Document:

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                                    AGREEMENT

        AGREEMENT dated as of October 12, 2006, between NEW YORK COMMERCIAL
BANK, a New York State-chartered commercial bank (the "Bank") and SPIROS J.
VOUTSINAS ("Executive").

        WHEREAS, Executive currently serves as a member of the Board of
Directors of the Bank; and

        WHEREAS, Executive has assumed additional responsibilities relating to
the Bank's operations; and

        WHEREAS, the Bank and Executive desire to set forth the terms and
conditions of his continued service with the Bank.

        NOW, THEREFORE, in consideration of the foregoing and the mutual
commitments contained in this Agreement, the parties hereto agree as follows:

        1.       TERM

        The term of this Agreement shall be for the period beginning October 12,
2006 and ending on October 11, 2007. The parties may extend this Agreement by
mutual agreement at any time prior to the expiration of the term.

        2.       POSITION

        During the term of the Agreement, Executive shall serve as President of
the Atlantic Bank division of the Bank, reporting to, and subject to the
direction of, the Chief Executive Officer of the Bank.

        3.       CONFIDENTIAL INFORMATION

        Executive agrees that he shall keep secret and confidential all
business-related information about the Bank, including, without limitation,
information about business contacts, transactions, contracts, intellectual
property, finances, personnel, products and pricing, customers, prospective
customers or corporate affairs of which Executive may have become aware, whether
or not relating to or arising out of Executive's specific duties ("Confidential
Information"). Executive shall not disclose or make known any of such
Confidential Information or anything relating thereto to any person, firm or
corporation except to officers, directors, employees, agents and advisors of the
Bank and such other persons or entities as may be authorized by the Bank or to
the extent required by law.

        4.       NONCOMPETITION; NONSOLICITATION

                 (a)   Executive agrees that, during the term of this Agreement,
         Executive will:

                       (i)   not, directly or indirectly (whether as principal,
                 agent, independent contractor, employee or otherwise), own,
                 manage, operate, join, control or otherwise carry on,
                 participate in the ownership, management, operation or control
                 of, or be engaged in or concerned with, any business
                 competitive with that of the Bank or its affiliates (a
                 "Competing Business"), provided that Executive shall not be
                 prohibited from owning less than 5% of any publicly traded
                 corporation, whether or not such corporation is in competition
                 with that Bank or its affiliates;

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                       (ii)  inform any person which seeks to engage the
                 services of Executive that Executive is bound by this Section
                 4 and the other terms of this Agreement;

                       (iii) not solicit or induce or attempt to solicit or
                 induce, directly or indirectly, any employee of the Bank or
                 its affiliates, whether or not such person would commit a
                 breach of any employment agreement by reason of leaving
                 service, to terminate such employee's employment relationship
                 with the Bank or its affiliates in order to enter into any
                 such relationship with him or any person in competition with
                 the business of the Bank or its affiliates; and

                       (iv)  not, (x) solicit by mail, by telephone, by
                 personal meeting, or by any other means, either directly or
                 indirectly, any customer or any individual or entity
                 specifically identified as a prospective customer of the Bank
                 or its affiliates to transact any Competing Business or to
                 reduce or refrain from doing any business with the Bank or its
                 affiliates, or (y) interfere with or damage (or attempt to
                 interfere with or damage) any relationship between the Bank or
                 its affiliates and any such customer or prospective customer.

                 (b) Executive understands and agrees that this Section 4 will
         limit both Executive's ability to earn a livelihood in a Competitive
         Business and Executive's relationship with his customers. Executive
         represents and warrants, however, that this Section 4 will not result
         in severe economic hardship for him or his family. Executive
         understands and agrees that money damages may not be a sufficient
         remedy for any breach or attempted or threatened breach of this Section
         4 by Executive and that the Bank shall be entitled to equitable relief,
         including specific performance and injunctive relief as remedies for
         any such breach or threatened or attempted breach (without the posting
         of any bond). Executive hereby consents to the granting of an
         injunction (temporary or otherwise) against Executive or to the
         entering of any other court order against Executive prohibiting and
         enjoining Executive from violating, or directing Executive to comply
         with, any provision of this Section 4. Executive also agrees and
         understands that such remedies shall be in addition to any and all
         remedies, including damages, available to the Bank against Executive
         for such breaches or threatened or attempted breaches.

                 (c) In addition to the Bank's rights set forth in paragraph
         (b) of this Section 4, in the event that Executive shall violate the
         terms and conditions of Sections 3 or 4 of this Agreement, the Bank may
         terminate any payments payable by the Bank to Executive pursuant to
         this Agreement.

         5.      COMPENSATION; BENEFITS

         As compensation for the services provided by Executive to the Bank, the
Bank shall pay Executive an annual base salary of $220,000, less applicable
federal, state and local tax withholding, payable in accordance with the Bank's
customary payroll practices. In addition, Executive shall participate in such
employee benefit plans of the Bank as are generally made available to employees
of the Bank and on the same terms as such employees.

