Document:

<PAGE>

                                                                 EXHIBIT 10.3(a)

                       [CONFIDENTIAL TREATMENT REQUESTED.
           CONFIDENTIAL PORTIONS OF THIS DOCUMENT HAVE BEEN REDACTED
              AND HAVE BEEN SEPARATELY FILED WITH THE COMMISSION.]

                                    AGREEMENT

This Agreement, effective on the date last signed below, by and between Save the
World Air, Inc. and the RAND Corporation ["RAND"], witnesseth that, in
consideration of the services mutually to be rendered herein, SAVE THE WORLD
AIR, INC. and RAND so mutually agree as follows:

1. WORK SCOPE:

RAND will use its best efforts in performance of the attached scope of work
(Exhibit A).

2. TERM:

The term of this Agreement will run from May 7, 2003 to May 7, 2004.

3. INDEPENDENT CONTRACTOR:

RAND is entering into, and shall perform the work called for under this
agreement, as an independent contractor and not as an employee of Save the World
Air, Inc.. This agreement does not create or constitute a joint venture, agency,
partnership or other similar relationship between the parties.

4. PROGRAM DELIVERABLES:

RAND will provide Save the World Air, Inc. with deliverables as outlined in
Exhibit A. RAND will be solely responsible for its findings and conclusions in
all materials provided by RAND in the course of this project.

5. PUBLICATIONS:

It is an intention of this Agreement that publication of the results of the
policy and analytical research supported herein may be made available to the
public. These publications, including derivative works from the final
deliverables, will be copyrighted in RAND's name. RAND will acknowledge Save the
World Air, Inc. sponsorship in all publications resulting from this Agreement
and will provide Save the World Air, Inc. with a copy of each proposed
publication. Save the World Air, Inc. will review all documents within three (3)
weeks of receipt. RAND will be free to proceed with publication after the three
(3) week period whether or not any comments have been received from Save the
World Air, Inc. However, if comments are received, they will be considered by
RAND prior to publication.

6. USE OF NAMES:

RAND and Save the World Air, Inc. will obtain prior written permission from each
other before using the name, symbols, and/or marks of the other in any form of
publicity in connection with this agreement or the services provided hereunder.
This shall not include legally required disclosure by RAND or Save the World
Air, Inc. that identifies the existence of this agreement.

Save the World Air, Inc. will not use, nor authorize others to use, the name,
symbols, and/or marks of RAND in any advertising or publicity material or make
any form of representation or statement in relation to this Agreement or any
work product produced in

<PAGE>

accordance with this Agreement which would constitute an express or implied
endorsement by RAND of any commercial product or service without prior written
approval from RAND.

7. TERMINATION:

Either party may terminate this agreement by providing the other with sixty (60)
days written notice. In the event that either party hereto shall commit any
breach or default of any of the terms or conditions of this Agreement, and also
fail to remedy such default or breach within sixty (60) days after receipt of
written notice thereof, the party giving notice may, at its option and in
addition to any other remedies which it may have at law or in equity, terminate
this agreement by sending notice of termination in writing to the other party to
such effect, and such termination shall be effective as of the date of the
receipt of such notice. RAND will be reimbursed for all costs and non-cancelable
commitments incurred in connection with RAND's services performed in accordance
with this Agreement to and including the effective date of termination,
including but not limited to costs incurred in transition between Tasks
described in Attachment A and costs incurred in winding down any Tasks described
in Attachment A regardless of whether such Task had been completed.

8. PROPIETARY INFORMATION:

During the course of conducting the work in accordance with this agreement, Save
the World Air, Inc. may provide RAND with proprietary information regarding Save
the World Air, Inc.'s research and development and product design. This
information may take various forms including written, designs and drawings, and
oral. This information will be clearly designated as "proprietary." RAND agrees
not to disclose any such confidential information for as long as it remains
unpublished unless such information: (a) was in the public domain at the time it
was disclosed to RAND; (b) entered the public domain subsequent to the time it
was disclosed to RAND through no fault of RAND; (c) was in RAND's possession
free of any obligation of confidence at the time it was disclosed to RAND; (d)
was rightfully communicated to RAND free of any obligation of confidence
subsequent to the time it was disclosed to RAND; or (e) was disclosed by Save
the World Air, Inc. to a third party without any confidentiality restrictions.

In addition, RAND may disclose certain proprietary information, without
violating the obligations of this Agreement, to the extent the disclosure is
required by an order of a court or other governmental body having jurisdiction,
provided that RAND provides Save the World Air, Inc. with reasonable prior
written notice of such disclosure in order to permit Save the World Air, Inc. to
seek confidential treatment of or a protective restricting disclosure or use of
such information, and cooperates with Save the World Air, Inc. in such efforts.

9. SUBCONTRACTS

To perform the work called for under this Agreement, RAND reserves the right, in
its sole discretion, to subcontract such work to third parties selected by RAND
based on quality and price. Funding for subcontracted work is not included in
the price of this contract as stated in section 11. RAND will provide summary
information to Save the World Air, Inc regarding any potential subcontractor.
The contract will then be amended

<PAGE>

to add the necessary funding and payment terms. RAND will not enter into any
subcontract relationship prior to receiving payment(s) from Save the World Air,
Inc. sufficient to cover the subcontract obligation.

10. LIMITATION OF LIABILITY; INDEMNIFICATION.

In no event will RAND or any of its employees or agents be liable under or in
connection with this Agreement or in connection with any services provided or
work product produced under this Agreement for any damages, including, but not
limited to, indirect, incidental, special or consequential damages, including
loss of profits, revenue, data or use, incurred by Save the World Air, Inc., or
any third party, whether in any action in contract or tort or based on a
warranty, including damages or losses arising out of, connected with or
resulting from the provision of the services under this Agreement, except to the
extent such damages are due to the gross negligence, bad faith or willful
misconduct of RAND.

