Document:

[LAWRENCE FINANCIAL HOLDINGS, INC. LETTERHEAD]

                               ______________,2000

Lawrence Financial Holdings, Inc.
311 South Fifth Street
Ironton, Ohio  45638-1609

Dear Mr. _____________:

         This letter confirms Lawrence Financial Holdings,  Inc.'s commitment to
fund a  leveraged  ESOP in an amount  sufficient  to  purchase  8% of the shares
issued in the mutual to stock  conversion of Lawrence  Federal Savings Bank (the
"Conversion"). The commitment is subject to the following terms and conditions:

     1.   Lender: Lawrence Financial Holdings, Inc. (the "Company").

     2.   Borrower: Lawrence Federal Savings Bank Employee Stock Ownership Plan.

     3.   Trustee: ______________

     4.   Security:  Unallocated shares of stock of the Company held in Lawrence
          Federal Savings Bank Employee Stock Ownership Plan Trust.

     5.   Maturity: Up to __ years from takedown.

     6.   Amortization: Equal quarterly principal and interest payments.

     7.   Pricing:

          a.   Lowest  "prime rate" as  published in the Wall Street  Journal on
               the date of the loan transaction.

     8.   Interest Payments:

          a.   Annual on a 365 day basis.

     9.   Prepayment: Voluntary prepayments are permitted at any time.

<PAGE>

          10.  Conditions  Precedent  to Closing:  Receipt by the Company of all
               supporting loan documents in a form and with terms and conditions
               satisfactory to the Company and its counsel.  Consummation of the
               transaction  will also be  contingent  upon no  material  adverse
               change  occurring in the  condition of Lawrence  Federal  Savings
               Bank or the Company.

         If the terms and conditions are agreeable to you,  please indicate your
acceptance by signing the enclosed copy and returning it to my attention.

                                              Sincerely,

Accepted on Behalf of
Lawrence Federal Savings Bank

By:_________________________________              Date:_____________________

<PAGE>

                                     FORM OF
                                PLEDGE AGREEMENT

         THIS PLEDGE  AGREEMENT  ("Pledge  Agreement") is made as of the _______
day of  ___________________,  by and between the LAWRENCE  FEDERAL  SAVINGS BANK
EMPLOYEE  STOCK  OWNERSHIP  PLAN  TRUST  ("Pledgor"),   and  LAWRENCE  FINANCIAL
HOLDINGS, INC., a corporation organized and existing under the laws of the State
of Delaware ("Pledgee").

                               W I T N E S S E T H

         WHEREAS,  this Pledge  Agreement is being executed and delivered to the
Pledgee  pursuant to the terms of a Loan Agreement  ("Loan  Agreement"),  by and
between the Pledgor and the Pledgee;

         NOW,  THEREFORE,  in consideration of the mutual  agreements  contained
herein and in the Loan  Agreement,  the parties  hereto do hereby  covenant  and
agree as follows:

         Section 1.  Definitions.  The  following  definitions  shall  apply for
purposes of this Pledge Agreement, except to the extent that a different meaning
is plainly indicated by the context;  all capitalized terms used but not defined
herein  shall  have  the  respective  meanings  assigned  to  them  in the  Loan
Agreement:

         Collateral  shall mean the  Pledged  Shares  and,  subject to section 5
hereof,  and to the extent  permitted by applicable law, all rights with respect
thereto, and all proceeds of such Pledged Shares and rights.

         ESOP  shall mean the  Lawrence  Federal  Savings  Bank  Employee  Stock
Ownership Plan.

         Event of Default shall mean an event so defined in the Loan Agreement.

         Liabilities  shall  mean  all the  obligations  of the  Pledgor  to the
Pledgee,  howsoever created,  arising or evidenced,  whether direct or indirect,
absolute or  contingent,  now or  hereafter  existing,  or due or to become due,
under the Loan Agreement and the Promissory Note.

         Pledged Shares shall mean all the Shares of Common Stock of the Pledgee
purchased  by the Pledgor  with the  proceeds of the loan made by the Pledgee to
the  Pledgor  pursuant  to the Loan  Agreement,  but  excluding  any such shares
previously released pursuant to section 4.

         Section 2. Pledge.  To secure the payment of and performance of all the
Liabilities,  the Pledgor hereby  pledges to the Pledgee,  and the grants to the
Pledgee, a security interest in, and lien upon, the Collateral.

         Section 3.  Representations and Warranties of the Pledgor.  The Pledgor
represents, warrants, and covenants to the Pledgee as follows:

<PAGE>

         (a) the execution,  delivery and  performance of this Pledge  Agreement
and the pledging of the Collateral  hereunder do not and will not conflict with,
result in a violation of, or constitute a default under,  any agreement  binding
upon the Pledgor;

         (b) the Pledged Shares are and will continue to be owned by the Pledgor
free and  clear of any  liens or rights  of any  other  person  except  the lien
hereunder and under the Loan Agreement in favor of the Pledgee, and the security
interest of the Pledgee in the Pledged  Shares and the  proceeds  thereof is and
will continue to be prior to and senior to the rights of all others;

         (c) this Pledge Agreement is the legal, valid,  binding and enforceable
obligation of the Pledgor in accordance with its terms;

         (d) the Pledgor shall,  from time to time, upon request of the Pledgee,
promptly  deliver  to the  Pledgee  such  stock  powers,  proxies,  and  similar
documents,  satisfactory  in form and substance to the Pledgee,  with respect to
the Collateral as the Pledgee may reasonable request; and

         (e) subject to the first  sentence of section  4(b),  the Pledgor shall
not, so long as any Liabilities are outstanding,  sell, assign, exchange, pledge
or  otherwise  transfer  or  encumber  any  of its  rights  in and to any of the
Collateral.

         Section 4.  Eligible Collateral.

         (a) As used herein the term "Eligible Collateral" shall mean the amount
of  Collateral  which has an aggregate  fair market value equal to the amount by
which the Pledgor is in default  (without  regard to any amounts owing solely as
the result of an  acceleration  of the Loan  Agreement) or such lesser amount of
Collateral as may be required pursuant to section 13 of this Pledge Agreement.

         (b) The Pledged Shares shall be released from this Pledge  Agreement in
a  manner  conforming  to  the  requirements  of  Treasury  Regulations  Section
54.4975-7(b)(8),  as the same may be from time to time amended or  supplemented,
and the  applicable  provisions of the ESOP.  Subject to such  Regulations,  the
Pledgee  may from  time to time,  after any  Default  or Event of  Default,  and
without  prior notice to the  Pledgor,  transfer all or any part of the Eligible
Collateral in the name of the Pledgee or its nominee,  without  disclosing  that
such  Eligible  Collateral  is subject to any rights of the Pledgor and may from
time to time,  whether before or after any of the  Liabilities  shall become due
and payable,  without  notice to the Pledgor,  take all or any of the  following
actions:  (i) notify the parties obligated on any of the Eligible  Collateral to
make payment to the Pledgee of any amounts due or due to become due  thereunder,
(ii)  release  or  exchange  all or any  part  of the  Eligible  Collateral,  or
compromise  or extend or renew for any period  (whether  or not longer  than the
original  period)  any  obligations  of any  nature  of any party  with  respect
thereto, and (iii) take control of any proceeds of the Eligible Collateral.

                                        2

<PAGE>

         Section 5.  Delivery.

         (a) The Pledgor  shall  deliver to the Pledgee  upon  execution of this
Pledge  Agreement  (i) either (A)  certificates  for the  Pledged  Shares,  each
certificate  duly  signed  in blank by the  Pledgor  or  accompanied  by a stock
transfer  power duly signed in blank by the  Pledgor  and each such  certificate
accompanied  by all required  documentary or stock transfer tax stamps or (B) if
the Trustee does not yet have possession of the Pledged Shares, an assignment by
the Pledgor of all the  Pledgor's  rights to and interest in the Pledged  Shares
and  (ii) an  irrevocable  proxy,  in form  and  substance  satisfactory  to the
Pledgee, signed by the Pledgor with respect to the Pledged Shares.

         (b) So long as no Default or Event of Default  shall have  occurred and
be continuing,  (i) the Pledgor shall be entitled to exercise any and all voting
and other  rights  pertaining  to the  Collateral  or any part  thereof  for any
purpose not inconsistent with the terms of this Pledge  Agreement,  and (ii) the
Pledgor  shall  be  entitled  to  receive  any and all cash  dividends  or other
distributions paid in respect of the Collateral.

         Section 6.  Events of Default.

         (a) If a Default or Event Default shall be existing, in addition to the
rights it may have  under the Loan  Agreement,  the  Promissory  Note,  and this
Pledge  Agreement,  or by virtue of any other  instrument,  (i) the  Pledgee may
exercise, with respect to the Eligible Collateral, from time to time, any rights
and remedies available to it under the Uniform Commercial Code as in effect from
time to time in the State of Delaware or otherwise  available to it and (ii) the
Pledgee  shall  have the  right,  for and in the  name,  place  and stead of the
Pledgor, to execute endorsement, assignments, stock powers and other instruments
of conveyance or transfer with respect to all or any of the Eligible Collateral.
Written  notification of intended  disposition of any of the Eligible Collateral
shall be given by the Pledgee to the Pledgor at least  three (3)  Business  Days
before  such  disposition.  Subject  to section 13 below,  any  proceeds  of any
disposition of Eligible  Collateral may be applied by the Pledgee to the payment
of expenses in  connection  with the  Eligible  Collateral,  including,  without
limitation,  reasonable  attorneys's fees and legal expenses, and any balance of
such  proceeds  may be applied by the Pledgee  toward the payment of such of the
Liabilities as are in Default, and in such order of application,  as the Pledgee
may from time to time elect. No action of the Pledgee permitted  hereunder shall
impair or affect its rights in and to the  Eligible  Collateral.  All rights and
remedies of the Pledgee expressed  hereunder are in addition to all other rights
and remedies possessed by it, including,  without limitation, those contained in
the documents referred to in the definition of Liability in section 1 hereof.

