Document:

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Exhibit No. 10(xiv) - Employment Agreement between MAF Bancorp, Inc. and David
Burba

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                               MAF BANCORP, INC.

                             EMPLOYMENT AGREEMENT

     This AGREEMENT, is made effective as of January 1, 1999 ("Effective Date"),
by and between MAF BANCORP, INC., a Delaware corporation (the "Company")  and
David C. Burba ("Executive").

     WHEREAS, the Executive was previously employed by Westco Bancorp, Inc.
("Westco") and by the First Federal Savings and Loan Association of Westchester
(the "Westco Subsidiary"); and

     WHEREAS, Westco has merged with and into the Company and the Westco
Subsidiary has become a wholly-owned subsidiary of the Company through a merger
with Mid America Bank, fsb (the "Bank"); and

     WHEREAS, the Company desires to provide for the employment of the Executive
by the Company and the Bank following the Merger and the termination of his
employment agreements with Westco and the Westco Subsidiary ("Westco Employment
Agreements"); and

     WHEREAS, the Executive is willing to commit himself to serving the Company
and the Bank  on the terms and conditions herein provided;

     NOW, THEREFORE, in consideration of the mutual covenants herein contained,
and upon the other terms and conditions hereinafter provided, the parties hereby
agree as follows:

     1.   POSITION AND RESPONSIBILITIES.
          -----------------------------

     (a)  Executive shall be employed as an Executive Vice President of the
Company and of the Bank effective as of the date hereof for the Period of
Employment as defined hereafter.  The Executive shall report to the Chairman of
the Board and Chief Executive Officer of the Company (the "CEO").  The
Executive's duties and responsibilities shall consist of such duties and
responsibilities as may from time to time be assigned to the Executive by the
CEO, which duties and responsibilities shall be duties customary for an
Executive Vice President of the Company or Bank and will initially involve
directing and expanding the lending lines of business that Westco and the Westco
Subsidiary have developed in the Lincoln Park and Lakeview areas of Chicago,
representing the Company in identifying merger and acquisition candidates,
maintaining the retail banking customer relationships in the Westco and Westco
Subsidiary offices, representing the Bank in trade association activities and
participating in the decision-making process and meetings of the Company's and
Bank's senior management.  The Executive shall devote substantially all of his
business time, attention, skill and efforts to the faithful performance of his
duties hereunder including activities and services related to the organization,
operation and management of the Company and the Bank.

     (b)  At the first regularly scheduled meeting of their respective Board of
Directors after the Effective Date, the Company and Bank shall cause Executive
to be elected to the Board of Directors of the Company and the Bank for a term
expiring at the Company's 1999 Annual Meeting of Stockholders and to nominate
the Executive for election at that meeting for a term
<PAGE>

expiring at the Company's 2002 Annual Meeting of Stockholders. Executive
acknowledges that for so long as he is an employee of the Company or the Bank,
he will not be entitled to any compensation in connection with his service as a
director, other than the annual retainer then paid to employee-directors. In the
event he becomes a non-employee director, Executive will be entitled to such
compensation, including stock option awards, as may then be paid to non-employee
directors.

     2.   PERIOD OF EMPLOYMENT.  The period of the Executive's employment under
          --------------------
this Agreement (the "Period of Employment") as an Executive Vice President shall
commence upon the Effective Date hereof  and shall continue for a period of
thirty-six (36) full calendar months thereafter.

     3.   COMPENSATION AND REIMBURSEMENT.
          ------------------------------

     (a)  Salary.  During the Period of Employment, the Bank shall pay the
          ------
Executive the compensation specified in this Agreement for the services
performed hereunder.  The Bank shall pay the Executive as compensation a base
salary ("Base Salary") of $205,000 per year.

     (b)  Bonuses.
          -------

          (i)  In consideration of the Executive's agreement to terminate his
Westco and Westco Subsidiary Employment Agreements and his entitlement to any
amounts thereunder, and of his agreement to continue in the employ of the
Company  under the terms described in this Agreement, the Executive shall
receive a retention bonus in an amount equal to $920,000, less applicable state
and federal withholding taxes.  The retention bonus shall be paid in three
installments: the first installment of $75,000 shall, to the extent not paid by
Westco or the Westco Subsidiary prior to the Effective Date, be paid no later
than January 10, 1999; the second installment of $650,000 shall be paid on April
1, 1999; and the third installment of $195,000 shall be paid on April 1, 2000.
The Bank shall increase the amount of the third installment by the amount of
interest that would have been credited on such amount as if it had been deferred
under the Bank's Executive Deferred Compensation Plan on April 1, 1999.  In the
event of Executive's death or termination of employment for any reason prior to
the full payment of the retention bonus, the retention bonus shall be paid to
the Executive or to his designated beneficiary at the dates set forth above.

          (ii) The Executive shall be eligible for consideration in 1999 and
subsequent years for annual incentive bonuses on the same basis as any annual
incentive bonus payable to other executives of the Company participating in Tier
II of the MAF Bancorp, Inc. Annual Incentive Plan and the plans described in
paragraph 3(c) below ("Comparable Executives") as determined by the Compensation
Committee of the Company's Board of Directors. Executive acknowledges that under
the Company's current compensation program, Comparable Executives participate in
Tier II of the annual incentive and other plans and are eligible to receive
annual bonuses in the range of 40% to 60% of Base Salary assuming certain safety
and soundness standards are maintained and the Company's earnings performance is
between target and superior, as such terms are defined under the annual
incentive plan.

