Document:

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                                  EXHIBIT 4.01
                                  ------------

                           CAMCO FINANCIAL CORPORATION
                           2002 EQUITY INCENTIVE PLAN

                                  INTRODUCTION

         The purpose of the Camco Financial Corporation 2002 Equity Incentive
Plan (the "Plan") is to promote and advance the interests of Camco Financial
Corporation ("Camco") the Company and its shareholders by enabling the Company
to attract, retain and reward Directors, and managerial and other employees of
the Company and any Subsidiary, and to strengthen the mutuality of interests
between such Directors and employees and the Company's shareholders, by
providing such persons with a proprietary interest in pursuing the long-term
growth, profitability and financial success of the Company.

                                    ARTICLE I
                                   DEFINITIONS
                                   -----------

              For the purpose of this Plan, unless the context requires
otherwise, the following terms shall have the meanings indicated:

1.1      "Board" shall mean the Board of Directors of the Company.

1.2      "Change in Control" shall mean either:

         (i)      any person or entity obtains "conclusive control" of the
                  Company within the meaning of 12 C.F.R. Section 574.4(a) or

         (ii)     any person or entity obtains "rebuttable control" within the
                  meaning of 12 C.F.R. Section 574.4(b) and has not rebutted
                  control in accordance with 12 C.F.R. Section 574.4(e).

1.3      "Code" means the Internal Revenue Code of 1986, as amended, or any
successor thereto, together with rules, regulations and interpretations
promulgated thereunder.

1.4      "Common Stock" shall mean the common stock of the Company.

1.5      "Date of Grant" means the effective date on which an option or grant
is awarded to a Participant as set forth in the award agreement.

1.6      "Disability" shall mean the Participant suffering a sickness,
accident or injury which has been determined by the carrier of any individual or
group disability insurance policy covering the Participant, or by the Social
Security Administration, to be a disability rendering the Participant totally
and permanently disabled. The Participant must submit proof to the Company of
the carrier's or Social Security Administration's determination upon the request
of the Company.

1.7      "Exchange  Act" shall mean the Securities  Exchange Act of 1934,
as amended, or any successor statute.

1.8      "Fair Market  Value" of Shares on any dates shall be  determined  for
all purposes of the Plan as follows:

         i)       If the Common Shares are traded on a national securities
                  exchange at the time of grant of the

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                  Stock Option, then the Fair Market Value shall be the average
                  of the highest and the lowest selling price on such exchange
                  on the date such Stock Option is granted or, if there were no
                  sales on such date, then on the next prior business day on
                  which there was a sale;

         ii)      If the Common Shares are listed on The Nasdaq Stock Market, at
                  the time of the grant of the Stock Option, then the Fair
                  Market Value shall be the mean between the closing bid and
                  closing asked quotation with respect to a Common Share on such
                  date on The Nasdaq Stock Market;

         iii)     If the Common Shares are not traded on a national securities
                  exchange or quoted on The Nasdaq Stock Market, then the Fair
                  Market Value shall be as determined by the Committee.

1.9 "Incentive Stock Option" shall mean any stock option that is intended to be
and is specifically designated as an "incentive stock option" within the meaning
of Section 422 of the Code.

1.10 "Involuntary Termination" shall mean the Participant's employment with the
Company is terminated for reasons other than Voluntary Termination, death,
Disability, Change in Control or Cause.

1.11 "Nonqualified Stock Option" shall mean any stock option that is not an
Incentive Stock Option.

1.12 "Participant" shall mean an employee or Director of the Company or a
Subsidiary who is granted a Stock Option under the Plan. Notwithstanding the
foregoing, for the purposes of the granting of any Incentive Stock Option under
this Plan, the term "Participant' shall include only employees of the Company or
a Subsidiary.

1.13 "Plan" shall mean this Camco Financial Corporation 2002 Equity Incentive
Plan, as set forth herein and as it may be hereafter amended from time to time.

1.14 [Reserved].

1.15 "Retirement" shall mean any Voluntary Termination by a Participant,
pursuant to Article VII of this Plan, at or after age 65.

1.16 "Secretary" shall mean the corporate Secretary of the Company.

1.17 "Shares" shall mean shares of Common Stock.

1.18 "Stock Dividend" shall mean a dividend or other distribution declared on
the Shares of Common Stock payable in (i) capital stock of the Company or any
Subsidiary of the Company, or (ii) rights, options or warrants to receive or
purchase capital stock of the Company or any Subsidiary of the Company, or (iii)
securities convertible into or exchangeable for capital stock of the Company or
any Subsidiary of the Company, or (iv) any capital stock received upon the
exercise, or with respect to, the foregoing.

1.19 "Stock Option" shall mean a right to purchase Common Stock of the Company
granted to a Participant pursuant to the Plan.

1.20 "Subsidiary(ies)" shall mean any corporation or entity in which the Company
directly or indirectly controls 50% or more of the total voting power of all
classes of its stock having voting power, and includes, without limitation,
Advantage Bank, Camco Mortgage Corporation and Camco Title Insurance Agency,
Inc.

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1.21 "Terminate (Termination of) Service (or Termination)" means the Participant
ceases to be an employee or director of the Company or any Subsidiary for any
reason whatsoever, voluntary or involuntary, other than by reason of an approved
leave of absence.

                                   ARTICLE II
                                 ADMINISTRATION
                                 --------------

              Subject to the terms of this Article II, the Plan shall be
administered by the Compensation Committee (the "Committee") of the Board. Each
member of the Committee, at the time of his appointment to the Committee and
while he is a member thereof, must be a "disinterested person," as that term is
defined in Rule 16b-3 promulgated under the Exchange Act, and an "outside
director" under Section 162(m) of the Code.

              Subject to the terms hereof, the Committee shall have exclusive
         power to:

         (a)      Designate, from time to time, the particular employees or
                  Directors of the Company to whom Stock Options will be
                  granted;

         (b)      Designate the time or times when Stock Options will be
                  granted;

         (c)      Determine the number of Shares of Common Stock subject to
                  issuance pursuant to any Stock Option award, and all of the
                  terms, conditions, restriction limitations, if any, of an
                  award of Stock Options, including the time and conditions of
                  exercise or vesting;

         (d)      Accelerate the vesting of Stock Options or exercise of any
                  Stock Options when such actions would be in the best interests
                  of the Company;

         (e)      Interpret the Plan, prescribe, amend, and rescind any rules
                  and regulations necessary or appropriate for the
                  administration of the Plan; and

         (f)      Make such other determinations and take such other action as
                  it deems necessary or advisable in connection with the
                  foregoing.

         The Committee shall have full authority and responsibility to
administer the Plan, including authority to interpret and construe any provision
of the Plan and the terms of any Stock Options issued under it and to adopt such
rules and regulations for administering the Plan as it may deem necessary.
Except as provided below, any interpretation, determination, or other action
made or taken by the Committee shall be final, binding, and conclusive on all
interested parties, including the Company and all Participants.

                                   ARTICLE III
                           SHARES SUBJECT TO THE PLAN
                           --------------------------

         Subject to the provisions of Article XI of the Plan, the aggregate
number of Shares which may be issued to Participants under grants of Stock
Options made by the Committee under this Plan shall be 400,000. Shares to be
distributed and sold may be made available from either authorized but unissued
Common Stock or Common Stock held by the Company in its treasury. Shares that by
reason of the unexercised expiration or unexercised termination of a Stock
Option are no longer subject to purchase may be reoffered under the Plan.

