Document:

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                                                                    EXHIBIT 10.h

                                   AGREEMENT

     AGREEMENT, dated this 16th day of November 1999, between ESB Financial
Corporation (the "Corporation"), a Pennsylvania corporation, and Charlotte A.
Zuschlag  (the "Executive").

                                  WITNESSETH

     WHEREAS, the Executive is presently an officer of the Corporation and ESB
Bank, F.S.B. (the "Bank") (together, the "Employers");

     WHEREAS, the Employers desire to be ensured of the Executive's continued
active participation in the business of the Employers, and the Bank currently
has an agreement with the Executive dated June 13, 1990, which is being
superseded by this Agreement;

     WHEREAS, in accordance with Office of Thrift Supervision ("OTS") Regulatory
Bulletin 27a, the Corporation and the Bank desire to enter into separate
agreements with the Executive with respect to her employment by each of the
Employers; and

     WHEREAS, in order to induce the Executive to remain in the employ of the
Employers and in consideration of the Executive's agreeing to remain in the
employ of the Employers, the parties desire to specify the severance benefits
which shall be due the Executive by the Corporation in the event that her
employment with the Corporation is terminated under specified circumstances;

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

     1.   Definitions.  The following words and terms shall have the meanings
set forth below for the purposes of this Agreement:

     (a)  Average Annual Compensation.  The Executive's "Average Annual
Compensation" for purposes of this Agreement shall be deemed to mean the average
level of compensation paid to the Executive by the Employers or any subsidiary
thereof during the most recent five taxable years preceding the Date of
Termination and included in the Executive's gross income for tax purposes and
any income earned and deferred by the Executive pursuant to any plan or
arrangement of the Employers.

     (b)  Base Salary. "Base Salary" shall have the meaning set forth in Section
3(a) hereof.

     (c)  Cause. Termination of the Executive's employment for "Cause" shall
mean termination because of personal dishonesty, incompetence, willful
misconduct, breach of fiduciary duty involving personal profit, intentional
failure to perform stated duties, willful violation of any law, rule or
regulation (other than traffic violations or similar offenses) or final cease-
and-desist order or material breach of any provision of this Agreement.
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     (d)  Change in Control of the Corporation. "Change in Control of the
Corporation" shall mean a change in control of a nature that would be required
to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A
promulgated under the Securities Exchange Act of 1934, as amended ("Exchange
Act"), or any successor thereto, whether or not the Corporation is registered
under the Exchange Act; provided that, without limitation, such a change in
control shall be deemed to have occurred if (i) any "person" (as such 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 securities of the Corporation representing 25% or more of the
combined voting power of the Corporation's then outstanding securities; or (ii)
during any period of two consecutive years, individuals who at the beginning of
such period constitute the Board of Directors of the Corporation cease for any
reason to constitute at least a majority thereof unless the election, or the
nomination for election by stockholders, of each new director was approved by a
vote of at least two-thirds of the directors then still in office who were
directors at the beginning of the period.

     (e)  Code. "Code" shall mean the Internal Revenue Code of 1986, as amended.

     (f)  Date of Termination.  "Date of Termination" shall mean (i) if the
Executive's employment is terminated for Cause or for Disability, the date
specified in the Notice of Termination, and (ii) if the Executive's employment
is terminated for any other reason, the date on which a Notice of Termination is
given or as specified in such Notice.

     (g)  Disability.  Termination by the Corporation of the Executive's
employment based on "Disability" shall mean termination because of any physical
or mental impairment which qualifies the Executive for disability benefits under
the applicable long-term disability plan maintained by the Employers or any
subsidiary or, if no such plan applies, which would qualify the Executive for
disability benefits under the Federal Social Security System.

     (h)  Good Reason.  Termination by the Executive of the Executive's
employment for "Good Reason" shall mean termination by the Executive following a
Change in Control of the Corporation based on:

          (i)    Without the Executive's express written consent, the failure to
                 elect or to re-elect or to appoint or to re-appoint the
                 Executive to the offices of President and Chief Executive
                 Officer of the Employers or a material adverse change made by
                 the Employers in the Executive's functions, duties or
                 responsibilities as President and Chief Executive Officer of
                 the Employers;

          (ii)   Without the Executive's express written consent, a reduction by
                 either of the Employers in the Executive's Base Salary as the
                 same may be increased from time to time or, except to the
                 extent permitted by Section 3(b) hereof, a
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                 reduction in the package of fringe benefits provided to the
                 Executive, taken as a whole;

          (iii)  The principal executive office of either of the Employers is
                 relocated outside of the Ellwood City, Pennsylvania area or,
                 without the Executive's express written consent, either of the
                 Employers require the Executive to be based anywhere other than
                 an area in which the Employers' principal executive office is
                 located, except for required travel on business of the
                 Employers to an extent substantially consistent with the
                 Executive's present business travel obligations;

          (iv)   Any purported termination of the Executive's employment for
                 Cause, Disability or Retirement which is not effected pursuant
                 to a Notice of Termination satisfying the requirements of
                 paragraph (j) below; or

          (v)    The failure by the Corporation to obtain the assumption of and
                 agreement to perform this Agreement by any successor as
                 contemplated in Section 9 hereof.

     (i)  IRS.  IRS shall mean the Internal Revenue Service.

     (j)  Notice of Termination.  Any purported termination of the Executive's
employment by the Corporation for any reason, including without limitation for
Cause, Disability or Retirement, or by the Executive for any reason, including
without limitation for Good Reason, shall be communicated by written "Notice of
Termination" to the other party hereto.  For purposes of this Agreement, a
"Notice of Termination" shall mean a dated notice which (i) indicates the
specific termination provision in this Agreement relied upon, (ii) sets forth in
reasonable detail the facts and circumstances claimed to provide a basis for
termination of the Executive's employment under the provision so indicated,
(iii) specifies a Date of Termination, which shall be not less than thirty (30)
nor more than ninety (90) days after such Notice of Termination is given, except
in the case of the Corporation's termination of the Executive's employment for
Cause, which shall be effective immediately; and (iv) is given in the manner
specified in Section 10 hereof.

