Document:

EXHIBIT 10.12

 Exhibit 10.12 
  
 FORM OF 
  
 CHANGE IN CONTROL AGREEMENT 
  
 This AGREEMENT is made effective as of
                         , 2005 by and between UNITED BANK, a federally chartered stock savings bank (the
“Bank”), and                      (“Executive”). Any reference to “Company” herein shall mean UNITED FINANCIAL
BANCORP, INC., or any successor thereto. 
  
 WHEREAS, the Bank
recognizes the substantial contribution Executive has made to the Bank and wishes to provide Executive with certain protections and benefits in the event of a Change in Control of the Bank or the Company, as provided in this Agreement; and

  
 WHEREAS, Executive has been elected to, and has agreed to
serve in the position of                      for the Bank, a position of substantial responsibility; 
  
 NOW, THEREFORE, in consideration of the contribution of Executive, and upon
the other terms and conditions hereinafter provided, the parties hereto agree as follows: 
  

	1.	TERM OF AGREEMENT 

  
 The “term” of this Agreement shall be thirty-six (36) full calendar months from the effective date of this Agreement set forth above, and shall
include any extension or renewal made pursuant to Section 1 of this Agreement. At least sixty (60) days prior to each anniversary date of this Agreement, the Board will conduct a performance evaluation and review of Executive for purposes of
determining whether to renew or extend this Agreement, and the results thereof shall be included in the minutes of the Board’s meeting. In the event that the Board determines to renew or extend the Agreement, this Agreement shall renew or
extend for an additional twelve (12) months from the anniversary date, such that the remaining term of this Agreement shall be thirty-six (36) months from the anniversary date. In the event the Board determines not to renew or extend this Agreement,
the Board shall provide a notice of non-renewal to the Executive at least thirty (30) days prior to the anniversary date of this Agreement. In the event the Board does not renew or extend the Agreement, the remaining term of this Agreement shall be
twenty-four (24) months. If Executive is also a director then he shall abstain from any and all voting with respect to the renewal or extension of the term of this Agreement. 
  

	2.	PAYMENTS TO EXECUTIVE UPON CHANGE IN CONTROL AND TERMINATION 

  
 This Agreement provides for certain payments and benefits to Executive only in the event of a Change in Control followed by a termination of
Executive’s services as described in this Agreement. 
  
 (a)
Upon the occurrence of a “Change in Control” of the Bank or the Company followed at any time during the term of this Agreement by the Involuntary Termination of Executive’s employment, other than Termination for Cause, death or
Disability of Executive, the 

  

 
Bank shall be obligated to pay or provide Executive or in the following event of his subsequent death, his beneficiary or beneficiaries, or his estate, as
the case may be: 
  

	 	(i)	Within thirty (30) days of Executive’s Involuntary Termination, (or if Section 409A of the Internal Revenue Code (“Code”) applies, on the first day of the seventh
month following Executive’s Involuntary Termination), as severance pay, a sum equal to two times the sum of (a) the highest rate of base salary, and (b) highest rate of bonus awarded to Executive during the prior three years. If Executive has
been employed by the Bank for less than one year, then the severance pay shall be a sum equal to twenty-four (24) times the highest monthly salary, and two times the highest rate of bonus awarded to Executive. 

  

	 	(ii)	life, medical and dental coverage (at the expense of the Bank) substantially identical to the coverage maintained by the Bank for Executive prior to his termination. Such coverage
and payments shall cease upon expiration of twenty-four (24) months. 

  

	 	(iii)	Within thirty (30) days following Executive’s Involuntary Termination (or if Code Section 409A applies, on the first day of the seventh month following Executive’s
Involuntary Termination), a lump sum payment in an amount equal to the present value of the Bank’s contributions that would have been made on his behalf under each of the Bank’s 401(k) Plan and employee stock ownership plan (and any other
defined contribution plan maintained by the Bank in which Executive participates) if he had continued working for the Bank for a twenty-four (24) month period following his termination earning the Base Salary that would have been achieved during the
remaining unexpired term of this Agreement and making the maximum amount of employee contributions permitted, if any, under such plan or plans, where such present values are to be determined using a discount rate of 6%. 