<PAGE>

                                   ARTICLE IV
                                  STOCK OPTIONS
                                  -------------

4.1 ELIGIBILITY. The Committee shall, from time to time, select the particular
employees and Directors of the Company and its Subsidiaries to whom the Stock
Options are to be granted and/or distributed in recognition of each such
Participant's contribution to the Company's or the Subsidiary's success.

4.2 GRANT OF STOCK OPTIONS. All grants of Stock Options under this Article IV
shall be awarded by the Committee. Each grant of Stock Options shall be
evidenced by a Stock Option agreement setting forth the total number of Shares
subject to the Stock Option, the option exercise price, the term of the Stock
Option, the vesting schedule, and such other terms and provisions as are
approved by the Committee, are not inconsistent with the Plan. In the case of an
Incentive Stock Option, the Stock Option agreement shall also include provisions
that may be necessary to assure that the option is an Incentive Stock Option
under the Code. The Company shall execute Stock Option agreements upon
instructions from the Committee.

4.3 EXERCISE PRICE. The exercise price for a Nonqualified Stock Option shall be
determined by the Committee and shall be an amount not less than the Fair Market
Value per share of the Common Stock on the Date of Grant. The exercise price for
an Incentive Stock Option shall be determined by the Committee and shall be an
amount not less than the Fair Market Value per share of the Common Stock on the
Date of Grant. The Committee shall determine the Fair Market Value of the Common
Stock on the Date of Grant. Notwithstanding anything to the contrary contained
in this Section 4.3, the exercise price of each Stock Option granted pursuant to
the Plan shall not be less than the par value per share of the Common Stock.

4.4 OPTION PERIOD. The option period will begin and terminate on the respective
dates specified by the Committee, but may not terminate later than ten years
from the Date of Grant. No Stock Option granted under the Plan may be exercised
at any time after the expiration of its option period. The Committee may provide
for the vesting and exercise of Stock Options in installments and upon such
terms, conditions and restrictions as it may determine. In addition to the
provisions contained elsewhere herein concerning automatic acceleration of
unvested installments of Stock Options, the Committee shall have the right to
accelerate the time at which any Stock Option granted to an employee shall
become vested, or exercisable.

4.5 VESTING. Stock Options granted pursuant to the Plan shall become exercisable
as follows: 20% of the award shall become immediately exercisable upon grant,
and 20% shall become exercisable on the first, second, third, fourth and fifth
respective anniversaries of the date of the grant, subject in each case to the
terms and conditions of Article VIII. The Board, in its sole discretion, may
amend the vesting schedule.

                                    ARTICLE V
                        LIMITS ON INCENTIVE STOCK OPTIONS
                        ---------------------------------

5.1 OPTION PERIOD AND EXERCISE PRICE. Notwithstanding the provisions of Section
5.4 hereof, if a Participant eligible to receive a grant of an Incentive Stock
Option under Section 422 of the Code (a "Participant") owns or is deemed to own
(by reason of the attribution rules of Section 424(d) of the Code) more than 10%
of the combined voting power of all classes of stock of the Company (or any
Subsidiary of the Company) and an Incentive Stock Option is granted to such
Participant, the option period term of such Incentive Stock Option (to the
extent required by the Code at the time of grant) shall be no more than five
years from the Date of Grant. In addition, the option price of any such
Incentive Stock Option granted to any such Participant owning more than

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10% of the combined voting power of all classes of stock of the Company (or any
Subsidiary of the Company) shall be at least 110% of the Fair Market Value of
the Common Stock on the Date of Grant.

5.2 LIMITATION ON EXERCISES OF SHARES SUBJECT TO INCENTIVE STOCK OPTIONS. To the
extent required by the Code for Incentive Stock Options, the exercisability of
Incentive Stock Options granted under the Plan shall be subject to the $100,000
calendar year limit as set forth in Section 422(d) of the Code; to the extent
that any grant exceeds such $100,000 calendar year limit, the portion of such
granted Stock Option shall be deemed a Nonqualified Stock Option.

5.3 DISQUALIFYING DISPOSITION. If shares acquired upon exercise of an Incentive
Stock Option are disposed of by a Participant prior to the expiration of either
two years from the Date of Grant of such Stock Option or one year from the
transfer of Shares to such Participant pursuant to the exercise of such Stock
Option, or in any other disqualifying disposition within the meaning of Section
422 of the Code, such Participant shall notify the Company in writing of the
date and terms of such disposition. A disqualifying disposition by a Participant
shall not affect the status of any other Stock Option granted under the Plan as
an Incentive Stock Option within the meaning of Section 422 of the Code.

5.4 TERMINATION. Notwithstanding the provisions of Article VIII, the option
period of a Participant's Incentive Stock Options shall terminate no later than
ninety (90) days after termination of such Participant's employment with the
Company and its Subsidiaries; provided that if such employment terminates by
reason of the death or total and permanent disability (as defined in Section
22(e) of the Code) of the Participant, then the option period of such
Participant's Incentive Stock Options shall terminate no later than one year
after such termination by reason of death or disability.

                                   ARTICLE VI
                            EXERCISE OF STOCK OPTIONS
                            -------------------------

         Full payment for Shares purchased upon exercise of a Stock Option shall
be made in cash or by the Participant's delivery to the Company of Shares of
Common Stock which have a Fair Market Value equal to the exercise price (or in
any combination of cash and Shares of Common Stock having an aggregate Fair
Market Value equal to the exercise price). No Shares may be issued until full
payment of the purchase price therefor has been made, and a Participant will
have none of the rights of a stockholder until Shares are issued to him. With
the prior written consent of the Committee, which consent may be withheld by the
Committee in its sole discretion, Shares covered by a Stock Option may be
purchased upon exercise, in whole or in part, in accordance with the applicable
Stock Option agreement, by authorizing a third party to sell the Shares (or a
sufficient portion thereof) acquired upon exercise of a Stock Option, and
assigning the delivery to the Company of a sufficient amount of the sale
proceeds to pay for all the Shares acquired through such exercise and any tax
withholding obligations resulting from such exercise.

                                   ARTICLE VII
                                   [Reserved]

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                                  ARTICLE VIII
                      TERMINATION OF EMPLOYMENT OR SERVICE
                      ------------------------------------

         Except as otherwise provided in Section 5.4 with respect to Incentive
Stock Options, a Participant's Stock Options may be vested and/or exercised as
follows in the event of such Participant's Death or disability, retirement,
voluntary termination or termination for Cause:

         (a) DEATH. In the event of a Participant's death, all unvested
         installments of Stock Options shall thereupon automatically be
         accelerated and exercisable in full. The Stock Option may be exercised
         for a period of twelve (12) months after the Participant's death, or
         until expiration of the option period (if sooner), by the Participant's
         estate or personal representative, or by the person who acquired the
         right to exercise the Stock Option by bequest or inheritance or by
         reason of the Participant's death.

         (b) DISABILITY. In the event of a Participant's Termination of Service
         as a result of total and permanent Disability, all unvested
         installments of Stock Options shall thereupon automatically be
         accelerated and exercisable in full if such Participant shall have
         completed at least three (3) Years of Service on or prior to the
         Termination of Service. The Stock Option may be exercised by the
         Participant for a period of twelve (12) months after the Participant's
         Termination of Service because of Disability, or until expiration of
         the option period (if sooner).