     (k)  Retirement.  "Retirement" shall mean voluntary termination by the
Executive in accordance with the Employers' retirement policies, including early
retirement, generally applicable to their salaried employees.

     2.   Term of Employment.

     (a)  The Corporation hereby employs the Executive as President and Chief
Executive Officer and the Executive hereby accepts said employment and agrees to
render such services to the Corporation on the terms and conditions set forth in
this Agreement.  The term of employment under
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this Agreement shall be for three years, commencing on the date of this
Agreement and, upon approval of the Board of Directors of the Corporation, shall
extend for an additional year on each annual anniversary of the date of this
Agreement such that at any time the remaining term of this Agreement shall be
from two to three years. Prior to the first annual anniversary of the date of
this Agreement and each annual anniversary thereafter, the Board of Directors of
the Corporation shall consider and review (with appropriate corporate
documentation thereof, and after taking into account all relevant factors,
including the Executive's performance hereunder) an extension of the term of
this Agreement, and the term shall continue to extend each year if the Board of
Directors approves such extension unless the Executive gives written notice to
the Employers of the Executive's election not to extend the term, with such
written notice to be given not less than thirty (30) days prior to any such
anniversary date. If the Board of Directors elects not to extend the term, it
shall give written notice of such decision to the Executive not less than thirty
(30) days prior to any such anniversary date. If any party gives timely notice
that the term will not be extended as of any annual anniversary date, then this
Agreement shall terminate at the conclusion of its remaining term. References
herein to the term of this Agreement shall refer both to the initial term and
successive terms.

     (b)  During the term of this Agreement, the Executive shall perform such
executive services for the Corporation as may be consistent with her titles and
from time to time assigned to her by the Corporation's Board of Directors.

     3.   Compensation and Benefits.

     (a)  The Employers shall compensate and pay the Executive for her services
during the term of this Agreement at a minimum base salary of $284,000 per year
("Base Salary"), which may be increased from time to time in such amounts as may
be determined by the Boards of Directors of the Employers and may not be
decreased without the Executive's express written consent.  In addition to her
Base Salary, the Executive shall be entitled to receive during the term of this
Agreement such bonus payments as may be determined by the Boards of Directors of
the Employers.

     (b)  During the term of this Agreement, the Executive shall be entitled to
participate in and receive the benefits of any pension or other retirement
benefit plan, profit sharing, stock option, employee stock ownership, or other
plans, benefits and privileges given to employees and executives of the
Employers, to the extent commensurate with her then duties and responsibilities,
as fixed by the Boards of Directors of the Employers.  The Corporation shall not
make any changes in such plans, benefits or privileges which would adversely
affect the Executive's rights or benefits thereunder, unless such change occurs
pursuant to a program applicable to all executive officers of the Corporation
and does not result in a proportionately greater adverse change in the rights of
or benefits to the Executive as compared with any other executive officer of the
Corporation.  Nothing paid to the Executive under any plan or arrangement
presently in effect or made available in the future shall be deemed to be in
lieu of the salary payable to the Executive pursuant to Section 3(a) hereof.
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     (c)  During the term of this Agreement, the Executive shall be entitled to
paid annual vacation in accordance with the policies as established from time to
time by the Boards of Directors of the Employers, which shall in no event be
less than five weeks per annum.  The Executive shall not be entitled to receive
any additional compensation from the Employers for failure to take a vacation,
nor shall the Executive be able to accumulate unused vacation time from one year
to the next, except to the extent authorized by the Boards of Directors of the
Employers.

     (d)  During the term of this Agreement, in keeping with past practices, the
Employers shall continue to provide the Executive with the automobile she
presently drives. The Employers shall be responsible and shall pay for all costs
of insurance coverage, repairs, maintenance and other incidental expenses,
including license, fuel and oil.

     (e)  In the event the Executive's employment is terminated by the
Corporation for any reason other than Cause, the Employers shall provide
continued life, medical, dental and disability coverage substantially identical
to the coverage maintained by the Employers for the Executive immediately prior
to her termination.  Such coverage shall cease upon the expiration of the
remaining term of this Agreement.

     (f)  In the event of the Executive's death during the term of this
Agreement, her spouse, estate, legal representative or named beneficiaries (as
directed by the Executive in writing) shall be paid on a monthly basis the
Executive's annual compensation from the Employers at the rate in effect at the
time of the Executive's death for the remainder of the term of this Agreement,
as well as the benefits specified in Section 3(e) hereof.  In the event
Executive is terminated due to Disability during the term of this Agreement, the
Executive shall be paid on a monthly basis (i) the Executive's annual
compensation from the Employers at the rate in effect at the time of termination
due to Disability for the remainder of the term of this Agreement, as well as
the benefits specified in Section 3(e) hereof, and (ii) upon the expiration of
the term of this Agreement, two-thirds (66.67%) of the Executive's Base Salary
at the time of termination due to Disability until the Executive reaches the
normal retirement age of 65; provided however, there shall be deducted from the
amounts paid the Executive pursuant  to this Section 3(f), any amounts actually
paid to the Executive pursuant to any disability insurance or similar plan or
program which the Employers have instituted or may institute on behalf of the
Executive or its employees for the purpose of compensating employees in the
event of disability, the Social Security Act, the Workers Compensation or
Occupational Disease Act or any state disability benefit law.

     (g)  The Executive's compensation, benefits and expenses shall be paid by
the Corporation and the Bank in the same proportion as the time and services
actually expended by the Executive on behalf of each respective Employer.

     4.   Expenses.  The Employers shall reimburse the Executive or otherwise
provide for or pay for all reasonable expenses incurred by the Executive in
furtherance of or in connection with
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the business of the Employers, including, but not by way of limitation,
automobile expenses described in Section 3(d) hereof, and traveling expenses,
and all reasonable entertainment expenses (whether incurred at the Executive's
residence, while traveling or otherwise), subject to such reasonable
documentation and other limitations as may be established by the Boards of
Directors of the Employers. If such expenses are paid in the first instance by
the Executive, the Employers shall reimburse the Executive therefor.