         (b) In any sale of any of the Eligible Collateral after a Default or an
Event of Default shall have occurred, the Pledgee is hereby authorized to comply
with any  limitation or  restriction  in connection  with such sale as it may be
advised by counsel is necessary in order to avoid  violation of  applicable  law
(including, without limitation,  compliance with such procedures as may restrict
the number of  prospective  bidders  and  purchasers  or further  restrict  such
prospective  bidders or purchasers to persons who will  represent and agree that
they are purchasing for their own account

                                        3

<PAGE>

for  investment  and  not  with a view to the  distribution  or  resale  of such
Eligible  Collateral),  or in order to obtain such required approval of the sale
or of the purchase by any governmental regulatory authority or official, and the
Pledgor  further  agrees  that such  compliance  shall not result in such sale's
being  considered or deemed not to have been made in a  commercially  reasonable
manner,  nor shall the Pledgee be liable or  accountable  to the Pledgor for any
discount allowed by reason of the fact that such Eligible  Collateral is sold in
compliance with any such limitation or restriction.

         Section 7. Payment in Full. Upon the payment in full of all outstanding
Liabilities,  this  Pledge  Agreement  shall  terminate  and the  Pledgee  shall
forthwith  assign,  transfer  and deliver to the  Pledgor,  against  receipt and
without  recourse  to the  Pledgee,  all  Collateral  then  held by the  Pledgee
pursuant to the Pledge Agreement.

         Section 8. No Waiver. No failure or delay in the part of the Pledgee in
exercising  any right or remedy  hereunder  or under  any other  document  which
confers or grants any rights in the Pledgee in respect of the Liabilities  shall
operate as a waiver thereof nor shall any single or partial exercise of any such
rights or remedy preclude any other or further  exercise thereof or the exercise
of any other right or remedy of the Pledgee.

         Section 9. Binding  Effect;  No Assignment or  Delegation.  This Pledge
Agreement  shall be binding  upon and inure to the benefit of the  Pledgor,  the
Pledgee and their respective successors and assigns, except that the Pledgor may
not assign or transfer it rights hereunder  without the prior written consent of
the Pledgee (which  consent shall not  unreasonably  be withheld).  Each duty or
obligation  of the Pledgor to the Pledgee  pursuant  to the  provisions  of this
Pledge Agreement shall be performed in favor of any person or entity  designated
by the Pledgee,  and any duty or obligation of the Pledgee to the Pledgor may be
performed by any other person or entity designated by the Pledgee.

         Section 10.  Governing Law. This Pledge  Agreement shall be governed by
and construed in accordance with the laws of the State of Delaware applicable to
agreements to be performed wholly within the State of Delaware.

         Section 11. Notices. All notices,  requests,  instructions or documents
hereunder shall be in writing and delivered  personally or sent by United States
mail,  registered or certified,  return receipt  requested,  with proper postage
prepaid as follows:

         (a)     If to the Pledgee:
                 Lawrence Financial Holdings, Inc.
                 311 South Fifth Street
                 Ironton, Ohio  45638-1609

         (b)     If to the Pledgor:

                     Lawrence Federal Savings Bank Employee Stock Ownership Plan

                                        4

<PAGE>

or at such  other  address as either of the  parties  may  designate  by written
notice to the other party. If delivered personally,  the date on which a notice,
request,  instruction  or document is delivered  shall be the date on which such
delivery  is made,  and,  if  deliver by mail,  the date on which  such  notice,
request,  instruction, or document is deposited in the mail shall be the date of
delivery. Each notice,  request,  instruction or document shall bear the date on
which it is delivered.

         Section 12.  Interpretation.  Wherever  possible each provision of this
Pledge  Agreements  shall be  interpreted  in such manner as to be effective and
valid under  applicable law, but if any provision  herein shall be prohibited by
or invalid under such law, such provision  shall be ineffective to the extent of
such  prohibition or  invalidity,  with out  invalidating  the remainder of such
provision or the remaining provisions hereof.

         Section 13.  Construction.  All provisions hereof shall be construed so
as to maintain (a) the ESOP as a qualified  leveraged  employee stock  ownership
plan under section  401(a) and  4975(e)(7) of the Internal  Revenue Code of 1986
(the "Code"),  (b) the Trust as exempt from taxation under section 501(a) of the
Code and (c) the Trust Loan as an exempt loan under section  54.4975-7(b) of the
Treasury  Regulations and as described in Department of Labor Regulation section
2550.408b-3.

         IN WITNESS WHEREOF, this Pledge Agreement has been duly executed by the
parties hereto as of the day and year first above written.

                                            LAWRENCE FEDERAL SAVINGS BANK
                                            EMPLOYEE STOCK OWNERSHIP PLAN TRUST

                                            ____________________________________
                                            ____________________, as Trustee

                                            LAWRENCE FINANCIAL HOLDINGS, INC.

                                            By:__________________________
                                               For the Entire Board of Directors

                                        5

<PAGE>

                                     FORM OF
                                 PROMISSORY NOTE

                                                                __________, 200_
PRINCIPAL

         FOR VALUE RECEIVED, the undersigned,  the LAWRENCE FEDERAL SAVINGS BANK
EMPLOYEE STOCK OWNERSHIP PLAN TRUST ("Borrower"),  hereby promises to pay to the
order of LAWRENCE FINANCIAL HOLDINGS,  INC. ("Lender")  _____________ payable in
accordance  with the Loan  Agreement  made and entered into between the Borrower
and the Lender of even date herewith ("Loan  Agreement")  pursuant to which this
Promissory Note is issued.

         The  Principal  Amount of this  Promissory  Note  shall be  payable  in
accordance with the schedule attached hereto ("Schedule I").

         This  Promissory Note shall bear interest at the rate per annum set for
or  established  under  the Loan  Agreement,  such  interest  to be  payable  in
accordance with Schedule I.

         Anything herein to the contrary notwithstanding,  the obligation of the
Borrower to make payments of interest  shall be subject to the  limitation  that
payments  of  interest  shall not be  required  to be made to the  Lender to the
extent that the Lender's receipt thereof would not be permissible  under the law
or laws applicable to the Lender limiting rates on interest which may be charged
or collected by the Lender.  Any such payments on interest which are not made as
a result of the limitation  referred to in the preceding  sentence shall be made
by the Borrower to the Lender on the earliest  interest payment date or dates on
which the receipt thereof would be permissible  under the laws applicable to the
Lender  limiting  rates of  interest  which may be charges or  collected  by the
Lender. Such deferred interest shall not bear interest.

         Payments of both principal and interest on this  Promissory Note are to
be made at the principal  office of the Lender or such other place as the holder
hereof shall designate to the Borrower in writing, in lawful money of the United
States of America in immediately available funds.

         Failure to make any payments of principal on this  Promissory Note when
due,  or failure to make any payment of  interest  on this  Promissory  Note not
later than five (5) Business  Days after the date when due,  shall  constitute a
default  hereunder,  whereupon the principal  amount of accrued interest on this
Promissory Note shall immediately  become due and payable in accordance with the
terms of the Loan Agreement.

<PAGE>

         This  Promissory  Note is secured  by a Pledge  Agreement  between  the
Borrower  and the Lender of even date  herewith  and is entitled to the benefits
thereof.

                                            LAWRENCE FEDERAL SAVINGS BANK
                                            EMPLOYEE STOCK OWNERSHIP PLAN TRUST

                                            ______________________
                                            ______________________, as Trustee

                                        2

<PAGE>

                                     FORM OF
                                 LOAN AGREEMENT

         THIS LOAN AGREEMENT ("Loan Agreement") is made and entered in as of the
___ day of _______________________,  by and between the LAWRENCE FEDERAL SAVINGS
BANK EMPLOYEE STOCK OWNERSHIP PLAN TRUST  ("Borrower"),  a trust forming part of
the Lawrence  Federal Savings Bank Employee Stock  Ownership Plan ("ESOP");  and
LAWRENCE  FINANCIAL  HOLDINGS,  INC.  ("Lender"),  a  corporation  organized and
existing under the laws of the State of Delaware.

                               W I T N E S S E T H

         WHEREAS,  the Borrower is authorized to purchase shares of common stock
of Lawrence  Financial  Holdings,  Inc. ("Common  Stock"),  either directly from
Lawrence Financial  Holdings,  Inc. or in open market purchases in an amount not
to exceed _____________ shares of Common Stock.

         WHEREAS, the Borrower is authorized to borrow funds from the Lender for
the purpose of financing authorized purchases of Common Stock; and

         WHEREAS,  the Lender is willing to make a loan to the Borrower for such
purpose:

         NOW, THEREFORE, the parties agree hereto as follows:

                                    ARTICLE I

                                   DEFINITIONS

         The  following  definitions  shall  apply  for  purposes  of this  Loan
Agreement, except to the extent that a different meaning is plainly indicated by
the context:

         Business  Day means any day other than a Saturday,  Sunday or other day
on which banks are authorized or required to close under federal or local law.

         Code  means  the  Internal   Revenue  Code  of  1986   (including   the
corresponding provisions of any succeeding law).

         Default means an event or condition which would  constitute an Event of
Default.  The determination as to whether an event or condition would constitute
an Event of  Default  shall  be  determined  without  regard  to any  applicable
requirements of notice or lapse of time.