         (c) RETIREMENT. In the event of a Participant's Termination of Service
         as the result of Retirement, all unvested installments of Stock Options
         shall thereupon automatically be accelerated and exercisable in full if
         such Participant shall have completed at least ten (10) years of
         service (or five (5) years of service for Board members) on or prior to
         the Termination of Service. The Stock Option may be exercised by the
         Participant or his guardian or legal representative for a period of
         twelve (12) months after, or until expiration of the option period (if
         sooner).

         (d) VOLUNTARY TERMINATION. In the event that a Participant terminates
         employment voluntarily, the Stock Options may be exercised to the
         extent such Stock Options were exercisable immediately prior to the
         Termination of Service by the Participant for a period of six (6)
         months after, or until expiration of the option period (if sooner).

         (e) INVOLUNTARY TERMINATION. In the event that a Participant's
         termination as a result of an Involuntary Termination, the Stock
         Options may be exercised to the extent such Stock Options were
         exercisable immediately prior to the Termination of Service by the
         Participant for a period of three (3) months after, or until expiration
         of the option period (if sooner).

         (f) TERMINATION FOR CAUSE. In the event that a Participant's
         termination is for Cause, no Stock Option shall be exercisable after
         the date of termination.

         (g) CHANGE IN CONTROL. In the event of a Change in Control, all Stock
         Options shall be automatically accelerated and immediately exercisable.

Notwithstanding the foregoing, the Committee may impose more restrictive terms
for an individual grant of a Stock Option to a Participant under the Plan than
those contained in this Plan concerning any exercise of such Stock Option with
respect to any Termination of Service by such Participant.

<PAGE>

                                   ARTICLE IX
                           AMENDMENT OR DISCONTINUANCE
                           ---------------------------

         Subject to the limitations set forth in this Article IX, the Board may
at any time, without the consent of the Participants, alter, amend, revise,
suspend, or discontinue the Plan in whole or in part; provided that no amendment
which requires stockholder approval in order for the Plan to continue to comply
with Rule 16b-3 under the Exchange Act, including any successor to such Rule,
shall be effective unless such amendment shall be approved by the requisite vote
of the stockholders of the Company entitled to vote thereon.

         Subject to the foregoing, the Board shall have the power to amend the
Plan in any manner advisable in order for Stock Options granted under the Plan
to qualify for the exemption provided by Rule 16b-3 (or any successor rule
relating to exemption from Section 16(b) of the Exchange Act) or to qualify as
"performance-based" compensation under Section 162(m) of the Code (including
amendments as a result of changes to Rule 16b-3 or Section 162(m) or the
regulations thereunder to permit greater flexibility with respect to Stock
Options granted under the Plan), and any such amendment shall, to the extent
deemed necessary or advisable by the Committee, be applicable to any outstanding
Stock Options theretofore granted under the Plan, notwithstanding any contrary
provisions contained in any Stock Option agreement. In the event of any such
amendment to the Plan, the holder of any Stock Option outstanding under the Plan
shall, upon request of the Committee and as a condition to the exercisability
thereof, execute a conforming amendment in the form prescribed by the Committee
to any Stock Option agreement relating thereto within such reasonable time as
the Committee shall specify in such request. Notwithstanding anything contained
in this Plan to the contrary, unless required by law, no action contemplated or
permitted by this Article IX shall adversely affect any rights of Participants
or obligations of the Company to Participants with respect to any Stock Options
theretofore granted under the Plan without the consent of the affected
Participant.

                                    ARTICLE X
                               EFFECT OF THE PLAN
                               ------------------

         Neither the adoption of this Plan nor any action of the Board or the
Committee shall be deemed to give any employee or Director any right to be
granted a Stock Option to purchase or receive Common Stock of the Company or any
other rights except as may be evidenced by a Stock Option agreement, or any
amendment thereto, duly authorized by and executed on behalf of the Company and
then only to the extent of and upon the terms and conditions expressly set forth
therein.

                                   ARTICLE XI
                                      TERM
                                      ----

         The Plan shall be submitted to the Company's stockholders for their
approval. Unless sooner terminated by action of the Board, the Plan will
terminate on the 28th day of May 2012. Stock Options under the Plan may not be
granted after that date, but Stock Options granted before that date will
continue to be effective in accordance with their terms and conditions.

                                   ARTICLE XII
                               CAPITAL ADJUSTMENTS
                               -------------------

         If at any time while the Plan is in effect or unexercised Stock Options
is outstanding there shall be any increase or decrease in the number of issued
and outstanding Shares of Common Stock through the declaration of

<PAGE>

a Stock Dividend or through any recapitalization resulting in a stock split-up,
combination, or exchange of Shares of Common Stock, then and in such event:

         (a) An appropriate adjustment shall be made in the maximum number of
         Shares of Common Stock then subject to being awarded under grants
         pursuant to the Plan, to the end that the same proportion of the
         Company's issued and outstanding Shares of Common Stock shall continue
         to be subject to being so awarded;

         (b) Appropriate adjustments shall be made in the number of Shares of
         Common Stock and the exercise price per share thereof then subject to
         purchase pursuant to each such Stock Option previously granted and
         unexercised, to the end that the same proportion of the Company's
         issued and outstanding Shares of Common Stock in each instance shall
         remain subject to purchase at the same aggregate exercise price.

         Any fractional Shares resulting from any adjustment made pursuant to
this Article XII shall be eliminated for the purposes of such adjustment. Except
as otherwise expressly provided herein, the issuance by the Company of Shares of
its capital stock of any class, or securities convertible into Shares of capital
stock of any class, either in connection with direct sale or upon the exercise
of rights or warrants to subscribe therefor, or upon conversion of Shares or
obligations of the Company convertible into such Shares or other securities,
shall not affect, and no adjustment by reason thereof shall be made with respect
to, the number of or exercise price of Shares of Common Stock then subject to
outstanding Stock Options granted under the Plan.

                                  ARTICLE XIII
                            CORPORATE REORGANIZATION
                            ------------------------

         In the event of a transaction involving (i) the liquidation or
dissolution of the Company, (ii) a merger or consolidation in which the Company
is not the surviving Company or (iii) the sale or disposition of all or
substantially all of the Company's assets, provision shall be made in connection
with such transfer for the assumption of Stock Options theretofore granted under
the Plan, or the substitution for such Stock Options of new equity of the
successor Company, with appropriate adjustment as to the number and kind of
Shares and the purchase price for Shares thereunder, or, in the discretion of
the Board, the Plan and the Stock Options issued hereunder shall terminate on
the effective date of such transaction and appropriate provision shall be made
for payment to the Participant of an amount in cash equal to the Fair Market
Value of a Share multiplied by the number of Shares subject to the Stock Options
(to the extent such Stock Options have not been exercised) less the exercise
price for such Stock Options (to the extent such Stock Options have not been
exercised).

                                   ARTICLE XIV
                            MISCELLANEOUS PROVISIONS
                            ------------------------

14.1 EXERCISE OF STOCK OPTIONS. Stock Options granted under the Plan may be
exercised during the option period, at such times and in such amounts, in
accordance with the terms and conditions and subject to such restrictions as are
set forth herein and in the applicable Stock Option agreements. Notwithstanding
anything to the contrary contained herein, Stock Options may not be exercised,
nor may Shares be issued pursuant to a Stock Option if any necessary listing of
the Shares on a stock exchange or any registration under state or federal
securities laws required under the circumstances has not been accomplished.