     5.   Termination.

     (a)  The Corporation shall have the right, at any time upon prior Notice of
Termination, to terminate the Executive's employment hereunder for any reason,
including without limitation termination for Cause, Disability or Retirement,
and the Executive shall have the right, upon prior Notice of Termination, to
terminate her employment hereunder for any reason.

     (b)  In the event that (i) the Executive's employment is terminated by the
Corporation for Cause or (ii) the Executive terminates her employment hereunder
other than for Disability, Retirement, death or Good Reason, the Executive shall
have no right pursuant to this Agreement to compensation or other benefits for
any period after the applicable Date of Termination.

     (c)  In the event that the Executive's employment is terminated as a result
of Disability, Retirement or the Executive's death during the term of this
Agreement, the Executive shall have no right pursuant to this Agreement to
compensation or other benefits for any period after the applicable Date of
Termination, except as provided for in Sections 3(e) and 3(f) hereof.

     (d)  In the event that (i) the Executive's employment is terminated by the
Corporation for other than Cause, Disability, Retirement or the Executive's
death or (ii) such employment is terminated by the Executive (a) due to a
material breach of this Agreement by the Corporation, which breach has not been
cured within fifteen (15) days after a written notice of non-compliance has been
given by the Executive to the Employers, or (b) for Good Reason, then the
Corporation shall

          (A)  pay to the Executive, in either thirty-six (36) equal monthly
     installments beginning with the first business day of the month following
     the Date of Termination or in a lump sum within five business days of the
     Date of Termination (at the Executive's election), a cash severance amount
     equal to three (3) times that portion of the Executive's Average Annual
     Compensation paid by the Corporation, and

          (B)  maintain and provide for a period ending at the earlier of (i)
     the expiration of the remaining term of employment pursuant hereto prior to
     the Notice of Termination or (ii) the date of the Executive's full-time
     employment by another employer (provided that the Executive is entitled
     under the terms of such employment to benefits substantially similar
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     to those described in this subparagraph (B)), at no cost to the Executive,
     the Executive's continued participation in all group insurance, life
     insurance, health and accident, disability and other employee benefit
     plans, programs and arrangements offered by the Corporation in which the
     Executive was entitled to participate immediately prior to the Date of
     Termination (other than stock option and restricted stock plans of the
     Employers), provided that in the event that the Executive's participation
     in any plan, program or arrangement as provided in this subparagraph (B) is
     barred, or during such period any such plan, program or arrangement is
     discontinued or the benefits thereunder are materially reduced, the
     Corporation shall arrange to provide the Executive with benefits
     substantially similar to those which the Executive was entitled to receive
     under such plans, programs and arrangements immediately prior to the Date
     of Termination.

     6.   Payment of Additional Benefits under Certain Circumstances.

     (a)  If the payments and benefits pursuant to Section 5 hereof, either
alone or together with other payments and benefits which the Executive has the
right to receive from the Employers (including, without limitation, the payments
and benefits which the Executive would have the right to receive from the Bank
pursuant to Section 5 of the Agreement between the Bank and the Executive dated
as of the date hereof ("Bank Agreement"), before giving effect to any reduction
in such amounts pursuant to Section 6 of the Bank Agreement), would constitute a
"parachute payment" as defined in Section 280G(b)(2) of the Code (the "Initial
Parachute Payment," which includes the amounts paid pursuant to clause (A)
below), then the Corporation shall pay to the Executive, in thirty-six (36)
equal monthly installments beginning with the first business day of the month
following the Date of Termination or in a lump sum within five business days of
the Date of Termination (at the Executive's election), a cash amount equal to
the sum of the following:

          (A)  the amount by which the payments and benefits that would have
     otherwise been paid by the Bank to the Executive pursuant to Section 5 of
     the Bank Agreement are reduced by the provisions of Section 6 of the Bank
     Agreement;

          (B)  twenty (20) percent (or such other percentage equal to the tax
     rate imposed by Section 4999 of the Code) of the amount by which the
     Initial Parachute Payment exceeds the Executive's "base amount" from the
     Employers, as defined in Section 280G(b)(3) of the Code, with the
     difference between the Initial Parachute Payment and the Executive's base
     amount being hereinafter referred to as the "Initial Excess Parachute
     Payment";

          (C)  such additional amount (tax allowance) as may be necessary to
     compensate the Executive for the payment by the Executive of state and
     federal income and excise taxes on the payment provided under clause (B)
     above and on any payments under this clause (C).
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     In computing such tax allowance, the payment to be made under clause (B)
     above shall be multiplied by the "gross up percentage" ("GUP"). The GUP
     shall be determined as follows:

                                        Tax Rate
                              GUP = _______________
                                       1- Tax Rate

     The Tax Rate for purposes of computing the GUP shall be the highest
     marginal federal and state income and employment-related tax rate,
     including any applicable excise tax rate, applicable to the Executive in
     the year in which the payment under clause (B) above is made.

     (b)  Notwithstanding the foregoing, if it shall subsequently be determined
in a final judicial determination or a final administrative settlement to which
the Executive is a party that the actual excess parachute payment as defined in
Section 280G(b)(1) of the Code is different from the Initial Excess Parachute
Payment (such different amount being hereafter referred to as the "Determinative
Excess Parachute Payment"), then the Corporation's independent tax counsel or
accountants shall determine the amount (the "Adjustment Amount") which either
the Executive must pay to the Corporation or the Corporation must pay to the
Executive in order to put the Executive (or the Corporation, as the case may be)
in the same position the Executive (or the Corporation, as the case may be)
would have been if the Initial Excess Parachute Payment had been equal to the
Determinative Excess Parachute Payment.  In determining the Adjustment Amount,
the independent tax counsel or accountants shall take into account any and all
taxes (including any penalties and interest) paid by or for the Executive or
refunded to the Executive or for the Executive's benefit.  As soon as
practicable after the Adjustment Amount has been so determined, the Corporation
shall pay the Adjustment Amount to the Executive or the Executive shall repay
the Adjustment Amount to the Corporation, as the case may be.

