Exhibit 10.18

ASTORIA FINANCIAL CORPORATION
2005 RE-DESIGNATED, AMENDED AND RESTATED STOCK INCENTIVE PLAN FOR OFFICERS AND
EMPLOYEES
RESTRICTED STOCK AWARD NOTICE

 

 

 

 

 

George L. Engelke, Jr.

 

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

Name of Award Recipient

 

Social Security Number

 

 

 

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

 

 

 

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

 

Street Address

 

 

 

NY

 

 

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

City

 

State

 

Zip Code

This Restricted Stock Award Notice (“Award Notice”) is intended to set forth the
terms and conditions on which a Restricted Stock Award has been granted under
the 2005 Re-designated, Amended and Restated Stock Incentive Plan for Officers
and Employees for Astoria Financial Corporation (“the Plan”). Set forth below
are the specific terms and conditions applicable to this Restricted Stock Award.
Attached as Exhibit A are its general terms and conditions.

 

 

 

 

 

 

 

 

 

 

 

Restricted Stock Award

 

(A)

 

(B)

 

(C)

 

(D)

 

(E)

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

Grant Date

 

December
20, 2006

 

XXX

 

XXX

 

XXX

 

XXX

 

 

 

 

 

 

 

 

 

 

 

Class of Shares*

 

Common

 

Common

 

Common

 

Common

 

Common

 

 

 

 

 

 

 

 

 

 

 

No. of Awarded Shares*

 

42,800

 

XXX

 

XXX

 

XXX

 

XXX

 

 

 

 

 

 

 

 

 

 

 

Type of Award (Escrow or
Legended Certificate)

 

Legended
Certificate

 

XXX

 

XXX

 

XXX

 

XXX

 

 

 

 

 

 

 

 

 

 

 

Vesting Date*

 

January 9,
2012

 

XXX

 

XXX

 

XXX

 

XXX

*Subject to adjustment as provided in the Plan and the General Terms and
Conditions.

By signing where indicated below, Astoria Financial Corporation (the “Company”)
grants this Restricted Stock Award upon the specified terms and conditions, and
the Restricted Stock Award Recipient acknowledges receipt of this Restricted
Stock Award Notice, including Exhibit A, and agrees to observe and be bound by
the terms and conditions set forth herein

 

 

 

 

 

Astoria Financial Corporation

 

Award Recipient

 

 

 

 

By

      /S/ Alan P. Eggleston

 

/S/ George L. Engelke, Jr.

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

Name:

Alan P. Eggleston

 

Print Name: George L.Engelke, Jr.

 

Title:

Executive Vice President Secretary and

 

 

 

 

General Counsel

 

 

--------------------------------------------------------------------------------

Instructions: This page should be completed by or on behalf of the Executive
Compensation Committee. Any blank space intentionally left blank should be
crossed out. A Restricted Stock Award consists of shares granted with uniform
terms and conditions. Where shares granted under a Restricted Stock Award are
awarded on the same date with varying terms and conditions (for example, varying
vesting dates), the awards should be recorded as a series of grants each with
its own uniform terms and conditions.

--------------------------------------------------------------------------------

EXHIBIT A

ASTORIA FINANCIAL CORPORATION
2005 RE-DESIGNATED, AMENDED AND RESTATED STOCK INCENTIVE PLAN FOR OFFICERS
AND EMPLOYEES
RESTRICTED STOCK AWARD NOTICE

General Terms and Conditions

          Section 1.        General Terms.

                    (a)          Size and Type of Award. The shares of Common
Stock of Astoria Financial Corporation (“Shares”) covered by this Award
(“Awarded Shares”) are listed on the Restricted Stock Award Notice (“Award
Notice”). The Award Notice designates the Awarded Shares as a “Legended
Certificate”.

                    (b)          Legended Certificate. A “Legended Certificate”
is a stock certificate evidencing the Awarded Shares that will be issued in your
name that is either delivered to you or held in escrow by the Committee or its
designee (“Plan Trustee”). The stock certificate will bear a legend indicating
that it is or shall be held in escrow subject to all of the terms and conditions
of this Award Notice and the Astoria Financial Corporation’s 2005 Re-designated,
Amended and Restated Stock Incentive Plan for Officers and Employees (“Plan”).

          Section 2.         Vesting.

                    (a)          Vesting Dates. The Vesting Dates for your
Awarded Shares are specified on the Award Notice. On each Vesting Date, you will
obtain unrestricted ownership of the Awarded Shares that vest on that Vesting
Date. A stock certificate evidencing unrestricted ownership will be transferred
to you. In the event that there is no date specified in this Award Notice, the
Vesting Date shall be the ninth day of January coincident with or following the
third (3rd) anniversary of the Grant Date.

