Document:

Exhibit 10.11

RESTATED FLUSHING SAVINGS BANK, FSB SUPPLEMENTAL SAVINGS INCENTIVE PLAN
(Restated as of January 1, 2002)

Unless  otherwise  required by the context,  the  capitalized  terms used herein
without  definition are defined in the Flushing Savings Bank, FSB 401(k) Savings
Plan (the "401(k) Plan") and shall have the same meanings as used therein.

DEFINITIONS

The  following  terms shall have the  meanings set forth below when used in this
Supplemental Savings Incentive Plan (the "Plan"):

     (a)  Deferral Credit - the amount of a Participant's  compensation deferred
          pursuant to the Plan.

     (b)  Matching Credit - the amount credited pursuant to the Plan by Flushing
          Savings Bank, FSB (the "Bank") on behalf of a Participant equal to 50%
          of the Participant's  Deferral Credit, or such other percentage of the
          Participant's  Deferral  Credit as may be  determined on a prospective
          basis by resolution of the Board of the Bank.

     (c)  Supplemental  Credit - the amount credited pursuant to the Plan by the
          Bank  equal to the  amount  that  would  have  been  contributed  to a
          Participant's   account  under  the  Flushing  Financial   Corporation
          Stock-Based  Profit  Sharing Plan (the "Profit  Sharing Plan") but for
          the  limitations  imposed by the Internal  Revenue Code (the  "Code"),
          including without limitation, Section 401(a)(17), Section 415, and the
          exclusion from Compensation (as defined in the Profit Sharing Plan) of
          amounts   deferred   under   this   Plan   (collectively,   the  "Code
          Limitations").

1.   PURPOSE OF THE PLAN

The purpose of this Plan is (i) to provide a procedure  whereby  certain  senior
officers of the Bank are permitted to defer a portion of their  compensation and
to receive Matching Credits with respect to such deferrals,  and (ii) to provide
Supplemental Credits for certain senior officers whose benefits under the Profit
Sharing Plan are subject to the Code  Limitations.  It is intended that the Plan
be an unfunded plan of deferred  compensation  covering a select group of highly
compensated or management employees.

2.   EFFECTIVE DATE

The Plan first became  effective on January 1, 1990 and was amended and restated
at various  times,  most  recently as of November  26,  1996.  This  Restatement
reflects  amendments  adopted by the Board of  Directors of the Bank on July 18,
2000.

3.   ELIGIBILITY

All vice presidents or above of the Bank who have completed at least one year of
service shall be Participants in the Plan.

4.   TYPES OF CREDITS

Deferral Credits. Each Participant shall be entitled to defer compensation under
this Plan. The maximum amount that a Participant may defer from his compensation
for a calendar year shall be equal to 15% of his Actual Compensation, less 6% of
his compensation as defined for purposes of the 401(k) Plan. Actual Compensation
for this purpose shall mean a  Participant's  base  compensation  for a calendar
year without  reduction for any pre-tax  contributions  to the 401(k) Plan or to
any other pension or welfare plan  maintained by the Bank, and without regard to
any limitation on

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compensation  imposed by Section  401(a)(17) of the Code.  The amount by which a
Participant defers his compensation for a calendar year shall be credited by the
Bank on  behalf of such  Participant,  and shall be  referred  to as a  Deferral
Credit.

All deferrals of  compensation  agreed to by a  Participant  for a calendar year
shall be in writing on a form prepared by the Bank. Each such deferral  election
shall be entered  into before the  beginning  of the  calendar  year to which it
relates, except that any person who first becomes eligible to participate in the
Plan during a calendar year may elect within 30 days of first becoming  eligible
to defer a portion of his  compensation  (as provided in this Plan) earned after
the date of such election.  All elections  shall be irrevocable for the duration
of the year or the remaining portion of the year for which the election is made.

Matching  Credits.  In  addition to a  Participant's  Deferral  Credit,  in each
calendar  year the Bank shall also  credit each  Participant  in the Plan with a
Matching  Credit  in an  amount  equal  to 50%  (or  such  other  percentage  as
determined by the Board on a prospective basis) of such  Participant's  Deferral
Credit for such calendar year.

Supplemental  Credits. In addition to Deferral Credits and Matching Credits, the
Bank shall also  credit  each  Participant  in the Plan with a number of phantom
shares  ("Phantom  Shares") of common  stock of Flushing  Financial  Corporation
("Common  Stock")  equal to the number of shares of Common Stock that would have
been credited to the Participant's account under the Profit Sharing Plan but for
the Code Limitations,  such additional credits to be referred to as Supplemental
Credits.