     (c)  Options.
          -------
<PAGE>

          (i)  The Company shall grant to Executive an option to purchase
10,000 shares of Company common stock as of the Effective Date, or if later, the
date in January 1999 on which the Company grants options to Comparable
Executives.  Such option shall be granted under the Company's 1990 Incentive
Stock Option Plan (the "Incentive Plan") and shall be on the same terms and
conditions as non-qualified options granted in January 1999 to Comparable
Executives as part of the Company's annual option award program.  The Executive
shall be entitled to receive additional option grants under the Incentive Plan
in each of 2000, 2001 and 2002 on the same basis as such grants are made to
Comparable Executives.

          (ii) In addition, on the later of the Effective Date or the date in
1999 on which grants are made to Comparable Executives, the Executive will be
eligible for consideration to receive stock option grants under the 1993 Premium
Price Stock Option Plan and performance unit awards under the Company's
Shareholder Value Long-Term Incentive Plan on the same basis as grants and
awards are made to Comparable Executives.  The Executive shall be entitled to
receive additional grants and awards under these Plans in each of 2000, 2001 and
2002 on the same basis as such grants are made to Comparable Executives.

     (d)  Vacation; Fringe Benefits. During the Period of Employment, the
          -------------------------
Executive shall be entitled to a paid vacation, periods of absence occasioned by
illness and reasonable leaves of absence, automobile allowance, and to expense
reimbursement related to country club dues, participation in and attendance at
professional and civic organizations, meetings and conventions, in each instance
in accordance with Company policies applicable to Comparable Executives.

     (e)  Benefit Plans.  Except as set forth below, the Executive shall be
          -------------
eligible to participate in or receive benefits under any employee benefit plans
of the Company and Bank including, but not limited to, profit sharing and 401(k)
plans, employee stock ownership (ESOP) plans, health-and-accident plans, medical
coverage or any other employee  benefit plans or arrangements, subject to and on
a basis consistent with the terms, conditions and overall administration of such
plans and arrangements.  Nothing paid to the Executive under any such plan or
arrangement shall be deemed to be in lieu of other compensation to which the
Executive is entitled under this Agreement.  In addition, Executive shall be
entitled to participate in other executive benefit plans at the same level as
Comparable Executives.  In addition to the stock option plans and annual
incentive plan described above, these plans shall include the Mid America Bank
Executive Deferred Compensation Plan, the Mid America Bank Directors Deferred
Compensation Plan and the Mid America Bank Supplemental Executive Retirement
Plan; provided, however, that in the event of a change in control (as defined in
the Deferred Compensation Plans and the Supplemental Executive Retirement Plan),
the Executive shall not be entitled to receive any additional years of service
credit or other incremental benefits applicable to other participants under such
Plans in connection with a change in control.  For purposes of vesting and
eligibility to participate in such plans (but not for purposes of determining
benefits thereunder), Executive shall be given credit for Executive's service
with Westco and the Westco Subsidiary.
<PAGE>

     4.   TERMINATION; NOTICE.
          -------------------

     (a)  The Company may terminate the Executive's employment with the Company
and the Bank at any time, with or without Cause. The Executive may terminate his
employment with the Company and Bank at any time for any reason.

     (b)  As used in this Agreement, an "Event of Termination" shall mean:

          (i)  the termination by the Company and the Bank of the Executive's
full-time employment hereunder for any reason other than for Cause, death or
Disability, or

          (ii) the voluntary termination  by the Executive of employment with
the Company and the Bank following a substantial breach of this Agreement by the
Company or Bank which breach is not cured by the Company or Bank within thirty
(30) days following the date the Executive gives written Notice of Termination
indicating the Executive's intention to voluntarily terminate employment as a
result thereof.

     (c)  Following the occurrence of an Event of Termination, the Bank shall
continue to pay to the Executive, or, in the event of his subsequent death, his
beneficiary or beneficiaries, or his estate, as the case may be, as severance
pay or liquidated damages, or both, the Base Salary and the annual incentive
bonus described in paragraph 3(b)(ii) above and to continue the life, medical
and other insurance benefits otherwise provided hereunder for the remainder of
the Period of Employment, as if Executive's employment continued hereunder, in
exchange for which the Executive shall execute and deliver to the Bank a release
and settlement agreement pursuant to which the Executive shall waive any and all
claims resulting from employment at or termination from the Bank other than
payments or benefits which are expressly provided for in this Agreement.

     (d)  The term "for Cause" shall mean termination because of the Executive's
personal dishonesty, incompetence, willful misconduct, any breach of fiduciary
duty involving personal profit, intentional failure to perform stated duties,
willful violation of any law, rule, or regulation (other than traffic violations
or similar offenses) or final cease-and-desist order, or material breach of any
provision of this Agreement.  In determining incompetence, the acts or omissions
shall be measured against standards generally prevailing in the savings
institution industry.  In determining willfulness, no act or failure to act on
the Executive's part shall be considered "willful" unless done or omitted to be
done by him not in good faith and without reasonable belief that his action or
omission was in the best interests of the Bank.

     (e)  The term "Disability" shall mean the Executive's absence from his
duties on a full-time basis for six (6) consecutive months as a result of his
incapacity due to physical or mental illness and his failure to return to full-
time performance of his duties within thirty (30) days after written notice of
potential termination is given to Executive by the Company.