     (c)  In each calendar year that the Executive receives payments of benefits
under this Section 6, the Executive shall report on her state and federal income
tax returns such information as is consistent with the determination made by the
independent tax counsel or accountants of the Corporation as described above.
The Corporation shall indemnify and hold the Executive harmless from any and all
losses, costs and expenses (including without limitation, reasonable attorneys'
fees, interest, fines and penalties) which the Executive incurs as a result of
so reporting such information. The Executive shall promptly notify the
Corporation in writing whenever the Executive receives notice of the institution
of a judicial or administrative proceeding, formal or informal, in which the
federal tax treatment under Section 4999 of the Code of any amount paid or
payable under this Section 6 is being reviewed or is in dispute.  The
Corporation shall assume control at its expense over all legal and accounting
matters pertaining to such federal tax treatment (except to the extent necessary
or appropriate for the Executive to resolve any such proceeding with respect to
any matter unrelated to amounts paid or payable pursuant to this Section 6) and
the Executive shall cooperate fully with the Corporation in any such proceeding.
The Executive shall not enter into any
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compromise or settlement or otherwise prejudice any rights the Corporation may
have in connection therewith without the prior consent of the Corporation.

     7.   Mitigation; Exclusivity of Benefits.

     (a)  The Executive shall not be required to mitigate the amount of any
benefits hereunder by seeking other employment or otherwise, nor shall the
amount of any such benefits be reduced by any compensation earned by the
Executive as a result of employment by another employer after the Date of
Termination or otherwise.

     (b)  The specific arrangements referred to herein are not intended to
exclude any other benefits which may be available to the Executive upon a
termination of employment with the Employers pursuant to employee benefit plans
of the Employers or otherwise.

     8.   Withholding.  All payments required to be made by the Corporation
hereunder to the Executive shall be subject to the withholding of such amounts,
if any, relating to tax and other payroll deductions as the Corporation may
reasonably determine should be withheld pursuant to any applicable law or
regulation.

     9.   Assignability.  The Corporation may assign this Agreement and its
rights and obligations hereunder in whole, but not in part, to any corporation,
bank or other entity with or into which the Corporation may hereafter merge or
consolidate or to which the Corporation may transfer all or substantially all of
its assets, if in any such case said corporation, bank or other entity shall by
operation of law or expressly in writing assume all obligations of the
Corporation hereunder as fully as if it had been originally made a party hereto,
but may not otherwise assign this Agreement or its rights and obligations
hereunder.  The Executive may not assign or transfer this Agreement or any
rights or obligations hereunder.

     10.  Notice.  For the purposes of this Agreement, notices and all other
communications provided for in this Agreement shall be in writing and shall be
deemed to have been duly given when delivered or mailed by certified or
registered mail, return receipt requested, postage prepaid, addressed to the
respective addresses set forth below:

     To the Corporation:    Secretary
                            ESB Financial Corporation
                            600 Lawrence Avenue
                            Ellwood City, Pennsylvania 16117

     To the Bank:           Secretary
                            ESB Bank, F.S.B.
                            600 Lawrence Avenue
                            Ellwood City, Pennsylvania 16117
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                                      10

     To the Executive:      Charlotte A. Zuschlag
                            4237 Haut Brion Court
                            Allison Park, Pennsylvania 15101

     11.  Amendment; Waiver.  No provisions of this Agreement may be modified,
waived or discharged unless such waiver, modification or discharge is agreed to
in writing signed by the Executive and such officer or officers as may be
specifically designated by the Board of Directors of the Corporation to sign on
its behalf.  No waiver by any party hereto at any time of any breach by any
other party hereto of, or compliance with, any condition or provision of this
Agreement to be performed by such other party shall be deemed a waiver of
similar or dissimilar provisions or conditions at the same or at any prior or
subsequent time.

     12.  Governing Law.  The validity, interpretation, construction and
performance of this Agreement shall be governed by the laws of the United States
where applicable and otherwise by the substantive laws of the Commonwealth of
Pennsylvania.

     13.  Nature of Obligations.  Nothing contained herein shall create or
require the Corporation to create a trust of any kind to fund any benefits which
may be payable hereunder, and to the extent that the Executive acquires a right
to receive benefits from the Corporation hereunder, such right shall be no
greater than the right of any unsecured general creditor of the Corporation.

     14.  Headings.  The section headings contained in this Agreement are for
reference purposes only and shall not affect in any way the meaning or
interpretation of this Agreement.

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

     16.  Counterparts.  This Agreement may be executed in one or more
counterparts, each of which shall be deemed to be an original but all of which
together will constitute one and the same instrument.

     17.  Entire Agreement.  This Agreement embodies the entire agreement
between the Corporation and the Executive with respect to the matters agreed to
herein.  All prior agreements between the Corporation and the Executive with
respect to the matters agreed to herein, including without limitation the
Agreement between the Employers and the Executive dated June 13, 1990, are
hereby superseded and shall have no force or effect.  Notwithstanding the
foregoing, nothing contained in this Agreement shall affect the agreement of
even date being entered into between the Bank and the Executive.
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     IN WITNESS WHEREOF, this Agreement has been executed as of the date first
above written.

Attest:                                 ESB FINANCIAL CORPORATION

/s/ Frank D. Martz                      By:  /s/ William B. Salsgiver
-------------------------------              -----------------------------------
Frank D. Martz                               William B. Salsgiver
Senior Vice President and Secretary          Chairman of the Board of Directors

                                        EXECUTIVE

                                        By:  /s/ Charlotte A. Zuschlag
                                             -----------------------------------
                                             Charlotte A. Zuschlag<PAGE>

                                                                    EXHIBIT 10.i

                                   AGREEMENT

     AGREEMENT, dated this 16th day of November 1999, between ESB Bank, F.S.B.
(the "Bank"), a federally chartered savings bank, and Charlotte A. Zuschlag (the
"Executive").