         ERISA means the Employee  Retirement  Income  Security Act of 1974,  as
amended (including the corresponding provisions of any succeeding law).

         Event of Default means an event or condition described in Article 5.

<PAGE>

         Loan means the loan described in section 2.1

         Loan Documents means, collectively,  the Loan Agreement, the Promissory
Note and the Pledge Agreement and all other documents now or hereafter  executed
and  delivered in connection  with such  documents,  including  all  amendments,
modifications and supplements of or to all such documents.

         Pledge Agreement means the agreement described in section 2.8(a).

         Principal  Amount  means  the  face  amount  of  the  Promissory  Note,
determined as set forth in section 2.1(c).

         Promissory Note means the promissory note described in section 2.3.

         Register means the register described in section 2.9.

                                   ARTICLE II

                           THE LOAN; PRINCIPAL AMOUNT;
                       INTEREST; SECURITY; INDEMNIFICATION

         Section 2.1  The Loan; Principal Amount.

         (a) The Lender hereby  agrees to lend to the Borrower such amount,  and
at such time, as shall be determined under this Section 2.1; provided,  however,
that in no event shall the aggregate  amount lent under this Loan Agreement from
time to time  exceed the  greater of (i)  $_____________  or (ii) the  aggregate
amount paid by the  Borrower to  purchase up to  _____________  shares of Common
Stock.

         (b) Subject to the  limitations of Section  2.1(a),  the Borrower shall
determine the amounts borrowed under this Agreement,  and the time at which such
borrowings are effected. Each such determination shall be evidenced in a writing
which shall set forth the amount to be borrowed and the date on which the Lender
shall disburse such amount, and such writing shall be furnished to the Lender by
notice from the Borrower.  The Lender shall  disburse to the Borrower the amount
specified  in each such notice on the date  specified  therein or, if later,  as
promptly as practicable following the Lender's receipt of such notice; provided,
however,  that the Lender shall have no obligation to disburse funds pursuant to
this  Agreement  following  the  occurrence  of a Default or an Event of Default
until such time as such Default or Event of Default shall have been cured.

         (c) For all purposes of this Loan  Agreement,  the Principal  Amount on
any date shall be equal to the excess, if any, of:

                                        2

<PAGE>

          (i) the aggregate  amount  disbursed by the Lender pursuant to section
          2.1(b) on or before such date; over

          (ii) the  aggregate  amount of any  repayments  of such  amounts  made
          before such date.

The Lender  shall  maintain on the Register a record of, and shall record in the
Promissory Note, the Principal  Amount,  any changes in the Principal Amount and
the effective date of any changes in the Principal Amount.

         Section 2.2 Interest.

         (a) The  Borrower  shall pay to the Lender  interest  on the  Principal
Amount,  for the period  commencing  with the first  disbursement of funds under
this Loan Agreement and continuing  until the Principal  Amount shall be paid in
full, at the rate of _________ per annum.  Interest payable under this Agreement
shall be  computed  on the basis of a year of 365 days and actual  days  elapsed
(including the first day but excluding the last) occurring  during the period to
which the computation relates.

         (b) Accrued  interest on the  Principal  Amount shall be payable by the
Borrower  on the dates set  forth in  Schedule  I to the  Promissory  Note.  All
interest on the  Principal  Amount shall be paid by the Borrower in  immediately
available funds.

         (c)  Anything  in the  Loan  Agreement  or the  Promissory  Note to the
contrary  notwithstanding,  the  obligation  of the Borrower to make payments of
interest shall be subject to the limitation  that payments of interest shall not
be  required to be made to the Lender to the extent  that the  Lender's  receipt
thereof would not be permissible  under the law or laws applicable to the Lender
limiting rates of interest which may be charged or collected by the Lender.  Any
such payment referred to in the preceding sentence shall be made by the Borrower
to the  Lender  on the  earliest  interest  payment  date or dates on which  the
receipt  thereof would be  permissible  under the laws  applicable to the Lender
limiting rates of interest which may be charged or collected by the Lender. Such
deferred interest shall not bear interest.

         Section 2.3 Promissory Note.

         The Loan shall be  evidenced  by the  Promissory  Note of the  Borrower
attached  hereto  as an  exhibit  payable  to the  order  of the  lender  in the
Principal Amount and otherwise duly completed.

         Section 2.4 Payment of Trust Loan.

         The  Principal  Amount of the Loan shall be repaid in  accordance  with
Schedule I to the  Promissory  Note on the dates  specified  therein until fully
paid.

                                        3

<PAGE>

         Section 2.5 Prepayment.

         The Borrower  shall be entitled to prepay the Loan in whole or in part,
at any time and from time to time;  provided,  however,  that the Borrower shall
give notice to the Lender of any such prepayment;  and provided,  further,  that
any partial  prepayment  of the Loan shall be in an amount not less than $1,000.
Any such prepayment shall be: (a) permanent and irrevocable;  (b) accompanied by
all accrued  interest  through  the date of such  prepayment;  (c) made  without
premium or penalty;  and (d) applied on the inverse order of the maturity of the
installment  thereof  unless  the Lender  and the  Borrower  agree to apply such
prepayments in some other order.

         Section 2.6 Method of Payments.

         (a) All  payments of  principal,  interest,  other  charges  (including
indemnities)  and other amounts payable by the Borrower  hereunder shall be made
in lawful money of the United States,  in immediately  available  funds,  to the
Lender at the  address  specified  in or  pursuant  to this Loan  Agreement  for
notices to the Lender,  on the date on which such payment  shall become due. Any
such  payment  made on such date but after such time  shall,  if the amount paid
bears  interest,  and except as expressly  provided to the contrary  herein,  be
deemed  to have been made on,  and  interest  shall  continue  to accrue  and be
payable  thereon  until,  the next  succeeding  Business  Day. If any payment of
principal  or  interest  becomes  due on a day other than a Business  Day,  such
payment may be made on the next  succeeding  Business  Day, and when paid,  such
payment shall include interest to the day on which payment is in fact made.

         (b)  Notwithstanding  anything to the  contrary  contained in this Loan
Agreement or the  Promissory  Note,  the Borrower shall not be obligated to make
any payment,  repayment or prepayment on the  Promissory  Note if doing so would
cause  the ESOP to cease to be an  employee  stock  ownership  plan  within  the
meaning of section  4975(e)(7) of the Code or qualified  under section 401(a) of
the Code or cause the Borrower to cease to be a tax exempt  trust under  section
501(a) of the Code or if such act or failure to act would cause the  Borrower to
engage in any  "prohibited  transaction"  as such term is defined in the section
4975(c)  of the Code and the  regulations  promulgated  thereunder  which is not
exempted  by  section  4975(c)(2)  or  (d)  of  the  Code  and  the  regulations
promulgated   thereunder  or  in  section  406  of  ERISA  and  the  regulations
promulgated  thereunder which is not exempted by section 408(b) of ERISA and the
regulations  promulgated thereunder;  provided,  however, that in each case, the
Borrower,  may act or refrain from acting pursuant to this section 2.6(b) on the
basis of an opinion of counsel,  and any opinion of such  counsel.  The Borrower
may consult  with  counsel,  and any opinion of such  counsel  shall be full and
complete authorization and protection in respect of any action taken or suffered
or omitted by it hereunder in good faith and in accordance  with such opinion of
counsel. Nothing contained in this section 2.6(b) shall be construed as imposing
a duty on the Borrower to consult with counsel.  Any  obligation of the Borrower
to make any payment,  repayment or prepayment on the Promissory  Note or refrain
from  taking  any other act  hereunder  or under the  Promissory  Note  which is
excused pursuant to this section 2.6(b) shall be considered a binding obligation
of the  Borrower,  or both,  as the case may be, for the purposes of  determined
whether a Default or Event of Default has occurred hereunder or

                                        4

<PAGE>

under the Promissory  Note and nothing in this section 2.6(b) shall be construed
as providing a defense to any remedies otherwise  available upon a Default or an
Event of Default hereunder (other than the remedy of specific performance).

         Section 2.7 Use of Proceeds of Loan.

         The  entire  proceeds  of the Loan shall be used  solely for  acquiring
shares of Common Stock, and for no other purpose whatsoever.

         Section 2.8 Security.

         (a) In order to secure the due payment and  performance by the Borrower
of all of its  obligations  under this Loan Agreement,  simultaneously  with the
execution  and  delivery of this Loan  Agreement by the  Borrower,  the Borrower
shall:

         (i)  pledge to the  Lender as  Collateral  (as  defined  in the  Pledge
         Agreement),  and  grant  to the  Lender  a first  priority  lien on and
         security  interest in, the Common Stock  purchased  with the  Principal
         Amount,  by the  execution  and  delivery  to the  lender of the Pledge
         Agreement attached hereto as an exhibit; and

         (ii) execute and deliver,  or cause to be executed and delivered,  such
         other agreement, instruments and documents as the Lender may reasonable
         require in order to effect the  purposes  of the Pledge  Agreement  and
         this Loan Agreement.

         (b)  The  Lender  shall  release  from  encumbrance  under  the  Pledge
Agreement and transfer to the  Borrower,  as of the date on which any payment or
repayment  of the  Principal  Amount is made, a number of shares of Common Stock
held as Collateral determined pursuant to the applicable provisions of the ESOP.

         Section 2.9 Registration of the Promissory Note.

         (a) The Lender shall maintain a Register providing for the registration
of the Principal  Amount and any stated interest and of transfer and exchange of
the Promissory Note. Transfer of the Promissory Note may be effected only by the
surrender of the old instrument and either the reissuance by the Borrower of the
old  instrument  to the new  holder or the  issuance  by the  Borrower  of a new
instrument to the new holder.  The old Promissory  Note so surrendered  shall be
canceled by the Lender and returned to the Borrower after such cancellation.

