Exhibit 10(4)

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

     This Agreement, made and dated as of December 17, 2002, by and between Owen
Community Bank, s.b., a federal savings bank ("Employer") and Gary M. Monnett, a
resident of Owen County, Indiana ("Employee").


                               W I T N E S S E T H
                               - - - - - - - - - -

     WHEREAS,  Employee is employed by Employer as its Executive  Vice President
and  Chief  Financial  Officer  and  has  made  valuable  contributions  to  the
profitability and financial strength of Employer;

     WHEREAS,  Employer  desires  to  encourage  Employee  to  continue  to make
valuable  contributions  to Employer's  business  operations  and not to seek or
accept employment elsewhere;

     WHEREAS,  Employee  desires to be assured of a secure minimum  compensation
from Employer for his services over a defined term;

     WHEREAS,  Employer desires to assure the continued  services of Employee on
behalf of Employer on an objective and impartial  basis and without  distraction
or  conflict  of  interest  in the event of an  attempt  by any person to obtain
control of Employer or Home  Financial  Bancorp  (the  "Holding  Company"),  the
Indiana  corporation which owns all of the issued and outstanding  capital stock
of Employer;

     WHEREAS,  Employer  recognizes that when faced with a proposal for a change
of control of Employer or the Holding Company,  Employee will have a significant
role in helping the Boards of  Directors  assess the options  and  advising  the
Boards of  Directors on what is in the best  interests of Employer,  the Holding
Company,  and its  shareholders,  and it is necessary for Employee to be able to
provide this advice and counsel without being influenced by the uncertainties of
his own situation;

     WHEREAS,  Employer  desires  to provide  fair and  reasonable  benefits  to
Employee on the terms and subject to the conditions set forth in this Agreement;

     WHEREAS,   Employer  desires  reasonable  protection  of  its  confidential
business  and  customer  information  which it has  developed  over the years at
substantial  expense and assurance  that Employee will not compete with Employer
for a  reasonable  period  of time  after  termination  of his  employment  with
Employer, except as otherwise provided herein.

     NOW,  THEREFORE,  in consideration of these premises,  the mutual covenants
and undertakings  herein  contained and the continued  employment of Employee by
Employer as its Executive Vice President and Chief Financial  Officer,  Employer
and Employee, each intending to be legally bound, covenant and agree as follows:

     1.  Upon  the  terms  and  subject  to the  conditions  set  forth  in this
Agreement,  Employer employs Employee as Employer's Executive Vice President and
Chief Financial Officer, and Employee accepts such employment.

     2. Employee  agrees to serve as  Employer's  Executive  Vice  President and
Chief  Financial  Officer  and to  perform  such  duties  in that  office as may
reasonably  be  assigned  to him by  Employer's  Board of  Directors;  provided,
however,  that such duties shall be performed in or from the offices of Employer
currently  located at Spencer,  Indiana,  and shall be of the same  character as
those previously  performed by Employee and generally associated with the office
held by Employee.  Employee shall not be required to be absent from the location
of the  principal  executive  offices of Employer on travel  status or otherwise
more than 45 days in any calendar year.  Employer shall not, without the written
consent of Employee,  relocate or transfer  Employee to a location  more than 30
miles from his principal  residence.  Employee shall render services to Employer
as Executive Vice President and Chief  Financial  Officer in  substantially  the
same  manner and to  substantially  the same  extent as  Employee  rendered  his
services  to  Employer  before the date  hereof.  While  employed  by  Employer,
Employee  shall  devote  substantially  all his  business  time and  efforts  to
Employer's  business  during regular  business hours and shall not engage in any
other related business.

     3.  The term of this  Agreement  shall  begin on  December  17,  2002  (the
"Effective Date"), and shall end on the date which is three years following such
date; provided,  however, that such term shall be extended  automatically for an
additional year on each anniversary of the Effective Date if Employer's Board of
Directors  determines  by  resolution  to extend  this  Agreement  prior to such
anniversary  of the  Effective  Date,  unless  either party hereto gives written
notice to the other party not to so extend within ninety (90) days prior to such
anniversary,  in which case no further  automatic  extension shall occur and the
term of this Agreement  shall end two years  subsequent to the anniversary as of
which the notice  not to extend  for an  additional  year is given  (such  term,
including  any  extension  thereof  shall  herein be referred to as the "Term").
Notwithstanding the foregoing, this Agreement shall automatically terminate (and
the Term of this  Agreement  shall  thereupon  end) without notice when Employee
attains 65 years of age.