                                  WITNESSETH

     WHEREAS, the Executive is presently an officer of ESB Financial Corporation
(the "Corporation") and the Bank (together, the "Employers");

     WHEREAS, the Employers desire to be ensured of the Executive's continued
active participation in the business of the Employers, and the Bank currently
has an agreement with the Executive dated June 13, 1990, which is being
superseded by this Agreement;

     WHEREAS, in accordance with Office of Thrift Supervision ("OTS") Regulatory
Bulletin 27a, the Corporation and the Bank desire to enter into separate
agreements with the Executive with respect to her employment by each of the
Employers; and

     WHEREAS, in order to induce the Executive to remain in the employ of the
Employers and in consideration of the Executive's agreeing to remain in the
employ of the Employers, the parties desire to specify the severance benefits
which shall be due the Executive by the Bank in the event that her employment
with the Bank is terminated under specified circumstances;

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

     1.   Definitions.  The following words and terms shall have the meanings
set forth below for the purposes of this Agreement:

     (a)  Average Annual Compensation.  The Executive's "Average Annual
Compensation" for purposes of this Agreement shall be deemed to mean the average
level of compensation paid to the Executive by the Employers or any subsidiary
thereof during the most recent five taxable years preceding the Date of
Termination and included in the Executive's gross income for tax purposes and
any income earned and deferred by the Executive pursuant to any plan or
arrangement of the Employers.

     (b)  Base Salary. "Base Salary" shall have the meaning set forth in Section
3(a) hereof.

     (c)  Cause. Termination of the Executive's employment for "Cause" shall
mean termination because of personal dishonesty, incompetence, willful
misconduct, breach of fiduciary
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                                       2

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.

     (d)  Change in Control of the Corporation.  "Change in Control of the
Corporation" shall mean a change in control of a nature that would be required
to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A
promulgated under the Securities Exchange Act of 1934, as amended ("Exchange
Act"), or any successor thereto, whether or not the Corporation is registered
under the Exchange Act; provided that, without limitation, such a change in
control shall be deemed to have occurred if (i) any "person" (as such 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 securities of the Corporation representing 25% or more of the
combined voting power of the Corporation's then outstanding securities; or (ii)
during any period of two consecutive years, individuals who at the beginning of
such period constitute the Board of Directors of the Corporation cease for any
reason to constitute at least a majority thereof unless the election, or the
nomination for election by stockholders, of each new director was approved by a
vote of at least two-thirds of the directors then still in office who were
directors at the beginning of the period.

     (e)  Code. "Code" shall mean the Internal Revenue Code of 1986, as amended.

     (f)  Date of Termination.  "Date of Termination" shall mean (i) if the
Executive's employment is terminated for Cause or for Disability, the date
specified in the Notice of Termination, and (ii) if the Executive's employment
is terminated for any other reason, the date on which a Notice of Termination is
given or as specified in such Notice.

     (g)  Disability.  Termination by the Bank of the Executive's employment
based on "Disability" shall mean termination because of any physical or mental
impairment which qualifies the Executive for disability benefits under the
applicable long-term disability plan maintained by the Employers or any
subsidiary or, if no such plan applies, which would qualify the Executive for
disability benefits under the Federal Social Security System.

     (h)  Good Reason.  Termination by the Executive of the Executive's
employment for "Good Reason" shall mean termination by the Executive following a
Change in Control of the Corporation based on:

          (i)    Without the Executive's express written consent, the failure to
                 elect or to re-elect or to appoint or to re-appoint the
                 Executive to the offices of President and Chief Executive
                 Officer of the Employers or a material adverse change made by
                 the Employers in the Executive's functions, duties or
                 responsibilities as President and Chief Executive Officer of
                 the Employers;
<PAGE>

                                       3

          (ii)   Without the Executive's express written consent, a reduction by
                 either of the Employers in the Executive's Base Salary as the
                 same may be increased from time to time or, except to the
                 extent permitted by Section 3(b) hereof, a reduction in the
                 package of fringe benefits provided to the Executive, taken as
                 a whole;

          (iii)  The principal executive office of either of the Employers is
                 relocated outside of the Ellwood City, Pennsylvania area or,
                 without the Executive's express written consent, either of the
                 Employers require the Executive to be based anywhere other than
                 an area in which the Employers' principal executive office is
                 located, except for required travel on business of the
                 Employers to an extent substantially consistent with the
                 Executive's present business travel obligations;

          (iv)   Any purported termination of the Executive's employment for
                 Cause, Disability or Retirement which is not effected pursuant
                 to a Notice of Termination satisfying the requirements of
                 paragraph (j) below; or

          (v)    The failure by the Bank to obtain the assumption of and
                 agreement to perform this Agreement by any successor as
                 contemplated in Section 9 hereof.

     (i)  IRS.  IRS shall mean the Internal Revenue Service.

     (j)  Notice of Termination.  Any purported termination of the Executive's
employment by the Bank for any reason, including without limitation for Cause,
Disability or Retirement, or by the Executive for any reason, including without
limitation for Good Reason, shall be communicated by written "Notice of
Termination" to the other party hereto.  For purposes of this Agreement, a
"Notice of Termination" shall mean a dated notice which (i) indicates the
specific termination provision in this Agreement relied upon, (ii) sets forth in
reasonable detail the facts and circumstances claimed to provide a basis for
termination of Executive's employment under the provision so indicated, (iii)
specifies a Date of Termination, which shall be not less than thirty (30) nor
more than ninety (90) days after such Notice of Termination is given, except in
the case of the Bank's termination of Executive's employment for Cause, which
shall be effective immediately; and (iv) is given in the manner specified in
Section 10 hereof.