  
 (b) Upon the occurrence of a Change in Control, Executive will have such
rights as specified in any other employee benefit plan with respect to options, stock awards or other stock incentives and such other rights as may have been granted to Executive under such plans. 
  
 (c) Any payments to Executive under this Section 2 (other than payments under
Section 2(a)(ii)) should be made in a lump sum and reduced by applicable withholding taxes. 
  
 (d) Notwithstanding the preceding paragraphs of this Section 2, in no event shall the aggregate payments or benefits to be made or afforded to Executive under said paragraphs (the “Termination Benefits”)
constitute an “excess parachute payment” under Section 280G of the Code or any successor thereto, and in order to avoid such a result, Termination Benefits will be reduced, if necessary, to an amount (the “Non-Triggering
Amount”), the value of which is one dollar ($1.00) less than an amount equal to three (3) times Executive’s “base amount”, as determined in accordance with said Section 280G. In addition, in no event shall the aggregate 

  

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Termination Benefits to be made or approved to Executive ever exceed three (3) times “average annual compensation” as such Term is defined in OTS
Regulatory Handbook Section 310 (Oversight by the Board of Directors). 
  
 (e) Executive shall not have the right to receive termination benefits pursuant to Section 2 hereof in the event of Executive’s Termination for Cause or termination of employment due to Executive’s death or Disability. 

 

	3.	DEFINED TERMS 

  
 The following capitalized terms used in this Agreement are defined as set forth below: 
  
 (a) Change in Control. A “Change in Control” of the Bank or the Company shall mean a change in control of a
nature that: (i) would be required to be reported in response to Item 5.01 of the current report on Form 8-K, as in effect on the date hereof, pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 (the “Exchange Act”); or
(ii) results in a Change in Control of the Bank or the Company within the meaning of the Home Owners’ Loan Act, as amended, and applicable rules and regulations promulgated thereunder (collectively, the “HOLA”) as in effect at the
time of the Change in Control; or (iii) without limitation such a Change in Control shall be deemed to have occurred at such time as (a) any “person” (as the term is used in Sections 13(d) and 14(d) of the Exchange Act) is or becomes the
“beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing 25% or more of the combined voting power of Company’s outstanding securities, except for any
securities purchased by the Bank’s employee stock ownership plan or trust; or (b) individuals who constitute the Board on the date hereof (the “Incumbent Board”) cease for any reason to constitute at least a majority thereof,
provided that any person becoming a director subsequent to the date hereof whose election was approved by a vote of at least three-quarters of the directors comprising the Incumbent Board, or whose nomination for election by the
Company’s stockholders was approved by the same Nominating Committee serving under an Incumbent Board, shall be, for purposes of this clause (b), considered as though he were a member of the Incumbent Board; or (c) a plan of reorganization,
merger, consolidation, sale of all or substantially all the assets of the Bank or the Company or similar transaction in which the Bank or Company is not the surviving institution occurs or is effected; or (d) a proxy statement soliciting proxies
from stockholders of the Company is distributed, by someone other than the current management of the Company, seeking stockholder approval of a plan of reorganization, merger or consolidation of the Company or similar transaction with one or more
business organizations as a result of which the outstanding shares of the class of securities then subject to the plan are to be exchanged for or converted into cash or property or securities not issued by the Company; or (e) a tender offer is made
for 25% or more of the voting securities of the Company and the shareholders owning beneficially or of record 25% or more of the outstanding securities of the Company have tendered or offered to sell their shares pursuant to such tender offer and
such tendered shares have been accepted by the tender offeror. 
  