     4.  Employee  shall  receive  an  annual  salary of  ______________  ("Base
Compensation") payable at regular intervals in accordance with Employer's normal
payroll practices now or hereafter in effect.  Employer may consider and declare
from time to time increases in the salary it pays Employee and thereby increases
in his Base  Compensation.  Prior  to a Change  of  Control,  Employer  may also
declare  decreases in the salary it pays  Employee if the  operating  results of
Employer are significantly  less favorable than those for the fiscal year ending
June 30, 2002,  and Employer  makes  similar  decreases in the salary it pays to
other executive officers of Employer. After a Change in Control,  Employer shall
consider and declare salary increases based upon the following standards:

     Inflation;

     Adjustments to the salaries of other senior management personnel; and

     Past performance of Employee and the  contribution  which Employee makes to
     the business and profits of Employer during the Term.

Any and all increases or decreases in Employee's salary pursuant to this section
shall cause the level of Base  Compensation  to be increased or decreased by the
amount of each such  increase or decrease  for purposes of this  Agreement.  The
increased or decreased  level of Base  Compensation  as provided in this section
shall  become the level of Base  Compensation  for the  remainder of the Term of
this  Agreement  until  there  is  a  further   increase  or  decrease  in  Base
Compensation as provided herein.

     5. So long as Employee is employed by Employer  pursuant to this Agreement,
he shall be  included  as a  participant  in all  present  and  future  employee
benefit,  retirement, and compensation plans generally available to employees of
Employer,  consistent with his Base  Compensation  and his position as Executive
Vice  President  and Chief  Financial  Officer of Employer,  including,  without
limitation, Employer's or the Holding Company's pension plan, 401(k) Plan, Stock
Option Plan,  Recognition and Retention Plan and Trust, Employee Stock Ownership
Plan,  and  hospitalization,  major medical,  dental,  disability and group life
insurance plans, each of which Employer agrees to continue in effect on terms no
less  favorable  than  those  currently  in  effect  as of the date  hereof  (as
permitted by law) during the Term of this Agreement  unless prior to a Change of
Control the operating results of Employer are significantly  less favorable than
those for the fiscal year ending June 30,  2002,  and unless  (either  before or
after a Change of Control) changes in the accounting, legal, or tax treatment of
such plans would  adversely  affect  Employer's  operating  results or financial
condition  in a material  way,  and the Board of  Directors  of  Employer or the
Holding Company  concludes that  modifications  to such plans need to be made to
avoid such adverse effects.

     6. So long as Employee is employed by Employer  pursuant to this Agreement,
Employee shall receive  reimbursement from Employer for all reasonable  business
expenses  incurred in the course of his employment by Employer,  upon submission
to Employer of written vouchers and statements for reimbursement. Employee shall
attend,  upon  the  prior  approval  of  Employer's  Board of  Directors,  those
professional  meetings,  conventions,  and/or  similar  functions  that he deems
appropriate and useful for purposes of keeping  abreast of current  developments
in the industry and/or promoting the interests of Employer.  So long as Employee
is employed by Employer pursuant to the terms of this Agreement,  Employer shall
continue in effect  vacation  policies  applicable to Employee no less favorable
from his point of view than those  written  vacation  policies  in effect on the
date  hereof.  So long as Employee  is  employed  by  Employer  pursuant to this
Agreement,  Employee shall be entitled to office space and working conditions no
less  favorable  from his point of view than were in effect  for him on the date
hereof.

     7.  Subject  to the  respective  continuing  obligations  of  the  parties,
including but not limited to those set forth in subsections 9(A), 9(B), 9(C) and
9(D) hereof,  Employee's  employment by Employer may be terminated  prior to the
expiration of the Term of this Agreement as follows:

     (A)  Employer,  by action of its Board of Directors and upon written notice
          to  Employee,   may  terminate  Employee's  employment  with  Employer
          immediately for cause. For purposes of this subsection  7(A),  "cause"
          shall be defined as (i) personal dishonesty, (ii) incompetence,  (iii)
          willful  misconduct,  (iv) breach of fiduciary duty involving personal
          profit, (v) intentional failure to perform stated duties, (vi) willful
          violation  of  any  law,  rule,  or  regulation  (other  than  traffic
          violations or similar  offenses) or final  cease-and-desist  order, or
          (vii) any material  breach of any term,  condition or covenant of this
          Agreement.

