finding in favor of
            Employee or settlement of the matter; provided that if such finding
            of the Arbitrator is not in favor of Employee, then such Employee
            will reimburse Association for the initial filing fee paid by
            Association to the AAA. Such settlement to be approved by the Board
            of Association or the Parent may include a provision for the
            reimbursement by Association or Parent to Employee for all costs and
            expenses, including reasonable attorneys' fees, arising from such
            dispute, proceedings or actions, or the Board of Association or the
            Parent may authorize such reimbursement of such costs and expenses
            by separate action upon a written action and determination of the
            Board. Such reimbursement will be paid within ten (10) days of
            Employee furnishing to Association or Parent evidence, which may be
            in the form, among other things, of a canceled check or receipt, of
            any costs or expenses incurred by Employee.

4.    Other Changes in Employment Status.

      4.1   Except as provided for at Section 3, herein, the Board of Directors
            may terminate Employee's employment at any time, but any termination
            by the Board of Directors other than termination for Just Cause,
            will not prejudice Employee's right to compensation or other
            benefits under the Agreement. Employee will have no right to receive
            compensation or other benefits for any period after termination for
            Just Cause. Termination for "Just Cause" will include termination
            because of Employee's personal dishonesty, incompetence, willful
            conduct, 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 the Agreement.

      4.2   If Employee is removed and/or permanently prohibited from
            participating in the conduct of Association's affairs by an order
            issued under Sections 8(e)(4) or 8(g)(l) of the Federal Deposit
            Insurance Act ("FDIA") (12 U.S.C. 1818(e)(4) and (g)(1)), all
            obligations of Association under this Agreement will terminate, as
            of the effective date of the order, but the vested rights of the
            parties will not be affected.

      4.3   If this Association is in default (as defined in Section 3(x)(l) of
            FDIA), all obligations under this Agreement will terminate as of the
            date of default, but this Section will not affect any vested rights
            of the contracting parties.

      4.4   All obligations under this Agreement will be terminated, except to
            the extent determined that continuation of this Agreement is
            necessary for the continued


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            operation of Association: (i) by the Director of the Office of
            Thrift Supervision ("Director of OTS") or his or her designee, at
            the time that the Federal Deposit Insurance Corporation ("FDIC")
            enters into an agreement to provide assistance to or on behalf of
            Association under the authority continued in Section 13(c) of FDIA;
            or (ii) by the Director of the OTS, or his or her designee, at the
            time that the Director of the OTS, or his or her designee approves a
            supervisory merger to resolve problems related to operation of
            Association or when Association is determined by the Director of the
            OTS to be in an unsafe or unsound condition. Any rights of the
            parties that have already vested, however, will not be affected by
            such action.

      4.5   Notwithstanding anything herein to the contrary, any payments made
            to Employee pursuant to the Agreement, or otherwise, will be subject
            to and conditioned upon compliance with 12 U.S.C. s.1828(k) and any
            regulations promulgated thereunder.

5.    Suspension of Employment. If Employee is suspended and/or temporarily
      prohibited from participating in the conduct of Association's affairs by a
      notice served under Section 8(e)(3) or (g)(1) of the FDIA (12 U.S.C. 1818
      (e)(3) and (g)(1)), Association's obligations under the Agreement will be
      suspended as of the date of service, unless stayed by appropriate
      proceedings. If the charges in the notice are dismissed, Association will,
      (i) pay Employee all or part of the compensation withheld while its
      contract obligations were suspended, and (ii) reinstate any of its
      obligations which were suspended.

6.    Successors and Assigns.

      6.1   This Agreement will inure to the benefit of and be binding upon any
            corporate or other successor of Association which will acquire,
            directly or indirectly, by merger, consolidation, purchase or
            otherwise, all or substantially all of the assets or stock of
            Association.

      6.2   Employee will be precluded from assigning or delegating his rights
            or duties hereunder without first obtaining the written consent of
            Association.

7.    Amendments. No amendments or additions to this Agreement will be binding
      upon the parties hereto unless made in writing and signed by both parties,
      except as herein otherwise specifically provided.

8.    Applicable Law. This Agreement will be governed by all respects whether as
      to validity, construction, capacity, performance or otherwise, by the laws
      of the State of Ohio, except to the extent that Federal law will be deemed
      to apply.

9.    Severability. The provisions of this Agreement will be deemed severable
      and the invalidity or unenforceability of any provision will not affect
      the validity or enforceability of the other provisions hereof.


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10.   Entire Agreement. This Agreement together with any understanding or
      modifications thereof as agreed to in writing by the parties, will
      constitute the entire agreement between the parties hereto.

Signed as of _______________, 2003.

                                        ASSOCIATION:
                                        CHEVIOT SAVINGS BANK


                                        By:_____________________________________
                                           Thomas J. Linneman
                                           President and CEO


                                        EMPLOYEE:


                                        ________________________________________
                                        Kevin Kappa


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