 (b) Involuntary Termination. “Involuntary Termination” of Executive shall mean either (i) Executive’s termination by the Bank, the Company or any successor(s) thereto during the term of this Agreement and following a
Change in Control for any reason other than a Termination for Cause, Disability or death, or (ii) Executive’s resignation from employment 

  

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following a Change in Control as a result of the Company’s (or any successor to the Company) failure to renew or extend this Agreement for an additional
twelve (12) months on the first anniversary date of this Agreement following a Change in Control, or (iii) Executive’s resignation of employment during the term of this Agreement and following a Change in Control as a result of: any demotion,
loss of title, office, significant change in Executive’s functions, duties or responsibilities which change would cause Executive’s position to become one of lesser importance, responsibility or scope from the position held immediately
prior to the Change in Control, reduction in Executive’s annual compensation or benefits, relocation of Executive’s principal place of employment by more than 25 miles from its location immediately prior to the Change in Control, or
material breach of this Agreement by the Bank, the Company or its successor(s) following a Change in Control. 
  
 (c) Termination for Cause. “Termination for Cause” shall mean termination because of Executive’s intentional failure to perform
stated duties, personal dishonesty, incompetence, willful misconduct, any breach of fiduciary duty involving personal profit, willful violation of any law, rule, regulation (other than traffic violations or similar offenses) or final cease and
desist order, or any material breach of any material provision of this Agreement. In determining incompetence, the acts or omissions shall be measured against standards generally prevailing in the savings institution industry. For purposes of this
paragraph, no act or failure to act on the part of the Executive shall be considered “willful” unless done, or omitted to be done, by Executive not in good faith and without reasonable believe that Executives action or omission was in the
best interest of the Bank. Notwithstanding the foregoing, Executive shall not be deemed to have been terminated for Cause unless and until there shall have been delivered to him a copy of a resolution duly adopted by the affirmative vote of not less
than a majority of the members of the Board at a meeting of the Board called and held for that purpose (after reasonable notice to Executive and an opportunity for him, together with counsel, to be heard before the Board), finding that in the good
faith opinion of the Board, Executive was guilty of conduct justifying Termination for Cause and specifying the particulars thereof in detail. Executive shall not have the right to receive compensation or other benefits for any period after
Termination for Cause. Any stock options granted to Executive under any stock option plan of the Bank, the Company or any subsidiary or affiliate thereof, shall become null and void effective upon Executive’s receipt of Notice of Termination
for Cause pursuant to Section 4 hereof, and shall not be exercisable by Executive at any time subsequent to such Termination for Cause. Any stock options granted to Executive under any stock option plan of the Bank, the Company or any subsidiary or
affiliate thereof, shall become null and void effective upon Executive’s receipt of Notice of Termination for Cause, and shall not be exercisable by Executive at any time subsequent to such Termination for Cause. 
  
 (d) Disability. “Disability” shall mean Executive’s
inability to perform duties normally associated with his position on a full-time basis for a period a six consecutive months by reason of illness or other physical or mental disability. The Bank or the Company may require a physician’s written
confirmation that Executive cannot perform his duties because of Executive’s Disability. 
  

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	4.	NOTICE OF TERMINATION 

  
 (a) Following a Change in Control, any termination by the Bank or by Executive shall be communicated by Notice of Termination to the other party hereto.
For purposes of this Agreement, a “Notice of Termination” shall mean a written notice which shall indicate the specific termination provision in this Agreement relied upon and shall set forth in reasonable detail the facts and
circumstances claimed to provide a basis for termination of Executive’s employment under the provision so indicated. Any termination by Executive as a result of an Involuntary Termination under Section 3(b)(i) or (ii) hereof shall be
communicated by Notice of Termination to the Company within 120 days of the event giving rise to the Involuntary Termination. 
  
