PROVIDENT FINANCIAL GROUP INC
EMPLOYMENT AGREEMENT
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<TYPE>EX-10
<SEQUENCE>3
<FILENAME>ex10060602.htm
<DESCRIPTION>EMPLOYMENT AGREEMENT
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<TITLE> Exhibit 10
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<H4 ALIGN=CENTER>Exhibit 10</H4>

<P>December 3, 2001</P>



<P>James L. Gertie<BR>
2 Alonesos Way<BR>
Andover, Massachusetts   01810<BR><BR>

Dear Jim:</P>


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<TD WIDTH=35%>1.&nbsp;&nbsp;&nbsp;Annualized Salary:</TD>
<TD WIDTH=65%>                  $350,000
</TD>
</TR>
</TABLE>
<BR>
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<TD WIDTH=35%>2.&nbsp;&nbsp;&nbsp;Performance Bonus (for 2002):</TD>
<TD WIDTH=65%>       $350,000, based on your performance and
                                      overall Provident performance, payable
                                      February 2003.
</TD>
</TR>
</TABLE>
<BR>
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<TD WIDTH=35%>3.&nbsp;&nbsp;&nbsp;Stock Options:</TD>
<TD WIDTH=65%>
 100,000 Provident Financial Group (PFGI) options under the 1997
Employee Stock Option Plan, with 5-year vesting schedule, 10-year term.
Immediate vesting in the event of a change in control of PFGI (the dissolution
or liquidation of PFGI or any merger, other than a merger for the purpose of the
redomestication of PFGI not involving a change in control, consolidation,
exchange or other transaction in which PFGI is not the surviving corporation or
in which the outstanding shares of PFGI are converted into cash, other
securities or other property).</TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=35%>4.&nbsp;&nbsp;&nbsp;Signing Bonus: </TD>
<TD WIDTH=65%>
$250,000, to vest in equal annual installments on the first three
start date anniversaries. The signing bonus will vest immediately in the event
of a change in control of PFGI (as defined above). All unvested amounts shall be
immediately repaid to the Provident by you in the event of the termination of
the your employment for any reason other than a termination without cause by
Provident, or your death or permanent total disability as determined pursuant to
the Provident&#146;s Long Term Disability Plan.</TD>
</TR>
</TABLE>
<BR>
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<TD WIDTH=35%>5.&nbsp;&nbsp;&nbsp;Title:</TD>
<TD WIDTH=65%>                             Executive Vice President, Chief Credit and
                                      Risk Officer.
</TD>
</TR>
</TABLE>
<BR>
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<TD WIDTH=35%>6.&nbsp;&nbsp;&nbsp;Change in Control:</TD>
<TD WIDTH=65%>
 If any change in control (as defined above) occurs during the
3-year period following your start date, your base salary and performance bonus
is guaranteed for the greater of (i) the remainder of such 3-year period or (ii)
twelve months following the effective date of change in control. In the event of
a change in control following the third anniversary of the start date, your base
salary and performance bonus is guaranteed for a twelve-month period following
the effective date of change in control.</TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=35%>7.&nbsp;&nbsp;&nbsp;Relocation:</TD>
<TD WIDTH=65%> Coverage as detailed in the enclosed
                                      comprehensive policy.
</TD>
</TR>
</TABLE>
<BR>
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<TD WIDTH=35%>8.&nbsp;&nbsp;&nbsp;Benefits:</TD>
<TD WIDTH=65%>
      All rights and privileges as provided to
                                      all Bank employees generally (feel free to
                                      contact Debbie Strawser, Senior Vice
                                      President, Human Resources at (513) 763-4083.
</TD>
</TR>
</TABLE>
<BR>
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<TD WIDTH=35%>9.&nbsp;&nbsp;&nbsp;Deferred Compensation Plan:</TD>
<TD WIDTH=65%>
       Eligible January 1, 2002.
</TD>
</TR>
</TABLE>
<BR>
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<TD WIDTH=35%>10.&nbsp;&nbsp;&nbsp;Vacation:</TD>
<TD WIDTH=65%>           Four weeks.
</TD>
</TR>
</TABLE>
<BR>
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<TD WIDTH=35%>11.&nbsp;&nbsp;&nbsp;Drug Test &amp; Bondability:</TD>
<TD WIDTH=65%>
          Offer contingent upon passing the drug exam
                                      and bondability.
</TD>
</TR>
</TABLE>
<BR>
<P>Jim, I look forward to your
joining us on Monday, December 10, 2001. If you agree with the terms of this
offer, please sign below and return a copy to me. </P>

Sincerely,<BR><BR><BR>


/s/Robert L. Hoverson<BR>
<HR WIDTH=20% ALIGN=LEFT>
Robert L. Hoverson<BR>
President &amp; Chief Executive Officer
<BR><BR>

Agreed and accepted:<BR><BR><BR>

/s/James L. Gertie<BR>
<HR WIDTH=20% ALIGN=LEFT>
James L. Gertie<BR><BR>

Date:  12/10/01

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