     (f)  Any termination by the Company or by Executive shall be communicated
by Notice of Termination to the other party hereto and the termination shall
become effective as of the "Date of Termination" with respect thereto. For
purposes of this Agreement, a "Notice of Termination" shall mean a written
notice which shall indicate the specific termination provision in this
<PAGE>

Agreement relied upon and shall set forth in detail the facts and circumstances
claimed to provide a basis for the termination. The "Date of Termination" shall
be

          (i)    thirty (30) days after the Notice of Termination is given if
the Notice of Termination is given by the Company without Cause or due to
Disability, or by the Executive in the absence of a substantial breach of the
Agreement; or

          (ii)   the date the Notice of Termination is given if the termination
is by the Company for Cause; or

          (iii)  thirty (30) days after the Notice of Termination is given if
the Notice of Termination is given in connection with a substantial breach of
the Agreement by the Company or the Bank and such breach is not cured within
such thirty (30) day period.

     5.   POST-EMPLOYMENT RESTRICTIVE COVENANTS.  The Executive's activities
          -------------------------------------
during his employment and following the termination of his employment for any
reason shall be subject to the Agreement Regarding Post-Employment Restrictive
Covenants attached hereto as Appendix A.

     6.   EFFECT ON PRIOR AGREEMENTS.  This Agreement contains the entire
          --------------------------
understanding between the parties hereto and supersedes any prior employment or
severance compensation agreements between Executive and Westco.

     7.   MODIFICATION AND WAIVER.  This Agreement may not be modified or
          -----------------------
amended except by an instrument in writing signed by the parties hereto. 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 as to any act other than that specifically waived.

     8.   TAX WITHHOLDING.  The Bank may withhold from any amounts payable to
          ---------------
the Executive under this Agreement to satisfy all applicable Federal, State,
local or other withholding taxes. In the event the Bank fails to withhold such
sums for any reason, it may require the Executive to promptly remit to it
sufficient cash to satisfy all applicable income and employment withholding
taxes.

     9.   ARBITRATION.  Except as expressly set forth elsewhere in this
          -----------
Agreement, it is mutually agreed between the parties that arbitration shall be
the sole and exclusive remedy to redress any dispute, claim or controversy
(hereinafter referred to as "grievance") involving the interpretation of this
Agreement or the terms or conditions of this Agreement or the terms, conditions
or termination of the Executive's employment with the Company or Bank.  It is
the intention of the parties that the arbitration award shall be final and
binding and that a judgment on the award may be entered in any court of
competent jurisdiction and enforcement may be had according to its terms.
Arbitration shall be initiated by one party filing a written demand on the other
party.  Any demand for arbitration by the Executive shall be made within 20 days
after receipt of the Notice of Termination.  The arbitrator shall be chosen in
accordance with the
<PAGE>

voluntary labor arbitration rules of the American Arbitration Association. The
place of the arbitration shall be the offices of the American Arbitration
Association in Chicago, Illinois. The arbitrator shall not have jurisdiction or
authority to change any of the provisions of this Agreement but shall interpret
or apply any clause or clauses of this Agreement. The arbitrator shall have the
power to compel the attendance of witnesses at the hearing. The parties
stipulate that the provisions hereof, and the decision of the arbitrator with
respect to any grievance, shall be the sole and exclusive remedy for any alleged
breach of the employment relationship in which event the Company or Bank shall
be entitled to seek relief in any court having jurisdiction thereof. The parties
hereby acknowledge that subject to the foregoing exception, neither party has
the right to resort to any federal, state or local court or administrative
agency concerning breaches of this Agreement and that the decision of the
arbitrator shall be a complete defense to any suit, action or proceeding
instituted in any federal, state or local court or before any administration
agency with respect to any grievance which is arbitrable as herein set forth.
The arbitration provisions hereof shall, with respect to any grievance, survive
the termination or expiration of the Executive's employment under this
Agreement.

     10.  MISCELLANEOUS.
          -------------

     (a)  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.

     (b)  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.

     (c)  To the extent not preempted by Federal law, this Agreement shall be
governed by and construed in accordance with the laws of the State of Illinois.

     (d)  Notwithstanding anything herein to the contrary, to the extent that
any compensation or benefits are paid to or received by Executive from the Bank
or any other subsidiary of the Company, such compensation or benefits shall be
deemed to satisfy the Company's obligations hereunder.

     11.  SUCCESSORS.  This Agreement shall be binding upon and inure to the
          ----------
benefit of the Company, and its successors and Executive and his successors and
assigns.  The Company shall require any successor or assignee, whether direct or
indirect, by purchase, merger, consolidation or otherwise, expressly and
unconditionally to assume and agree to perform the Company's obligations under
this Agreement, in the same manner and to the same extent that the Company would
be required to perform if no such succession or assignment had taken place.

                          [SIGNATURE PAGE TO FOLLOW]
<PAGE>

     IN WITNESS WHEREOF, each of the Company and Bank have caused this Agreement
to be executed by its  duly authorized officer and the Executive has signed this
Agreement, effective as of the date first written above.

                              MAF BANCORP, INC.

                              By:   /s/ Allen H. Koranda
                                    ------------------------------------
                                    Allen H. Koranda
                                    Chairman and Chief Executive Officer

                              Executive:

                              /s/ David C.Burba
                              ----------------------------------------
                              David C. Burba
<PAGE>

                                                                 Exhibit 10(xiv)

                Amendment to Employment Agreement of David Burba

The undersigned, in consideration of their mutual promises and other good and
valuable consideration, hereby agree to amend the Employment Agreement of David
Burba dated January 1, 1999, (the "Agreement"), as shown below.  Such amendment
shall be effective as of the date shown below.