Should RAND become the subject of any third-party claim or incur any liability
or expense in connection with the performance of the services, Save the World
Air, Inc., shall be obligated to defend against such claim with counsel
reasonably acceptable to RAND and shall indemnify and hold harmless RAND from
any such claim, liability or expense, except to the extent such claim, liability
or expense is due to the gross negligence, bad faith or willful misconduct of
RAND. At its election, RAND may retain its own counsel to participate in the
defense, and the fees and expenses of such counsel shall be paid by Save the
World Air, Inc., if representation of RAND by the counsel retained by Save the
World Air, Inc. would be inappropriate due to actual or potential differing
interests between RAND and any other party represented by such counsel in such
proceeding. Any settlement negotiated by Save the World Air, Inc. and its
counsel shall be subject to the prior written approval of RAND.

11. PAYMENT SCHEDULE:

Payment by Save the World Air, Inc. to RAND for the work supported by this
Agreement will be paid in accordance with the following payment schedule. If the
timeline specified below changes due to, among other things, availability of
information, availability of testing facilities and length of time for
completion, RAND and Save the World Air, Inc. shall discuss such changes and
mutually agree on a revised timeline. The parties anticipate that the Funding as
stated will cover all of RAND's expenses and fees incurred in the performance of
the work; provided, however, that if RAND notifies Save the World Air, Inc. that
its expenses and fees may be in excess of the stated Funding, RAND shall not be
obligated to incur any expenses or fees in excess of the Funding, and the
parties shall endeavor in good faith to renegotiate the amount of available
Funding. Any modifications to costs and fees outlined below shall require a
written instrument, signed by both parties to this Agreement. All references to
"Tasks" or "Task" below refer to, and are qualified in their entirety by, the
descriptions on Attachment A hereto. Total cost for RAND's work on the contract,
exclusive of subcontract costs, is $225,000 to be allocated as follows:

<PAGE>

1. $25,000 upon signing of agreement by both parties

2. Beginning May 1, 2003, $25,000 per month for eight (8) months upon
presentation of monthly invoices.

12. ENTIRE AGREEMENT

This Agreement constitutes the complete, final and exclusive embodiment of the
agreement between Save the World Air, Inc. and RAND with regard to the subject
matter hereof. It is entered into without reliance on any promise, warranty or
representation, written or oral, other than those expressly contained herein,
and it supersedes any other such promises, warranties or representations. This
Agreement may not be modified or amended except in a written agreement signed by
authorized personnel of both Save the World Air, Inc. and RAND. This Agreement
will bind and inure to the benefit of the successors and assigns of the parties
hereto. The failure to enforce any right or remedy resulting from any breach of
this Agreement will not be deemed to be a waiver of any other or subsequent
breach. For purposes of construing this Agreement, no ambiguities will be
construed against either party as the drafter. If any provision of this
Agreement is determined to be invalid or unenforceable, in whole or in part,
such determination will not affect any other provision of this Agreement and the
provision in question will be modified so as to be rendered enforceable in a
manner consistent with the intent of the parties insofar as possible. This
Agreement will be construed and enforced in accordance with the laws of the
State of California as applied to contracts between California residents made
and to be performed entirely within California. This Agreement may be executed
in counterparts or with facsimile signatures, which will be deemed equivalent to
originals.

IN WITNESS WHEREOF, Save the World Air, Inc. and RAND have executed this
contract as of the date signed below.

Agreed and Accepted:

SAVE THE WORLD AIR, INC.                       RAND

By: /s/ Edward L. Masry                    By: /s/ Joanne B. Shelby
    -----------------------                    ------------------------

Title: Chief Executive Officer             Title: Director of Contract and Grant
                                                      Services RAND
Date: May 5,2003                           Date:  5/07/03

<PAGE>

 PROPOSAL TO DESIGN AND OVERSEE TESTING PROGRAM FOR "DEVICE FOR SAVING FUEL AND
      REDUCING EMISSIONS" DESCRIBED UNDER PATENT APPLICATION PCT/AU1/00585

RAND proposes to design and oversee a device testing program as follows:

        Task 1: Design device testing program
        Task 2: Pre-combustion fuel testing (testing phase I)
        Task 3: Small, spark-ignition gasoline engine testing (testing phase II)
        Task 4: Additional engine testing (testing phase III)
        Task 5: Summary of results and recommendations for next steps

TASK 1: DESIGN DEVICE TESTING PROGRAM

RAND will consider findings of its technical review of magnetic fuel treatment,
and review available protocols for laboratory tests of aftermarket vehicle
retrofit devices. These will guide the initial design of a testing program that
aims to achieve consistent, statistically significant results describing a
possible effect that can be attributable to the device. Device testing will
occur in three phases, with the first two being conducted simultaneously. In
each phase, an appropriate experimental design will be applied. Design
considerations will include selection of an appropriate experimental device,
determination of sufficient sample size, appropriate testing order, and
variables to be controlled and measured. For each of the testing phases RAND
will identify 2 or 3 potential sources for the testing and will request short
proposals from them. RAND will then choose a source for the testing based on
competency and cost. It is possible that one source will be able to accomplish
all three testing phases, but it is more likely that different organizations
will be responsible for different types of testing.

Deliverables (1) Draft Request for Proposals (RFP) that can be distributed to
independent research laboratories that are appropriately equipped and staffed to
conduct Phase 1 pre-combustion fuel tests, briefly described below. (2) Project
Memorandum that summarizes experimental design, and outlines an implementation
approach that includes names of independent laboratories appropriately equipped
to conduct Phase 2 and 3 exhaust emissions tests.

