Document:

c50461_ex10-4.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing

EXHIBIT 10.4

AMENDMENT TO

 

ASTORIA FEDERAL SAVINGS AND
LOAN ASSOCIATION 

AMENDED AND
RESTATED 

EMPLOYMENT AGREEMENT WITH EXECUTIVE
OFFICER

     This Amendment to the Amended
and Restated Employment Agreement (the “Restated Employment Agreement”)
entered into as of January 1, 2000 by and between Astoria Federal Savings and
Loan Association, a savings association organized and operation under the federal
laws of the United States (the
 “Association”) and Monte N. Redman (the  “Executive”) is
 entered into as of August 15, 2007. 

WITNESSETH:

     WHEREAS, the Association and Executive have previously entered into the Restated Employment
Agreement which remains in full force and effect; and 

     
WHEREAS, the Association has realigned its executive management staff; and

     WHEREAS, prior to such realignment the Executive
served as Executive Vice President and Chief Financial Officer; and 

     WHEREAS, following such realignment Executive has agreed to continue to serve as President and
Chief Operating Officer; and 

     WHEREAS, the Board of Directors of the Association has determined that it is in the best
interests of the shareholders of the Association to rescind the Association’s mandatory retirement policy for executive officers; 

     NOW THEREFORE, in consideration of the premises and the mutual covenants and conditions hereinafter set forth, the Association and Executive hereby agree to amend the Restated Employment Agreement as follows from and
after the date hereof: 

	     	
A)      		
Section 3. Duties. of the Restated Employment Agreement is amended to replace the title Executive Vice President and Chief Financial Officer with the title
President and Chief Operating Officer where it appears in such Section.

	
	 
	 	
B)      		
Section 4. Cash Compensation.
    of the Restated Employment Agreement is amended 

	
	 

Page 1 of 4 

	     	 	
to replace the salary set forth in such Section
    from an initial annual rate of Four Hundred Ten Thousand Dollars ($410,000)
    to an initial annual rate of Eight Hundred Thousand Dollars ($800,000)
    which the Association and Executive acknowledge is Executive’s current
    rate of annual salary.

	
	 
	 	
C)      		
Section 9. Termination of Employment with Severance Benefits. of the Restated Employment Agreement is amended by amending Section 9(a)(i)(A) by replacing
the title Executive Vice President and Chief Financial Officer with the title President and Chief Operating Officer where it appears in Section 9(a)(i)(A).

	
	 
	 	
D)      		
Section 9. Termination of Employment with Severance Benefits. and Section 17. Notices. of the
Restated Employment Agreement are amended by amending Section 9(b) and Section 17 to provide that the address of Thacher Proffitt & Wood is Two World Financial Center, New York, New York 10281.

	
	 
	 	
E)      		
Section 10. Termination without Additional Association Liability. of the Restated Employment Agreement is amended by deleting Section 10(a)(v).

	
	 
	 	
F)      		
Section 30. Compliance with Section 409A of the Code. is added to the Restated Employment Agreement to state as follows:

	
	 	 	 
	 	 	Section 30. Compliance
    with Section 409A of the Code.
	 	 	 
	 	 	In the event that this
      Agreement is construed to be a non-qualified deferred compensation plan
    described in section 
	 	409A of the Code, the
      Agreement shall be operated, administered and construed so as to conform
      to the requirements of section 409A. 

Page 2 of 4 

	     	
G)      		
The Restated Employment Agreement is in all other respects confirmed and ratified and the Restated Employment Agreement, as amended by this amendment remains in full force and effect.

	
	 

     IN WITNESS WHEREOF, the Association has caused this Amendment to be executed and Executive has hereunto set his hand, all as the
15th day of August 2007. 