 (b) “Date of Termination” shall mean (A) if Executive’s employment is terminated for Disability, thirty (30) days after a Notice of
Termination is given (provided that Executive shall not have returned to the performance of Executive’s duties on a full-time basis during such thirty (30) day period), and (B) if Executive’s employment is terminated for any other reason,
the date specified in the Notice of Termination (which, in the case of a Termination for Cause, shall be immediate). In no event shall the Date of Termination exceed 30 days from the date Notice of Termination is given. 
  

	5.	SOURCE OF PAYMENTS 

  
 It is intended by the parties hereto that all payments provided in this Agreement shall be paid in cash or check from the general funds of the Bank. The
Company, however, guarantees payment and provision of all amounts and benefits due hereunder to Executive and, if such amounts and benefits due from the Bank are not timely paid or provided by the Bank, such amounts and benefits shall be paid or
provided by the Company. 
  

	6.	EFFECT ON PRIOR AGREEMENTS AND EXISTING BENEFIT PLANS 

  
 This Agreement contains the entire understanding between the parties hereto and supersedes any prior agreement between the Bank and Executive, except that
this Agreement shall not affect or operate to reduce any benefit or compensation inuring to Executive of a kind elsewhere provided. No provision of this Agreement shall be interpreted to mean that Executive is subject to receiving fewer benefits
than those available to him without reference to this Agreement. 
  

	7.	NO ATTACHMENT 

  
 (a) Except as required by law, no right to receive payments under this Agreement shall be subject to anticipation, commutation, alienation, sale,
assignment, encumbrance, charge, pledge, or hypothecation, or to execution, attachment, levy, or similar process or assignment by operation of law, and any attempt, voluntary or involuntary, to affect any such action shall be null, void, and of no
effect. 
  
 (b) This Agreement shall be binding upon, and inure to
the benefit of, Executive, the Bank and their respective successors and assigns. 
  

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	8.	MODIFICATION AND WAIVER 

  
 (a) This Agreement may not be modified or amended except by an instrument in writing signed by the parties hereto. 
  
 (b) No term or condition of this Agreement shall be deemed to have been
waived, nor shall there be any estoppel against the enforcement of any provision of this Agreement, except by written instrument of the party charged with such waiver or estoppel. No such written waiver shall be deemed a continuing waiver unless
specifically stated therein, and each such waiver shall operate only as to the specific term or condition waived and shall not constitute a waiver of such term or condition for the future or as to any act other than that specifically waived.

  

	9.	REQUIRED PROVISIONS 

  
 (a) The Bank may terminate Executive’s employment at any time. Executive shall not have the right to receive compensation or other benefits for any
period after Termination for Cause as defined herein. 
  
 (b) If
Executive is suspended from office and/or temporarily prohibited from participating in the conduct of the Bank’s affairs by a notice served under Section 8(e)(3) (12 USC §1818(e)(3)) or 8(g)(1) (12 USC §1818(g)(1)) of the Federal
Deposit Insurance Act (“FDIA”), as amended by the Financial Institutions Reform, Recovery and Enforcement Act of 1989, the Bank’s obligations under this Agreement shall be suspended as of the date of service, unless stayed by
appropriate proceedings. If the charges in the notice are dismissed, the Bank may in its discretion (i) pay Executive all or part of the compensation withheld while its contract obligations were suspended and (ii) reinstate (in whole or in part) any
of its obligations which were suspended. 
  
 (c) If Executive is
removed and/or permanently prohibited from participating in the conduct of the Bank’s affairs by an order issued under Section 8(e)(4) (12 USC §1818(e)(4)) or 8(g)(1) (12 USC §1818(g)(1)) of FDIA, all obligations of the Bank under
this Agreement shall terminate as of the effective date of the order, but vested rights of the contracting parties shall not be affected. 
  
 (d) If the Bank is in default as defined in Section 3(x)(1) (12 USC §1813(x)(1)) of FDIA, all obligations under this Agreement shall terminate as of
the date of default, but this paragraph shall not affect any vested rights of the contracting parties. 
  