14.2 NON-ASSIGNABILITY. A Stock Option granted to a Participant may not be
transferred or assigned, other than (i) by will or the laws of descent and
distribution or (ii) pursuant to a qualified domestic relations order (as

<PAGE>

defined in Section 401(a)(13) of the Code or Section 206(d)(3) of the Employee
Retirement Income Security Act of 1974, as amended), provided, that in the case
of an Incentive Stock Option, such transfer or assignment may occur only to the
extent it will not result in disqualifying such option as an Incentive Stock
Option under Section 422 of the Code, or any successor provision. Subject to the
foregoing, during a Participant's lifetime, Stock Options granted to a
Participant may be exercised only by the Participant or, provided the particular
Stock Option agreement so provides, by the Participant's guardian or legal
representative.

14.3 INVESTMENT INTENT. The Company may require that there be presented to and
filed with it by any Participant(s) under the Plan, such evidence as it may deem
necessary to establish that the Stock Options granted or the Shares of Common
Stock to be purchased or transferred are being acquired for investment and not
with a view to their distribution.

14.4 ALLOTMENT OF SHARES. The Committee shall determine the number of Shares of
Common Stock to be offered from time to time by grant of Stock Options to
Participants under the Plan. The grant of a Stock Option to a Participant shall
not, by itself, be deemed either to entitle the Participant to, or to disqualify
the Participant from, participation in any other grant of Stock Options under
the Plan.

14.5 NO RIGHT TO CONTINUE EMPLOYMENT. This Plan does not constitute a contract
of employment. Nothing in the Plan or in any Stock Option agreement confers upon
any employee the right to continue in the employ of the Company or interferes
with or restricts in any way the right of the Company to discharge any employee
at any time (subject to any contract rights of such employee).

14.6 STOCKHOLDERS' RIGHTS. The holder of a Stock Option shall have none of the
rights or privileges of a stockholder except with respect to Shares, which have
been actually issued.

14.7 INDEMNIFICATION OF BOARD AND COMMITTEE. No current or previous member of
the Board or the Committee, nor any officer or employee of the Company acting on
behalf of the Board or the Committee, shall be personally liable for any action,
determination, or interpretation taken or made in good faith with respect to the
Plan, and all such members of the Board or the Committee and each and any
officer or employee of the Company acting on their behalf shall, to the extent
permitted by law, be fully indemnified and protected by the Company in respect
of any such action, determination or interpretation. The foregoing right of
indemnification shall not be exclusive of any other rights of indemnification to
which such individuals may be entitled under the Company's Certificate of
Incorporation or Bylaws, as a matter of law, or otherwise.

14.8 DIVIDENDS AND DIVIDEND EQUIVALENTS. The Committee may provide that any
grants of Stock Options under the Plan may earn dividends or dividend
equivalents. Any crediting of dividends or dividend equivalents may be subject
to such restrictions and conditions as the Committee may establish, including
reinvestment in additional Shares or share equivalents.

14.9 GENDER AND NUMBER. Where the context permits, words in the masculine gender
shall include the feminine and neuter genders, the plural form of a word shall
include the singular form, and the singular form of a word shall include the
plural form.

14.10 GOVERNING LAW. The validity, interpretation and administration of the Plan
and any rules, regulations, determinations or decisions made thereunder and the
rights of any and all persons having or claiming to have any interest therein or
thereunder, shall be determined exclusively in accordance with the laws of the
State of Ohio.
<PAGE>

14.11 OTHER APPLICABLE LAWS. The obligation of the Company to sell or deliver
Shares with respect to Stock Options granted under the Plan shall be subject to
all applicable laws, rules and regulations, including all applicable federal and
state securities laws, and the obtaining of all such approvals by governmental
agencies as may be deemed necessary or appropriate by the Board.

                                   ARTICLE XV
                                 EFFECTIVE DATE
                                 --------------

              The effective date of the Plan shall be May 28, 2002, which is the
date on which it was approved by the Shareholders. The Plan will continue in
effect until the expiration of its term or until earlier terminated, amended, or
suspended in accordance with the terms hereof.<PAGE>

                                  EXHIBIT 4.02

                                 THIRD RESTATED

                          CERTIFICATE OF INCORPORATION

                                       OF

                           CAMCO FINANCIAL CORPORATION

                            (A Delaware Corporation)

                             As Adopted May 26, 1987

                  The following provisions constitute the Third Restated
Certificate of Incorporation of Camco Financial Corporation, which was
originally incorporated on October l9, 1970 under the name First Cambridge
Corporation:

                  FIRST: The name of the corporation is Camco Financial
Corporation.

                  SECOND: The address of the corporation's registered office in
the State of Delaware is: Corporation Trust Center, 1209 Orange Street, County
of New Castle, Wilmington, Delaware 19801. The name of its registered agent at
such address is The Corporation Trust Company.

                  THIRD: The purposes of the corporation are:

                  (l)      To acquire and own savings and loan associations; and

                  (2) To engage in any lawful act or activity for which
corporations may be organized under the General Corporation Law of Delaware.

                  FOURTH: The total number of shares of stock which the
corporation shall have authority to issue is two million (2,000,000), of which
stock one million nine hundred thousand (1,900,000) shares shall be common
shares of the par value of One Dollar ($1) each, amounting in the aggregate to
One Million Nine Hundred Thousand Dollars ($1,900,000), and one hundred thousand
(100,000) shares shall be preferred shares of the par value of One Dollar ($1)
each, amounting in the aggregate to One Hundred Thousand Dollars ($100,000).
There is hereby granted to the Board of Directors of the corporation the
authority to fix by resolution or resolutions any and all powers, designations,
preferences and relative, participating, optional or other rights, or the
qualifications, limitations or restrictions thereof, of shares of the preferred
stock, or of any series of the preferred stock, of the corporation that are
permitted by the General Corporation Law of Delaware to be fixed by the Board of
Directors, and such grant of authority shall include the power to specify the
number of shares of any series of the preferred stock of the corporation.

                  FIFTH: The corporation is to have perpetual existence.

                  SIXTH: Whenever a compromise or arrangement is proposed
between this corporation and its creditors or any class of them and/or between
this corporation and its stockholders or any class of them, any court of
equitable jurisdiction within the State of Delaware may, on the application in a
summary way of this corporation or of any creditor or stockholder thereof or on
the application of any receiver or receivers appointed for this corporation
under the provisions of Section 291 of Title 8 of the Delaware Code or on the
application of trustees in dissolution or of any receiver or receivers appointed
for this corporation under the provisions of

<PAGE>

Section 279 of Title 8 of the Delaware Code order a meeting of the creditors or
class of creditors, and/or of the stockholders or class of stockholders of this
corporation, as the case may be, to be summoned in such manner as the said court
directs. If a majority in number representing three-fourths in value of the
creditors or a class of creditors, and/or of the stockholders or class of
stockholders of this corporation, as the case may be, agree to any compromise or
arrangement and to any reorganization of this corporation as consequence of such
compromise or arrangement, the said compromise or arrangement and the said
reorganization shall, if sanctioned by the court to which the said application
has been made, be binding on all the creditors or class of creditors, and/or all
the stockholders or class of stockholders, of this corporation, as the case may
be, and also on this corporation.

                  SEVENTH: No election of Directors need be by written ballot.