     (B)  Employer, by action of its Board of Directors may terminate Employee's
          employment with Employer without cause at any time; provided, however,
          that the "date of  termination"  for purposes of determining  benefits
          payable to Employee  under  subsection  8(B) hereof  shall be the date
          which  is 60 days  after  Employee  receives  written  notice  of such
          termination.

     (C)  Employee, by written notice to Employer,  may terminate his employment
          with Employer  immediately for cause.  For purposes of this subsection
          7(C),  "cause" shall be defined as (i) any action by Employer's  Board
          of Directors to remove the Employee as Executive  Vice  President  and
          Chief Financial Officer of Employer, except where the Employer's Board
          of Directors  properly  acts to remove  Employee  from such office for
          "cause" as  defined  in  subsection  7(A)  hereof,  (ii) any action by
          Employer's Board of Directors to materially limit, increase, or modify
          Employee's  duties and/or  authority as Executive  Vice  President and
          Chief Financial Officer of Employer,  (iii) any failure of Employer to
          obtain the  assumption of the  obligation to perform this Agreement by
          any successor or the reaffirmation of such obligation by Employer,  as
          contemplated  in  section 20 hereof;  or (iv) any  material  breach by
          Employer of a term, condition or covenant of this Agreement.

     (D)  Employee,  upon  sixty  (60)  days  written  notice to  Employer,  may
          terminate his employment with Employer without cause.

     (E)  Employee's  employment  with Employer shall  terminate in the event of
          Employee's  death or  disability.  For purposes  hereof,  "disability"
          shall be defined as Employee's inability by reason of illness or other
          physical or mental  incapacity  to perform the duties  required by his
          employment  for any  consecutive  One Hundred Eighty (180) day period,
          provided  that  notice  of any  termination  by  Employer  because  of
          Employee's "disability" shall have been given to Employee prior to the
          full resumption by him of the performance of such duties.

     8. In the event of  termination  of  Employee's  employment  with  Employer
pursuant to section 7 hereof, compensation shall continue to be paid by Employer
to Employee as follows:

     (A)  In the  event of  termination  pursuant  to  subsection  7(A) or 7(D),
          compensation  provided for herein (including Base Compensation)  shall
          continue to be paid, and Employee shall continue to participate in the
          employee  benefit,   retirement,  and  compensation  plans  and  other
          perquisites  as provided in sections 5 and 6 hereof,  through the date
          of termination  specified in the notice of  termination.  Any benefits
          payable  under  insurance,  health,  retirement  and bonus  plans as a
          result of  Employee's  participation  in such plans  through such date
          shall be paid  when due under  those  plans.  The date of  termination
          specified in any notice of  termination  pursuant to  subsection  7(A)
          shall be no later  than the last  business  day of the  month in which
          such notice is provided to Employee.

     (B)  In the  event of  termination  pursuant  to  subsection  7(B) or 7(C),
          compensation  provided for herein (including Base Compensation)  shall
          continue to be paid, and Employee shall continue to participate in the
          employee  benefit,   retirement,  and  compensation  plans  and  other
          perquisites  as provided in sections 5 and 6 hereof,  through the date
          of termination  specified in the notice of  termination.  Any benefits
          payable  under  insurance,  health,  retirement  and bonus  plans as a
          result of  Employee's  participation  in such plans  through such date
          shall be paid when due under those plans. In addition,  Employee shall
          be entitled to continue to receive from Employer his Base Compensation
          at the  rates in  effect  at the  time of  termination  (1) for  three
          additional  l2-month  periods if the  termination  follows a Change of
          Control  or  (2)  for  the  remaining  Term  of the  Agreement  if the
          termination does not follow a Change of Control.  In addition,  during
          such periods,  Employer will maintain in full force and effect for the
          continued  benefit of Employee each employee  welfare benefit plan and
          each employee  pension  benefit plan (as such terms are defined in the
          Employee  Retirement Income Security Act of 1974, as amended) in which
          Employee was entitled to participate  immediately prior to the date of
          his  termination,   unless  an  essentially  equivalent  and  no  less
          favorable benefit is provided by a subsequent employer of Employee. If
          the terms of any employee  welfare  benefit  plan or employee  pension
          benefit  plan of Employer  do not permit  continued  participation  by
          Employee,  Employer  will  arrange to  provide  to  Employee a benefit
          substantially  similar to, and no less favorable  than, the benefit he
          was  entitled  to receive  under such plan at the end of the period of
          coverage.  For purposes of this Agreement, a "Change of Control" shall
          mean an acquisition of "control" of the Holding Company or of Employer
          within the meaning of 12 C.F.R.  ss.225.41(b)  (other than a change of
          control  resulting from a trustee or other fiduciary holding shares of
          Common Stock under an employee  benefit plan of the Holding Company or
          any of its subsidiaries).  Notwithstanding anything to the contrary in
          the foregoing,  any benefits  payable under this subsection 8(B) shall
          be subject  to the  limitations  on  severance  benefits  set forth in
          Regulation  Bulletin  27a of the Office of Thrift  Supervision,  as in
          effect on the Effective Date.

