Exhibit 10-12

Astoria Financial Corporation
Death Benefit Plan For Outside Directors

(Effective January 1, 2009)

AMENDMENT NO. 1

1.
Article I C Effective January 1, 2009, Section 1.4 shall be amended to read in
its entirety as follows:

Section 1.4 Director means any member of the Board of Directors of any
Participating Company  who is neither (i) an employee of any Participating
Company nor (ii) an “Eligible Director” as defined in the Astoria Federal Saving
and Loan Association and Astoria Financial Corporation Directors’ Retirement
Plan.

In Witness Whereof, this Amendment has been signed by an officer of Astoria
Federal Savings and Loan Association thereunto duly authorized.    

   
Astoria Financial Corporation
       
By
  /S/ Alan P. Eggleston
   
Name:
Alan P. Eggleston
   
Title:
Executive Vice President, Secretary
and General Counsel
       
Date:
December 31, 2008

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