                  EIGHTH: Any Director or the entire Board of Directors may be
removed only by the affirmative vote of not less than 80% of the outstanding
stock entitled to vote at an election of Directors, and such removal may be
effected only for cause; provided, however, that if any class or series of stock
shall entitle the holders thereof to elect one or more Directors, any Director
or all the Directors elected by such holders may be removed only by the
affirmative vote of not less than 80% of the outstanding stock of such class or
series entitled to vote at an election of such Directors, and such removal may
be effected only for cause. Any such removal shall be deemed to create a vacancy
in the Board of Directors.

                  NINTH:   When used in the Certificate of Incorporation:

                  (l) An "Affiliate" of a specified Person is a Person that
directly, or indirectly through one or more intermediaries, controls, or is
controlled by, or is under common control with, the Person specified.

                  (2) The term "Associate" used to indicate a relationship with
any Person shall mean (A) any corporation or organization (other than this
corporation or a subsidiary) of which such Person is an officer or partner or
is, directly or indirectly, the beneficial owner of ten percent (10%) or more of
any class of Equity Security, (B) any trust or other estate in which such Person
has a substantial beneficial interest or as to which such Person serves as
trustee or in a similar fiduciary capacity, and (C) any relative or spouse of
such Person, or any relative of such spouse, who has the same home as such
Person, or is an officer or director of any corporation controlling or
controlled by such Person.

                  (3) "Beneficial Ownership" shall be determined pursuant to
Rule 13d-3 of the General Rules and Regulations under the Securities Exchange
Act of 1934 (or any successor rule or statutory provision) or, if said Rule
13d-3 shall be rescinded and there shall be no successor rule or statutory
provision thereto, pursuant to said Rule 13d-3 as in effect on May 26, 1987;
provided, however, that a Person shall, in any event, also be deemed to be the
"Beneficial Owner" of any shares of Voting Stock:

                           (A) that such Person or any of its Affiliates or
                  Associates beneficially own, directly or indirectly; or

                           (B) that such Person or any of its Affiliates or
                  Associates has (i) the right to acquire (whether such right is
                  exercisable immediately or only after the passage of time),
                  pursuant to any agreement, arrangement or understanding (but
                  shall not be deemed to be the beneficial owner of any shares
                  of Voting Stock solely by reason of an agreement, arrangement
                  or understanding with the corporation to effect a Business
                  Combination) or upon the exercise of conversion rights,
                  exchange rights, warrants, or options, or otherwise, or (ii)
                  sole or shared voting or investment power with respect thereto
                  pursuant to any agreement, arrangement, understanding,
                  relationship or otherwise (but shall not be deemed to be the
                  beneficial owner of any shares of Voting Stock solely by
                  reason of a revocable proxy granted for a particular meeting
                  of stockholders, pursuant to a public solicitation of proxies
                  for such meeting, with respect to shares of which neither such
                  Person nor any such Affiliate or Associate is otherwise deemed
                  the beneficial owner); or

                           (C) that are beneficially owned, directly or a
                  indirectly, by any other Person with which such first
                  mentioned Person or any of its Affiliates or Associates acts
                  as a partnership,

<PAGE>

                  limited partnership, syndicate or other group pursuant to any
                  agreement, arrangement or understanding for the purpose of
                  acquiring, holding, voting or disposing of any shares of
                  capital stock of the corporation; and provided further,
                  however, that (i) no Director or officer of the corporation,
                  nor any Associate or Affiliate of any such Director or
                  officer, shall, solely by reason of any or all such Directors
                  and officers acting in their capacities as such, be deemed,
                  for any purposes hereof, to beneficially own any shares of
                  Voting Stock beneficially owned by any other such Director or
                  officer (or any Associate or Affiliate thereof), and (ii) no
                  employee stock ownership or similar plan of the corporation or
                  any Subsidiary nor any trustee with respect thereto, nor any
                  Associate or Affiliate of any such trustee, shall, solely by
                  reason of such capacity of such trustee, be deemed, for any
                  purposes hereof, to beneficially own any shares of Voting
                  Stock held under any such plan.

                  For purposes of computing the percentage Beneficial Ownership
of shares of Voting Stock of a Person in order to determine whether such Person
is a Substantial Stockholder, the outstanding shares of Voting Stock shall
include shares deemed owned by such Person through application of this paragraph
(3) but shall not include any other shares of Voting Stock which may be issuable
by the corporation pursuant to any agreement, or upon the exercise of conversion
rights, warrants or options, or otherwise. For all other purposes, the
outstanding shares of Voting Stock shall include only shares of Voting Stock
then outstanding and shall not include any shares of Voting Stock which may be
issuable by the corporation pursuant to any agreement, or upon the exercise of
conversion rights, warrants or options, or otherwise.

                  (4) The term "Business Combination" shall mean any transaction
which is described in any one or more of the clauses (A) through (E) of
paragraph (l) of Article ELEVENTH of the Certificate of Incorporation.

                  (5) "Continuing Director" shall mean a Person who was a member
of the Board of Directors of the corporation as of May 26, 1987, or thereafter
elected by the stockholders or appointed by the Board of Directors of the
corporation prior to the date as of which the Substantial Stockholder in
question became a Substantial Stockholder, or a Person designated (before his
initial election or appointment as a director) as a Continuing Director by
three-fourths (3/4) of the Whole Board, but only if a majority of the Whole
Board shall then consist of Continuing Directors.

                  (6) "Equity Security" shall have the meaning given to such
term under Rule 3al1-1 of the General Rules and Regulations under the Securities
Exchange Act of 1934, as in effect on May 26, 1987.

                  (7) A "Person" shall mean any individual, firm, corporation or
other entity.

                  (8) "Subsidiary" shall mean any corporation of which a
majority of any class of Equity Security is owned, directly or indirectly, by
the corporation; provided, however, that for the purposes of the definition of
Substantial Stockholder set forth in paragraph (10) of this ARTICLE NINTH, the
term "Subsidiary" shall mean only a corporation of which a majority of each
class of Equity Security is owned, directly or indirectly, by the corporation.

                  (9) "Substantial Part" shall mean assets having a book value
(determined in accordance with generally accepted accounting principles) in
excess of ten percent (10%) of the book value (determined in accordance with
generally accepted accounting principles) of the total consolidated assets of
the corporation, at the end of its most recent fiscal year ending prior to the
time the determination is made.

                  (10) "Substantial Stockholder" shall mean any Person who or
which, as of the record date for the determination of stockholders entitled to
notice of and to vote on any Business Combination, or immediately prior to the
consummation of any such Business Combination:

                           (A) is the Beneficial Owner, directly or indirectly,
                  of more than fifteen percent (15%) of the shares of Voting
                  Stock (determined solely on the basis of the total number of
                  shares of Voting Stock so Beneficially Owned (and without
                  giving effect to the number or percentage

<PAGE>

                  of votes entitled to be cast in respect of such shares) in
                  relation to the total number of shares of Voting Stock then
                  issued and outstanding), or

                           (B) is an Affiliate of the corporation and at any
                  time within three years prior thereto was the Beneficial
                  Owner, directly or indirectly, of more than fifteen percent
                  (15%) of the then outstanding Voting Stock (determined as
                  aforesaid), or

                           (C) is an assignee of or has otherwise succeeded to
                  any shares of capital stock of the corporation which were at
                  any time within three years prior thereto Beneficially Owned
                  by any Substantial Stockholder, and such assignment or
                  succession shall have occurred in the course of a transaction
                  or series of transactions not involving a public offering
                  within the meaning of the Securities Act of 1933.