 (e) All obligations under this Agreement shall be terminated, except to the extent determined that continuation of this Agreement is necessary for the
continued operation of the Bank, (i) by the Director of OTS or his or her designee, at the time the FDIC enters into an agreement to provide assistance to or on behalf of the Bank under the authority contained in Section 13(c) (12 USC §1823(c))
of FDIA; or (ii) by the Director of OTS or his or her designee at the time the Director of OTS or his or her designee approves a supervisory merger to resolve problems related to operations of the Bank or when the Bank is determined by the Director
of OTS or his or her designee to be in an unsafe or unsound condition. Any rights of the parties that have already vested, however, shall not be affected by such action. 
  

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 (f) Notwithstanding anything herein contained to the contrary, any payments to Executive by the Bank,
whether pursuant to this Agreement or otherwise, are subject to and conditioned upon their compliance with Section 18(k) of FDIA, 12 U.S.C. Section 1828(k), and the regulations promulgated thereunder in 12 C.F.R. Part 359. 
  

	10.	SEVERABILITY 

  
 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. 
  

	11.	HEADINGS FOR REFERENCE ONLY 

  
 The headings of sections and paragraphs herein are included solely for convenience of reference and shall not control the meaning or interpretation of any
of the provisions of this Agreement. 
  

	12.	GOVERNING LAW 

  
 The validity, interpretation, performance, and enforcement of this Agreement shall be governed by the laws of the Commonwealth of Massachusetts, unless
superseded or preempted by Federal law as now or hereafter in effect. 
  
 Any dispute or controversy arising under or in connection with this Agreement shall be settled exclusively by arbitration, conducted before a panel of three arbitrators sitting in a location selected by the employee within fifty (50) miles
from the location of the Bank, in accordance with the rules of the Judicial Mediation and Arbitration Systems (JAMS) then in effect. Judgment may be entered on the arbitrator’s award in any court having jurisdiction; provided, however, that
subject to Section 3(c) hereof, Executive shall be entitled to seek specific performance of his right to be paid until the Date of Termination during the pendency of any dispute or controversy arising under or in connection with this Agreement.

  

	13.	PAYMENT OF LEGAL FEES 

  
 All reasonable legal fees paid or incurred by Executive pursuant to any dispute or question of interpretation relating to this Agreement shall be paid or
reimbursed by the Bank if Executive is successful on the merits pursuant to a legal judgment, arbitration or settlement. 
  

	14.	SUCCESSOR TO THE BANK 

  
 The Bank shall require any successor or assignee, whether direct or indirect, by purchase, merger, consolidation or otherwise, to all or substantially all
the business or assets of the Bank, expressly and unconditionally to assume and agree to perform the Bank’s obligations under this Agreement, in the same manner and to the same extent that the Bank would be required to perform if no such
succession or assignment had taken place. 
  
 [Remainder of Page
Intentionally Blank] 
  

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	15.	SIGNATURES 

  
 IN WITNESS WHEREOF, the Bank and the Company have caused this Agreement to be executed by their duly authorized officers, and Executive has signed this
Agreement, on the day and date first above written. 
  

									
	ATTEST:	 	 	 	UNITED BANK
					
	 	 	 	 	 	 	By:	 	 
	 	 	 	 	 	 	 	 	 President

			
	ATTEST:	 	 	 	UNITED FINANCIAL BANCORP, INC.
					
	 	 	 	 	 	 	By:	 	 
	 	 	 	 	 	 	 	 	 President

			
	WITNESS:	 	 	 	EXECUTIVE
					
	 	 	 	 	 	 	By:	 	 

  

 8General Release, dated as of December 1, 2004

 EXHIBIT 10.9 
  
 GENERAL RELEASE 
  
 GENERAL RELEASE (the “Release”), by Joseph L. Mancino (the “Executive”) in favor of New York Community Bancorp, Inc. (the
“Holding Company”), New York Community Bank (the “Bank”) their affiliates and their respective predecessors and successors (collectively, the “Group”), dated as of December 1, 2004. 
  