         (b) Any new  Promissory  Note issued  pursuant to section  2.9(a) shall
carry  the same  rights  to  interest  (unpaid  and to  accrue)  carried  by the
Promissory  Note so  transferred or exchanged so that there will not be any loss
or gain of interest on the note  surrender.  Such new  Promissory  Note shall be
subject to all of the  provisions  and  entitled to all of the  benefits of this
Agreement.  Prior to due presentment for registration or transfer,  the Borrower
may deem and treat the registered  holder of any  Promissory  Note as the holder
thereof for purposes of payment and other purposes. A notation

                                        5

<PAGE>

shall be made on each new  Promissory  Note of the  amount  of all  payments  of
principal and interest theretofore paid.

                                   ARTICLE III

                 REPRESENTATIONS AND WARRANTIES OF THE BORROWER

         The Borrower hereby represents and warrants to the Lender as follows:

         Section 3.1 Power, Authority, Consents.

         The  Borrower  has the power to execute,  deliver and perform this Loan
Agreement,  the Promissory  Note and Pledge  Agreements,  all of which have been
duly authorized by all necessary and proper corporate or other action.

         Section 3.2 Due Execution, Validity, Enforceability.

         Each of the Loan Documents,  including,  without limitation,  this Loan
Agreement, the Promissory Note and the Pledge Agreement, have been duly executed
and  delivered  by the  Borrower;  and each  constitutes  the valid and  legally
binding obligation of the Borrower, enforceable in accordance with its terms.

         Section 3.3 Properties, Priority of Liens.

         The liens which have been  created and granted by the Pledge  Agreement
constitute valid, first liens on the properties and assets covered by the Pledge
Agreement, subject to no prior or equal lien.

         Section 3.4 No Defaults, Compliance with Laws.

         The  Borrower  is not in  default  in any  material  respect  under any
agreement,  ordinance,  resolution,  decree,  bond,  note,  indenture,  order or
judgement  to  which  it is an party  or by  which  it is  bound,  or any  other
agreement or other  instrument by which any of the properties or assets owned by
it is materially affected.

         Section 3.5 Purchase of Common Stock.

         Upon  consummation of any purchase of Common Stock by the Borrower with
the proceeds of the Loan, the Borrower shall acquire valid, legal and marketable
title to all of the  Common  Stock so  purchased,  free and clear of any  liens,
other than a pledge to the Lender of the Common Stock so  purchased  pursuant to
the Pledge  Agreement.  Neither the execution and delivery of the Loan Documents
nor the performance of any obligation  thereunder violates any provisions of law
or  conflicts  with or results in a breach of or  creates  (with or without  the
giving of notice of lapse of

                                        6

<PAGE>

time, or both) a default under any agreement to which the Borrower is a party or
by which it is bound or any of its  properties  is  affected.  No consent of any
federal,  state, or local  governmental  authority,  agency, or other regulatory
body,  the  absence  of which  could  have a  materially  adverse  effect on the
Borrower or the Trustee,  is or was required to be obtained in  connection  with
the  execution,   delivery,  or  performance  of  the  Loan  Documents  and  the
transaction  contemplated therein or in connection therewith,  including without
limitation, with respect to the transfer of the shares of Common Stock purchased
with the proceeds of the Loan pursuant thereto.

         Section 3.6 ESOP; Contributions.

         As  of  the  effective  date  of  the  ESOP  sponsor's  mutual-to-stock
conversion,  the ESOP  and the  Borrower  will be duly  created,  organized  and
maintained  by  the  ESOP  sponsor  in  compliance  with  all  applicable  laws,
regulations  and rulings.  The ESOP will qualify as an "employee stock ownership
plan" as defined in section  4975(e)(7) of the Code.  The ESOP provides that the
ESOP sponsor may make contributions to the ESOP in an amount necessary to enable
the Trustee to amortize the Loan in accordance  with the terms of the Promissory
Note;  provided,  however,  that no such contributions shall be required if they
would adversely affect the qualification of the ESOP under section 401(a) of the
Code.

         Section 3.7 Trustee.

         The trustees of the ESOP have been duly appointed by the ESOP sponsor.

         Section 3.8 Compliance with Laws; Actions.

         Neither  the  execution  and  delivery  by the  Borrower  of this  Loan
Agreement or any instruments required thereby, nor compliance with the terms and
provisions of any such  documents by the lender,  constitutes a violation of any
provision of any law or any regulation, order, writ, injunction or decree or any
court  or  governmental  instrumentality,  or an  event  of  default  under  any
agreement, to which the Borrower is a party of which the Borrower is bound or to
which the Borrower is subject,  which violation or event of default would have a
material  adverse  effect on the  Borrower.  There is no  action  or  proceeding
pending or threatened  against either the ESOP or the Borrower  before any court
or administrative agency.

                                        7

<PAGE>

                                   ARTICLE IV

                  REPRESENTATIONS AND WARRANTIES OF THE LENDER

         The Lender hereby represents and warrants to the Borrower as follows:

         Section 4.1 Power, Authority, Consents.

         The Lender has the power to  execute,  deliver  and  perform  this Loan
Agreement,  the Pledge  Agreement  and all  documents  executed by the Lender in
connection  with the  Loan,  all of  which  have  been  duly  authorized  by all
necessary and proper  corporate or other action.  No consent,  authorization  or
approval or other action by any  governmental  authority or regulatory body, and
no notice by the  Lender  to, or  filing  by the  Lender  with any  governmental
authority or  regulatory  body is required for the due  execution,  delivery and
performance of this Loan Agreement.

         Section 4.2 Due Execution, Validity, Enforceability.

         This Loan  Agreement and the Pledge  Agreement  have been duly executed
and delivered by the Lender,  and each  constitutes a valid and legally  binding
obligation of the Lender, enforceable in accordance with its terms.

                                    ARTICLE V

                                EVENTS OF DEFAULT

         Section 5.1 Events of Default under Loan Agreement.

         Each of the  following  events shall  constitute  an "Event of Default"
hereunder:

         (a) Failure to make any payment or mandatory prepayment of principal of
the Promissory  Note when due, or failure to make any payment of interest on the
Promissory Note not later than five (5) Business Days after the date when due.

         (b) Failure by the  Borrower to perform or observe any term,  condition
or  covenant  of this  Loan  Agreement  or of any of the other  Loan  Documents,
including without limitation, the Promissory Note and the Pledge Agreement.

         (c) Any representation or warranty made in writing to the Lender in any
of the Loan Documents, or any certificate, statement or report made or delivered
in compliance with this Loan  Agreement,  shall have been false or misleading in
any material respect when made or delivered.

                                        8

<PAGE>

         Section 5.2 Lender's Rights upon Event of Default.

         If an Event of Default  under this Loan  Agreement  shall  occur and be
continuing,  the  Lender  shall have no rights to assets of the  Borrower  other
than: (a) contributions (other than contributions of Common Stock) that are made
by the ESOP sponsor to enable the Borrower to meet its  obligations  pursuant to
this  Loan  Agreement  and  earnings  attributable  to the  investment  of  such
contributions   and  (b)  "Eligible   Collateral"  (as  defined  in  the  Pledge
Agreement);  provided,  however,  that; (i) the value of the  Borrower's  assets
transferred to the Lender  following an Event of Default in  satisfaction of the
due and  unpaid  amount  of the Loan  shall not  exceed  the  amount in  default
(without  regard to amounts owing solely as a result of any  acceleration of the
Loan);  (ii) the Borrower's  assets shall be transferred to the Lender following
an Event of Default  only to the extent of the  failure of the  Borrower to meet
the  payment  schedule  of the Loan;  and (iii) all  rights of the Lender to the
Common  Stock  purchased  with the  proceeds  of the Loan  covered by the Pledge
Agreement  following  an Event of Default  shall be governed by the terms of the
Pledge Agreement.

                                   ARTICLE VI

                            Miscellaneous Provisions

         Section 6.1 Payments Due to the Lender.

         If any amount is payable by the Borrower to the Lender  pursuant to any
indemnity  obligation contained herein, then the Borrower shall pay, at the time
or times  provided  therefor,  any such  amount and shall  indemnify  the Lender
against and hold it harmless from any loss of damage  resulting  from or arising
out of the nonpayment or delay in payment of any such amount.  If any amounts as
to which the Borrower has so indemnified the Lender  hereunder shall be assessed
or levied  against  the  Lender,  the Lender may  notify the  Borrower  and make
immediate  payment  thereof,  together  with interest or penalties in connection
therewith,  and shall  thereupon  be  entitled  to and shall  receive  immediate
reimbursement  therefor  from the Borrower  together  with interest on each such
amount as  provided  in  section  2.2(c).  Notwithstanding  any other  provision
contained in this Loan  Agreement,  the covenants and agreements of the Borrower
contained in this section 6.1 shall survive:  (a) payment of the Promissory Note
and (b) termination of this Loan Agreement.

         Section 6.2 Payments.

         All  payments  hereunder  and under the  Promissory  Note shall be made
without set-off or counterclaim and in such amounts as may be necessary in order
that all such payments shall not be less than the amounts otherwise specified to
be paid  under  this Loan  Agreement  and the  Promissory  Note,  subject to any
applicable tax withholding requirements.  Upon payment in full of the Promissory
Note,  the Lender  shall mark such  Promissory  Note "Paid" and return it to the
Borrower.

                                        9

<PAGE>

         Section 6.3 Survival.

                  All  agreements,  representations  and warranties  made herein
shall survive the delivery of this Loan Agreement and the Promissory Note.