Section 4(g) shall be added as follows:

Notwithstanding Section 4(c) of this Agreement, in the event it shall be
determined that a payment or distribution of the type described in Sections
3(c), (e) and 4(c) to or for the benefit of the Executive by the Holding
Company, any of its affiliates, or any person who acquires ownership or
effective control of the Holding Company or ownership of a substantial portion
of the Holding Company's assets (within the meaning of Section 280G of the Code,
and the regulations thereunder) or any affiliate of such person, whether paid or
payable or distributed or distributable pursuant to the terms of this Agreement
or otherwise (the "Total Payments"), is subject to the excise tax imposed by
Section 4999 of the Code or any similar successor provision or any interest or
penalties with respect to such excise tax (such excise tax, together with any
such interest and penalties, are collectively referred to as the "Excise Tax"),
then, except in the case of a Deminimus Excess Amount (as described below), the
Executive shall be entitled to receive an additional payment (a "Gross-Up
Payment") in an amount such that after payment by the Executive of all taxes
imposed upon the Gross-Up Payment (including any federal, state and local
income, payroll or excise taxes and any interest or penalties imposed with
respect to such taxes), the Executive retains an amount of the Gross-Up Payment
equal to the Excise Tax imposed upon the Total Payments (not including any
Gross-Up Payment).

In the event that the amount by which the present value of the Total Payments
which constitute "parachute payments" (within the meaning of Section 280G of the
Code)(the "Parachute Payments") exceeds three (3) times the Executive's "base
amount" (within the meaning of Section 280G of the Code)(the "Base Amount") is
less than 3% of the amount payable to Executive under Section 4(c) of this
Agreement, such excess shall be deemed to be a Deminimus Excess Amount and the
Executive shall not be entitled to a Gross-Up Payment.  In such an instance, the
Parachute Payments shall be reduced 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; provided that such reduction shall not be made
unless the Non-Triggering Amount would be greater than the aggregate value of
the Parachute Payments (without such reduction) minus the amount of Excise Tax
required to be paid by Executive thereon.  The reduction required hereby shall
be made by reducing the amount payable under Section 4(c) of this Agreement.

                                       1
<PAGE>

All determinations as to the portion, if any, of the Total Payments which
constitute Parachute Payments, whether a Gross-Up Payment is required, the
amount of such Gross-Up Payment, the amount of any reduction, and any amounts
relevant to the foregoing paragraphs of this Section 4(g) shall be made by an
independent accounting firm selected by the Holding Company, which may be the
accounting firm then regularly retained by the Holding Company (the "Accounting
Firm").  The Accounting Firm shall provide its determination (the
"Determination"), together with detailed supporting calculations, regarding the
amount of any Gross-Up Payment and any other relevant matter, both to the
Holding Company and the Executive, within five (5) days of a date of
termination, if applicable, or such earlier time as is requested by the Holding
Company or the Executive (if the Executive reasonably believes that any of the
Total Payments may be subject to the Excise Tax).  Any determination by the
Accounting Firm shall be binding upon the Holding Company and the Executive.  As
a result of uncertainty in the application of Sections 280G and 4999 of the Code
at the time of the initial determination by the Accounting Firm hereunder, or as
a result of a subsequent determination by the Internal Revenue Service or a
judicial authority, it is possible that the Holding Company should have made
Gross-Up Payments ("Underpayment"), or that Gross-Up Payments will have been
made by the Holding Company which should not have been made ("Overpayments").
In either such event, the Accounting Firm shall determine the amount of the
Underpayment or Overpayment that has occurred.  In the case of the Underpayment,
the amount of such Underpayment shall be promptly paid by the Holding Company to
or for the benefit of the Executive.  In the case of an Overpayment, the
Executive shall, at the direction and expense of the Holding Company, take such
steps as are reasonably necessary (including the filing of returns and claims
for refund), follow reasonable instructions from, and procedures established by,
the Holding Company, and otherwise reasonably cooperate with the Holding Company
to correct such Overpayment, including repayment of such Overpayment to the
Holding Company.

Effect of Certain Accounting Rules.  The Executive acknowledges that it is in
the Holding Company's and Bank's best interests to remain eligible to account
for any business combination into which they may become a party under the
"pooling-of-interests" method of accounting.  The Holding Company does not
believe that any provision of the foregoing Amendment to Employment Agreement
will affect the Holding Company's or Bank's ability to so account for any
business combination.  Due to the uncertainties associated with the accounting
rules governing the pooling-of-interests method, however, it is possible that
the provisions of this Amendment may impact the Holding Company's or Bank's
ability to use pooling-of-interests accounting for business combinations.
Accordingly, in the event the Board of Directors determines it to be in the best
interests of the Holding Company or Bank to account for a business combination
under the pooling-of-interests method and, in the written opinion of the
Accounting Firm referred to above, if any provision of this Amendment makes a
business combination to which the Holding Company or Bank is a party ineligible
for pooling-of interests accounting under the provisions of APB Opinion No. 16,
as modified or amended, that but for such provision of this Amendment to
Employment Agreement would otherwise be eligible for such accounting treatment,
then the Holding Company and Executive agree that the terms of this Amendment
shall be rescinded to the extent necessary to enable the business combination to
so qualify for such accounting treatment.

                                       2
<PAGE>

IN WITNESS WHEREOF, the parties have executed this Amendment effective this
October 26, 1999.

ATTEST:                                     MAF BANCORP, INC.