     (k)  Retirement.  "Retirement" shall mean voluntary termination by the
Executive in accordance with the Employers' retirement policies, including early
retirement, generally applicable to their salaried employees.
<PAGE>

                                       4

     2.   Term of Employment.

     (a)  The Bank hereby employs the Executive as President and Chief Executive
Officer and the Executive hereby accepts said employment and agrees to render
such services to the Bank on the terms and conditions set forth in this
Agreement.  The term of employment under this Agreement shall be for three
years, commencing on the date of this Agreement and, upon approval of the Board
of Directors of the Bank, shall extend for an additional year on each annual
anniversary of the date of this Agreement such that at any time the remaining
term of this Agreement shall be from two to three years.  Prior to the first
annual anniversary of the date of this Agreement and each annual anniversary
thereafter, the Board of Directors of the Bank shall consider and review (with
appropriate corporate documentation thereof, and after taking into account all
relevant factors, including the Executive's performance hereunder) an extension
of the term of this Agreement, and the term shall continue to extend each year
if the Board of Directors approves such extension unless the Executive gives
written notice to the Employers of the Executive's election not to extend the
term, with such written notice to be given not less than thirty (30) days prior
to any such anniversary date. If the Board of Directors elects not to extend the
term, it shall give written notice of such decision to the Executive not less
than thirty (30) days prior to any such anniversary date.  If any party gives
timely notice that the term will not be extended as of any annual anniversary
date, then this Agreement shall terminate at the conclusion of its remaining
term.  References herein to the term of this Agreement shall refer both to the
initial term and successive terms.

     (b)  During the term of this Agreement, the Executive shall perform such
executive services for the Bank as may be consistent with her titles and from
time to time assigned to her by the Bank's Board of Directors.

     3.   Compensation and Benefits.

     (a)  The Employers shall compensate and pay the Executive for her services
during the term of this Agreement at a minimum base salary of $284,000 per year
("Base Salary"), which may be increased from time to time in such amounts as may
be determined by the Boards of Directors of the Employers and may not be
decreased without the Executive's express written consent.  In addition to her
Base Salary, the Executive shall be entitled to receive during the term of this
Agreement such bonus payments as may be determined by the Boards of Directors of
the Employers.

     (b)  During the term of this Agreement, the Executive shall be entitled to
participate in and receive the benefits of any pension or other retirement
benefit plan, profit sharing, stock option, employee stock ownership, or other
plans, benefits and privileges given to employees and executives of the
Employers, to the extent commensurate with her then duties and responsibilities,
as fixed by the Boards of Directors of the Employers.  The Bank shall not make
any changes in such plans, benefits or privileges which would adversely affect
the Executive's rights or benefits thereunder, unless such change occurs
pursuant to a program applicable to all executive officers of the Bank and
<PAGE>

                                       5

does not result in a proportionately greater adverse change in the rights of or
benefits to the Executive as compared with any other executive officer of the
Bank. Nothing paid to the Executive under any plan or arrangement presently in
effect or made available in the future shall be deemed to be in lieu of the
salary payable to the Executive pursuant to Section 3(a) hereof.

     (c)  During the term of this Agreement, the Executive shall be entitled to
paid annual vacation in accordance with the policies as established from time to
time by the Boards of Directors of the Employers, which shall in no event be
less than five weeks per annum.  The Executive shall not be entitled to receive
any additional compensation from the Employers for failure to take a vacation,
nor shall the Executive be able to accumulate unused vacation time from one year
to the next, except to the extent authorized by the Boards of Directors of the
Employers.

     (d)  During the term of this Agreement, in keeping with past practices, the
Employers shall continue to provide the Executive with the automobile she
presently drives. The Employers shall be responsible and shall pay for all costs
of insurance coverage, repairs, maintenance and other incidental expenses,
including license, fuel and oil.

     (e)  In the event the Executive's employment is terminated by the Bank for
any reason other than Cause, the Employers shall provide continued life,
medical, dental and disability coverage substantially identical to the coverage
maintained by the Employers for the Executive immediately prior to her
termination.  Such coverage shall cease upon the expiration of the remaining
term of this Agreement.

     (f)  In the event of the Executive's death during the term of this
Agreement, her spouse, estate, legal representative or named beneficiaries (as
directed by the Executive in writing) shall be paid on a monthly basis the
Executive's annual compensation from the Employers at the rate in effect at the
time of the Executive's death for the remainder of the term of this Agreement,
as well as the benefits specified in Section 3(e) hereof.  In the event
Executive is terminated due to Disability during the term of this Agreement, the
Executive shall be paid on a monthly basis (i) the Executive's annual
compensation from the Employers at the rate in effect at the time of termination
due to Disability for the remainder of the term of this Agreement, as well as
the benefits specified in Section 3(e) hereof, and (ii) upon the expiration of
the term of this Agreement, two-thirds (66.67%) of the Executive's Base Salary
at the time of termination due to Disability until the Executive reaches the
normal retirement age of 65; provided however, there shall be deducted from the
amounts paid the Executive pursuant  to this Section 3(f), any amounts actually
paid to the Executive pursuant to any disability insurance or similar plan or
program which the Employers have instituted or may institute on behalf of the
Executive or its employees for the purpose of compensating employees in the
event of disability, the Social Security Act, the Workers Compensation or
Occupational Disease Act, or any state disability benefit law.
<PAGE>

                                       6

     (g)  The Executive's compensation, benefits and expenses shall be paid by
the Corporation and the Bank in the same proportion as the time and services
actually expended by the Executive on behalf of each respective Employer.

     4.   Expenses.  The Employers shall reimburse the Executive or otherwise
provide for or pay for all reasonable expenses incurred by the Executive in
furtherance of or in connection with the business of the Employers, including,
but not by way of limitation, automobile expenses described in Section 3(d)
hereof, and traveling expenses, and all reasonable entertainment expenses
(whether incurred at the Executive's residence, while traveling or otherwise),
subject to such reasonable documentation and other limitations as may be
established by the Boards of Directors of the Employers.  If such expenses are
paid in the first instance by the Executive, the Employers shall reimburse the
Executive therefor.