                  Notwithstanding the foregoing, a Substantial Stockholder shall
not include (a) the corporation or any Subsidiary or (b) any profit-sharing,
employee share ownership or other employee benefit plan of the corporation or
any Subsidiary, or any trustee of or fiduciary with respect to any such plan
when acting in such capacity.

                  (11) "Voting Stock" shall mean any shares of capital stock of
the corporation entitled to vote generally in the election of directors.

                  (12) "Whole Board" shall mean the total number of Directors
which the corporation would have if there were no vacancies; I.E., the whole
authorized number of Directors.

                  TENTH: Any action required or permitted to be taken by the
stockholders of the corporation must be taken pursuant to a vote of such
stockholders at an annual or special meeting of such stockholders that is duly
held pursuant to notice. No action required or permitted to be taken by the
stockholders of the corporation at any annual or special meeting of such
stockholders may be taken pursuant to one or more consents in writing signed by
the holders of all or any other portion of the outstanding stock entitled to
vote on such action. Except as otherwise required by law and subject to any
rights afforded by any provision of the Certificate of Incorporation to holders
of any class or series of capital stock of the corporation having a preference
over the common stock as to dividends or upon liquidation, special meetings of
stockholders of the corporation may be called only by the President or by the
Board of Directors pursuant to a resolution duly adopted by a majority of the
Whole Board or by a writing signed by a majority of the Whole Board.

                  ELEVENTH:

                  (1) In addition to any vote required by law or under any other
provision of the Certificate of Incorporation or any resolution or resolutions
adopted by the Board of Directors pursuant to its authority under Article FOURTH
of the Certificate of Incorporation, and except as otherwise expressly provided
in this Article ELEVENTH:

                           (A) any merger or consolidation of the corporation or
                  any Subsidiary with or into (i) any Substantial Stockholder or
                  (ii) any other corporation (whether or not itself a
                  Substantial Stockholder) which, after such merger or
                  consolidation, would be an Affiliate of a Substantial
                  Stockholder, or

                           (B) any sale, lease, exchange, mortgage, pledge,
                  transfer or other disposition (in one transaction or a series
                  of related transactions) to or with any Substantial
                  Stockholder of any Substantial Part of the assets of the
                  corporation or of any Subsidiary, or

                           (C) the issuance or transfer by the corporation or by
                  any Subsidiary (in one transaction or a series of related
                  transactions) of any Equity Securities of the corporation or
                  any Subsidiary to any Substantial Stockholder in exchange for
                  cash, securities or other property (or a combination thereof)
                  having an aggregate fair market value equal to or in excess of
                  sixty percent

<PAGE>

                  (60%) of the amount of stockholders' equity reflected on the
                  corporation's audited balance sheet as of the end of its most
                  recent fiscal year (which shall be prepared on a consolidated
                  basis by the corporation's independent certified public
                  accountants in accordance with generally accepted accounting
                  principles), or

                           (D) the adoption of any plan or proposal for the
                  liquidation or dissolution of the corporation if, as of the
                  record date for the determination of stockholders entitled to
                  notice thereof and to vote thereon, any person shall be a
                  Substantial Stockholder, or

                           (E) any reclassification of securities (including any
                  reverse stock split) or recapitalization of the corporation,
                  or any reorganization, merger or consolidation of the
                  corporation with any of its Subsidiaries or any similar
                  transaction (whether or not with or into or otherwise
                  involving a Substantial Stockholder) that has the effect,
                  directly or indirectly, of increasing the proportionate share
                  of the outstanding securities of any class of equity
                  securities of the corporation or any Subsidiary which is
                  directly or indirectly Beneficially Owned by any Substantial
                  Stockholder,

shall (except as otherwise expressly provided in the Certificate of
Incorporation) require the affirmative vote of not less than 80% of all
outstanding shares of Voting Stock; provided that such affirmative vote must
include the affirmative vote of a majority of all outstanding shares of Voting
Stock not beneficially owned by the Substantial Stockholder in question. Each
such affirmative vote shall be required notwithstanding the fact that no vote
may be required, or that some lesser percentage may be specified, by law or in
any agreement with any national securities exchange or otherwise.

                  (2) The provisions of this Article ELEVENTH shall not be
applicable to any Business Combination, the terms of which shall be approved,
either in advance of or subsequent to a Substantial Stockholder having become a
Substantial Stockholder, by three-fourths (3/4) of the Whole Board, but only if
a majority of the members of the Board of Directors in office and acting upon
such matter shall be Continuing Directors.

                  (3) A majority of the Continuing Directors then in office
shall have the power to determine for the purposes of this Article ELEVENTH, on
the basis of information known to them:

                           (A) The number of shares of Voting Stock beneficially
                  owned by any Person;

                           (B) Whether a Person is an Affiliate or Associate of
                  another;

                           (C) Whether the assets subject to any Business
                  Combination constitute a Substantial Part of the assets of the
                  corporation in question; and/or

                           (D) Any other factual matter relating to the
                  applicability or effect of this Article ELEVENTH.

                  (4) A majority of the Continuing Directors then in office
shall have the right to demand that any Person who is reasonably believed to be
a Substantial Stockholder (or holder of record shares of Voting Stock
beneficially owned by any Substantial Stockholder) supply to the corporation
complete information as to:

                           (A) The record owner(s) of all shares beneficially
                  owned by such Person who is reasonably believed to be a
                  Substantial Stockholder;

                           (B) The number of, and each class or series of,
                  shares Beneficially Owned by such Person who is reasonably
                  believed to be a Substantial Stockholder and held of record by
                  each such record owner and the number(s) of the stock
                  certificate(s) evidencing such shares; and

<PAGE>

                           (C) Any other factual matter relating to the
                  applicability or effect of this Article ELEVENTH as may be
                  reasonably requested of such Person, and such Person shall
                  furnish such information within 10 days after receipt of such
                  demand.

                  (5) Any determination made by the Board of Directors, or by
the Continuing Directors, as the case may be, pursuant to this Article ELEVENTH
in good faith and on the basis of such information and assistance as was then
reasonably available for such purpose shall be conclusive and binding upon the
corporation and its stockholders, including any Substantial Stockholder.

                  (6) Nothing contained in this Article ELEVENTH shall be
construed to relieve any Substantial Stockholder from any fiduciary obligation
imposed by law.

                  TWELFTH: The Board of Directors of the corporation, when
evaluating any offer of another party to make a tender or exchange offer for any
Equity Security of the corporation to merge or consolidate the corporation with
another corporation, or to purchase or otherwise acquire all or a Substantial
Part of the properties and assets of the corporation, or any proposal for the
liquidation or dissolution of the corporation shall, in connection with the
exercise of its judgment in determining what is in the best interests of the
corporation and its stockholders, give due consideration to all relevant
factors, including without limitation:

                  (A) The best interest of the stockholders. For this purpose,
the Directors shall consider, among other factors, not, only the consideration
offered in relation to the then current market price of the outstanding stock of
the corporation, but also in relation to the current value of the corporation in
a freely negotiated transaction and in relation to the Board of Directors' then
current estimate of the future value of the corporation as an independent entity
or as the subject of a future transaction; and

                  (B) The best interests of depositors of savings institutions
affiliated with the corporation; and

                  (C) Such other factors as the Board of Directors determines to
be relevant, including, among other factors, the social, legal and economic
effects upon (i) employees, suppliers, customers and the business of the
corporation and any Subsidiary and (ii) each community in which the corporation
or any Subsidiary operates or is located.