By:   /s/ Carolyn Piherra                   By:   /s/ Allen Koranda
   -------------------------------              -------------------------
    Carolyn Pihera                              Allen Koranda
    Corporate Secretary                         Chief Executive Officer

                                            EMPLOYEE

                                            By:  /s/ David Burba
                                               --------------------------
                                                David Burba

                                       3<PAGE>

                                                              Exhibit No. 10(xv)

Exhibit 10(xv) Form of Special Termination Agreement, as amended, between MAF
Bancorp, Inc., and Kenneth Rusdal and various officers.

The attached Special Termination Agreement dated April 27, 1993, as amended,
between MAF Bancorp, Inc. and Kenneth Rusdal is substantially identical in
all material respects (except as otherwise noted below) with the other contracts
listed below which are not being filed:

          Parties to Special Termination Agreement
          ----------------------------------------

          MAF Bancorp, Inc. and Gerard J. Buccino

          MAF Bancorp, Inc. and Michael J. Janssen

          MAF Bancorp, Inc. and David W. Kohlsaat

          MAF Bancorp, Inc. and William Haider

          MAF Bancorp, Inc. and Thomas Miers

          MAF Bancorp, Inc. and Sharon Wheeler

          MAF Bancorp, Inc. and Gail Brzostek

          MAF Bancorp, Inc. and Alan Schatz

          MAF Bancorp, Inc. and Diane Stutte

                                       1
<PAGE>

                               MAF BANCORP, INC.
                         SPECIAL TERMINATION AGREEMENT

    This AGREEMENT is made effective as of April 27, 1993 by and between
MAF Bancorp, Inc. (the "Holding Company"), a corporation organized under the
laws of the State of Delaware, with its office at 55th & Holmes Streets,
Clarendon Hills, Illinois, and Kenneth Rusdal (the "Executive"). The term "Bank"
refers to Mid America Federal Savings Bank, the wholly-owned subsidiary of the
Company.

    WHEREAS, the Holding Company recognizes the substantial experience and
abilities of the Executive and the Holding Company wishes to protect his
position therewith for the period provided in this Agreement; and

     WHEREAS, Executive has been elected to, and has agreed to serve as an
Executive of the Holding Company and in the position of Senior Vice
President-Operations/Information Systems of the Bank, positions of substantial
responsibility which will require Executive to render administrative and
management services to the Holding Company such as are customarily performed by
persons in a similar executive capacity.

    NOW, THEREFORE, in consideration of the contribution and responsibilities 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 deemed to have commenced as of the
date first above written and shall continue for a period of thirty-six (36) full
calendar months thereafter. At each anniversary date, the board of directors of
the Holding Company ("Board") may extend the Agreement an additional year. The
Board will review the Agreement and the Executive's performance annually for
purposes of determining whether to extend the Agreement, and the results thereof
shall be included in the minutes of the Board's meeting. In the event the
Executive chooses not to renew the Agreement, the Executive shall provide the
Holding Company with written notice at least ten (10) days and not more than
twenty (20) days prior to such anniversary date. If either the Holding Company
or the Executive chooses not to renew the Agreement for an additional period,
the Agreement shall cease at the end of its remaining term unless the
Executive's employment is voluntarily or involuntarily terminated with the
Holding Company pursuant to Section 2 hereof.

2.  PAYMENTS TO EXECUTIVE UPON CHANGE IN CONTROL.
    --------------------------------------------

    (a)   Upon the occurrence of a Change in Control of the Holding
Company (as herein defined) followed at any time during the term of this
Agreement by the voluntary or involuntary termination of Executive's employment,
other than for Cause, as defined in Section 2(c) hereof, the provisions of
Section 3 shall apply. Upon the occurrence of a Change in Control, Executive
shall have the right to elect to voluntarily terminate his employment at any
time during the term of this Agreement following any demotion, loss of title,
office or significant authority, reduction in his annual compensation, or
relocation of his principal place of employment by more than 50 miles from its
location immediately prior to the Change in Control.

    (b)   Definition of a Change in Control.  A "Change in Control" of the
Bank or the Holding Company shall mean a change in control of a nature that:
(i) would be required to be reported in response to Item 1 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

                                       2
<PAGE>

(ii) results in a Change in Control of the Bank or the Holding Company within
the meaning of the Home Owners Loan Act of 1933 and the Rules and Regulations
promulgated by the Office of Thrift Supervision (or its predecessor agency), as
in effect on the date hereof including Section 574 of such regulations; 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 or makes an
offer to purchase securities of the Bank or Holding Company representing 20% or
more of the Bank's or Holding Company's outstanding securities, except for any
securities of the Bank purchased by the Holding Company in connection with the
conversion of the Bank to the stock form and any securities purchased by the
Bank's employee stock ownership plan and trust; or (b) individuals who
constitute the Board of Directors of the Holding Company 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 Holding Company's shareholders was approved by the Holding Company's
Nominating Committee, shall be, for purposes of this clause (b), considered as
though he were a member of the Incumbent Board; or (c) merger, consolidation or
sale of all or substantially all the assets of the Bank or Holding Company
occurs; or (d) a proxy statement shall be distributed soliciting proxies from
stockholders of the Holding Company, by someone other than the current
management of the Holding Company, seeking stockholder approval of the
reorganization, merger or consolidation of the Holding Company or Bank with one
or more corporations as a result of which the outstanding shares of the class of
securities then subject to the Plan are exchanged for or converted into cash or
property or securities not issued by the Bank or Holding Company; or (e) a
tender offer is made for 20% or more of the outstanding securities of the Bank
or Holding Company. However, notwithstanding anything contained in this section
to the contrary, a Change in Control shall not be deemed to have occurred as a
result of an event described in (i), (ii) or (iii) (a), (c) or (e) above which
resulted from an acquisition or proposed acquisition of stock of the Holding
Company by a person, as defined in the OTS' Acquisition of Control Regulations
(12 C.F.R. (S) 574) (the "Control Regulations"), who was an executive officer of
the Holding Company on January 19, 1990 and who has continued to serve as an
executive officer of the Holding Company as of the date of the event described
in (i), (ii) or (iii) (a), (c) or (e) above (an "incumbent officer"). In the
event a group of individuals acting in concert satisfies the definition of
"person" under the Control Regulations, the requirements of the preceding
sentence shall be satisfied, and thus a change in control shall not be deemed to
have occurred, if at least one individual in the group is an incumbent officer.