TASK 2: PRE-COMBUSTION FUEL TESTING (TESTING PHASE I)

RAND will oversee work and interpret results of an independent laboratory (under
separate contract) that will explore one possible mechanism for magnetic fuel
treatment-improved pre-combustion atomization of fuel. Note that this is only
one possible mechanism, but appears to be the most widely believed by proponents
of magnetic fuel treatment, and may be tested in a laboratory. The experimental
approach will be detailed in an RFP prepared under Task 1, and summarized
briefly as follows:

First, in a simple modeling exercise, we will attempt to understand how changes
in fuel viscosity and/or surface tension affect nozzle efficiency and droplet
size. Next, we will measure the effect of a magnetic field on viscosity and
surface tension for a range of fuels (including diesel). If the observed changes
in fluid properties are on the same order-of-magnitude as the changes required
to impact the atomization process, these two studies provide evidence of a
physical basis for the effects of magnetic fuel treatment on combustion
processes.

Deliverable. Project Memorandum describing modeling and fuel testing methodology
and results.

TASK 3: SMALL, SPARK IGNITION GASOLINE ENGINE TESTING (TESTING PHASE II)

<PAGE>

RAND will oversee work and interpret results of an independent laboratory (under
separate contract) identified by the California Air Resources Board. The
laboratory will test the device on a small, spark-ignition gasoline engine
(e.g., two-stroke motorcycle or lawnmower engine.) The experimental approach
will be detailed in a Project Memorandum prepared under Task 1, but essentially
entails measurement of a range of exhaust emissions, with and without the device
installed, while carefully controlling operating conditions and testing order. A
sufficient number of experimental runs (n) will be conducted. Use of a simple,
small engine-we believe-lends itself to more cost-effective testing that is
aimed at achieving consistent, statistically significant results. Results are
relevant to this class of engines, and may also warrant further testing of a
wider range of engines and fuel types in Phase 3.

Deliverable. Project Memorandum describing device testing methodology and
results. TASK 4: ADDITIONAL ENGINE TESTING (TESTING PHASE III)

At the discretion of RAND, and in light of results of Phase 1 and 2 testing,
RAND may continue the testing program in this phase.

RAND will expand device testing to include installation on larger, carbureted
and fuel-injected, spark-ignition gasoline and compressed-ignition diesel
engines. Development and implementation of this phase of the testing program
will take place in coordination with the Environmental Protection Agency (EPA),
as part of EPA's Motor Vehicle Aftermarket Retrofit Device Program.

As in Phase 2, RAND will work with an independent testing laboratory (under
separate contract) identified by the California Air Resources Board to conduct
testing of the device. A range of relevant exhaust emissions will be measured,
with and without the device installed, while operating conditions and testing
order are controlled. Testing may include both laboratory and road tests. A
sufficient number of experimental runs (n) will be conducted.

Deliverable. (1) RAND published research paper describing device testing
methodology and results of all phases of the testing program. (2) Draft
application for official review of the device and testing results by the EPA,
under the EPA Motor Vehicle Aftermarket Retrofit Device Program, with results to
be reported in the Federal Register. Note that part of the application also
requires explanation of the theoretical basis of the device.

TASK 5: SUMMARY OF RESULTS AND RECOMMENDATIONS FOR NEXT STEPS

RAND will review all the results, summarize them in a report for STW, Inc; and
evaluate what the results mean for the potential for this product. If the tests
have come out successful, RAND will address different market opportunities based
on the results and suggest future directions for the deployment of the product.
If the tests have come out unsuccessful, RAND will outline the apparent reasons
for why the product did not operate as expected n the patent application.

SCHEDULE

         Task 1: One month
         Task 2: approximately 6 months (depending on availability of labs),
         conducted in parallel with testing Phase 2
         Task 3: 6 months (depending on availability of labs)
         Task 4: 6 months (depending on availability of labs), conducted after
         Phases 1 and 2 are completed.
         Task 5: 1 month after final lab results
<PAGE>

              AGREEMENT NO. STWA-TEST-CONTRACT, MODIFICATION NO. 1

                                     BETWEEN

                                 RAND CORPORATION

                                       AND

                            SAVE THE WORLD AIR, INC.

                                       FOR

                  DEVICE FOR SAVING FUEL AND REDUCING EMISSIONS

This Contract Modification is entered into as of the ____th day of August 2003.

The following Articles are revised as shown below:

9. SUBCONTRACTS

To perform the work called for under this Agreement, RAND reserves the right, in
its sole discretion, to subcontract such work to third parties selected by RAND
based on quality and price. Funding for subcontracted work is not included in
the price of this contract as stated in section 11. RAND will provide summary
information to Save the World Air, Inc regarding any potential subcontractor.
The contract will then be amended to add the necessary funding and payment
terms. RAND will not enter into any subcontract relationship prior to receiving
payment(s) from Save the World Air, Inc. sufficient to cover the subcontract
obligation.

