Westfield Financial (WFD)

Compensation Committee

The Compensation Committee is composed of three directors: Charles E. Sullivan, Mary C. O’Neil and Paul R. Pohl, with Director Pohl serving as Chairperson of the Committee. All members of our Compensation Committee are independent (as independence is currently defined in Section 4200(a)(15) of the Nasdaq listing standards). As required by its charter, the Compensation Committee meets at least three times annually and with greater frequency if necessary. During 2008, the Compensation Committee met four times. The Board of Directors has adopted a written charter for the Compensation Committee that is available to shareholders on our website at www.westfieldbank.com.

Pursuant to its charter, the Compensation Committee’s responsibilities include:

The Compensation Committee also reviews and discusses with management the “Compensation Discussion and Analysis” section of our proxy statements and considers whether to recommend to the full Board that it be included in our proxy statements and other filings.

Compensation Committee

Harry C. Lane, Chairperson

Paul R. Pohl

Thomas C. Sullivan

Compensation Committee Interlocks and Insider Participation. None of Westfield Financial’s executive officers served as a member of another entity’s Board of Directors or as a member of the Compensation Committee (or other board committee performing equivalent functions) during 2005, which entity had an executive officer serving on the Board of Directors or as a member of Westfield Financial’s Compensation Committee. There are no interlocking relationships between Westfield Financial and other entities that might affect the determination of the compensation of our executive officers.

112

Table of Contents

Performance Graph. The following graph compares our total cumulative stockholder return by an investor who invested $100.00 on December 28, 2001, the date following Westfield Financial’s conversion, to December 31, 2005, to the total return by an investor who invested $100.00 in each of the Russell 2000 Index and the Nasdaq Bank Index for the same period.

113

Table of Contents