                    (b)          Vesting Conditions. There are conditions you
must satisfy before your Restricted Stock Award will vest. If you receive your
Restricted Stock Award for services as an officer or employee, you must, except
as otherwise provided herein, remain in continuous service from the Effective
Date shown on the Restricted Stock Award Notice through the relevant Vesting
Date.

                    (c)          Forfeitures. If you terminate service with the
Company prior to a Vesting Date for any reason other than death, Disability or
Retirement, you will forfeit any Awarded Shares that are scheduled to vest on
that date. When you forfeit Awarded Shares, all of your interest in the Awarded
Shares will be canceled and any stock certificate or other evidence of ownership
must be returned to the Plan Trustee to be used for future awards to others. You
agree to take any action and execute and deliver any document that the Company
requests to effect the return of your unvested Awarded Shares. In the event you
do not cooperate with the Company in this regard, you hereby appoint and
designate the Company as your attorney-in-fact for the purpose of taking any
action and signing any document, in your name, which the Company determines is
necessary to enforce the forfeiture.

Page 1 of 3

--------------------------------------------------------------------------------

                    (d)          Accelerated Vesting. Your Awarded Shares that
have not previously vested will become fully vested immediately, and without any
further action on your part, in the event of your death or Disability (as
defined in the Plan) before your termination of service with the Company or your
retirement from the Company having reached the mandatory retirement age for
executive officers of 70 years of age. In addition, in the event a Change of
Control (as defined in the Plan) occurs before you terminate service with the
Company, then any Awarded Shares not theretofore forfeited shall become
immediately vested on the date of the Change of Control. You may designate a
Beneficiary to receive any Awarded Shares that vest upon your death using the
Beneficiary Designation attached as Appendix A.

                    (e)          Definition of Service; Retirement. For purposes
of determining the vesting of your Awarded Shares, you will be deemed to be in
the service of the Company for so long as you serve in any capacity as an
employee or officer of the Company or Astoria Financial Corporation and your
termination of Service will be a retirement if it occurs at or after the date
when you attain age 70 having completed 5 years of Service.

       Section 3.           Dividends. Any dividends declared by the Company
with a record date that is after the Grant Date specified in the Award Notice
will be paid in the same manner as for other shareholders.

     Section 4.             Voting Right. You will have the right to direct the
voting rights appurtenant to the Awarded Shares.

     Section 5.              Taxes. Where any person is entitled to receive
Shares pursuant to the Restricted Stock Award granted hereunder, the Company
shall have the right to require such person to pay to the Company the amount of
any tax which the Company is required to withhold with respect to such Shares,
or, in lieu thereof, to retain, or to sell without notice, a sufficient number
of Shares to cover the amount required to be withheld.

     Section 6.             Notices. Any com­munication required or permitted to
be given under the Plan, including any notice, direction, designation, comment,
instruction, objection or waiver, shall be in writing and shall be deemed to
have been given at such time as it is delivered personally or five (5) days
after mailing if mailed, postage prepaid, by registered or certified mail,
return receipt requested, addressed to such party at the address listed below,
or at such other address as one such party may by written notice specify to the
other party:

                    (a)          If the Company:

                                   Astoria Financial Corporation
                                   One Astoria Federal Plaza
                                   Lake Success, New York 11042

                                   Attention: Corporate Secretary

                   (b)           If to the Recipient, to the Recipient’s address
as shown in the Company’s records.

     Section 7.             Restrictions on Transfer. The Restricted Stock Award
granted hereunder shall not be subject in any manner to anticipation, alienation
or assignment, nor shall such option be liable for or subject to debts,
contracts, liabilities, engagements or torts, nor shall it be transferable by

Page 2 of 3

--------------------------------------------------------------------------------

the Recipient other than by will or by the laws of descent and distribution or
as otherwise permitted by the Plan. To name a Beneficiary, complete the attached
Appendix A and file it with the Corporate Secretary of Astoria Financial
Corporation

     Section 8.              Successors and Assigns. This Award Notice shall
inure to the benefit of and shall be binding upon the Company and the Recipient
and their respective heirs, succes­sors and as­signs.

     Section 9.              Construction of Language. Whenever appro­priate in
the Award Notice, words used in the singular may be read in the plural, words
used in the plural may be read in the singu­lar, and words importing the
masculine gender may be read as refer­ring equally to the feminine or the
neuter. Any reference to a section shall be a reference to a section of this
Award Notice, un­less the context clearly indicates otherwise. Capitalized terms
not specifically defined herein shall have the meanings assigned to them under
the Plan.

     Section 10.            Governing Law. This Award Notice shall be
con­strued, administered and enforced according to the laws of the State of New
York without giving effect to the conflict of laws principles thereof, except to
the extent that such laws are preempted by the federal law. The federal and
state courts having jurisdiction in the Counties of Nassau, New York or Suffolk,
New York shall have exclusive jurisdiction over any claim, action, complaint or
lawsuit brought under the terms of the Plan. By accepting any Award granted
under this Award Notice, the Recipient, and any other person claiming any rights
under the Award Notice, agrees to submit himself, and any such legal action as
he shall bring under the Plan, to the sole jurisdiction of such courts for the
adjudication and resolution of any such disputes.