Awarded Subcontracts:

 Task 4: Additional Engine Testing (Testing Phase III) - $75,000 to [***]

11. PAYMENT SCHEDULE:

Payment by Save the World Air, Inc. to RAND for the work supported by this
Agreement will be paid in accordance with the following payment schedule. If the
timeline specified below changes due to, among other things, availability of
information, availability of testing facilities and length of time for
completion, RAND and Save the World Air, Inc. shall discuss such changes and
mutually agree on a revised timeline. The parties anticipate that the Funding as
stated will cover all of RAND's expenses and fees incurred in the performance of
the work; provided, however, that if RAND notifies Save the World Air, Inc. that
its expenses and fees may be in excess of the stated Funding, RAND shall not be
obligated to incur any expenses or fees in excess of the Funding, and the
parties shall endeavor in good faith to renegotiate the amount of available
Funding. Any

***Confidential Treatment Requested

<PAGE>

modifications to costs and fees outlined .below shall require a written
instrument, signed by both parties to this Agreement. All references to "Tasks"
or "Task" below refer to, and are qualified in their entirety by, the
descriptions on Attachment A hereto. Total cost for RAND's work on the contract,
inclusive of subcontract costs, is $300,000 to be allocated as follows:

1. $25,000 upon signing of agreement by both parties

2. Beginning May 1, 2003, $25,000 per month for eight (8) months upon
presentation of monthly invoices.

3. 30 days past execution of Modification 1, pay $75,000.

ACCEPTED FOR:

RAND Corporation                            Save the World Air, Inc.

Name Signed: /s/ Joanne B. Shelby           Name Signed: /s/ Eugene E. Eichler
             --------------------                        ----------------------
Name Typed:  Joanne B. Shelby               Name Typed:  Eugene E. Eichler

Title:       Director, Contracts & Grants   Title:       Chief Operating Officer

Date         8/21/03                        Date:        9/18/03

<PAGE>

              AGREEMENT No. STWA-TEST-CONTRACT, MODIFICATION NO. 2

                                     BETWEEN

                                RAND CORPORATION

                                       AND

                            SAVE THE WORLD AIR, INC.

                                       FOR

                  DEVICE FOR SAVING FUEL AND REDUCING EMISSIONS

This Contract Modification is entered into as of the 17th day of October 2003.

The following Articles are revised as shown below:

9. SUBCONTRACTS

To perform the work called for under this Agreement, RAND reserves the right, in
its sole discretion, to subcontract such work to third parties selected by RAND
based on quality and price. Funding for subcontracted work is not included in
the price of this contract as stated in section 11. RAND will provide summary
information to Save the World Air, Inc regarding any potential subcontractor.
The contract will then be amended to add the necessary funding and payment
terms. RAND will not enter into any subcontract relationship prior to receiving
payment(s) from Save the World Air, Inc. sufficient to cover the subcontract
obligation.

Awarded Subcontracts:

 Task 4: Additional Engine Testing (Testing Phase III) - $75,000 to [***]

 Task 2: Pre-Combustion Fuel Testing (Testing Phase I) - $65,000 to [***]

11. PAYMENT SCHEDULE:

Payment by Save the World Air, Inc. to RAND for the work supported by this
Agreement will be paid in accordance with the following payment schedule. If the
timeline specified below changes due to, among other things, availability of
information, availability of testing facilities and length of time for
completion, RAND and Save the World Air, Inc. shall discuss such changes and
mutually agree on a revised timeline. The parties anticipate that the Funding as
stated will cover all of RAND's expenses and fees incurred in the performance of
the work; provided, however, that if RAND notifies Save the World Air, Inc. that
its expenses and fees may be in excess of the stated Funding, RAND shall not be
obligated to incur any expenses or fees in excess of the Funding, and the

***Confidential Treatment Requested

<PAGE>

parties shall endeavor in good faith to renegotiate the amount of available
Funding. Any modifications to costs and fees outlined below shall require a
written instrument, signed by both parties to this Agreement. All references to
"Tasks" or "Task" below refer to, and are qualified in their entirety by, the
descriptions on Attachment A hereto. Total cost for RAND's work on the contract,
inclusive of subcontract costs, is $365,000 to be allocated as follows:

1. $25,000 upon signing of agreement by both parties

2. Beginning May 1, 2003, $25,000 per month for eight (8) months upon
presentation of monthly invoices.

3. 30 days past execution of Modification 1, pay $75,000. (received payment Oct.
7, 2003)

4. 30 days past execution of Modification 2, pay $65,000. (received payment Oct.
7, 2003)

ACCEPTED FOR:

RAND Corporation                            Save the World Air, Inc.

Name Signed: /s/ Joanne B. Shelby           Name Signed: /s/ Eugene E. Eichler
             --------------------                        ----------------------
Name Typed:  Joanne B. Shelby               Name Typed:  Eugene E. Eichler

Title:       Director, Contracts & Grants   Title:       Chief Operating Officer

Date         10/13/03                       Date:        10-17-2003

<PAGE>

              AGREEMENT NO. STWA-TEST-CONTRACT, MODIFICATION NO. 3

                                     BETWEEN

                                RAND CORPORATION

                                       AND

                            SAVE THE WORLD AIR, INC.

                                       FOR

                  DEVICE FOR SAVING FUEL AND REDUCING EMISSIONS

This Contract Modification is entered into as of the ____th day of January 2004.

The following Articles are revised as shown below:

1.WORK SCOPE

RAND will use its best efforts in performance of the attached scope of work
(Revision 1 Exhibit A).

2.TERM

The term of this Agreement will run from May 07,2003 to July 7, 2004.