5.   TIME OF CREDITING; EARNINGS

All Deferral Credits,  Matching Credits, and Supplemental Credits  (collectively
referred to as "Credits") made on behalf of a Participant  pursuant to Paragraph
4 above shall be credited by the Bank as an item of  indebtedness of the Bank to
the  Participant.  A  Participant's  Deferral  Credit  shall be  credited to the
Participant as a fixed dollar amount on the date that the deferred  compensation
with respect to which such Credit arises would have been paid by the Bank to the
Participant (but for such deferral). Each Matching Credit shall be credited as a
fixed dollar amount at the same time as the Deferral Credit to which it relates.
Each  Supplemental  Credit  shall  be  credited  at the  same  time  as  related
contributions are made to the Profit Sharing Plan.

Prior  to July 1,  1991  all  Deferral  Credits  and  Matching  Credits  accrued
interest,  compounded  from  month to month on the basis of the  balance of such
Credits  (plus accrued  interest) on the first day of the  preceding  month at a
rate  determined  by  the  Board  of  Trustees  of  the  Flushing  Savings  Bank
(predecessor to the Bank) at the beginning of each calendar year.

Effective as of July 1, 1991, all Deferral Credits and Matching Credits, and all
accrued interest  thereon,  shall be deemed to be invested in one or more of the
investment funds offered by Retirement  System Fund, Inc. or in such other funds
as may be  specified  by the Bank from time to time,  in  multiples  of 10%,  as
directed from time to time no more frequently than once each calendar quarter by
the respective Participant.

Supplemental Credits shall be deemed to be invested exclusively in Common Stock,
provided,  however,  that in the event of a  transaction  described in the first
paragraph of Paragraph 13, Supplemental  Credits shall be deemed invested in the
manner set forth in such paragraph.

Participants  shall be  credited,  at least  quarterly,  with the  earnings  (or
losses) on such deemed investments.

6.   VESTING

A  Participant's  Deferral  Credits shall be 100% vested.  Matching  Credits and
Supplemental  Credits made on behalf of a  Participant  shall become 100% vested
upon the Participant's  death while employed by Flushing  Financial  Corporation
(the "Holding Company"),  the Bank or any Affiliated Employer,  or upon a Change
of Control (as defined in Paragraph 13) while  employed by the Holding  Company,
the Bank, or an Affiliated Employer, and otherwise shall vest in accordance with
the vesting  schedule  under the 401(k) Plan or the Profit  Sharing Plan, as the

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case may be,  taking into  account any  service  for  vesting  purposes  that is
recognized under the 401(k) Plan or the Profit Sharing Plan, as the case may be.
If a Participant terminates employment (for reasons other than death, retirement
or  disability)  at a time  when he is less than  100%  vested  in his  Matching
Credits or Supplemental Credits, the non-vested portion of such Matching Credits
and/or Supplemental Credits shall at that time be forfeited, and such forfeiture
shall not be restored,  irrespective of whether the Participant again becomes an
employee of the Holding Company, the Bank or any Affiliated Employer.

7.   METHOD OF PAYMENT

The aggregate amount of a Participant's  Deferral Credits and the vested portion
of his  Matching  Credits  and  Supplemental  Credits  (including  all  earnings
credited  thereon)  shall be paid to the  Participant in the form of a cash lump
sum within sixty (60) days  following his  termination  of  employment  with the
Holding Company,  the Bank or any Affiliated  Employer,  unless the Bank and the
Participant  agree  otherwise or the  Participant  elects,  at least twelve (12)
months prior to such  termination of employment,  to receive his benefits either
(i) in the form of a cash lump sum within sixty (60) days following the last day
of the calendar year in which occurs his  termination of employment,  or (ii) in
substantially equal annual installments over a period of five (5) or fewer years
commencing  within sixty (60) days  following the  Participant's  termination of
employment.  Such election must be made by written notice  delivered to the Bank
and shall  indicate  whether  payment of any unpaid  benefits shall be made in a
lump sum upon the Participant's death.

During the period of any installment distribution,  the balance of funds owed to
such former Participant shall be deemed to be invested by the Bank in accordance
with the  provisions  set forth in Paragraph 5 above as they would be applicable
to a Participant  who  continued to be employed by the Bank.  The amount of each
installment  shall be  equal to the  total  value  of a  Participant's  Deferral
Credits and the vested portion of his Matching Credits and Supplemental  Credits
(including  all earnings  credited  thereon) ten (10) days prior to the relevant
installment  payment date, divided by the total number of remaining  installment
payments elected. The Participant's  account in the Plan shall be debited by the
amount of any payment made to the Participant from his account.