	Attest: 	 	ASTORIA FEDERAL SAVINGS AND LOAN

    ASSOCIATION      

 

	/S/
        Alan P. Eggleston 	 	By: 	/S/
        George L. Engelke, Jr.
	Alan P. Eggleston 	 	Name: 	 George L. Engelke, Jr.
	 	 	Title: 	Chairman and Chief Executive Officer 
	 
	[Seal] 	 	 	 
	 
	 
	 
	 	 	/S/
        Monte N. Redman 
	 	 	Monte N. Redman 

Page 3 of 4 

	STATE OF NEW YORK 	) 
	 
	 	) 
	SS.: 

	COUNTY OF NASSAU 	) 
	 

     On this 15th day of August 2007, before me, the undersigned, personally appeared George L. Engelke, Jr., personally known to me or proved to me on the basis of satisfactory evidence to be the
individual(s) whose name(s) is (are) subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their capacity(ies), and that by his/her/their signature(s) on the instrument, the individual(s), or the
person upon behalf of which the individual(s) acted, executed the instrument. 

	 	 	/S/
        Marygrace Farruggia 
	 	 	          Notary
          Public 

	 	 	Marygrace Farruggia 
	 	 	Notary Public, State of
        New York 
	 	 	No. 4998931 
	 	 	Qualified in Suffolk County 
	 	 	Commission Expires 7/13/2010 

	STATE OF NEW YORK 	) 
	 
	 	) 
	SS.: 

	COUNTY OF NASSAU 	) 
	 

     On this 15th day of August 2007, before me, the undersigned, personally appeared Monte N. Redman, personally known to me or proved to me
on the basis of satisfactory evidence to be the individual(s) whose name(s) is (are) subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their capacity(ies), and that by his/her/their signature(s)
on the instrument, the individual(s), or the person upon behalf of which the individual(s) acted, executed the instrument. 

 

	 	 	/S/
        Marygrace Farruggia 
	 	 	          Notary
          Public 

	 	 	Marygrace Farruggia 
	 	 	Notary Public, State of
        New York 
	 	 	No. 4998931 
	 	 	Qualified in Suffolk County 
	 	 	Commission Expires 7/13/2010 

Page 4 of 4c50461_ex10-5.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing

EXHIBIT 10.5

AMENDMENT TO 

ASTORIA FINANCIAL CORPORATION 

AMENDED AND RESTATED 

EMPLOYMENT AGREEMENT WITH EXECUTIVE
OFFICER

     This Amendment to the Amended and Restated Employment Agreement (the “Restated Employment Agreement”) entered into as of January 1, 2000 by and between Astoria Financial Corporation, a business corporation organized and operation under the laws of the State of Delaware (the “Company”) and Alan P. Eggleston (the “Executive”) is entered into as of August 15, 2007. 

WITNESSETH:

     WHEREAS, the Company and Executive have previously entered into the Restated Employment
Agreement which remains in full force and effect; and 

     
WHEREAS, the Company has realigned its executive management staff; and

     WHEREAS, prior to such realignment the Executive
served as Executive Vice President, Secretary and General Counsel; and

     WHEREAS, following such realignment Executive has agreed to continue to serve as Executive
Vice President, Secretary and General Counsel; and 

     WHEREAS, the Board of Directors of the Company has determined that it is in the best interests
of the shareholders of the Company to rescind the Company’s mandatory retirement policy for executive officers; 

     NOW THEREFORE, in consideration of the premises and the mutual covenants and conditions hereinafter set forth, the Company and Executive hereby agree to amend the Restated Employment Agreement as follows from and after
the date hereof: 

	     	
A)      		
Section 3. Duties. of the Restated Employment Agreement is amended to replace the title Executive Vice President and General Counsel with the title
Executive Vice President, Secretary and General Counsel where it appears in such Section.

	
	 
	 	
B)      		
Section 4. Cash Compensation.
    of the Restated Employment Agreement is amended to replace the salary set
    forth in such Section from an initial annual rate of Two 

	
	 

Page 1 of 4

	     	 	
Hundred Seventy Five Thousand Dollars ($275,000)
    to an initial annual rate of Four Hundred Forty Five Thousand Dollars ($445,000)
    which the Company and Executive acknowledge is Executive’s current rate
    of annual salary.