11. PAYMENT SCHEDULE:

Payment by Save the World Air, Inc. to RAND for the work supported by this
Agreement will be paid in accordance with the following payment schedule. If the
timeline specified below changes due to, among other things, availability of
information, availability of testing facilities and length of time for
completion, RAND and Save the World Air, Inc. shall discuss such changes and
mutually agree on a revised timeline. The parties anticipate that the Funding as
stated will cover all of RAND's expenses and fees incurred in the performance of
the work; provided, however, that if RAND notifies Save the World Air, Inc. that
its expenses and fees may be in excess of the stated Funding, RAND shall not be
obligated to incur any expenses or fees in excess of the Funding, and the
parties shall endeavor in good faith to renegotiate the amount of available
Funding. Any modifications to costs and fees outlined below shall require a
written instrument, signed by both parties to this Agreement. All references to
"Tasks" or "Task" below refer to, and are qualified in their entirety by, the
descriptions on Attachment A hereto. Total cost for RAND's work on the contract,
inclusive of subcontract costs, is $665,000 to be allocated as follows:

1. $25,000 upon signing of agreement by both parties

<PAGE>

Exhibit A Addendum to STWA Contract SOW

Task 6 Run a series of tests on 2 different vehicles at [***]
   RAND proposes as a next step that STWA supply another carbureted vehicle and
   RAND will oversee testing with new protocols at [***]. In addition, STWA
   might consider also supplying a fuel-injected to be tested as well. In
   addition, RAND will systematically evaluate the individual smog tests that
   were done, to map them graphically and see if there are any patterns that can
   help.
        Additional RAND Costs: $50,000 to be paid $25,000 on Feb 1 and $25,000
                  on March 1.

        Additional Lab Costs: Some of the costs will be covered under existing
                  funds, and RAND will supply an accounting of the costs and
                  inform STWA of additional funds that may be needed for [***]

Task 7 Oversee testing of a small engine at [***]

   RAND will execute a contract with [***] to test the new small engine
   device. RAND will oversee and evaluate the testing in the same manner that
   RAND is working with [***].
        Additional RAND Costs: $25,000 to be paid March 1
        Lab Costs: To be determined. RAND will send a letter to STWA with the
                  testing amount which STWA will pay before RAND executes a
                  contract.

Task 8 Oversee R&D efforts by Australian team.
   RAND will work with and help guide the efforts of the Australian team by
   helping to design tests and interpret results. RAND would be responsible for
   helping focus the R&D efforts, set reporting guidelines, and oversee the
   efforts of the group in Australia. The R&D team needs to focus on getting the
   existing device into marketable form, and hone their testing abilities. RAND
   will evaluate the materials provided to us, and work with them on a testing
   regime that we can compare to others, and develop consistent framework and
   guidelines for further development.

        Additional RAND costs including travel up to $200,000.
                  STWA will pay $25,000 on February 1. On the 25th each month
                  RAND will estimate the time and material cost needs of the
                  following month and STWA will be billed for that amount. Any
                  funds left over from the month will be rolled into the next
                  months requirements. If RAND exceeded the months costs,
                  additional costs will be billed the following month.

***Confidential Treatment Requested

<PAGE>

AGREEMENT No. STWA-TEST-CONTRACT, Modification No. 3 (cont.)

2. Beginning May 1, 2003, $25,000 per month for eight (8) months upon
presentation of monthly invoices.

3.30 days past execution of Modification 1, pay $75,000. (received payment Oct.
7, 2003)

4.30 days past execution of Modification 2, pay $65,000. (received payment Oct.
7, 2003)

5.30 days past execution of Modification 3, pay $50,000 ($25,000 each for Tasks
6 and 7)

6. On March 1, 2004 pay $50,000 ($25,000 each for Tasks 6 and 7)

7.30 days past execution of Modification 3, pay $25,000 for Task 8. On the 25th
each month RAND will estimate the time and material cost needs of the following
month and STWA will be billed for that amount. Any funds left over from the
month will be rolled into the next month's requirements. If RAND exceeded the
months costs, additional costs will be billed the following month. Total cap for
Task 8: $200,000.

ACCEPTED FOR:

RAND Corporation                            Save the World Air, Inc.

Name Signed: /s/ Joanne B. Shelby           Name Signed: /s/ Eugene E. Eichler
             --------------------                        ----------------------
Name Typed:  Joanne B. Shelby               Name Typed:  Eugene E. Eichler

Title:       Director, Contracts & Grants   Title:       Chief Operating Officer

Date         1/20/04                        Date:        2/6/04<PAGE>

                                  EXHIBIT 10.2

                              EMPLOYMENT AGREEMENT

         THIS EMPLOYMENT AGREEMENT (hereinafter referred to as this "AGREEMENT")
is entered into as of the 28th day of March, 2003, by and between Home City
Federal Savings Bank of Springfield, a savings bank chartered under the laws of
the United States (hereinafter referred to as the "EMPLOYER"), and J. William
Stapleton, an individual (hereinafter referred to as the "EMPLOYEE");

                                   WITNESSETH:

         WHEREAS, the EMPLOYER desires to hire EMPLOYEE as the Chief Executive
Officer and Chief Operating Officer of the EMPLOYER;

         WHEREAS, the EMPLOYEE desires to be hired as the Chief Executive
Officer and Chief Operating Officer of the EMPLOYER; and

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

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

l.       Employment and Term.

         (a)      Term. Upon the terms and subject to the conditions of this
AGREEMENT, the EMPLOYER hereby employs the EMPLOYEE, and the EMPLOYEE hereby
accepts employment, as the Chief Executive Officer and Chief Operating Officer
of the EMPLOYER. The TERM of this AGREEMENT shall commence on the date first set
forth above and at the end of each month during the term shall be automatically
extended for another month (providing for a continuous two (2) year term of
employment), subject to the termination provisions contained in Section 4 of
this Agreement.