                  THIRTEENTH: No Director of the corporation shall be liable to
the corporation or its stockholders for monetary damages for breach of fiduciary
duty as a director, except for liability:

                  (1) For any breach of the Director's duty of loyalty to the
corporation or its stockholders,

                  (2) For acts or omissions not in good faith or which involve
intentional misconduct or a knowing violation of law,

                  (3) Under Section 174 of the General Corporation Law of
Delaware, or

                  (4) For any transaction from which the Director derived an
improper personal benefit.

                  If the General Corporation Law of Delaware is amended after
approval by the stockholders of this Article THIRTEENTH to authorize corporate
action further eliminating or limiting the personal liability of directors, then
the liability of a director of the corporation shall be eliminated or limited to
the fullest extent permitted by the General Corporation Law of Delaware, as so
amended.

                  Any repeal or modification of this Article THIRTEENTH by the
stockholders of the corporation shall not adversely affect any right or
protection of a Director of the corporation existing at the time of such repeal
or modification.

                  FOURTEENTH:

<PAGE>

                  (1) Except as otherwise provided in any By-Law adopted by the
stockholders, the By-Laws may be altered, amended or repealed by the affirmative
vote of not less than a majority of the Whole Board; provided, however, that any
By-Law that provides for the division of the Directors into classes having
staggered terms may be adopted, altered, amended or repealed only by the
stockholders.

                  (2) No By-Law of the corporation shall be adopted, repealed,
altered, amended or rescinded by the stockholders of the corporation except by
the affirmative vote of at least 80% of the Voting Stock entitled to vote
thereon. Any amendment to the Certificate of Incorporation which shall
contravene any By-Law in existence on the record date of the meeting of
stockholders at which such amendment is to be voted upon by the stockholders
shall require the affirmative vote of at least 80% of the Voting Stock entitled
to vote thereon.

                  FIFTEENTH:

                  (1) In addition to any requirements of law and any other
provisions of the Certificate of Incorporation or any resolution or resolutions
of the Board of Directors adopted pursuant to Article FOURTH of the Certificate
of Incorporation (and notwithstanding the fact that a lesser percentage may be
specified by law, the Certificate of Incorporation, any such resolution or
resolutions or otherwise), the affirmative vote of at least 80% of the Voting
Stock shall be required to amend, alter or repeal, or to adopt any provision
inconsistent with, Articles EIGHTH, NINTH, TENTH, TWELFTH, THIRTEENTH,
FOURTEENTH or FIFTEENTH of the Certificate of Incorporation, and the affirmative
vote of at least 80% of the Voting Stock, including at least a majority of the
Voting Stock not beneficially owned by a Substantial Stockholder, shall be
required to amend, alter or repeal, or to adopt any provision inconsistent with,
Article ELEVENTH of the Certificate of Incorporation.

                  (2) Subject to the provisions of Paragraph (1) of this Article
FIFTEENTH, the corporation reserves the right to amend, alter, change or repeal
any provision contained in the Certificate of Incorporation, in the manner now
or hereafter prescribed by statute, and all rights conferred on stockholders
herein are granted subject to this reservation.

                  This Third Restated Certificate of Incorporation was adopted
by the stockholders of Camco Financial Corporation in accordance with the
provisions of Sections 242 and 245 of the General Corporation Law of Delaware
and was executed at Cambridge, Ohio on May 26, 1987.

                                            /s/ Larry A. Caldwell
                                            -------------------------------
                                            Larry A. Caldwell, President of
                                              Camco Financial Corporation

ATTEST:

/s/ Anthony J. Popp
---------------------------------
Anthony J. Popp, Secretary of
  Camco Financial Corporation

<PAGE>

                            CERTIFICATE OF AMENDMENT
                                       OF
                                 THIRD RESTATED
                          CERTIFICATE OF INCORPORATION

                  Camco Financial Corporation, a corporation organized and
existing under and by virtue of the General Corporation Law of the State of
Delaware, DOES HEREBY CERTIFY:

                  FIRST: That at a meeting of the Board of Directors of Camco
Financial Corporation, resolutions were duly adopted setting forth a proposed
amendment to the Third Restated Certificate of Incorporation of said
corporation, declaring said amendment to be advisable and directing that the
amendment be considered at the next annual meeting of the stockholders. The
resolution setting forth the proposed amendment is as follows:

                  RESOLVED, that Article Fourth of the Corporation's Third
         Restated Certificate of Incorporation be amended to read as follows:

                  FOURTH: The total number of shares of stock which the
                  corporation shall have authority to issue is Two Million Six
                  Hundred Thousand (2,600,000), of which stock Two Million Five
                  Hundred Thousand (2,500,000) shares shall be common shares of
                  the par value of One Dollar ($1) each, amounting in the
                  aggregate to Two Million Five Hundred Thousand Dollars
                  ($2,500,000), and one hundred thousand (100,000) shares shall
                  be preferred shares of the par value of One Dollar ($1) each,
                  amounting in the aggregate to One Hundred Thousand Dollars
                  ($100,000). There is hereby granted to the Board of Directors
                  of the corporation the authority to fix by resolution or
                  resolutions any and all powers, designations, preferences and
                  relative, participating, optional or other rights, or the
                  qualifications, limitations or restrictions thereof, of shares
                  of the preferred stock, or of any series of the preferred
                  stock, of the corporation that are permitted by the General
                  Corporation Law of Delaware to be fixed by the Board of
                  Directors, and such grant of authority shall include the power
                  to specify the number of shares to any series of the preferred
                  stock of the corporation.

                  SECOND: That thereafter, pursuant to resolution of its Board
of Directors, a special meeting of the stockholders of said corporation was duly
called and held, upon notice in accordance with Section 222 of the General
Corporation Law of the State of Delaware, at which meeting the necessary number
of shares as required by statute were voted in favor of the amendment.

                  THIRD: That said amendment was duly adopted in accordance with
the provisions of Section 242 of the General Corporation Law of the State of
Delaware.

<PAGE>

                  IN WITNESS WHEREOF, Camco Financial Corporation has caused
this certificate to be signed by Larry A. Caldwell, its President, and attested
by Anthony J. Popp, its Secretary, this 12th day of July, 1994.

                                          By:   /s/  Larry A. Caldwell
                                             ---------------------------------
                                                 Larry A. Caldwell, President

ATTEST:

By:  /s/ Anthony J. Popp
    ----------------------------
      Anthony J. Popp, Secretary

<PAGE>

                            CERTIFICATE OF AMENDMENT
                                       OF
                                 THIRD RESTATED
                          CERTIFICATE OF INCORPORATION

                  Camco Financial Corporation, a corporation organized and
existing under and by virtue of the General Corporation Law of the State of
Delaware, DOES HEREBY CERTIFY:

                  FIRST: That at a meeting of the Board of Directors of camco
Financial Corporation, resolutions were duly adopted setting forth a proposed
amendment to the Third Restated Certificate of Incorporation of said
corporation, declaring said amendment to be advisable and directing that the
amendment be considered at a special annual meeting of the stockholders. The
resolution setting forth the proposed amendment is as follows:

                  RESOLVED, that Article Fourth of the Corporation's Third
         Restated Certificate of Incorporation be amended to read as follows:

                  FOURTH: The total number of shares of stock which the
                  corporation shall have authority to issue is Five Million
                  (5,000,000), of which stock Four Million Nine Hundred Thousand
                  (4,900,000) shares shall be common shares of the par value of
                  One Dollar ($1) each, amounting in the aggregate to Four
                  Million Nine Hundred Thousand ($4,900,000) and one hundred
                  thousand (100,000) shares shall be preferred shares of the par
                  value of One Dollar ($1) each, amounting in the aggregate to
                  One Hundred Thousand Dollars ($100,000). There is hereby
                  granted to the Board of Directors of the corporation the
                  authority to fix by resolution or resolutions any and all
                  powers, designations, preferences and relative, participating,
                  optional or other rights, or the qualifications, limitations
                  or restrictions thereof, of shares of the preferred stock, or
                  of any series of the preferred stock, of the corporation that
                  are permitted by the General Corporation Law of Delaware to be
                  fixed by the Board of Directors, and such grant of authority
                  shall include the power to specify the number of shares to any
                  series of the preferred stock of the corporation.