         Section 6.4 Modifications, Consents and Waivers; Entire Agreement.

         No  modification,  amendment  or  waiver  of or  with  respect  to  any
provision of this Loan Agreement,  the Promissory Note, the Pledge Agreement, or
any of the other Loan  Documents,  nor consent to any departure  from any of the
terms or conditions thereof,  shall in any event be effective unless it shall be
in writing and signed by the party against whom  enforcement  thereof is sought.
Any such waiver or consent shall be effective only in the specific  instance and
for the purpose for which given.  No consent to or demand on a party in any case
shall, of itself, entitle it to any other or further notice or demand in similar
or other  circumstances.  This Loan Agreement  embodies the entire agreement and
understanding  between  the Lender and the  Borrower  and  supersedes  all prior
agreements and understandings relating to the subject matter hereof.

         Section 6.5 Remedies Cumulative.

         Each and every right granted to the Lender hereunder or under any other
document delivered hereunder or in connection herewith,  or allowed it by law or
equity,  shall be cumulative  and may be exercised from time to time. No failure
on the part of the Lender or the holder of the Promissory Note to exercise,  and
no delay in exercising,  any right shall operate as a waiver thereof,  nor shall
any  single  or  partial  exercise  of any  right  preclude  any other or future
exercise  thereof  or the  exercise  of any other  right.  The due  payment  and
performance of the obligations  under the Loan Documents shall be without regard
to any  counterclaim,  right of offset or any other claim  whatsoever  which the
Borrower may have against the Lender and without regard to any other  obligation
of any nature whatsoever which the Lender may have to the Borrower,  and no such
counterclaim or offset shall be asserted by the Borrower in any action,  suit or
proceeding  instituted  by  the  Lender  for  payment  or  performance  of  such
obligations.

         Section 6.6 Further Assurances; Compliance with Covenants.

         At any time and from time to time, upon the request of the Lender,  the
Borrower  shall  execute,  deliver  and  acknowledge  or cause  to be  executed,
delivered and  acknowledged,  such further documents and instruments and do such
other acts and things as the  Lender  may  reasonably  request in order to fully
effect  the  terms of this Loan  Agreement,  the  Promissory  Note,  the  Pledge
Agreement,  the other Loan Documents and any other  agreements,  instruments and
documents delivered pursuant hereto or in connection with the Loan.

                                       10

<PAGE>

         Section 6.7 Notices.

         Except as  otherwise  specifically  provided  for  herein,  all notice,
requests, reports and other communications pursuant to this Loan Agreement shall
be in  writing,  either by letter  (delivered  by hand or  commercial  messenger
service or sent by  registered  or certified  mail,  return  receipt  requested,
except for routine reports  delivered in compliance with Article VI hereof which
may be sent by ordinary  first-class  mail) or telex or telecopier  addressed as
follows:

         (a)      If to the Borrower:

                  Lawrence Federal Savings Bank Employee Stock
                  Ownership Plan and Trust  c/o
                  _______________________, as ESOP trustee

         (b)      If to the Lender:

                  Lawrence Financial Holdings, Inc.
                  311 South Fifth Street
                  Ironton, Ohio  45638-1609

Any  notice,  request or  communication  hereunder  shall be deemed to have been
given on the day on which it is  delivered  by hand or by  commercial  messenger
service, or sent by telex or telecopier,  to such party at its address specified
above, or, if sent by mail, on the third Business Day after the day deposited in
the mail,  postage  prepaid,  addressed as  aforesaid.  Any party may change the
person or address to whom or which notices are to be given hereunder,  by notice
duly given hereunder; provided, however, that any such notice shall be deemed to
have  been  given  only  when  actually  received  by the  party  to  whom it is
addressed.

         Section 7.1 Counterparts.

         This Loan Agreement may be signed in any number of counterparts  which,
when taken together, shall constitute one and the same document.

         Section 7.2 Construction; Governing Law.

         The headings  used in the table of contents and in this Loan  Agreement
are for  convenience  only and shall not be deemed to  constitute a part hereof.
All uses herein of any gender or of singular or plural  terms shall be deemed to
include uses of the other  genders or plural or singular  terms,  as the context
may  require.  All  references  in this Loan  Agreement of an Article or section
shall be to an  Article  or section  of this Loan  Agreement,  unless  otherwise
specified.  This Loan Agreement,  the Promissory  Note, the Pledge Agreement and
the other Loan Documents  shall be governed by, and construed and interpreted in
accordance with, the laws of the State of Delaware.

                                       11

<PAGE>

         Section 7.3 Severability.

         Wherever  possible,  each  provision  of this Loan  Agreement  shall be
interpreted  in such manner as to be effective and valid under  applicable  law;
however, the provisions of this Loan Agreement are severable,  and if any clause
of provision  hereof shall be held invalid or  unenforceable in whole or in part
in any jurisdiction,  then such invalidity or unenforceability shall affect only
such clause or provision, or part thereof, in such jurisdiction and shall not in
any manner  affect such clause or  provision in any other  jurisdiction,  or any
other clause or provisions in this Loan Agreement in and  jurisdiction.  Each of
the  covenants,  agreements  and  conditions  contained  in this Loan  Agreement
independent,  and  compliance  by a party with any of them shall not excuse non-
compliance by such party with any other.  The Borrower shall not take any action
the effect of which shall  constitute a breach or violation of any  provision of
this Loan Agreement.

         Section 7.4 Binding Effect: No Assignment or Delegation.

         This Loan  Agreement  shall be binding upon and inure to the benefit of
the Borrower and its  successors  and the Lender and its successors and assigns.
The rights and  obligations of the Borrower  under this  Agreement  shall not be
assigned or delegated  without the prior written consent of the Lender,  and any
purported assignment or delegation without such consent shall be void.

         IN WITNESS  WHEREOF,  the parties have caused this Loan Agreement to be
executed as of the date first written above.

                                            LAWRENCE FEDERAL SAVING BANK
                                            EMPLOYEE STOCK OWNERSHIP PLAN TRUST

                                            ______________________
                                            _____________________, as Trustee

                                            LAWRENCE FINANCIAL HOLDINGS, INC.

                                            By:______________________

                                               For the Entire Board of Directors

                                       12FORM OF
                          LAWRENCE FEDERAL SAVINGS BANK
                              EMPLOYMENT AGREEMENT

         This AGREEMENT ("Agreement") is made effective as of__________,  by and
among Lawrence  Federal Savings Bank (the "Bank"),  a federally  chartered stock
savings  bank,  with its  principal  administrative  office at 311  South  Fifth
Street,  Ironton,  Ohio  45638-1609,   Lawrence  Financial  Holdings,   Inc.,  a
corporation  organized  under the laws of the  State of  Maryland,  the  holding
company for the Bank (the "Holding Company"), and______________ ("Executive").

         WHEREAS,  the Bank wishes to assure itself of the services of Executive
for the period provided in this Agreement; and

         WHEREAS,  Executive  is willing to serve in the employ of the Bank on a
full-time basis for said period.

         NOW,  THEREFORE,  in  consideration  of  the  mutual  covenants  herein
contained,  and upon the other terms and conditions  hereinafter  provided,  the
parties hereby agree as follows:

1. POSITION AND RESPONSIBILITIES.

         During the period of Executive's employment hereunder, Executive agrees
to  serve  as__________________________  of the  Bank.  Executive  shall  render
administrative  and  management  services  to the Bank  such as are  customarily
performed  by persons  situated  in a similar  executive  capacity.  During said
period,  Executive also agrees to serve, if elected,  as an officer and director
of the Holding Company or any subsidiary of the Bank.

2. TERMS AND DUTIES.

         (a) The period of Executive's  employment under this Agreement shall be
deemed to have  commenced as of the date first above written and shall  continue
for a period of thirty-six (36) full calendar months  thereafter.  Commencing on
the first anniversary date of this Agreement, and continuing on each anniversary
thereafter,  the  disinterested  members of the board of  directors  of the Bank
("Board") may extend the  Agreement an  additional  year such that the remaining
term of the Agreement  shall be thirty-six (36) months unless  Executive  elects
not to extend the term of this  Agreement by giving written notice in accordance
with  Section 8 of this  Agreement.  The Board  will  review the  Agreement  and
Executive's  performance  annually for purposes of determining whether to extend
the Agreement  and the  rationale  and results  thereof shall be included in the
minutes of the Board's meeting. The Board shall give notice to Executive as soon
as possible after such review as to whether the Agreement is to be extended.

         (b) During the period of Executive's  employment hereunder,  except for
periods of absence  occasioned  by illness,  reasonable  vacation  periods,  and
reasonable  leaves of absence,  Executive  shall  devote  substantially  all his
business time, attention, skill, and efforts to the faithful

<PAGE>

performance of his duties hereunder including activities and services related to
the  organization,  operation and  management of the Bank and  participation  in
community and civic organizations; provided, however, that, with the approval of
the Board,  as  evidenced  by a  resolution  of such  Board,  from time to time,
Executive  may serve,  or continue to serve,  on the boards of directors of, and
hold any other offices or positions in,  companies or  organizations,  which, in
such Board's judgment,  will not present any conflict of interest with the Bank,
or materially  affect the  performance  of Executive's  duties  pursuant to this
Agreement.

         (c)  Notwithstanding  anything  herein  to  the  contrary,  Executive's
employment  with the Bank may be terminated by the Bank or the Executive  during
the  term of  this  Agreement,  subject  to the  terms  and  conditions  of this
Agreement.