    (c)   Executive shall not have the right to receive termination
benefits pursuant to Section 3 hereof upon Termination for Cause. The term
"Termination for Cause" shall mean termination upon intentional failure to
perform stated duties, personal dishonesty which results in loss to the Holding
Company or one of its affiliates or willful violation of any law, rule,
regulation or final cease and desist order which results in substantial loss to
the Holding Company or one of its affiliates or any material breach of this
Agreement. For purposes of this Section, no act, or the failure to act, on
Executive's part shall be "willful" unless done, or omitted to be done, not in
good faith and without reasonable belief that the action or omission was in the
best interest of the Holding Company or its affiliates. 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 three-fourths 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. The 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 Holding Company or any subsidiary or affiliate
thereof, shall become null and

                                       3
<PAGE>

void effective upon Executive's receipt of Notice of Termination for Cause
pursuant to Section 9 hereof, and shall not be exercisable by Executive at any
time subsequent to such Termination for Cause.

3.  TERMINATION BENEFITS.
    --------------------

    (a)   Upon the occurrence of a Change in Control, followed at any time
during the term of this Agreement by the voluntary or involuntary termination of
Executive's employment, other than for Termination for Cause, the Bank and the
Holding Company shall pay Executive, or in the event of his subsequent death,
his beneficiary or beneficiaries, or his estate, as the case may be, as
severance pay or liquidated damages, or both, a sum equal to three (3) times the
average annual base salary paid to Executive for the three (3) years immediately
preceding Executive's termination. At the discretion of the Executive, upon an
election pursuant to Section 3(e) hereof, such payment may be made in a lump sum
immediately upon severance of Executive's employment or paid, on a pro rata
basis, semi-monthly during the thirty-six (36) months following the Executive's
termination.

    (b)   Upon the occurrence of a Change in Control of the Bank or the
Holding Company followed at any time during the term of this Agreement by
Executive's voluntary or involuntary termination of employment, other than for
Termination for Cause, the Holding Company shall cause to be continued life,
health and disability coverage substantially identical to the coverage
maintained by the Bank for Executive prior to his severance.  Such coverage
shall cease upon the earlier of Executive's obtaining similar coverage by
another employer or twelve (12) months from the date of Executive's termination.
In the event the Executive obtains new employment and receives less coverage for
life, health or disability, the Holding Company shall provide coverage
substantially identical to the coverage maintained by the Bank for the Executive
prior to termination for a period of twelve (12) months.

    (c)   Upon the occurrence of a Change in Control, the Executive will
have such rights as specified in the Holding Company's Incentive Stock Option
Plan or any other employee benefit plan with respect to options and such other
rights as may have been granted to Executive under such plans.

    (d)   Upon the occurrence of a Change in Control, the Executive will
be entitled to the benefits under the Bank's Management Recognition and
Retention Plans.

    (e)   On an annual basis Executive shall elect whether, in the event
amounts are payable under Sections 3(a) hereof, such amounts shall be paid in a
lump sum or on a pro rata basis pursuant to such sections.  Such election shall
be irrevocable for the year for which such election is made.

                                       4
<PAGE>

    (f)   Notwithstanding the preceding paragraphs of this Section 3, in
the event that:

    (i)   the aggregate payments or benefits to be made or afforded to
  Executive under said paragraphs (the "Termination Benefits") would be
  deemed to include an "excess parachute payment" under Section 280G of the
  Internal Revenue Code of 1986 (the "Code") or any successor thereto, and

    (ii)  if such Termination Benefits were reduced 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, and the Non-Triggering
  Amount would be greater than the aggregate value of the Termination
  Benefits (without such reduction) minus the amount of tax required to be
  paid by Executive thereon by Section 4999 of the Code, then the Termination
  Benefits shall be reduced to the Non-Triggering Amount. The allocation of
  the reduction required hereby among the Termination Benefits provided by
  the preceding paragraphs of this Section 3 shall be determined by
  Executive. In the event that Executive receives the Non-Triggering Amount
  pursuant to this paragraph (f) and it is subsequently determined by the
  Internal Revenue Service or judicial authority that Executive is deemed to
  have received an amount in excess of the Non-Triggering Amount, the Holding
  Company shall pay to Executive an amount equal to the value of the payments
  or benefits in excess of the Non-Triggering Amount he is so deemed to have
  received.

4.  NOTICE OF TERMINATION.
    ---------------------

    Any purported termination by the Holding Company 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 detail the facts and circumstances
claimed to provide a basis for termination of Executive's employment under the
provision so indicated.  "Date of Termination" shall mean the date specified in
the Notice of Termination (which, in the case of a Termination for Cause, shall
not be less than thirty (30) days from the date such Notice of Termination is
given); provided that if, within thirty (30) days after any Notice of
Termination is given, the party receiving such Notice of Termination notifies
the other party that a dispute exists concerning the termination, the date of
Termination shall be the date on which the dispute is finally determined, either
by mutual written agreement of the parties, by a binding arbitration award, or
by a final judgment, order or decree of a court of competent jurisdiction (the
time for appeal there from having expired and no appeal having been perfected)
and provided further that the Date of Termination shall be extended by a notice
of dispute only if such notice is given in good faith and the party giving such
notice pursues the resolution of such dispute with reasonable diligence.