 WHEREAS, Executive has been employed as Co-Chairman of the Board of Directors
of the Holding Company and the Bank and Chief Executive Officer of the Roslyn Savings Division of the Bank; 
  
 WHEREAS, Executive is entering into a Consulting Agreement with the Holding Company and the Bank of even date herewith, the effectiveness of which is
conditioned on the effectiveness of this Release (the “Consulting Agreement”); 
  
 WHEREAS, Executive has entered into a Noncompetition Agreement with the Holding Company (both for itself and as successor to Roslyn Bancorp) and the Bank (as successor to The Roslyn Savings Bank) dated as of June 27,
2003 (the “Noncompetition Agreement”), which is amended by the Consulting Agreement; 
  
 WHEREAS, pursuant to a letter dated October 1, 2004, Executive has expressed his intent to retire and an Event of Termination (as defined under Executive’s employment agreement with the Holding Company and the
Bank, dated as of June 27, 2003) has occurred and Executive’s employment with the Holding Company and the Bank shall end as of the date hereof (the “Date of Termination”); and 
  
 WHEREAS, it is agreed that, in connection with the Event of Termination, the
Executive is entitled to the payments and benefits set forth on the attached Annex A. 
  
 NOW, THEREFORE, in consideration of the covenants and agreements hereinafter set forth, the parties agree as follows: 
  
 1.  General Release. Executive knowingly and voluntarily waives, terminates, cancels, releases and discharges forever the Group and its
officers, directors, employees, shareholders, attorneys and agents and their predecessors, successors and assigns, individually and in their official capacities (collectively, the “Released Parties”) from any and all actions, causes of
action, claims, allegations, rights, obligations, liabilities, or charges (collectively, “Claims”) that he has or may have, whether known or unknown, by reason of any matter, cause or thing occurring at any time before and including the
date of this Release, including, without limitation, claims for compensation or bonuses (including, without limitation, any claim for an award under any compensation plan or arrangement); breach of contract; tort; wrongful, abusive, unfair,
constructive, or unlawful discharge or dismissal; impairment of economic opportunity defamation; age and national origin discrimination; sexual harassment; back pay; front pay; benefits; attorneys’ fees; whistleblower claims; emotional
distress; intentional infliction of emotional distress; assault; battery, pain and suffering; punitive or exemplary damages; violations of the Equal Pay Act, Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1991, the Age
Discrimination in Employment Act of 1967 (“ADEA”), the Americans with Disabilities Act of 1991, the Employee Retirement Income Security Act, the Worker Adjustment Retraining and Notification Act, the Family Medical Leave Act, the New York
State Human Rights Law, including all amendments to any of the aforementioned acts; and violations of any other federal, state, or municipal fair employment statutes or laws, including, without limitation, violations of any other law, rule,
regulation, or ordinance pertaining to employment, wages, compensation, hours worked, or any other matters related in any way to Executive’s employment with the Group or the termination of that employment. In addition, in consideration of the
provisions of this Release, the Executive further agrees to waive any and all rights under the laws of any jurisdiction in the United States, or any other country, that limit a general release to those claims that are known or suspected to exist in
Executive’s favor as of the Effective Date (as defined below). 
  
 2.  Surviving Claims. Notwithstanding anything herein to the contrary, this Release shall not: 
  

	 	(i)	release any Claims relating to the payments and benefits set forth on the attached Annex A; 

  

	 	(ii)	release any Claims relating to the Consulting Agreement; 

	 	(iii)	release any Claims arising after the date of this Release under the Noncompetition Agreement, as amended; 

  

	 	(iv)	limit or prohibit in any way Executive’s (or his beneficiaries’ or legal representatives’) ability to bring an action to enforce the terms of this Release;

  

	 	(v)	release any claim for employee benefits under plans covered by the Employee Retirement Income Security Act of 1974, as amended, to the extent that such claims may not lawfully be
waived or for any payments or benefits under any Group plans that have vested according to the terms of those plans; 