3. COMPENSATION AND REIMBURSEMENT.

         (a)  The  Bank  shall  pay  Executive  as   compensation  a  salary  of
$_______________ per year ("Base Salary"). Base Salary shall include any amounts
of  compensation  deferred by Executive  under any  tax-qualified  retirement or
welfare benefit plan or any other deferred compensation  arrangement  maintained
by the Bank.  Such Base Salary shall be payable in  accordance  with the regular
payroll practices of the Bank. During the period of this Agreement,  Executive's
Base Salary shall be reviewed at least  annually;  the first such review will be
made no later than one year from the date of this  Agreement.  Such review shall
be  conducted  by the  Board or by a  Committee  of the  Board,  delegated  such
responsibility by the Board. The Committee or the Board may increase Executive's
Base Salary at any time.  Any increase in Base Salary shall become "Base Salary"
for  purposes of this  Agreement.  In  addition to Base Salary  provided in this
Section  3(a),  the Bank shall also  provide  Executive,  at no premium  cost to
Executive,  with all such other benefits as are provided  uniformly to permanent
full-time  employees of the Bank.  In addition,  Executive  shall be entitled to
incentive compensation and bonuses as provided in any plan or arrangement of the
Bank in which Executive is eligible to participate.

         (b) Executive shall be entitled to participate in any employee  benefit
plans,  arrangements and perquisites  substantially equivalent to those in which
Executive was participating or otherwise deriving benefit from immediately prior
to the beginning of the term of this Agreement,  and the Bank will not,  without
Executive's prior written consent, make any changes in such plans,  arrangements
or perquisites  which would materially  adversely affect  Executive's  rights or
benefits  thereunder;  except to the extent such changes are made  applicable to
all  Bank  employees  on  a  non-discriminatory   basis.  Without  limiting  the
generality of the foregoing  provisions of this Subsection (b),  Executive shall
be entitled to  participate  in or receive  benefits under all plans relating to
stock  options,  restricted  stock awards,  stock  purchases,  pension,  thrift,
supplemental retirement,  profit-sharing,  employee stock ownership,  group life
insurance,  medical and other health and welfare  coverage,  education,  cash or
stock bonuses that are now or hereafter made available by the Bank to its senior
executives and key management  employees,  subject to and on a basis  consistent
with the terms, conditions and overall

                                      - 2 -

<PAGE>

administration of such plans and  arrangements.  Nothing paid to Executive under
any such plan or arrangement will be deemed to be in lieu of other  compensation
to which Executive is entitled under this Agreement.

         (c) The  Bank  shall  pay or  reimburse  Executive  for all  reasonable
expenses  incurred by Executive  performing his obligations under this Agreement
and may provide such  additional  compensation  in such form and such amounts as
the Board may from time to time determine.

4. PAYMENTS TO EXECUTIVE UPON AN EVENT OF TERMINATION.

         (a) Upon the occurrence of an Event of Termination  (as herein defined)
during  Executive's term of employment  under this Agreement,  the provisions of
this Section shall apply. As used in this  Agreement,  an "Event of Termination"
shall mean and include any one or more of the following:  (i) the termination by
the Bank of Executive's full-time employment hereunder for any reason other than
a termination  governed by Section 5(a) hereof,  or  Termination  for Cause,  as
defined in Section 7 hereof; (ii) Executive's resignation from the Bank's employ
upon  any  (A)   material   change   in   Executive's   function,   duties,   or
responsibilities, which change would cause Executive's position to become one of
lesser  responsibility,  importance,  or scope from the position and  attributes
thereof  described  in  Section  1 of this  Agreement,  unless  consented  to by
Executive,  (B) relocation of Executive's  principal place of employment by more
than 25 miles from its location at the effective date of this Agreement,  unless
consented  to  by  Executive,   (C)  material  reduction  in  the  benefits  and
perquisites  to Executive  from those being provided as of the effective date of
this  Agreement,  unless  consented  to  by  Executive,  (D)  a  liquidation  or
dissolution of the Bank or Holding  Company,  or (E) breach of this Agreement by
the Bank.  Upon the occurrence of any event  described in clauses (A), (B), (C),
(D),  or (E) above,  Executive  shall have the right to elect to  terminate  his
employment  under this  Agreement by  resignation  upon not less than sixty (60)
days prior  written  notice  given within six full months after the event giving
rise to said right to elect.

         (b) Upon the  occurrence  of an  Event of  Termination,  on the Date of
Termination,  as  defined  in  Section  8, the Bank  shall be  obligated  to pay
Executive,  or,  in the  event  of his  subsequent  death,  his  beneficiary  or
beneficiaries,  or his estate, as the case may be a sum equal to the sum of: (i)
Base Salary and bonuses in accordance  with Section 3(a) of this  Agreement that
would have been paid to Executive for the remaining  term of this  Agreement had
the Event of Termination not occurred;  and (ii) all benefits,  including health
insurance  in  accordance  with  Section  3(b) that would have been  provided to
Executive  for  the  remaining  term  of the  this  Agreement  had an  Event  of
Termination not occurred;  provided, however, that any payments pursuant to this
subsection and subsection  4(c) below shall not, in the aggregate,  exceed three
times Executive's  average annual  compensation for the five most recent taxable
years that  Executive  has been  employed by the Bank or such  lesser  number of
years in the event that Executive  shall have been employed by the Bank for less
than five  years.  In the event the Bank is not in  compliance  with its minimum
capital  requirements or if such payments  pursuant to this subsection (b) would
cause the Bank's  capital to be reduced  below its  minimum  regulatory  capital
requirements,  such  payments  shall be deferred  until such time as the Bank or
successor

                                      - 3 -

<PAGE>

thereto is in capital compliance.  At the election of Executive,  which election
is to be made prior to an Event of Termination, such payments shall be made in a
lump sum as of Executive's Date of Termination. In the event that no election is
made,  payment to  Executive  will be made on a monthly  basis in  approximately
equal  installments  during the remaining term of the  Agreement.  Such payments
shall not be reduced in the event Executive  obtains other employment  following
termination of employment.

         (c) Upon the occurrence of an Event of Termination, the Bank will cause
to be continued  life,  medical,  dental and disability  coverage  substantially
identical  to the  coverage  maintained  by the Bank or the Holding  Company for
Executive  prior to his  termination at no premium cost to Executive,  except to
the  extent  such  coverage  may be changed  in its  application  to all Bank or
Holding Company employees.  Such coverage shall cease upon the expiration of the
remaining term of this Agreement.

5. CHANGE IN CONTROL.

         (a) For purposes of this  Agreement,  a "Change in Control" of the Bank
or Holding  Company shall mean an event of a nature that:  (i) would be required
to be reported  in  response to Item 1 of the current  report on Form 8-K, as in
effect on the date  hereof,  pursuant  to Section 13 or 15(d) of the  Securities
Exchange Act of 1934,  as amended  (the  "Exchange  Act");  or (ii) results in a
Change in Control of the Bank or the Holding  Company  within the meaning of the
Home Owners' Loan Act of 1933, as amended, the Federal Deposit Insurance Act and
the Rules  and  Regulations  promulgated  by the  Office  of Thrift  Supervision
("OTS") (or its predecessor  agency), as in effect on the date hereof (provided,
that in  applying  the  definition  of Change in Control as set forth  under the
rules and  regulations  of the OTS, the Board shall  substitute its judgment for
that of the OTS); or (iii) without  limitation such a Change in Control shall be
deemed to have occurred at such time as (A) any "person" (as the term is used in
Sections  13(d) and 14(d) of the  Exchange  Act) is or becomes  the  "beneficial
owner"  (as  defined  in  Rule  13d-3  under  the  Exchange  Act),  directly  or
indirectly, of voting securities of the Bank or the Holding Company representing
25% or more of the Bank's or the Holding Company's outstanding voting securities
or right to acquire such securities except for any voting securities of the Bank
purchased  by the Holding  Company and any voting  securities  purchased  by any
employee benefit plan of the Bank or the Holding Company, or (B) individuals who
constitute  the Board on the date hereof (the  "Incumbent  Board") cease for any
reason to  constitute  at least a  majority  thereof,  provided  that any person
becoming a director subsequent to the date hereof whose election was approved by
a vote of at least  three-quarters  of the  directors  comprising  the Incumbent
Board, or whose  nomination for election by the Holding  Company's  stockholders
was approved by the same Nominating  Committee serving under an Incumbent Board,
shall be, for purposes of this clause (B), considered as though he were a member
of the Incumbent Board, or (C) a plan of reorganization,  merger, consolidation,
sale of all or  substantially  all the assets of the Bank or the Holding Company
or similar  transaction  occurs in which the Bank or Holding  Company is not the
resulting  entity;  provided,  however,  that such an event listed above will be
deemed to have  occurred  or to have been  effectuated  upon the  receipt of all
required  regulatory  approvals not including the lapse of any statutory waiting
periods.

                                      - 4 -

<PAGE>

         (b) If a Change in Control has occurred pursuant to Section 5(a) or the
Board has determined  that a Change in Control has occurred,  Executive shall be
entitled to the benefits  provided in  paragraphs  (c) and (d) of this Section 5
upon his  subsequent  termination  of  employment at any time during the term of
this Agreement due to: (1) Executive's  dismissal or (2)  Executive's  voluntary
resignation during the twelve (12) month period following the date of the Change
in  Control  following  any  demotion,  loss of  title,  office  or  significant
authority  or  responsibility,  material  reduction  in annual  compensation  or
benefits or  relocation  of his  principal  place of  employment by more than 25
miles from its location immediately prior to the Change in Control,  unless such
termination is because of his death,  disability,  retirement or termination for
Cause.

