This Consulting Services Agreement involves
Title: AGREEMENT TO AMEND CONSULTING AGREEMENT
Industry: SandLs/Savings Banks Sector: Financial
AGREEMENT TO AMEND CONSULTING AGREEMENT
This agreement is entered into this ___ day of December, 2006, between
___________________________ (the "Director") and PennFed Financial Services,
WHEREAS, a consulting agreement was entered into on March 1, 2003,
between the Director and PennFed (the "Consulting Agreement").
WHEREAS, in connection with the merger of PennFed into New York
Community Bancorp, Inc. ("NYCB"), it is necessary to amend the Consulting
Agreement to provide for a lump sum change in control payment in lieu of the
monthly benefit the Director would have been entitled to had the Agreement
continued absent the merger.
WHEREAS, the Director will be obligated to continue to perform services
on behalf of NYCB for the remainder of the Consulting Agreement term.
NOW THEREFORE, in consideration of the premises and mutual covenants
and conditions hereinafter set forth, the Director and PennFed agree