     (C)  In the event of termination pursuant to subsection 7(E),  compensation
          provided for herein (including Base Compensation) shall continue to be
          paid,  and  Employee  shall  continue to  participate  in the employee
          benefit,  retirement,  and compensation plans and other perquisites as
          provided  in sections 5 and 6 hereof,  (i) in the event of  Employee's
          death,  through the date of death,  or (ii) in the event of Employee's
          disability,  through  the  date of  proper  notice  of  disability  as
          required by subsection  7(E).  Any benefits  payable under  insurance,
          health,   retirement  and  bonus  plans  as  a  result  of  Employer's
          participation  in such plans  through such date shall be paid when due
          under those plans.

     (D)  Employer  will permit  Employee or his personal  representative(s)  or
          heirs,   during  a  period  of  three  months   following   Employee's
          termination  of  employment  by Employer  for the reasons set forth in
          subsections  7(B) or (C),  if such  termination  follows  a Change  of
          Control,  to require Employer,  upon written request,  to purchase all
          outstanding  stock options  previously  granted to Employee  under any
          Holding  Company stock option plan then in effect  whether or not such
          options are then  exercisable  at a cash  purchase  price equal to the
          amount by which  the  aggregate  "fair  market  value"  of the  shares
          subject to such options  exceeds the  aggregate  option price for such
          shares.  For purposes of this Agreement,  the term "fair market value"
          shall mean the higher of (1) the average of the highest  asked  prices
          for Holding Company shares in the over-the-counter  market as reported
          on the NASDAQ  system if the shares are traded on such  system for the
          30 business days  preceding such  termination,  or (2) the average per
          share price actually paid for the most highly priced 1% of the Holding
          Company  shares  acquired in connection  with the Change of Control of
          the Holding Company by any person or group acquiring such control.

     9. In order to  induce  Employer  to enter  into this  Agreement,  Employee
hereby agrees as follows:

     (A)  While Employee is employed by Employer and for a period of three years
          after  termination of such employment for reasons other than those set
          forth in subsections 7(B) or (C) of this Agreement, Employee shall not
          divulge or  furnish  any trade  secrets  (as  defined in IND.  CODEss.
          24-2-3-2) of Employer or any confidential  information acquired by him
          while employed by Employer concerning the policies,  plans, procedures
          or customers  of Employer to any person,  firm or  corporation,  other
          than  Employer  or upon its  written  request,  or use any such  trade
          secret  or  confidential   information   directly  or  indirectly  for
          Employee's  own  benefit  or for the  benefit of any  person,  firm or
          corporation  other  than  Employer,   since  such  trade  secrets  and
          confidential  information  are  confidential  and  shall at all  times
          remain the property of Employer.

     (B)  For a period of three years after termination of Employee's employment
          by Employer for reasons other than those set forth in subsections 7(B)
          or (C) of this  Agreement,  Employee  shall not directly or indirectly
          provide banking or bank-related  services to or solicit the banking or
          bank-related  business of any customer of Employer at the time of such
          provision of services or  solicitation  which  Employee  served either
          alone or with others  while  employed  by Employer in any city,  town,
          borough,  township, village or other place in which Employee performed
          services  for Employer  while  employed by it, or assist any actual or
          potential  competitor of Employer to provide  banking or  bank-related
          services to or solicit  any such  customer's  banking or  bank-related
          business in any such place.