Notwithstanding  any  election  by a  Participant  to defer  payment of benefits
following  termination of employment,  in the event that (i) a Participant has a
termination of employment (for any reason) within three (3) years after a Change
of Control, or (ii) a Change of Control occurs at any time after a Participant's
termination of employment,  the aggregate amount of the  Participant's  Deferral
Credits and the vested portion of his Matching Credits and Supplemental  Credits
(including the vested portion of all earnings  credited  thereon) which have not
previously been paid to such Participant shall be paid to the Participant in the
form of a cash lump sum within  thirty  (30) days  following  the  Participant's
termination  of employment  (in the case of clause (i)) or the Change of Control
(in the case of clause (ii)).

8.   BENEFICIARY

Each  Participant  may,  at any time,  designate  a  beneficiary  to receive his
Deferral Credits and vested Matching Credits and Supplemental  Credits under the
Plan in the event of his death prior to all such amounts being paid to him. Such
designation of beneficiary shall become effective when received by the Bank, and
shall be on a form provided by or otherwise acceptable to the Bank.

In the  event of the  death of a  Participant  either  prior  to  designating  a
beneficiary  pursuant to this Paragraph 8, or concurrent with or after the death
of such beneficiary,  or in the event of such  beneficiary's  death before he is
paid all of the amounts due to him as a result of the Participant's  death, such
amounts  shall be paid to the estate of the later to die of the  Participant  or
his  beneficiary;  provided,  however,  that in the event  that the  Participant
provides  for a  contingent  beneficiary  and  such  contingent  beneficiary  is
surviving  at the time of the  later  of the  death  of the  Participant  or his
primary beneficiary, such amount shall be paid to such contingent beneficiary. A
Participant may designate a trust as a beneficiary.

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9.   NONASSIGNABILITY

A Participant's  or  beneficiary's  right to any Credits  accumulated  hereunder
shall not be transferable or assignable, except by reason of the laws of descent
and distribution.

10.  NO EQUITABLE OR SECURITY RIGHT CREATED

The Holding  Company or the Bank,  by  determination  of the Board,  may at some
future  date enter  into an  agreement  with  another  organization  to hold the
deferred  funds  and  administer  the  Plan in  accordance  with the  rules  and
procedures  outlined herein.  Notwithstanding  the foregoing,  no Participant or
beneficiary  entitled to receive Credits  (including  earnings credited thereon)
under this Plan shall have any  equitable  or  security  rights in any  specific
assets of the Holding  Company or the Bank,  and the rights of  Participants  or
their  beneficiaries  under this Plan  shall not be  greater  than the rights of
unsecured general creditors of the Holding Company or the Bank.

All Credits shall  constitute  general assets of the Holding Company or the Bank
and neither a Participant nor any designated  beneficiary  shall have any rights
in or against  any amounts  held by the  Holding  Company or the Bank as Credits
under this Plan.  Credits may not be encumbered or assigned by a Participant  or
any beneficiary.

11.  EFFECT OF DETERMINATION

If any  amounts  deferred  pursuant  to the Plan are found in a  "determination"
(within the meaning of Section 1313(a) of the Internal  Revenue Code of 1986, as
amended)  to have been  includible  in gross  income by a  Participant  prior to
payment of such amounts under the Plan,  such amounts shall be immediately  paid
to such Participant, notwithstanding his deferral and payment elections.

12.  TAX WITHHOLDING

If upon the crediting or payment of any benefits under the Plan, the Bank or any
related  employer shall be required to withhold any amounts with respect to such
benefits  by  reason  of  any  federal,  state  or  local  tax  laws,  rules  or
regulations,  then the Bank or such  employer  shall be  entitled  to deduct and
withhold  such amounts from any such  benefits.  In any event,  the recipient of
such benefits shall make  available to the Bank or such employer,  promptly when
requested by the Bank or the  employer,  sufficient  funds or other  property to
meet the requirements of any withholding; furthermore, the Bank or such employer
shall be entitled to take and authorize  such steps as it may deem  advisable in
order to have the amounts  required to be withheld  made  available to it out of
any funds or property  payable to the recipient of the  benefits,  whether under
the Plan or otherwise.

13.  CHANGE OF CONTROL

In the event of a merger, acquisition or other corporate transaction as a result
of which the Common  Stock is no longer  outstanding  or the Bank or the Holding
Company survives as a subsidiary of another entity,  each share of Phantom Stock
credited as  Supplemental  Credits  shall be converted to a fixed dollar  amount
equal to the fair market value of the cash,  securities,  and/or other  property
payable  in the merger or other  transaction  to the holder of a share of Common
Stock, and thereafter Supplemental Credits shall be deemed to be invested in the
same manner as Deferral Credits and Matching Credits.