	
	 
	 	
C)      		
Section 9. Termination of Employment with Severance Benefits. of the Restated Employment Agreement is amended by amending Section 9(a)(i)(A) by replacing
the title Executive Vice President and General Counsel with the title Executive Vice President, Secretary and General Counsel where it appears in Section 9(a)(i)(A).

	
	 
	 	
D)      		
Section 9. Termination of Employment with Severance Benefits. and Section 18. Notices. of the
Restated Employment Agreement are amended by amending Section 9(b) and Section 18 to provide that the address of Thacher Proffitt & Wood is Two World Financial Center, New York, New York 10281.

	
	 
	 	
E)      		
Section 10. Termination without Additional Company Liability. of the Restated Employment Agreement is amended by deleting Section 10(a)(v).

	
	 
	 	
F)      		
Section 33. Compliance with Section 409A of the Code. is added to the Restated Employment Agreement to state as follows:

	
	 	 	 
	 	 	Section 33. Compliance
    with Section 409A of the Code.
	 	 	 
	 	 	In the event that this
      Agreement is construed to be a non-qualified deferred compensation plan
    described in section
	 	409A of the Code, the Agreement shall be operated, administered
    and construed so as to conform to the requirements of section 409A. 

Page 2 of 4

	     	
G)      		
The Restated Employment Agreement is in all other respects confirmed and ratified and the Restated Employment Agreement, as amended by this amendment remains in full force and effect.

	
	 

     IN WITNESS WHEREOF, the Company has caused this Amendment to be executed and Executive has hereunto set his hand, all as the 15th day of August 2007. 

	Attest: 	 	ASTORIA FINANCIAL CORPORATION 

 

	/S/
        Arnold K. Greenberg	 	By: 	/S/
        George L. Engelke, Jr. 
	Arnold K. Greenberg	 	Name: 	 George L. Engelke, Jr. 
	 	 	Title: 	Chairman and Chief Executive Officer
	 
	[Seal] 	 	 	 
	 
	 
	 
	 	 	/S/
        Alan P. Eggleston
	 	 	Alan P. Eggleston

Page 3 of 4

	STATE OF NEW YORK 	) 
	 
	 	) 
	SS.: 

	COUNTY OF NASSAU 	) 
	 

     On this 15th day of August 2007, before me, the undersigned, personally appeared George L. Engelke, Jr., personally known to me or proved to me on the basis of satisfactory evidence to be the
individual(s) whose name(s) is (are) subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their capacity(ies), and that by his/her/their signature(s) on the instrument, the individual(s), or the
person upon behalf of which the individual(s) acted, executed the instrument. 

	 	 	/S/
        Marygrace Farruggia 
	 	 	          Notary
          Public 

	 	 	Marygrace Farruggia 
	 	 	Notary Public, State of
        New York 
	 	 	No. 4998931 
	 	 	Qualified in Suffolk County 
	 	 	Commission Expires 7/13/2010 

	STATE OF NEW YORK 	) 
	 
	 	) 
	SS.: 

	COUNTY OF NASSAU 	) 
	 

     On this 15th day of August 2007, before me, the undersigned, personally appeared Alan P. Eggleston, personally known to me or proved to
me on the basis of satisfactory evidence to be the individual(s) whose name(s) is (are) subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their capacity(ies), and that by his/her/their
signature(s) on the instrument, the individual(s), or the person upon behalf of which the individual(s) acted, executed the instrument. 

	 	 	/S/
        Marygrace Farruggia 
	 	 	          Notary
          Public 

	 	 	Marygrace Farruggia 
	 	 	Notary Public, State of
        New York 
	 	 	No. 4998931 
	 	 	Qualified in Suffolk County 
	 	 	Commission Expires 7/13/2010 

Page 4 of 4

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