         (c) Upon Executive's  entitlement to benefits pursuant to Section 5(b),
the Bank  shall pay  Executive,  or in the event of his  subsequent  death,  his
beneficiary or beneficiaries,  or his estate, as the case may be, a sum equal to
the greater of: (1) Base Salary and bonuses in  accordance  with Section 3(a) of
this  Agreement that would have been paid to Executive for the remaining term of
this  Agreement had the event  described in Subsection (b) of this Section 5 not
occurred and all  benefits,  including  health  insurance,  in  accordance  with
Section 3(b) that would have been provided to Executive  for the remaining  term
of this  Agreement had the event  described in Subsection  (b) of this Section 5
not occurred; or (2) three (3) times Executive's Average Annual Compensation (as
defined  herein) for the five (5) most recent  taxable years that  Executive has
been  employed  by the Bank or such  lesser  number of years in the  event  that
Executive  shall  have been  employed  by the Bank for less than five (5) years.
Such "Average Annual  Compensation" shall include all taxable income paid by the
Bank,  including but not limited to, Base Salary,  commissions,  and bonuses, as
well as contributions on Executive's behalf to any pension and/or profit sharing
plan, retirement payments,  directors or committee fees and fringe benefits paid
or to be paid to  Executive  in any such year and payment of any  expense  items
without  accountability  or  business  purpose or that do not meet the  Internal
Revenue Service requirements for deductibility by the Bank;  provided,  however,
that any payment under this provision and subsection 5(d) below shall not exceed
three (3) times Executive's Average Annual  Compensation.  In the event the Bank
is not in compliance with its minimum  capital  requirements or if such payments
would  cause the  Bank's  capital  to be reduced  below its  minimum  regulatory
capital  requirements,  such payments  shall be deferred  until such time as the
Bank  or  successor  thereto  is in  capital  compliance.  At  the  election  of
Executive,  which  election  is to be made  prior to a Change in  Control,  such
payment shall be made in a lump sum as of Executive's  Date of  Termination.  In
the  event  that no  election  is made,  payment  to  Executive  will be made in
approximately  equal installments on a monthly basis over a period of thirty-six
(36)  months  following  Executive's  termination.  Such  payments  shall not be
reduced in the event Executive obtains other employment following termination of
employment.

         (d) Upon Executive's  entitlement to benefits pursuant to Section 5(b),
the Bank  will  cause to be  continued  life,  medical,  dental  and  disability
coverage  substantially  identical  to the coverage  maintained  by the Bank for
Executive prior to his severance at no premium cost to Executive,  except to the
extent that such coverage may be changed in its application for all Bank

                                      - 5 -

<PAGE>

employees on a non-discriminatory  basis. Such coverage and payments shall cease
upon the expiration of thirty-six (36) months following the Date of Termination.

6. CHANGE OF CONTROL RELATED PROVISIONS

         Notwithstanding  the  provisions  of Section  5, in no event  shall the
aggregate  payments or benefits to be made or afforded to  Executive  under said
paragraphs (the "Termination Benefits") constitute an "excess parachute payment"
under  Section 280G of the Internal  Revenue  Code of 1986,  as amended,  or any
successor  thereto,  and in order to avoid such a result,  Termination  Benefits
will be reduced, if necessary,  to an amount (the "Non-Triggering  Amount"), the
value of which is one  dollar  ($1.00)  less than an  amount  equal to three (3)
times Executive's  "base amount",  as determined in accordance with said Section
280G.  The  allocation of the reduction  required  hereby among the  Termination
Benefits provided by Section 5 shall be determined by Executive.

7. TERMINATION FOR CAUSE.

         The term  "Termination  for Cause"  shall mean  termination  because of
Executive's personal dishonesty, incompetence, willful misconduct, any breach of
fiduciary duty involving personal profit,  intentional failure to perform stated
duties,  willful  violation of any law, rule or  regulation  (other than traffic
violations  or similar  offenses)  or final  cease-and-desist  order or material
breach  of any  provision  of this  Agreement.  Notwithstanding  the  foregoing,
Executive shall not be deemed to have been Terminated for Cause unless and until
there  shall have been  delivered  to him a Notice of  Termination  which  shall
include a copy of a resolution duly adopted by the affirmative  vote of not less
than a majority of the members of the Board at a meeting of the Board called and
held for that purpose (after  reasonable  notice to Executive and an opportunity
for him, together with counsel,  to be heard before the Board),  finding that in
the good faith opinion of the Board,  Executive was guilty of conduct justifying
Termination  for  Cause  and  specifying  the  particulars  thereof  in  detail.
Executive shall not have the right to receive compensation or other benefits for
any period after the Date of Termination for Cause.  During the period beginning
on the date of the Notice of Termination  for Cause pursuant to Section 8 hereof
through the Date of  Termination  for Cause,  stock options and related  limited
rights granted to Executive under any stock option plan shall not be exercisable
nor shall any unvested  awards granted to Executive under any stock benefit plan
of the Bank, the Holding Company or any subsidiary or affiliate  thereof,  vest.
At the Date of  Termination  for Cause,  such stock options and related  limited
rights  and any  unvested  awards  shall  become  null and void and shall not be
exercisable  by or  delivered  to  Executive  at any  time  subsequent  to  such
Termination for Cause.

                                      - 6 -

<PAGE>

8. NOTICE.

         (a) Any  purported  termination  by the Bank or by  Executive  shall be
communicated by Notice of Termination to the other party hereto. For purposes of
this  Agreement,  a "Notice of  Termination"  shall mean a written  notice which
shall indicate the specific termination  provision in this Agreement relied upon
and shall set forth in reasonable detail the facts and circumstances  claimed to
provide a basis for termination of Executive's employment under the provision so
indicated.

         (b) "Date of  Termination"  shall mean the date specified in the Notice
of Termination (which, in the case of a Termination for Cause, shall not be less
than thirty (30) days from the date such Notice of Termination is given.).

         (c) If,  within  thirty  (30) days after any Notice of  Termination  is
given,  the party receiving such Notice of Termination  notifies the other party
that a dispute exists concerning the termination,  the Date of Termination shall
be the date on which the dispute is finally determined, either by mutual written
agreement  of  the  parties,  by a  binding  arbitration  award,  or by a  final
judgment,  order or decree of a court of  competent  jurisdiction  (the time for
appeal  therefrom  having  expired  and no appeal  having been  perfected)  and,
provided further,  that the Date of Termination shall be extended by a notice of
dispute  only if such  notice is given in good faith and the party  giving  such
notice  pursues  the  resolution  of such  dispute  with  reasonable  diligence.
Notwithstanding  the  pendency of any such  dispute,  in the event  Executive is
terminated for reasons other than  Termination for Cause, the Bank will continue
to pay  Executive  his Base Salary in effect when the notice  giving rise to the
dispute  was given until the  earlier  of: 1) the  resolution  of the dispute in
accordance  with this  Agreement or 2) the  expiration of the remaining  term of
this Agreement as determined as of the Date of  Termination.  Amounts paid under
this Section are in addition to all other  amounts due under this  Agreement and
shall not be  offset  against  or  reduce  any  other  amounts  due  under  this
Agreement.

9. POST-TERMINATION OBLIGATIONS.

         All payments and benefits to Executive  under this  Agreement  shall be
subject  to  Executive's  compliance  with this  Section 9 for one (1) full year
after  the  earlier  of the  expiration  of this  Agreement  or  termination  of
Executive's  employment with the Bank.  Executive shall, upon reasonable notice,
furnish  such  information  and  assistance  to the  Bank as may  reasonably  be
required by the Bank in connection with any litigation in which it or any of its
subsidiaries or affiliates is, or may become, a party.

10. NON-COMPETITION AND NON-DISCLOSURE OF BANK BUSINESS.

         (a) Upon any termination of Executive's  employment  hereunder pursuant
to Section 4 hereof,  Executive agrees not to compete with the Bank for a period
of one (1) year following such  termination in any city, town or county in which
Executive's  normal business office is located and the Bank has an office or has
filed an application for regulatory approval to establish

                                      - 7 -

<PAGE>

an office,  determined as of the effective date of such  termination,  except as
agreed to pursuant to a resolution duly adopted by the Board.  Executive  agrees
that during such period and within said cities,  towns and  counties,  Executive
shall not work for or advise,  consult or  otherwise  serve  with,  directly  or
indirectly,  any entity whose business  materially competes with the depository,
lending  or  other  business   activities  of  the  Bank.  The  parties  hereto,
recognizing  that  irreparable  injury will result to the Bank, its business and
property in the event of Executive's  breach of this Subsection 10(a) agree that
in the event of any such breach by  Executive,  the Bank,  will be entitled,  in
addition  to any other  remedies  and damages  available,  to an  injunction  to
restrain  the  violation  hereof by  Executive,  Executive's  partners,  agents,
servants,  employees  and all  persons  acting  for or under  the  direction  of
Executive.  Nothing  herein  will be  construed  as  prohibiting  the Bank  from
pursuing any other remedies  available to the Bank for such breach or threatened
breach, including the recovery of damages from Executive.