  

	 	(vi)	release any claims for indemnification in accordance with applicable laws and the corporate governance documents of the Group or any other member of the Group, including any right
to contribution, in accordance with their terms as in effect from time to time or pursuant to any applicable directors and officers insurance policy with respect to any liability incurred by Executive as an officer or director of the Group or any
member of the Group or any right Executive may have to obtain contribution as permitted by law in the event of entry of judgment; or 

  

	 	(vii)	release any obligations from any individual who is a Released Party arising from any personal business relationship with Executive outside of the employment relationship, including,
without limitation, any mortgages or loans. 

  
 3.  Additional Representations. Executive further represents and warrants that he has not filed any civil action, suit, arbitration, administrative charge, or legal proceeding against any Released Party nor has he assigned,
pledged, or hypothecated as of the Effective Date his claim to any person and no other person has an interest in the claims that he is releasing 
  
 4.  Acknowledgements by Executive. Executive acknowledges and agrees that he has read this Release in its entirety and that this Release
is a general release of all known and unknown claims, including, without limitation, to rights and claims arising under ADEA. Executive further acknowledges and agrees that: 
  

	 	(i)	this Release does not release, waive or discharge any rights or claims that may arise for actions or omissions after the date of this Release; 

  

	 	(ii)	Executive is entering into this Release and releasing, waiving and discharging rights or claims only in exchange for consideration which he is not already entitled to receive;

  

	 	(iii)	Executive has been advised, and is being advised by the Release, to consult with an attorney before executing this Release; Executive acknowledges that he has consulted with counsel
of his choice concerning the terms and conditions of this Release; 

  

	 	(iv)	Executive has been advised, and is being advised by the Release, that he has twenty-one (21) days within which to consider the Release; and 

  

	 	(v)	Executive is aware that this Release shall become null and void if he revokes his agreement to this Release within seven (7) days following the date of execution of this Release.
Executive may revoke this Release at any time during such seven-day period by delivering (or causing to be delivered) to the General Counsel of the Holding Company at 615 Merrick Avenue, Westbury, New York 11590 written notice of his revocation of
this Release no later than 5:00 p.m. eastern time on the seventh (7th) full day following the date of execution of this Release (the “Effective Date”). 

  
 5.  Additional Agreements. Executive agrees that should any person or entity file or cause to be filed any
civil action, suit, arbitration, or other legal proceeding seeking equitable or monetary relief concerning any claim released by Executive herein, Executive shall not seek or accept any personal relief from or as the result of such civil action,
suit, arbitration, or other legal proceeding. 

 IN WITNESS WHEREOF, New York Community Bancorp, Inc. and New York Community Bank have caused this Release
to be executed by a duly authorized officer and Executive has signed this Release, in each case on the date set forth on the first page hereof. 
  
  

			
	 By:
	 	/s/ Joseph L. Mancino
	 	 	

	 	 	Joseph L. Mancino, Executive
	
	 NEW YORK COMMUNITY BANCORP, INC.

		
	 By:
	 	/s/ Joseph R. Ficalora
	 	 	

	 	 	Joseph R. Ficalora
	
	 NEW YORK COMMUNITY BANK

		
	 By:
	 	/s/ Joseph R. Ficalora
	 	 	

	 	 	Joseph R. Ficalora

  
  
  
 Annex A 
  
 Payments as more fully described in a letter, dated October 13, 2004, as
updated December 1, 2004, from Bernard Terlizzi, Executive Vice President/Human Resources to the Executive, including, (i) a cash payout of $2,612,812.58, minus lawful tax withholding; (ii) the continuation of certain welfare benefits, including,
medical, dental, vision, basic group and bank-owned life insurance; and (iii) the acceleration of all awards granted to the Executive under Company Stock Plans in accordance with the terms of the Executive’s Employment Agreement with the
Company and the Bank, dated June 27, 2003.

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