2.       Duties of the EMPLOYEE.

         (a)      General Duties and Responsibilities. The EMPLOYEE shall serve
as the Chief Executive Officer and Chief Operating Officer of the EMPLOYER.
Subject to the direction of the Board of Directors of the EMPLOYER, the EMPLOYEE
shall have responsibility for the general management and control of the business
and affairs of the EMPLOYER and shall perform all duties and shall have all
powers which are commonly incident to the office of Chief Executive Officer and
Chief Operating Officer or which, consistent therewith, are delegated to him by
the Board of Directors. Such duties shall include, but not be limited to, (1)
managing the day-to-day operations of the EMPLOYER, (2) managing the efforts of
the EMPLOYER to comply with applicable laws and regulations, (3) marketing of
the EMPLOYER and its services, (4) supervising other employees of the EMPLOYER,
(5) providing prompt and accurate reports

                                      -68-

<PAGE>

to the Board of Directors of the EMPLOYER regarding the affairs and conditions
of the EMPLOYER, and (6) making recommendations to the Board of Director's of
the EMPLOYER concerning the strategies, capital structure, tactics, and general
operations of the EMPLOYER.

         (b)      Devotion of Entire Time to the Business of the EMPLOYER. 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 to the EMPLOYER and its holding company and to their subsidiaries and
affiliates. The EMPLOYEE shall not directly or indirectly render any services of
a business, commercial or professional nature to any person or organization
other than the EMPLOYER and Home City Financial Corporation ("HCFC") and their
subsidiaries and affiliates without the prior written consent of the Board of
Directors of the EMPLOYER; provided, however, that the EMPLOYEE shall not be
precluded from (i) reasonable participation in community, civic, charitable or
similar organizations; or (ii) the pursuit of personal investments that do not
interfere or conflict with the performance of the EMPLOYEE's duties to the
EMPLOYER. Nothing in this section shall limit the EMPLOYEE's right to invest in
securities of any business that does not provide services or products of the
type or competing with those provided by the EMPLOYER or its subsidiaries or
affiliates.

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 bi-weekly. The amount
of such annual salary shall be $126,500.00 until changed by the Board of
Directors of the EMPLOYER in accordance with Section 3(b) of this AGREEMENT.

         (b)      Annual Salary Review. On or before each anniversary of the
effective date of this AGREEMENT, the annual salary of the EMPLOYEE shall be
reviewed by the Board of Directors of the EMPLOYER and may be maintained or
adjusted, in its discretion, based upon the EMPLOYEE's individual performance
and the overall profitability and financial condition of the EMPLOYER. The
results of the annual salary review shall be reflected in the minutes of the
appropriate meetings of the Board of Directors of the EMPLOYER.

         (c)      Expenses. In addition to any compensation received under
Section 3(a) or (b) of this AGREEMENT, the EMPLOYER 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 EMPLOYER pertaining to reimbursement of expenses to senior
management officials.

         (d)      Employee Benefit Programs.

                  (i)      During the TERM, the EMPLOYEE shall be entitled to
participate in all formally established employee benefit, bonus, pension and
profit-sharing plans and similar programs that are maintained by the EMPLOYER
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 Board of Directors of the EMPLOYER, for which senior

                                      -69-

<PAGE>

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 any statement to the contrary
contained elsewhere in this Agreement, the EMPLOYER 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 applicable law, and shall not be
required to compensate the EMPLOYEE for such discontinuance or termination; and

                  (ii)     After the termination of the employment of the
EMPLOYEE in accordance with Section 4 of this AGREEMENT for any reason other
than JUST CAUSE (as defined hereinafter), the EMPLOYER shall provide, at the
EMPLOYER's expense, from the date of termination until the end of the TERM or
until the earlier date the EMPLOYEE obtains substantially equivalent coverage
from another full-time employer, substantially the same health, disability and
life insurance benefits as are available to retired employees of the EMPLOYER on
the date of this AGREEMENT; provided, however, that the EMPLOYER's obligation
under this Section 3(d)(ii) shall terminate in the event that the EMPLOYER no
longer makes available an employee group health, disability or life insurance
program that permits the EMPLOYER to make coverage available for retirees or in
the event the EMPLOYER's employee group health, disability or life insurance
program does not permit the coverage of the EMPLOYEE.

         (e)      Vacation and Sick Leave. The EMPLOYEE shall be entitled to
five (5) weeks of annual vacation with pay. The EMPLOYEE shall be entitled to
annual sick leave in accordance with the policies periodically established by
the Board of Directors of the EMPLOYER for senior management officials of the
EMPLOYER.

4.       Termination of Employment.

         (a)      General. The employment of the EMPLOYEE shall terminate at any
time during the TERM (i) at the option of the EMPLOYER upon the delivery by the
EMPLOYER of written notice of employment termination to the EMPLOYEE, or (ii) at
the option of the EMPLOYEE upon the delivery by the EMPLOYEE of written notice
of termination to the EMPLOYER if, unless consented to in writing by the
EMPLOYEE, (A) the present capacity or circumstances in which the EMPLOYEE is
employed are materially changed (including, without limitation, a material
reduction in responsibilities or authority, or the assignment of duties or
responsibilities substantially inconsistent with those normally associated with
the EMPLOYEE's position described in Section 2(a) of this AGREEMENT), (B) the
EMPLOYEE is no longer the Chief Executive Officer and Chief Operating Officer of
the EMPLOYER and HCFC, (C) the EMPLOYEE is required to move his personal
residence, or perform his principal executive functions, more than thirty-five
(35) miles from his primary office as of the date of the commencement of the
TERM of this AGREEMENT, or (D) the EMPLOYER otherwise breaches this AGREEMENT in
any material respect.

                                      -70-

<PAGE>

         (b)      Termination for JUST CAUSE. In the event that the EMPLOYER
terminates the employment of the EMPLOYEE before the expiration of the TERM
because of the EMPLOYEE's personal dishonesty, 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 (other than traffic violations or
similar offenses) or final cease-and-desist order, 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.