         Upon approval by the Compensation Committee ("Committee") of the Board
of Directors of New York Community Bancorp, Inc. ("Bancorp"), Executive shall
receive a restricted stock award covering 18,000 shares of Bancorp common stock,
vesting in installments of 1,500 shares on the first business day of each
calendar quarter until fully vested. Such award shall be subject in all respects
to the terms and conditions of Bancorp's 2006 Stock Incentive Plan and shall be
reflected in a separate award agreement to be provided to Executive as soon as
administratively practicable following the date of Committee action. Such award
agreement shall further provide that, in the event the term of this Agreement is
not extended

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and, thereafter, Executive (i) voluntarily terminates employment (which
termination shall be treated as a "Retirement" for purposes of the plan) or (ii)
is terminated by the Bank without Cause, all unvested shares covered by the
award agreement shall fully vest as of Executive's termination date.

         Executive shall be entitled to reimbursement for all reasonable
out-of-pocket expenses necessarily incurred in the performance of services under
this Agreement upon submission and approval of written statements and bills in
accordance with the expense reimbursement policies of the Bank as in effect from
time to time.

         6.      TERMINATION

         The Bank may terminate this Agreement for "Cause" (as defined below) at
any time. In the event of any such termination, the only obligation of the Bank
under this Agreement will be to pay Executive any accrued but unpaid salary and
expenses due to Executive through the date of termination. The Bank may
terminate the Agreement without Cause upon providing thirty (30) days' prior
written notice to Executive, in which case the only obligation of the Bank under
this Agreement will be to pay Executive his base salary through the remaining
term of the Agreement (as if the early termination had not occurred), as well as
any accrued but unpaid expenses.

         Executive may terminate this Agreement early for any reason upon thirty
(30) days' prior written notice to the Bank. Upon such termination, the only
obligation of the Bank under this Agreement will be to pay Executive any accrued
but unpaid salary through the date of termination. The Agreement shall terminate
upon Executive's death, in which case the only obligation of the Bank under this
Agreement shall be the payment of any accrued but unpaid salary and expenses
owed through the date of Executive's death.

         As used in this Agreement, "Cause" shall mean (i) a willful failure of
Executive to perform his duties under this Agreement after notice and a
reasonable opportunity to cure, (ii) acts or omissions by Executive causing
material injury to the property or business of the Bank, or (iii) the conviction
of Executive, or the entry of a plea of guilty or nolo contendere by Executive
to any felony.

         Any amount payable under the applicable paragraph of this Section 6
shall be payable to Executive (or his estate, as the case may be) in a lump sum
within ten (10) days of termination.

         7.      ENTIRE AGREEMENT; MODIFICATION

         This Agreement contains the entire agreement between Executive and the
Bank. Executive acknowledges further that he has entered into this Agreement
without reliance on any promise or representation, other than those expressly
contained herein and that the Agreement cannot be amended except in writing
signed by both parties.

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         8.      NOTICES

         For purposes of this Agreement, all notices and other communications
required or permitted hereunder shall be in writing and shall be deemed to have
been duly given when delivered or five (5) days after deposit in the United
States mail, certified and return receipt requested, postage prepaid, to the
parties at such address as either party may have furnished to the other in
writing in accordance, except that notices of change of address shall be
effective only upon receipt.

         9.      INTERPRETATION; SEVERABILITY

         This Agreement is intended to satisfy the requirements of Section 409A
of the Internal Revenue Code of 1986, as amended, in all respects. To the extent
any provision of this Agreement would not comply with such provision, it is
hereby superseded and modified as necessary to comply (such modification to be
determined in the good faith discretion of the Bank after consultation with the
Executive).

         If, for any reason, any provision of this Agreement, or any part of any
provision, is held invalid, such invalidity shall not affect any other provision
of this Agreement or any part of such provision not held so invalid, and each
such other provision and part thereof shall to the full extent consistent with
law continue in full force and effect.

         10.     MISCELLANEOUS

         If any party should waive any breach of any provision of this
Agreement, such party shall not thereby be deemed to have waived any preceding
or succeeding breach of the same or any other provision of this Agreement. This
Agreement and any rights or obligations hereunder may be assigned by the Bancorp
and the Bank to any successor in interest to the business of the Bancorp or the
Bank. This Agreement may not be assigned by Executive. The headings of the
sections of this Agreement are inserted for convenience only and shall not be
deemed to constitute a part of this Agreement nor to affect the meaning thereof.

         All payments received by Executive under this Agreement will be treated
as compensation for services (and any taxes that are required to be withheld
under any law, rule or regulation may be so withheld).

         11.     GOVERNING LAW

         THIS AGREEMENT SHALL BE GOVERNED BY, AND INTERPRETED IN ACCORDANCE
WITH, THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS MADE AND TO BE
PERFORMED ENTIRELY WITHIN SUCH STATE.

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         12.     REQUIRED PROVISIONS.

         Any payments made pursuant to this Agreement are subject to and
conditioned upon compliance with 12 U.S.C. ss.1828(k) and any rules and
regulations promulgated thereunder, including 12 C.F.R. Part 359.