For purposes of this Plan, a "Change of Control" means:

     (a)  the acquisition of all or substantially  all of the assets of the Bank
          or the Holding  Company by any person or entity,  or by any persons or
          entities acting in concert;

     (b)  the  occurrence of any event if,  immediately  following such event, a
          majority of the members of the Board of  Directors  of the Bank or the
          Holding  Company  or of any  successor  corporation  shall  consist of
          persons  other than Current  Members (for these  purposes,  a "Current
          Member" shall mean any member of the Board of Directors of the Bank or
          the Holding Company as of the

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          effective date of the Bank's conversion from the mutual to the capital
          stock form of ownership,  and any successor of a Current  Member whose
          nomination  or election has been approved by a majority of the Current
          Members then on the Board of Directors); or

     (c)  the  acquisition of beneficial  ownership,  directly or indirectly (as
          provided in Rule 13d-3 under the Securities  Exchange Act of 1934 (the
          "Act"),  or any successor  rule), of 25% or more of the total combined
          voting  power of all  classes  of  stock  of the  Bank or the  Holding
          Company by any person or group deemed a person under Section  13(d)(3)
          of the Act; or

     (d)  approval by the  stockholders of the Bank or the Holding Company of an
          agreement providing for the merger or consolidation of the Bank or the
          Holding Company with another corporation where the stockholders of the
          Bank or the  Holding  Company,  immediately  prior  to the  merger  or
          consolidation,  would not  beneficially  own,  directly or indirectly,
          immediately after the merger or  consolidation,  shares entitling such
          stockholders  to 50% or more of the total combined voting power of all
          classes of stock of the surviving corporation.

14.  CHOICE OF LAW

This Plan shall be  construed  in  accordance  with the laws of the State of New
York, without reference to conflicts of law principles.

15.  MISCELLANEOUS

     (a)  The Plan shall be administered by the Bank's Benefits/Compensation and
          Insurance  Committee.  The decision of such  Committee with respect to
          any questions arising as to the interpretation of this Plan, including
          the  severability of any and all of the provisions  thereof,  shall be
          final,  conclusive  and  binding.

     (b)  The Bank  reserves  the right to modify this Plan from time to time or
          to  terminate  the Plan  entirely  by action of the  Board;  provided,
          however,  that no  modification  or  termination  of this  Plan  shall
          operate to reduce amounts already credited to a Participant  under the
          Plan, or to reduce the right to future  earnings  credits as set forth
          in  Paragraph  5, unless the  affected  Participant  consents.

     (c)  No amounts owed  hereunder  shall be deemed a deposit or a checking or
          savings account.Exhibit 10.16(d) Amendment No. 4 to Gerard P. Tully, Sr. Consulting Agreement.

                           AMENDMENT TO THE AGREEMENT

     This  Amendment  to  the  Agreement  dated  as of  December  1,  1995  (The
"Agreement")  is entered  into as of December 1, 2001 between  Flushing  Savings
Bank, FSB, (the "Bank"),  Flushing  Financial  Corporation (the "Company"),  and
Gerard P. Tully, Sr. ("Mr. Tully").

                                   WITNESSETH:

     WHEREAS,  the Bank and Mr. Tully  entered into the Agreement as of December
1, 1995 and the Bank and Mr. Tully  desire to amend the  Agreement to extend the
term thereof as set forth herein;

     NOW,  THEREFORE,  for good and adequate  consideration,  the sufficiency of
which is hereby acknowledged, the Bank and Mr. Tully agree as follows:

     1. Section 1 of the  Agreement as previously  amended is hereby  amended by
replacing the date November 30, 2001 with the date November 30, 2004.

     2. Section 3 of the Agreement is hereby  amended by replacing the aggregate
fee per month to be $12,916.67.

     3. The  amendment set forth in paragraphs 1 and 2 hereof shall be effective
December 1, 2001. Except as amended by paragraphs 1 and 2 hereof,  the Agreement
as previously amended shall remain in effect in accordance with its terms.

     IN WITNESS WHEREOF, Mr. Tully and the Bank have caused this Amendment to be
executed on this 30th day of November, 2001.

                                                  FLUSHING SAVINGS BANK, FSB

                                                  By: /s/ Michael J. Hegarty
                                                     --------------------------
                                                          President & CEO

                                                  FLUSHING FINANCIAL CORPORATION

                                                  By: /s/ Anna Piacentini
                                                      ------------------------
                                                      Senior Vice President

                                                   /s/ Gerard P. Tully, Sr.
                                                  --------------------------
                                                       Gerard P. Tully, Sr.

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