     5.   Termination.

     (a)  The Bank shall have the right, at any time upon prior Notice of
Termination, to terminate the Executive's employment hereunder for any reason,
including without limitation termination for Cause, Disability or Retirement,
and the Executive shall have the right, upon prior Notice of Termination, to
terminate her employment hereunder for any reason.

     (b)  In the event that (i) the Executive's employment is terminated by the
Bank for Cause or (ii) the Executive terminates her employment hereunder other
than for Disability, Retirement, death or Good Reason, the Executive shall have
no right pursuant to this Agreement to compensation or other benefits for any
period after the applicable Date of Termination.

     (c)  In the event that the Executive's employment is terminated as a result
of Disability, Retirement or the Executive's death during the term of this
Agreement, the Executive shall have no right pursuant to this Agreement to
compensation or other benefits for any period after the applicable Date of
Termination, except as provided for in Sections 3(e) and 3(f) hereof.

     (d)  In the event that (i) the Executive's employment is terminated by the
Bank for other than Cause, Disability, Retirement or the Executive's death or
(ii) such employment is terminated by the Executive (a) due to a material breach
of this Agreement by the Bank, which breach has not been cured within fifteen
(15) days after a written notice of non-compliance has been given by the
Executive to the Employers, or (b) for Good Reason, then the Bank shall, subject
to the provisions of Section 6 hereof, if applicable

          (A)  pay to the Executive, in either thirty-six (36) equal monthly
     installments beginning with the first business day of the month following
     the Date of Termination or in a lump sum within five business days of the
     Date of Termination (at the Executive's
<PAGE>

                                       7

     election), a cash severance amount equal to three (3) times that portion of
     the Executive's Average Annual Compensation paid by the Bank, and

          (B)  maintain and provide for a period ending at the earlier of (i)
     the expiration of the remaining term of employment pursuant hereto prior to
     the Notice of Termination or (ii) the date of the Executive's full-time
     employment by another employer (provided that the Executive is entitled
     under the terms of such employment to benefits substantially similar to
     those described in this subparagraph (B)), at no cost to the Executive, the
     Executive's continued participation in all group insurance, life insurance,
     health and accident, disability and other employee benefit plans, programs
     and arrangements offered by the Bank in which the Executive was entitled to
     participate immediately prior to the Date of Termination (other than stock
     option and restricted stock plans of the Employers), provided that in the
     event that the Executive's participation in any plan, program or
     arrangement as provided in this subparagraph (B) is barred, or during such
     period any such plan, program or arrangement is discontinued or the
     benefits thereunder are materially reduced, the Bank shall arrange to
     provide the Executive with benefits substantially similar to those which
     the Executive was entitled to receive under such plans, programs and
     arrangements immediately prior to the Date of Termination.

     6.   Limitation of Benefits under Certain Circumstances.  If the payments
and benefits pursuant to Section 5 hereof, either alone or together with other
payments and benefits which the Executive has the right to receive from the
Bank, would constitute a "parachute payment" under Section 280G of the Code, the
payments and benefits payable by the Bank pursuant to Section 5 hereof shall be
reduced, in the manner determined by the Executive, by the amount, if any, which
is the minimum necessary to result in no portion of the payments and benefits
payable by the Bank under Section 5 being non-deductible to the Bank pursuant to
Section 280G of the Code and subject to the excise tax imposed under Section
4999 of the Code.  The parties hereto agree that the payments and benefits
payable pursuant to this Agreement to the Executive upon termination shall be
limited to three times the Executive's Average Annual Compensation in accordance
with OTS Regulatory Bulletin 27a.  The determination of any reduction in the
payments and benefits to be made pursuant to Section 5 shall be based upon the
opinion of independent tax counsel selected by the Bank's independent public
accountants and paid by the Bank.  Such counsel shall be reasonably acceptable
to the Bank and the Executive; shall promptly prepare the foregoing opinion, but
in no event later than thirty (30) days from the Date of Termination; and may
use such actuaries as such counsel deems necessary or advisable for the purpose.
Nothing contained herein shall result in a reduction of any payments or benefits
to which the Executive may be entitled upon termination of employment under any
circumstances other than as specified in this Section 6, or a reduction in the
payments and benefits specified in Section 5 below zero.
<PAGE>

                                       8

     7.   Mitigation; Exclusivity of Benefits.

     (a)  The Executive shall not be required to mitigate the amount of any
benefits hereunder by seeking other employment or otherwise, nor shall the
amount of any such benefits be reduced by any compensation earned by the
Executive as a result of employment by another employer after the Date of
Termination or otherwise.

     (b)  The specific arrangements referred to herein are not intended to
exclude any other benefits which may be available to the Executive upon a
termination of employment with the Employers pursuant to employee benefit plans
of the Employers or otherwise.

     8.   Withholding.  All payments required to be made by the Bank hereunder
to the Executive shall be subject to the withholding of such amounts, if any,
relating to tax and other payroll deductions as the Bank may reasonably
determine should be withheld pursuant to any applicable law or regulation.

     9.   Assignability.  The Bank may assign this Agreement and its rights and
obligations hereunder in whole, but not in part, to any corporation, bank or
other entity with or into which the Bank may hereafter merge or consolidate or
to which the Bank may transfer all or substantially all of its assets, if in any
such case said corporation, bank or other entity shall by operation of law or
expressly in writing assume all obligations of the Bank hereunder as fully as if
it had been originally made a party hereto, but may not otherwise assign this
Agreement or its rights and obligations hereunder.  The Executive may not assign
or transfer this Agreement or any rights or obligations hereunder.