         IN WITNESS WHEREOF, New York Commercial Bank has caused this Agreement
to be executed and its seal to be affixed hereunto by its duly authorized
officer, and Executive has signed this Agreement, in each case on the date set
forth on the first page hereof.

ATTEST:                                     NEW YORK COMMERCIAL BANK

/s/ Robert Wann                             By: /s/ Joseph R. Ficalora
--------------------------                      --------------------------------
Robert Wann                                     Joseph R. Ficalora

/s/ Darlene Solomon                             /s/ Spiros J. Voutsinas
--------------------------                      --------------------------------
Witness                                         Spiros J. Voutsinas

                                       5Exhibit 10.18(a)

                     FIRST AMENDMENT TO MANAGEMENT AGREEMENT

     THIS FIRST AMENDMENT (this "Amendment") to the Management Agreement dated
as of January 1, 2004 (the "Management Agreement"), by and among Morgan Stanley
Spectrum Technical L.P., a Delaware limited partnership (the "Partnership"),
Demeter Management Corporation, a Delaware corporation (the "General Partner")
and Winton Capital Management Limited, a United Kingdom company (the "Trading
Advisor"), is made and entered into by the undersigned parties on October 10,
2006 (the "Effective Date").

     WHEREAS, all provisions contained in the Management Agreement remain in
full force and effect and are modified only to the extent necessary to provide
for the amendments set forth below;

     WHEREAS, terms used and not otherwise defined herein have the meaning
ascribed to such term in the Management Agreement;

     WHEREAS, the undersigned parties desire to amend certain confidentiality
provisions of the Management Agreement; and

     WHEREAS, pursuant to Section 15 of the Management Agreement, the
undersigned parties may amend the Management Agreement by written consent;

     NOW, THEREFORE, in consideration of the mutual covenants contained herein
and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the undersigned parties hereto agree as follows:

1.   Confidentiality. Section 11(b)(iv) of the Management Agreement is hereby
deleted and replaced with the following:

     "(A) The Partnership and the General Partner will keep confidential and not
disseminate any Confidential Information (as defined in Section 11(b)(iv)(B) of
this Agreement) to any of the limited partners of the Partnership, or the
customers, employees, agents, shareholders, officers, directors or affiliates of
the General Partner or Morgan Stanley DW or any other person or entity, except
such details as may be, in the reasonable judgment of the General Partner,
necessary or appropriate for the conduct of the business of the Partnership or
as required by law. The General Partner agrees to use any Confidential
Information provided by the Trading Advisor only to the extent necessary to
conduct the business of the Partnership or as required by law. At the written
request of the Trading Advisor, the General Partner further agrees to return to
the Trading Advisor any Confidential Information provided to the General
Partner, except for copies of materials retained for record-keeping purposes as
required by law or by this Agreement. The General Partner further agrees to
maintain internal procedures and safeguards designed to reasonably comply with
the confidentiality obligations of the Partnership and the General Partner as
set forth in this Agreement.

     (B) "Confidential Information" shall mean any written or oral information:
(1) as described in Section 2(b)(ii) of this Agreement; (2) as described in
Section 2(b)(iii) of this Agreement; (3) regarding the trading systems,
strategies, methods and programs of the Trading Advisor; and (4) regarding
specific trades made by the Trading Advisor for the account of the Partnership;
provided that Confidential Information shall not include any written or oral
information: (aa) that was already in the possession of any of the parties as of
January 1, 2004 other than by reason of discussions with or disclosures by the
parties negotiating this Agreement; (bb) that is obtained from a third party
who, insofar as is known to the receiving party, is not prohibited from
disclosing or transmitting the information by a contractual, legal or fiduciary
obligation; (cc) that is or becomes publicly available through no fault of the
receiving person; and (dd) that is independently developed by the recipient
without use of the Confidential Information.

     (C) Without prejudice to the generality of the foregoing, the Partnership
and the General Partner specifically agree not to use any Confidential
Information: (a) so as to procure any commercial advantage over the Trading
Advisor; or (b) in any other manner detrimental to the Trading Advisor."

2.   Effective Date. This Amendment shall take effect as of the Effective Date.

3.   Counterparts and Facsimile Execution. This Amendment may be executed in one
or more counterparts, each of which shall be deemed an original, but all of
which together shall constitute the same agreement. Facsimile counterpart
signature pages to this Amendment shall be acceptable and binding.

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     IN WITNESS WHEREOF, each of the parties hereto has caused a counterpart of
this Amendment to the Management Agreement to be duly executed and delivered as
of the Effective Date.

Morgan Stanley Spectrum Technical L.P.
By: Demeter Management Corporation, its general partner

By:   /s/ Walter Davis
    ----------------------------------
Name:     Walter Davis
Title:    President

Demeter Management Corporation

By:   /s/ Walter Davis
    ----------------------------------
Name:     Walter Davis
Title:    President

Winton Capital Management Limited

By:   /s/ Martin Hunt
    ----------------------------------
Name:     Martin Hunt
Title:    Director

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