         (c)      Termination in Connection with a CHANGE OF CONTROL.

                  (i)      In the event that, in connection with a CHANGE OF
CONTROL (including, without limitation, a termination other than for JUST CAUSE
within six months prior to a CHANGE OF CONTROL) or after a CHANGE OF CONTROL,
the employment of the EMPLOYEE is terminated by the EMPLOYER for any reason
other than JUST CAUSE before the expiration of the two year employment TERM,
then the following shall occur:

                           (A)      The EMPLOYER shall promptly pay to the
         EMPLOYEE or to his beneficiaries, dependents or estate an amount equal
         to the product of two 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 salary review in
         accordance with Section 3 (b) of this AGREEMENT;

                           (B)      The EMPLOYER shall continue to provide to
         the EMPLOYEE, his dependents, beneficiaries and estate, at the
         EMPLOYER's expense, health, disability and life insurance benefits as
         provided in Section 3(d)(ii) of this Agreement, until the expiration of
         the two year employment TERM or until the earlier date the EMPLOYEE
         obtains substantially equivalent coverage from another full-time
         employer; and

                           (C)      The EMPLOYEE shall not be required to
         mitigate the amount of any 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 EMPLOYER hereunder, except as specifically
         stated in subparagraph (B).

                  (ii)     In the event that, within six months prior to or
within one year after a CHANGE OF CONTROL, the employment of the EMPLOYEE is
terminated by the EMPLOYEE in accordance with Section 4(a)(ii) of this AGREEMENT
before the expiration of the two year employment TERM, then the following shall
occur:

                           (A)      The EMPLOYER shall promptly pay to the
         EMPLOYEE or to his beneficiaries, dependents or estate an amount equal
         to the product of two 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 salary review in
         accordance with Section 3 (b) of this AGREEMENT;

                                      -71-

<PAGE>

                           (B)      The EMPLOYER shall continue to provide to
         the EMPLOYEE, his dependents, beneficiaries and estate, at the
         EMPLOYER's expense, health, disability and life insurance benefits as
         provided in Section 3(d)(ii) of this Agreement, until the expiration of
         the two year employment TERM or until the earlier date the EMPLOYEE
         obtains substantially equivalent coverage from another full-time
         employer; and

                           (C)      The EMPLOYEE shall not be required to
         mitigate the amount of any 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 EMPLOYER hereunder, except as specifically
         stated in subparagraph (B).

         In the event that payments pursuant to this subsection (c) 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 that may be paid under SECTION
280G without exceeding such limits. Payments pursuant to this subsection (c)
also may not exceed applicable limits established by the Office of Thrift
Supervision (hereinafter referred to as the "OTS"). In the event a reduction in
payments is necessary in order to comply with the requirements of this AGREEMENT
relating to the limitations of SECTION 280G or applicable OTS limits, the
EMPLOYEE may determine, in his sole discretion, which categories of payments are
to be reduced or eliminated.

         (d)      Termination Without CHANGE OF CONTROL. In the event that the
employment of the EMPLOYEE is terminated by the EMPLOYER or is terminated by the
EMPLOYEE in accordance with Section 4(a)(ii) of this AGREEMENT before the
expiration of the TERM other than (i) for JUST CAUSE or (ii) in connection with
or after a CHANGE OF CONTROL, the EMPLOYER shall be obligated (A) to pay to the
EMPLOYEE, his designated beneficiaries or his estate, for the remainder of the
two year employment TERM, the salary set forth in Section 3(a) of this AGREEMENT
or the salary payable to the EMPLOYEE as a result of any annual salary review in
accordance with Section 3(b) of this AGREEMENT; and (B) to provide to the
EMPLOYEE, at the EMPLOYER's expense, health, disability and life insurance
benefits as provided in Section 3(d)(ii) of this Agreement, until the expiration
of the TERM or until the earlier date the EMPLOYEE obtains substantially
equivalent coverage from another full-time employer. In the event that payments
pursuant to this subsection (d) would result in the imposition of a penalty tax
pursuant to SECTION 280G, such payments shall be reduced to the maximum amount
that may be paid under SECTION 280G without exceeding those limits. Payments
pursuant to this subsection also may not exceed the applicable limits
established by the In the event a reduction in payments is necessary in order to
comply with the requirements of this AGREEMENT relating to the limitations of
SECTION 280G or applicable OTS limits, the EMPLOYEE may determine, in his sole
discretion, which categories of payments are to be reduced or eliminated.

                                      -72-

<PAGE>

         (e)      Death of the EMPLOYEE. The TERM shall automatically terminate
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.

         (f)      "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. Section 1828(k) and any regulations
promulgated thereunder.

         (g)      Definition of "Change of Control." A "CHANGE OF CONTROL" shall
mean any one of the following events: (i) the acquisition of ownership or power
to vote more than 25% of the voting stock of the EMPLOYER or HCFC; (ii) the
acquisition of the ability to control the election of a majority of the
directors of the EMPLOYER or HCFC; (iii) during any period of two consecutive
years, individuals who at the beginning of such period constitute the Board of
Directors of the EMPLOYER or HCFC cease for any reason to constitute at least a
majority thereof; provided, however, that any individual whose election or
nomination for election as a member of the Board of Directors was approved by a
vote of at least two-thirds of the directors then in office shall be considered
to have continued to be a member of the Board of Directors; or (iv) the
acquisition by any person or entity of "conclusive control" of the EMPLOYER
within the meaning of 12 C.F.R. Section 574.4(a), or the acquisition by any
person or entity of "rebuttal control" within the meaning of 12 C.F.R. Section
574.4(b) that has not been rebutted in accordance with 12 C.F.R. Section
574.4(c), For purposes of this paragraph, then term "person" refers to an
individual or corporation, partnership, trust, association, or other
organization, but does not include the EMPLOYEE and any person or persons with
whom the EMPLOYEE is "acting in concert" within the meaning of 12 C.F.R. Part
574.