                  SECOND: That thereafter, pursuant to resolution of its Board
of Directors, a special meeting of the stockholders of said corporation was duly
called and held, upon notice in accordance with Section 222 of the General
Corporation Law of the State of Delaware, at which meeting the necessary number
of shares as required by statute were voted in favor of the amendment.

                  THIRD: That said amendment was duly adopted in accordance with
the provisions of Section 242 of the General Corporation Law of the State of
Delaware.

<PAGE>

                  IN WITNESS WHEREOF, Camco Financial Corporation has caused
this certificate to be signed by Larry A. Caldwell, its President, and attested
by Anthony J. Popp, its Secretary, this 23rd day of September, 1996.

                                         By:   /s/  Larry A. Caldwell
                                            ---------------------------------
                                                Larry A. Caldwell, President

ATTEST:

By:  /s/ Anthony J. Popp
    ----------------------------
      Anthony J. Popp, Secretary

<PAGE>

                            CERTIFICATE OF AMENDMENT
                                       OF
                                 THIRD RESTATED
                          CERTIFICATE OF INCORPORATION

                  Camco Financial Corporation, a corporation organized and
existing under and by virtue of the General Corporation Law of the State of
Delaware, DOES HEREBY CERTIFY:

                  FIRST: That at a meeting of the Board of Directors of Camco
Financial Corporation, a resolution was duly adopted setting forth a proposed
amendment to the Third Restated Certificate of Incorporation of said
corporation, declaring said amendment to be advisable and directing that the
amendment be considered at the 1998 annual meeting of the stockholders. The
resolution setting forth the proposed amendment is as follows:

                  RESOLVED, that Article Fourth of the Corporation's Third
Restated Certificate of Incorporation be amended to read as follows:

                  FOURTH: The total number of shares of stock which the
                  corporation shall have the authority to issue is Nine Million
                  (9,000,000), of which stock Eight Million Nine Hundred
                  Thousand (8,900,000) shares shall be common shares of the par
                  value of One Dollar ($1) each, amounting in the aggregate to
                  Eight Million Nine Hundred Thousand Dollars ($8,900,000), and
                  One Hundred Thousand (100,000) shares shall be preferred
                  shares of the par value of One Dollar ($1) each, amounting in
                  the aggregate to One Hundred Thousand Dollars ($100,000).
                  There is hereby granted to the Board of Directors of the
                  corporation the authority to fix by resolution or resolutions
                  any and all powers, designations, preferences and relative,
                  participating, optional or other rights, or the
                  qualifications, limitations or restrictions thereof, of shares
                  of the preferred stock, or of any series of the preferred
                  stock, of the corporation that are permitted by the General
                  Corporation Law of Delaware to be fixed by the Board of
                  Directors, and such grant of authority shall include the power
                  to specify the number of shares to any series of the preferred
                  stock of the corporation.

                  SECOND: That thereafter, at the 1998 annual meeting of
stockholders of said corporation, which was duly called and held, upon notice in
accordance with Section 222 of the General Corporation Law of the State of
Delaware, the necessary number of shares as required by statute were voted in
favor of the amendment.

                  THIRD: That said amendment was duly adopted in accordance with
the provisions of Section 242 of the General Corporation law of the State of
Delaware.

<PAGE>

                  IN WITNESS WHEREOF, Camco Financial Corporation has caused
this certificate to be signed by Larry A. Caldwell, its President, and attested
by Anthony J. Popp, its Secretary, this 29th day of May, 1998.

                                     By:   /s/  Larry A. Caldwell
                                        ---------------------------------
                                            Larry A. Caldwell, President

ATTEST:

By:  /s/ Anthony J. Popp
    ----------------------------
      Anthony J. Popp, Secretary

<PAGE>

                            CERTIFICATE OF AMENDMENT
                                       OF
                                 THIRD RESTATED
                          CERTIFICATE OF INCORPORATION

                  Camco Financial Corporation, a corporation organized and
existing under and by virtue of the General Corporation Law of the State of
Delaware, DOES HEREBY CERTIFY:

                  FIRST: That at a meeting of the Board of Directors of Camco
Financial Corporation, a resolution was duly adopted setting forth a proposed
amendment to the Third Restated Certificate of Incorporation of said
corporation, declaring said amendment to be advisable and directing that the
amendment be considered at a special meeting of the stockholders. The resolution
setting forth the proposed amendment is as follows:

                  RESOLVED, that Article Fourth of the Corporation's Third
Restated Certificate of Incorporation be amended to read as follows:

                  FOURTH: The total number of shares of stock which the
                  corporation shall have the authority to issue is Fifteen
                  Million (15,000,000), of which stock Fourteen Million Nine
                  Hundred Thousand (14,900,000) shares shall be common shares of
                  the par value of One Dollar ($1.00) each, amounting in the
                  aggregate to Fourteen Million Nine Hundred Thousand Dollars
                  ($14,900,000), and One Hundred Thousand (100,000) shares shall
                  be preferred shares of the par value of One Dollar ($1.00)
                  each, amounting in the aggregate to One Hundred Thousand
                  Dollars ($100,000). There is hereby granted to the Board of
                  Directors of the corporation the authority to fix by
                  resolution or resolutions any and all powers, designations,
                  preferences and relative, participating, optional or other
                  rights, or the qualifications, limitations or restrictions
                  thereof, of shares of the preferred stock, or of any series of
                  the preferred stock, of the corporation that are permitted by
                  the General Corporation Law of Delaware to be fixed by the
                  Board of Directors, and such grant of authority shall include
                  the power to specify the number of shares to any series of the
                  preferred stock of the corporation.

                  SECOND: That thereafter, pursuant to resolution of its Board
of Directors, a special meeting of the stockholders was duly called and held,
upon notice in accordance with Section 222 of the General Corporation Law of the
State of Delaware, at which meeting the necessary number of shares as required
by statute were voted in favor of the amendment.

                  THIRD: That said amendment was duly adopted in accordance with
the provisions of Section 242 of the General Corporation law of the State of
Delaware.

<PAGE>

                  IN WITNESS WHEREOF, Camco Financial Corporation has caused
this certificate to be signed by Larry A. Caldwell, its President, and attested
by Gary E. Crane, its Treasurer, this 20th day of December, 1999.

                                         By: /s/ Larry A. Caldwell
                                           ----------------------------------
                                               Larry A. Caldwell, President

ATTEST:

By: /s/ Gary E. Crane
   -----------------------------------------
      Gary E. Crane, Treasurer

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