     10.  Notice.  For the purposes of this Agreement, notices and all other
communications provided for in this Agreement shall be in writing and shall be
deemed to have been duly given when delivered or mailed by certified or
registered mail, return receipt requested, postage prepaid, addressed to the
respective addresses set forth below:

    To the Bank:             Secretary
                             ESB Bank, F.S.B.
                             600 Lawrence Avenue
                             Ellwood City, Pennsylvania 16117

    To the Corporation:      Secretary
                             ESB Financial Corporation
                             600 Lawrence Avenue
                             Ellwood City, Pennsylvania 16117
<PAGE>

                                       9

    To the Executive:        Charlotte A. Zuschlag
                             237 Haut Brion Court
                             Allison Park, Pennsylvania 15101

     11.  Amendment; Waiver.  No provisions of this Agreement may be modified,
waived or discharged unless such waiver, modification or discharge is agreed to
in writing signed by the Executive and such officer or officers as may be
specifically designated by the Board of Directors of the Bank to sign on its
behalf.  No waiver by any party hereto at any time of any breach by any other
party hereto of, or compliance with, any condition or provision of this
Agreement to be performed by such other party shall be deemed a waiver of
similar or dissimilar provisions or conditions at the same or at any prior or
subsequent time.

     12.  Governing Law.  The validity, interpretation, construction and
performance of this Agreement shall be governed by the laws of the United States
where applicable and otherwise by the substantive laws of the Commonwealth of
Pennsylvania.

     13.  Nature of Obligations.  Nothing contained herein shall create or
require the Bank to create a trust of any kind to fund any benefits which may be
payable hereunder, and to the extent that the Executive acquires a right to
receive benefits from the Bank hereunder, such right shall be no greater than
the right of any unsecured general creditor of the Bank.

     14.  Headings.  The section headings contained in this Agreement are for
reference purposes only and shall not affect in any way the meaning or
interpretation of this Agreement.

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

     16.  Counterparts.  This Agreement may be executed in one or more
counterparts, each of which shall be deemed to be an original but all of which
together will constitute one and the same instrument.

     17.  Regulatory Actions.  The following provisions shall be applicable to
the parties to the extent that they are required to be included in employment
agreements between a savings bank and its employees pursuant to Section
563.39(b) of the Regulations Applicable to all Savings Associations, 12 C.F.R.
(S)563.39(b), or any successor thereto, and shall be controlling in the event of
a conflict with any other provision of this Agreement, including without
limitation Section 5 hereof.

     (a)  If the Executive is suspended from office and/or temporarily
prohibited from participating in the conduct of the Bank's affairs pursuant to
notice served under Section 8(e)(3) or
<PAGE>

                                      10

Section 8(g)(1) of the Federal Deposit Insurance Act ("FDIA")(12 U.S.C.
(S)(S)1818(e)(3) and 1818(g)(1)), the Bank's obligations under this Agreement
shall be suspended as of the date of service, unless stayed by appropriate
proceedings. If the charges in the notice are dismissed, the Bank may, in its
discretion: (i) pay the Executive all or part of the compensation withheld while
its obligations under this Agreement were suspended, and (ii) reinstate (in
whole or in part) any of its obligations which were suspended.

     (b)  If the Executive is removed from office and/or permanently prohibited
from participating in the conduct of the Bank's affairs by an order issued under
Section 8(e)(4) or Section 8(g)(1) of the FDIA (12 U.S.C. (S)(S)1818(e)(4) and
(g)(1)), all obligations of the Bank under this Agreement shall terminate as of
the effective date of the order, but vested rights of the Executive and the Bank
as of the date of termination shall not be affected.

     (c)  If the Bank is in default, as defined in Section 3(x)(1) of the FDIA
(12 U.S.C. (S)1813(x)(1)), all obligations under this Agreement shall terminate
as of the date of default, but vested rights of the Executive and the Bank as of
the date of termination shall not be affected.

     (d)  All obligations under this Agreement shall be terminated pursuant to
12 C.F.R. (S)563.39(b)(5) (except to the extent that it is determined that
continuation of the Agreement for the continued operation of the Bank is
necessary): (i) by the Director of the OTS, or his/her designee, at the time the
Federal Deposit Insurance Corporation ("FDIC") or Resolution Trust Corporation
enters into an agreement to provide assistance to or on behalf of the Bank under
the authority contained in Section 13(c) of the FDIA (12 U.S.C. (S)1823(c)); or
(ii) by the Director of the OTS, or his/her designee, at the time the Director
or his/her designee approves a supervisory merger to resolve problems related to
operation of the Bank or when the Bank is determined by the Director of the OTS
to be in an unsafe or unsound condition, but vested rights of the Executive and
the Employers as of the date of termination shall not be affected.

     18.  Regulatory Prohibition.  Notwithstanding any other provision of this
Agreement to the contrary, any payments made to the Executive pursuant to this
Agreement, or otherwise, are subject to and conditioned upon their compliance
with Section 18(k) of the FDIA (12 U.S.C. (S)1828(k)) and any regulations
promulgated thereunder.

     19.  Entire Agreement.  This Agreement embodies the entire agreement
between the Bank and the Executive with respect to the matters agreed to herein.
All prior agreements between the Bank and the Executive with respect to the
matters agreed to herein, including without limitation the Agreement between the
Bank and the Executive dated June 13, 1990, are hereby superseded and shall have
no force or effect.  Notwithstanding the foregoing, nothing contained in this
Agreement shall affect the agreement of even date being entered into between the
Corporation and the Executive.
<PAGE>

                                      11

     IN WITNESS WHEREOF, this Agreement has been executed as of the date first
above written.

Attest:                                 ESB BANK, F.S.B.

/s/ Frank D. Martz                      By:  /s/ William B. Salsgiver
----------------------------                 -----------------------------------
Frank D. Martz                               William B. Salsgiver
Senior Vice President and Secretary          Chairman of the Board of Directors

                                        EXECUTIVE

                                        By:  /s/ Charlotte A. Zuschlag
                                             -----------------------------------
                                             Charlotte A. Zuschlag

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