5.       Special Regulatory Events. Notwithstanding Section 4 of this AGREEMENT,
the obligations of the EMPLOYER to the 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 the EMPLOYER'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 EMPLOYER'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 the notice are dismissed,
the EMPLOYER shall (i) pay the EMPLOYEE all of the compensation withheld while
the obligations in this AGREEMENT were suspended and (ii) reinstate any of the
obligations that were suspended.

         (b)      If the EMPLOYEE is removed and/or permanently prohibited from
participating in the conduct of the EMPLOYER's affairs by an order issued under
Section 8(e) (4) or (g) (1) of the FDIA, all obligations of the EMPLOYER 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.

                                      -73-

<PAGE>

         (c)      If the EMPLOYER 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 EMPLOYER, (i) by the Director of
the OTS, or his or her designee at the time that the Federal Deposit Insurance
Corporation enters into an agreement to provide assistance to or on behalf of
the EMPLOYER 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 the EMPLOYER or when the EMPLOYER 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.

6.       Consolidation Merger or Sale of Assets. Nothing in this AGREEMENT shall
preclude the EMPLOYER from consolidating with, merging into, or transferring
all, or substantially all, of its assets to another corporation that assumes all
of the EMPLOYER's obligations and undertakings hereunder. Upon such a
consolidation, merger or transfer of assets, the term "EMPLOYER" as used herein,
shall mean such other corporation or entity, and this AGREEMENT shall continue
in full force and effect; provided, however, that the assumption of the
EMPLOYER's obligations and undertakings hereunder shall not affect the
EMPLOYEE's right to compensation pursuant to Section 4(a)(ii) of this AGREEMENT
in connection with such consolidation, merger or transfer of assets.

7.       Confidential Information. The EMPLOYEE acknowledges that during his
employment he will learn and have access to confidential information regarding
the EMPLOYER and its 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 EMPLOYER consents
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 unauthorized person any confidential
information relating to the EMPLOYER, its parent, 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 EMPLOYER. The EMPLOYEE
shall not otherwise knowingly act or conduct himself (a) to the material
detriment of the EMPLOYER, its subsidiaries, or affiliates, or (b) in a manner
which is inimical or contrary to the interests of the EMPLOYER.

8.       Nonassignability. Neither this AGREEMENT nor any right or interest
hereunder shall be assignable by the EMPLOYEE, his beneficiaries, or legal
representatives without the EMPLOYER's 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.

                                      -74-

<PAGE>

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.

10.      Indemnification: Insurance.

         (a)      Indemnification. The EMPLOYER agrees to indemnify the EMPLOYEE
and his heirs, executors, and administrators to the fullest extent permitted
under applicable law and regulations, including, without limitation 12 U.S.C.
Section 1828(k), against any and all expenses and liabilities reasonably
incurred by the EMPLOYEE in connection with or arising out of any action, suit
or proceeding in which the EMPLOYEE may be involved by reason of his having been
a director or officer of the EMPLOYER or any of its subsidiaries, whether or not
the EMPLOYEE is a director or officer at the time of incurring any such expenses
of liabilities. Such expenses and liabilities shall include, but shall not be
limited to, judgments, court costs and attorneys fees and the cost of reasonable
settlements. The EMPLOYEE shall be entitled to indemnification in respect of a
settlement only if the Board of Directors of the EMPLOYER has approved such
settlement. Notwithstanding anything herein to the contrary, (i) indemnification
for expenses shall not extend to matters for which the EMPLOYEE has been
terminated for JUST CAUSE, and (ii) the obligations of this Section 10 shall
survive the TERM of this AGREEMENT. Nothing contained herein shall be deemed to
provide indemnification prohibited by applicable law or regulation.

         (b)      Insurance. During the TERM, the EMPLOYER shall provide the
EMPLOYEE (and his heirs, executors, and administrators) with coverage under a
directors' and officers' liability policy at the EMPLOYER's expense, at least
equivalent to such coverage provided to directors and senior officers of the
EMPLOYER.

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

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

13.      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.

                                      -75-

<PAGE>

14.      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.

15.      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.

16.      Governing Law, Regulatory Authority. 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 the State of Ohio,
except to the extent that federal law is governing. References to the OTS
included herein shall include any successor primary federal regulatory authority
of the EMPLOYER.

17.      Effect of Prior Agreements. This AGREEMENT contains the entire
understanding between the parties hereto and supersedes any prior employment
agreement between the EMPLOYER or any predecessor of the EMPLOYER and the
EMPLOYEE.

18.      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 the EMPLOYER:

         Home City Federal Savings Bank of Springfield
         2454 N. Limestone Street
         Springfield, Ohio  45503

         If to the EMPLOYEE:

         J. William Stapleton
         2855 N. Dayton Lakeview Road
         New Carlisle, Ohio  45344

                                      -76-

<PAGE>

         IN WITNESS WHEREOF, the EMPLOYER has 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:                                      HOME CITY FEDERAL SAVINGS BANK
                                             OF SPRINGFIELD

/s/Douglas L. Ulery                          By: /s/John D. Conroy
----------------------------------               -------------------------------

Attest:

/s/Jo Ann Holdeman                           /s/ J. William Stapleton
----------------------------------           -------------------------------
                                             J. William Stapleton

                                      -77-

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