                                       5
<PAGE>

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 Holding
Company. The Holding Company guarantees payment and provision of all amounts and
benefits due to the Executive under the Special Termination Agreement by and
between the Bank and the Executive, if any 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 Holding Company.

6.  EFFECT ON PRIOR AGREEMENT AND EXISTING BENEFIT PLANS.
    ----------------------------------------------------

    This Agreement contains the entire understanding between the parties hereto
and supersedes any prior agreement between the Holding Company 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 Holding Company and their respective successors and assigns.

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.  REINSTATEMENT OF BENEFITS UNDER BANK AGREEMENT.
    ----------------------------------------------

    In the event Executive is suspended and/or temporarily prohibited from
participating in the conduct of the Bank's affairs by a notice described in
Section 9(b) of the Special Termination Agreement between Executive and the Bank
dated April 19, 1990 (the "Bank Agreement") during the term of this Agreement
and a Change in Control, as defined herein, occurs the

                                       6
<PAGE>

Holding Company will assume its obligation to pay and the Executive will be
entitled to receive all of the termination benefits provided for under Section 3
of the Bank Agreement upon the notification of the Holding Company of the Bank's
receipt of a dismissal of charges in the Notice.

10.  EFFECT OF ACTION UNDER BANK AGREEMENT.
     -------------------------------------

     Notwithstanding any provision herein to the contrary, to the extent that
payments and benefits are paid to or received by Executive under the Special
Termination Agreement dated April 19, 1990, between Executive and Bank, such
payments and benefits paid by the Bank will be deemed to satisfy the
corresponding obligations of the Holding Company under this Agreement.

11.  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.

12.  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.

13.  GOVERNING LAW.
     -------------

     The validity, interpretation, performance, and enforcement of this
Agreement shall be governed by the laws of the State of Delaware.

14.  ARBITRATION.
     -----------

     Any dispute or controversy arising under or in connection with this
Agreement shall be settled exclusively by arbitration in accordance with the
rules of the American Arbitration Association then in effect. Judgment may be
entered on the arbitrator's award in any court having jurisdiction; provided,
however, that 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.

15.  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 Holding Company if Executive is in any material part
successful.

                                       7
<PAGE>

16.  SIGNATURES.
     ----------

     IN WITNESS WHEREOF, the Holding Company has caused this Agreement to be
executed by its duly authorized officer, and Executive has signed this
Agreement, on the 4th day of May, 1993.

ATTEST:                           MAF BANCORP, INC.

/s/ Carolyn Pihera                BY: /s/ Allen Koranda
--  ------------------------          -------------------------
Secretary                             Chief Executive Officer

WITNESS:

/s/ Mary F. Palermini                 /s/ Kenneth Rusdal
-- -----------------------              -------------------------
Seal                                  Executive

                                       8
<PAGE>

                  Amendment to Special Termination Agreement
                               of Kenneth Rusdal

The undersigned, in consideration of their mutual promises and other good and
valuable consideration, hereby agree to amend the Employment Agreement of
Kenneth Rusdal dated April 27, 1993, as amended, (the "Agreement"), as shown
below. Such amendments shall be effective as of the date shown below.

1.   Section 3(a) shall be revised to read as follows:

     Upon the occurrence of a Change in Control, followed at any time during the
term of this Agreement by the voluntary or involuntary termination of
Executive's employment, other than for Termination for Cause, the Bank and the
Holding Company shall pay Executive, or in the event of his subsequent death,
his beneficiary or beneficiaries, or his estate, as the case may be, as
severance pay or liquidated damages, or both, a sum equal to three (3) times the
average annual compensation paid to Executive for the three (3) years
immediately preceding Executive's termination. For purposes of the preceding
sentence, compensation shall include only base salary plus payments made under
the MAF Bancorp Executive Annual Incentive Plan (or such other annual cash
incentive plan in effect with respect to years ending prior to July 1, 1993). At
the discretion of Executive, upon an election pursuant to Section 3(e) hereof,
such payment may be made in a lump sum immediately upon severance of Executive's
employment or paid, on a pro rata basis, semi-monthly during the thirty-six (36)
months following Executive's termination.

IN WITNESS WHEREOF, the parties hereto have executed this Amendment effective
this December 20, 1995.

ATTEST:                          MAF BANCORP, INC.

By: /s/  Carolyn Pihera          By: /s/  Allen Koranda
    -------------------              ------------------
     Carolyn Pihera                   Allen Koranda
     Corporate Secretary              Chief Executive Officer

                                 EMPLOYEE

                                 By: /s/  Kenneth B. Rusdal
                                     ----------------------
                                     Kenneth Rusdal

<PAGE>

          Amendment to Special Termination Agreement of Kenneth Rusdal

The undersigned, in consideration of their mutual promises and other good and
valuable consideration, hereby agree to amend the Special Termination Agreement
of Kenneth Rusdal dated April 27, 1993, as amended, (the "Agreement"), as shown
below.  Such amendment shall be effective as of the date shown below.