     (C)  While  Employee is  employed by Employer  and for a period of one year
          after  termination  of  Employee's  employment by Employer for reasons
          other  than  those  set  forth  in  subsections  7(B)  or (C) of  this
          Agreement,  Employee shall not, directly or indirectly,  as principal,
          agent,  or  trustee,   or  through  the  agency  of  any  corporation,
          partnership, trade association, agent or agency, engage in any banking
          or bank-related  business which competes with the business of Employer
          as conducted during Employee's  employment by Employer within a radius
          of twenty-five (25) miles of Employer's main office.

     (D)  If Employee's  employment by Employer is terminated  for reasons other
          than  those set forth in  subsections  7(B) or (C) of this  Agreement,
          Employee  will  turn  over  immediately  thereafter  to  Employer  all
          business correspondence,  letters, papers, reports,  customers' lists,
          financial statements, credit reports or other confidential information
          or  documents  of  Employer or its  affiliates  in the  possession  or
          control of Employee, all of which writings are and will continue to be
          the sole and exclusive property of Employer or its affiliates.

If  Employee's  employment  by  Employer is  terminated  during the Term of this
Agreement for reasons set forth in  subsections  7(B) or (C) of this  Agreement,
Employee  shall have no  obligations  to Employer with respect to trade secrets,
confidential information or noncompetition under this section 9.

     10. Any termination of Employee's  employment with Employer as contemplated
by section 7 hereof,  except in the circumstances of Employee's death,  shall be
communicated by written "Notice of Termination" by the terminating  party to the
other party hereto.  Any "Notice of Termination"  pursuant to subsections  7(A),
7(C) or 7(E) shall  indicate the specific  provisions of this  Agreement  relied
upon and shall  set  forth in  reasonable  detail  the  facts and  circumstances
claimed to provide a basis for such termination.

     11.  If  Employee  is  suspended   and/or   temporarily   prohibited   from
participating  in the conduct of  Employer's  affairs by a notice  served  under
section  8(3)(3) or (g)(1) of the Federal Deposit  Insurance Act (12 U.S.C.  ss.
1818(e)(3) and (g)(1)),  Employer's  obligations  under this Agreement  shall be
suspended as of the date of service,  unless stayed by appropriate  proceedings.
If the charges in the notice are dismissed,  Employer shall (i) pay Employee all
or part of the compensation  withheld while its obligations under this Agreement
were suspended and (ii)  reinstate (in whole or in part) any of its  obligations
which were suspended.

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

     13. If Employer is in default (as defined in section 3(x)(1) of the Federal
Deposit  Insurance Act), all obligations under this Agreement shall terminate as
of the date of default, but this provision shall not affect any vested rights of
Employer or Employee.

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

     15.  Anything in this  Agreement  to the contrary  notwithstanding,  in the
event that the  Employer's  independent  public  accountants  determine that any
payment by the Employer to or for the benefit of the  Employee,  whether paid or
payable pursuant to the terms of this Agreement,  would be non-deductible by the
Employer for federal income tax purposes because of Section 280G of the Internal
Revenue Code of 1986, as amended (the "Code"), then the amount payable to or for
the benefit of the Employee pursuant to this Agreement shall be reduced (but not
below zero) to the Reduced Amount. For purposes of this section 15, the "Reduced
Amount" shall be the amount which  maximizes the amount payable  without causing
the payment to be  non-deductible by the Employer because of Section 280G of the
Code. Any payments made to Employee pursuant to this Agreement or otherwise, are
subject to and conditional upon their  compliance with 12 U.S.C.  ss.1828(k) and
any  regulations  promulgated  thereunder,  to the  extent  applicable  to  such
parties.

     16. If a dispute arises  regarding the termination of Employee  pursuant to
section 7 hereof or as to the  interpretation  or  enforcement of this Agreement
and  Employee  obtains a final  judgment  in his  favor in a court of  competent
jurisdiction  or his claim is settled by Employer  prior to the  rendering  of a
judgment by such a court,  all  reasonable  legal fees and expenses  incurred by
Employee in contesting or disputing any such termination or seeking to obtain or
enforce  any  right or  benefit  provided  for in this  Agreement  or  otherwise
pursuing his claim shall be paid by Employer, to the extent permitted by law.