         (b) Executive  recognizes  and  acknowledges  that the knowledge of the
business activities and plans for business activities of the Bank and affiliates
thereof,  as it may exist from time to time,  is a valuable,  special and unique
asset of the business of the Bank.  Executive will not, during or after the term
of his  employment,  disclose  any  knowledge of the past,  present,  planned or
considered  business activities of the Bank or affiliates thereof to any person,
firm,  corporation,  or other  entity  for any  reason  or  purpose  whatsoever.
Notwithstanding the foregoing,  Executive may disclose any knowledge of banking,
financial and/or economic principles, concepts or ideas which are not solely and
exclusively derived from the business plans and activities of the Bank. Further,
Executive may disclose information regarding the business activities of the Bank
to the OTS and the Federal Deposit Insurance  Corporation ("FDIC") pursuant to a
formal  regulatory  request.  In the event of a breach or  threatened  breach by
Executive of the  provisions  of this  Section,  the Bank will be entitled to an
injunction  restraining  Executive  from  disclosing,  in whole or in part,  the
knowledge of the past, present, planned or considered business activities of the
Bank or affiliates thereof, or from rendering any services to any person,  firm,
corporation,  other entity to whom such knowledge, in whole or in part, has been
disclosed or is threatened to be disclosed.  Nothing herein will be construed as
prohibiting the Bank from pursuing any other remedies  available to the Bank for
such  breach or  threatened  breach,  including  the  recovery  of damages  from
Executive.

11. SOURCE OF PAYMENTS.

         (a) All  payments  provided in this  Agreement  shall be timely paid in
cash or check from the general funds of the Bank. The Holding Company,  however,
unconditionally guarantees payment and provision of all amounts and benefits due
hereunder to  Executive  and, if such amounts and benefits due from the Bank are
not timely paid or provided by the Bank, such amounts and benefits shall be paid
or provided by the Holding Company.

         (b) Notwithstanding any provision herein to the contrary, to the extent
that  payments  and  benefits,  as  provided by this  Agreement,  are paid to or
received  by  Executive  under the  Employment  Agreement  dated_______________,
between  Executive  and the Holding  Company,  such  compensation  payments  and
benefits paid by the Holding Company will be subtracted from

                                      - 8 -

<PAGE>

any amounts due  simultaneously  to Executive  under similar  provisions of this
Agreement. Payments pursuant to this Agreement and the Holding Company Agreement
shall be allocated in proportion  to the services  rendered and time expended on
such  activities by Executive as determined by the Holding  Company and the Bank
on a quarterly basis.

12. EFFECT ON PRIOR AGREEMENTS AND EXISTING BENEFITS PLANS.

         This Agreement  contains the entire  understanding  between the parties
hereto and supersedes  any prior  employment  agreement  between the Bank or any
predecessor  of the Bank and  Executive,  except that this  Agreement  shall not
affect or operate to reduce any benefit or compensation  inuring to Executive of
a kind elsewhere  provided.  No provision of this Agreement shall be interpreted
to mean that  Executive  is  subject  to  receiving  fewer  benefits  than those
available to him without reference to this Agreement.

13. NO ATTACHMENT.

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

         (b) This Agreement  shall be binding upon, and inure to the benefit of,
Executive and the Bank and their respective successors and assigns.

14. MODIFICATION AND WAIVER.

         (a)  This  Agreement  may  not be  modified  or  amended  except  by an
instrument in writing signed by the parties hereto.

         (b) No term or condition of this Agreement shall be deemed to have been
waived, nor shall there be any 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 such 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 as to any act other than that specifically
waived.

15. REQUIRED PROVISIONS.

         In the event any of the foregoing  provisions of this Section 15 are in
conflict with the terms of this Agreement, this Section 15 shall prevail.

         (a) The Bank may terminate Executive's  employment at any time, but any
termination by the Bank, other than  Termination for Cause,  shall not prejudice
Executive's right to

                                      - 9 -

<PAGE>

compensation  or other benefits under this  Agreement.  Executive shall not have
the  right to  receive  compensation  or other  benefits  for any  period  after
Termination for Cause as defined in Section 7 hereinabove.

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

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

         (d) If the Bank is in default  as  defined  in  Section  3(x)(1) of the
Federal Deposit  Insurance Act, 12 U.S.C.  ss.1813(x)(1)  all obligations of the
Bank under this  contract  shall  terminate as of the date of default,  but this
paragraph shall not affect any vested rights of the contracting parties.

         (e)  All   obligations  of  the  Bank  under  this  contract  shall  be
terminated, except to the extent determined that continuation of the contract is
necessary for the continued operation of the institution: (i) by the Director of
the OTS (or his designee), the FDIC or the Resolution Trust Corporation,  at the
time the FDIC enters into an agreement to provide  assistance to or on behalf of
the Bank under the authority  contained in Section 13(c) of the Federal  Deposit
Insurance Act, 12 U.S.C. ss.1823(c);  or (ii) by the Director of the OTS (or his
designee)  at the time the  Director (or his  designee)  approves a  supervisory
merger to resolve  problems  related to the  operations  of the Bank or when the
Bank is determined by the Director to be in an unsafe or unsound condition.  Any
rights of the parties that have already vested,  however,  shall not be affected
by such action.

         (f) Any  payments  made to  Executive  pursuant to this  Agreement,  or
otherwise,   are   subject  to  and   conditioned   upon   compliance   with  12
U.S.C.ss.1828(k)  and 12 C.F.R.  Section  545.121 and any rules and  regulations
promulgated thereunder.

                                     - 10 -

<PAGE>

16. REINSTATEMENT OF BENEFITS UNDER SECTION 15(b).

         In the event Executive is suspended and/or temporarily  prohibited from
participating  in the  conduct of the Bank's  affairs by a notice  described  in
Section  15(b) hereof (the  "Notice")  during the term of this  Agreement  and a
Change  in  Control,  as  defined  herein,  occurs,  the Bank  will  assume  its
obligation  to  pay  and  Executive  will  be  entitled  to  receive  all of the
termination  benefits  provided for under Section 5 of this  Agreement  upon the
Bank's receipt of a dismissal of charges in the Notice.

17. SEVERABILITY.

         If, for any reason, any provision of this Agreement, or any part of any
provision, is held invalid, such invalidity shall not affect any other provision
of this  Agreement or any part of such  provision not held so invalid,  and each
such other  provision and part thereof shall to the full extent  consistent with
law continue in full force and effect.

18. HEADINGS FOR REFERENCE ONLY.

         The headings of sections and 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.

19. GOVERNING LAW.

         The  validity,  interpretation,  performance  and  enforcement  of this
Agreement shall be governed by the laws of the State of Ohio, without regards to
principles  of  conflicts  of law of this  state,  but  only to the  extent  not
superseded by federal law.

20. ARBITRATION.

         Any dispute or  controversy  arising under or in  connection  with this
Agreement shall be settled exclusively by arbitration,  conducted before a panel
of three  arbitrators  sitting in a location  selected by Executive within fifty
(50) miles from the location of the Bank,  in  accordance  with the rules of the
American Arbitration  Association then in effect. Judgment may be entered on the
arbitrator's award in any court having  jurisdiction;  provided,  however,  that
Executive shall be entitled to seek specific performance of his right to be paid
until the Date of Termination  during the pendency of any dispute or controversy
arising under or in connection with this Agreement.

         In the event any dispute or controversy  arising under or in connection
with  Executive's  termination  is  resolved in favor of  Executive,  whether by
judgment, arbitration or settlement,  Executive shall be entitled to the payment
of all  back-pay,  including  salary,  bonuses and any other cash  compensation,
fringe  benefits and any  compensation  and benefits  due  Executive  under this
Agreement.

                                     - 11 -

<PAGE>

21. PAYMENT OF COSTS AND LEGAL FEES.

         All  reasonable  costs and legal  fees paid or  incurred  by  Executive
pursuant to any dispute or question of interpretation relating to this Agreement
shall be paid or reimbursed by the Bank if Executive is successful on the merits
pursuant to a legal judgment, arbitration or settlement.

22. INDEMNIFICATION.

         (a) The Bank shall provide  Executive  (including his heirs,  executors
and  administrators)  with coverage  under a standard  directors'  and officers'
liability insurance policy at its expense and shall indemnify Executive (and his
heirs,  executors and administrators) as permitted under federal law against all
expenses  and  liabilities  reasonably  incurred  by him in  connection  with or
arising out of any  action,  suit or  proceeding  in which he may be involved by
reason of his having been a director  or officer of the Bank  (whether or not he
continues to be a director or officer at the time of incurring  such expenses or
liabilities),  such expenses and liabilities to include,  but not be limited to,
judgments,   court  costs  and  attorneys'  fees  and  the  cost  of  reasonable
settlements.

         (b) Any payments made to Executive pursuant to this Section are subject
to and  conditioned  upon  compliance  with 12  U.S.C.ss.1828(k)  and 12  C.F.R.
Section 545.121 and any rules or regulations promulgated thereunder.

23. SUCCESSOR TO THE BANK

         The Bank shall  require any  successor or assignee,  whether  direct or
indirect,  by  purchase,   merger,   consolidation  or  otherwise,   to  all  or
substantially  all the  business or assets of the Bank or the  Holding  Company,
expressly  and  unconditionally  to  assume  and  agree to  perform  the  Bank's
obligations under this Agreement, in the same manner and to the same extent that
the Bank would be required to perform if no such  succession or  assignment  had
taken place.

                                     - 12 -

<PAGE>

                                   SIGNATURES

         IN  WITNESS  WHEREOF,   Lawrence  Federal  Savings  Bank  and  Lawrence
Financial  Holdings,  Inc.  have caused this  Agreement to be executed and their
seals to be affixed  hereunto by their duly  authorized  officers and directors,
and Executive has signed this Agreement, on the __ day of _______________.

ATTEST:                                   LAWRENCE FEDERAL SAVINGS BANK

_____________________________             By:  _________________________________
                                               For the Entire Board of Directors

         [SEAL]

ATTEST:                                   LAWRENCE FINANCIAL HOLDINGS, INC.
                                            (Guarantor)

______________________________            By:  _________________________________
                                               For the Entire Board of Directors

         [SEAL]

WITNESS:                                                      EXECUTIVE

_______________________________                 ________________________________

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