Section 3(f) shall be revised to read as follows:

Notwithstanding the preceding paragraphs of this Section 3, in the event it
shall be determined that any payment or distribution of any type to or for the
benefit of the Executive by the Holding Company, any of its affiliates, or any
person who acquires ownership or effective control of the Holding Company or
ownership of a substantial portion of the Holding Company's assets (within the
meaning of Section 280G of the Code, and the regulations thereunder) or any
affiliate of such person, whether paid or payable or distributed or
distributable pursuant to the terms of this Agreement or otherwise (the "Total
Payments"), is subject to the excise tax imposed by Section 4999 of the Code or
any similar successor provision or any interest or penalties with respect to
such excise tax (such excise tax, together with any such interest and penalties,
are collectively referred to as the "Excise Tax"), then, except in the case of a
Deminimus Excess Amount (as described below), the Executive shall be entitled to
receive an additional payment (a "Gross-Up Payment") in an amount such that
after payment by the Executive of all taxes imposed upon the Gross-Up Payment
(including any federal, state and local income, payroll or excise taxes and any
interest or penalties imposed with respect to such taxes), the Executive retains
an amount of the Gross-Up Payment equal to the Excise Tax imposed upon the Total
Payments (not including any Gross-Up Payment).

In the event that the amount by which the present value of the Total Payments
which constitute "parachute payments" (within the meaning of Section 280G of the
Code)(the "Parachute Payments") exceeds three (3) times the Executive's "base
amount" (within the meaning of Section 280G of the Code)(the "Base Amount") is
less than 3% of the amount determined under Section 3(a) of this Agreement, such
excess shall be deemed to be a Deminimus Excess Amount and the Executive shall
not be entitled to a Gross-Up Payment.  In such an instance, the Parachute
Payments shall be reduced 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; provided that such reduction shall not be made unless
the Non-Triggering Amount would be greater than the aggregate value of the
Parachute Payments (without such reduction) minus the amount of Excise Tax
required to be paid by Executive thereon.  The reduction required hereby shall
be made by reducing the amount payable under Section 3(a) of this Agreement.

                                       1
<PAGE>

All determinations as to the portion, if any, of the Total Payments which
constitute Parachute Payments, whether a Gross-Up Payment is required, the
amount of such Gross-Up Payment, the amount of any reduction, and any amounts
relevant to the foregoing paragraphs of this Section 3(f) shall be made by an
independent accounting firm selected by the Holding Company, which may be the
accounting firm then regularly retained by the Holding Company (the "Accounting
Firm").  The Accounting Firm shall provide its determination (the
"Determination"), together with detailed supporting calculations, regarding the
amount of any Gross-Up Payment and any other relevant matter, both to the
Holding Company and the Executive, within five (5) days of a date of
termination, if applicable, or such earlier time as is requested by the Holding
Company or the Executive (if the Executive reasonably believes that any of the
Total Payments may be subject to the Excise Tax).  Any determination by the
Accounting Firm shall be binding upon the Holding Company and the Executive.  As
a result of uncertainty in the application of Sections 280G and 4999 of the Code
at the time of the initial determination by the Accounting Firm hereunder, or as
a result of a subsequent determination by the Internal Revenue Service or a
judicial authority, it is possible that the Holding Company should have made
Gross-Up Payments ("Underpayment"), or that Gross-Up Payments will have been
made by the Holding Company which should not have been made ("Overpayments").
In either such event, the Accounting Firm shall determine the amount of the
Underpayment or Overpayment that has occurred.  In the case of the Underpayment,
the amount of such Underpayment shall be promptly paid by the Holding Company to
or for the benefit of the Executive.  In the case of an Overpayment, the
Executive shall, at the direction and expense of the Holding Company, take such
steps as are reasonably necessary (including the filing of returns and claims
for refund), follow reasonable instructions from, and procedures established by,
the Holding Company, and otherwise reasonably cooperate with the Holding Company
to correct such Overpayment, including repayment of such Overpayment to the
Holding Company.

Effect of Certain Accounting Rules.  The Executive acknowledges that it is in
the Holding Company's and Bank's best interests to remain eligible to account
for any business combination into which they may become a party under the
"pooling-of-interests" method of accounting.  The Holding Company does not
believe that any provision of the foregoing Amendment to Special Termination
Agreement will affect the Holding Company's or Bank's ability to so account for
any business combination.  Due to the uncertainties associated with the
accounting rules governing the pooling-of-interests method, however, it is
possible that the provisions of this Amendment may impact the Holding Company's
or Bank's ability to use pooling-of-interests accounting for business
combinations.  Accordingly, in the event the Board of Directors determines it to
be in the best interests of the Holding Company or Bank to account for a
business combination under the pooling-of-interests method and, in the written
opinion of the Accounting Firm referred to above, if any provision of this
Amendment makes a business combination to which the Holding Company or Bank is a
party ineligible for pooling-of interests accounting under the provisions of APB
Opinion No. 16, as modified or amended, that but for such provision of this
Amendment to Special Termination Agreement would otherwise be eligible for such
accounting treatment, then the Holding Company and Executive agree that the
terms of this Amendment shall be rescinded to the extent necessary to enable the
business combination to so qualify for such accounting treatment.

                                       2
<PAGE>

IN WITNESS WHEREOF, the parties have executed this Amendment effective this
October 26, 1999.

ATTEST:                                  MAF BANCORP, INC.

By:   /s/ Carolyn Pihera                 By:  /s/ Allen Koranda
   ---------------------------------        --------------------------------
      Carolyn Pihera                          Allen Koranda
      Corporate Secretary                     Chief Executive Officer

                                         EMPLOYEE

                                         By:  /s/ Kenneth Rusdal
                                             ------------------------------
                                             Kenneth Rusdal

                                       3

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