     Section 11.            Amendment. This Award Notice may be amended, in
whole or in part and in any manner not inconsistent with the provisions of the
Plan, at any time and from time to time, by written Award Notice between the
Company and the Recipient.

     Section 12.            Plan Provisions Control. This Award Notice and the
rights and obligations created hereunder shall be subject to all of the terms
and conditions of the Plan. In the event of any conflict between the mandatory
provisions of the Plan and the provisions of this Award Notice, the terms of the
Plan, which are incorporated herein by reference, shall control. In the event of
any conflict between a provision of the Plan which permits the Committee to
deviate from its terms and a provision of this Award Notice, the provision of
this Award shall control. By signing this Award Notice, the Recipient
acknowledges receipt of a copy of the Plan. The Recipient acknowledges that he
or she may not and will not rely on any statement of account or other
communication or document issued in connection with the Plan other than the
Plan, this Award Notice, and any document signed by an authorized representative
of the Company that is designated as an amendment of the Plan or this Award
Notice.

Page 3 of 3

--------------------------------------------------------------------------------

APPENDIX A TO RESTRICTED STOCK AWARD NOTICE
ASTORIA FINANCIAL CORPORATION
2005 RE-DESIGNATED, AMENDED AND RESTATED STOCK INCENTIVE PLAN FOR OFFICERS AND
EMPLOYEES
Beneficiary Designation Form - Restricted Stock

 

 

 

 

 

 

GENERAL
INFORMATION

Use this form to designate the Beneficiary(ies) who may receive Restricted Stock
Awards that become vested at your death.

 

 

Name of Person
Making Designation

--------------------------------------------------------------------------------

 

Social Security Number    ______ _____ _______

 

 

 

 

 

 

 

 

 

 

 

BENEFICIARY
DESIGNATION

Complete sections A and B. If no percentage shares are specified, each
Beneficiary in the same class (primary or contingent) shall have an equal share.
If any designated Beneficiary predeceases you, the shares of each remaining
Beneficiary in the same class (primary or contingent) shall be increased
proportionately.

 

 

 

 

 

A. PRIMARY BENEFICIARY(IES). I hereby designate the following person as my
primary Beneficiary under the Plan, reserving the right to change or revoke this
designation at any time prior to my death:

 

 

 

 

 

 

 

 

 

 

Name

Address

 

Relationship

 

Birthdate

 

Share

 

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

%

--------------------------------------------------------------------------------

 

 

 

 

 

 

 

 

 

--------------------------------------------------------------------------------

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

%

--------------------------------------------------------------------------------

 

 

 

 

 

 

 

 

 

--------------------------------------------------------------------------------

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

 

 

--------------------------------------------------------------------------------

 

 

 

 

 

 

 

 

 

--------------------------------------------------------------------------------

 

 

 

 

 

--------------------------------------------------------------------------------

%

 

 

 

 

 

 

 

      Total = 100%

 

 

 

 

 

 

 

 

 

B. CONTINGENT BENEFICIARY(IES). I hereby designate the following person(s) as my
contingent Beneficiary(ies) under the Plan to receive benefits only if all of my
primary Beneficiaries should predecease me, reserving the right to change or
revoke this designation at any time prior to my death as to all outstanding
Options:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Name

Address

 

Relationship

 

Birthdate

 

Share

 

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

%

--------------------------------------------------------------------------------

 

 

 

 

 

 

 

 

 

--------------------------------------------------------------------------------

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

%

--------------------------------------------------------------------------------

 

 

 

 

 

 

 

 

 

--------------------------------------------------------------------------------

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

 

 

--------------------------------------------------------------------------------

 

 

 

 

 

 

 

 

 

--------------------------------------------------------------------------------

 

 

 

 

 

--------------------------------------------------------------------------------

%

 

 

 

 

 

 

 

      Total = 100%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

S

H

I understand that this Beneficiary Designation shall be effective only if
properly completed and received by the Corporate Secretary of Astoria Financial
Corporation prior to my death, and that it is subject to all of the terms and
conditions of the Plan. I also understand that an effective Beneficiary
designation revokes my prior designation(s) with respect to all outstanding
Restricted Stock Awards

I

E

G

R

N

E

 

 

 

 

 

 

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

 

Your Signature

 

Date

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

---------------------------------------------------- Internal Use Only
--------------------------------------------

 

 

 

 

 

This Beneficiary Designation was received by the Corporate Secretary of Astoria
Financial Corporation on the date indicated.

Comments

 

 

 

 

 

 

 

 

 

 

By

 

 

 

 

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

Authorized Signature

Date  

 

 

 

 

--------------------------------------------------------------------------------