     17. Should  Employee die after  termination of his employment with Employer
while any amounts are payable to him hereunder,  this  Agreement  shall inure to
the  benefit of and be  enforceable  by  Employee's  executors,  administrators,
heirs,  distributees,  devisees and legatees and all amounts  payable  hereunder
shall be paid in  accordance  with the  terms of this  Agreement  to  Employee's
devisee,  legatee or other  designee  or, if there is no such  designee,  to his
estate.

     18. For purposes of this  Agreement,  notices and all other  communications
provided  for herein  shall be in writing and shall be deemed to have been given
when delivered or mailed by United States  registered or certified mail,  return
receipt requested, postage prepaid, addressed as follows:


         If to Employee:   Gary M. Monnett
                           52 South Grant Street
                           P.O. Box 494
                           Cloverdale, Indiana  46120

         If to Employer:   Owen Community Bank, s.b.
                           279 East Morgan Street
                           P.O. Box 187
                           Spencer, Indiana   47460

or to such address as either party hereto may have  furnished to the other party
in writing in  accordance  herewith,  except  that  notices of change of address
shall be effective only upon receipt.

     19. The validity,  interpretation,  and performance of this Agreement shall
be governed by the laws of the State of Indiana, except as otherwise required by
mandatory operation of federal law.

     20. Employer shall require any successor  (whether  direct or indirect,  by
purchase, merger, consolidation or otherwise) to all or substantially all of the
business or assets of Employer, by agreement in form and substance  satisfactory
to Employee to expressly  assume and agree to perform this Agreement in the same
manner and same extent that Employer  would be required to perform it if no such
succession had taken place.  Failure of Employer to obtain such agreement  prior
to the  effectiveness  of any such  succession  shall be a material  intentional
breach of this Agreement and shall entitle  Employee to terminate his employment
with Employer  pursuant to subsection  7(C) hereof.  As used in this  Agreement,
"Employer" shall mean Employer as hereinbefore  defined and any successor to its
business or assets as aforesaid.

     21. No provision of this  Agreement  may be modified,  waived or discharged
unless such waiver,  modification or discharge is agreed to in writing signed by
Employee  and  Employer.  No waiver by  either  party  hereto at any time of any
breach by the other  party  hereto of, or  compliance  with,  any  condition  or
provision of this  Agreement to be performed by such other party shall be deemed
a waiver  of  dissimilar  provisions  or  conditions  at the  same or any  prior
subsequent time. No agreements or representation,  oral or otherwise, express or
implied,  with  respect to the  subject  matter  hereof have been made by either
party which are not set forth expressly in this Agreement.

     22. The invalidity or  unenforceability of any provisions of this Agreement
shall not affect the validity or  enforceability of any other provisions of this
Agreement which shall remain in full force and effect.

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

     24. This  Agreement is personal in nature and neither  party hereto  shall,
without consent of the other, assign or transfer this Agreement or any rights or
obligations  hereunder  except as  provided  in section 17 and section 20 above.
Without  limiting  the  foregoing,  Employee's  right  to  receive  compensation
hereunder shall not be assignable or transferable,  whether by pledge,  creation
of a security interest or otherwise, other than a transfer by his will or by the
laws of descent or  distribution  as set forth in section 17 hereof,  and in the
event of any  attempted  assignment  or  transfer  contrary  to this  paragraph,
Employer  shall have no liability to pay any amounts so attempted to be assigned
or transferred.

     IN WITNESS  WHEREOF,  the parties have caused the  Agreement to be executed
and delivered as of the day and year first above set forth.

                                  OWEN COMMUNITY BANK, s.b.


                                  By: /s/ Kurt D. Rosenberger
                                     -------------------------------------------
                                           Kurt D. Rosenberger, President

                                                   "Employer"


                                     /s/ Gary M. Monnett
                                     -------------------------------------------
                                          Gary M. Monnett

                                                 "Employee"


     The  undersigned,  Home Financial  Bancorp,  sole  shareholder of Employer,
agrees that if it shall be determined for any reason that any obligations on the
part of Employer to continue to make any  payments  due under this  Agreement to
Employee is  unenforceable  for any reason,  Home Financial  Bancorp,  agrees to
honor the terms of this  Agreement  and  continue to make any such  payments due
hereunder to Employee pursuant to the terms of this Agreement.


                                  HOME FINANCIAL BANCORP


                                  By: /s/ Kurt D. Rosenberger
                                     -------------------------------------------
                                           Kurt D. Rosenberger, President