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E XHIBIT 10.6
A MENDMENT TO
A STORIA F
EDERAL S AVINGS
AND L OAN A
SSOCIATION
A MENDED AND
R ESTATED
E MPLOYMENT A
GREEMENT WITH
E XECUTIVE O
FFICER
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 Alan P. Eggleston (the
“Executive”) is entered into as of August 15,
2007.
W ITNESSETH :
W HEREAS ,
the Association and Executive have previously
entered into the Restated Employment Agreement which remains in
full force and effect; and
W HEREAS ,
the Association has realigned its executive
management staff; and
W HEREAS ,
prior to such realignment the Executive served
as Executive Vice President, Secretary and General Counsel;
and
W HEREAS ,
following such realignment Executive has agreed
to continue to serve as Executive Vice President, Secretary and
General Counsel; and
W HEREAS ,
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;
N OW
T HEREFORE ,
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:
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A)
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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.
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B)
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Section 4. Cash Compensation . of the
Restated Employment Agreement is amended
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to replace the salary set forth
in such Section from an initial annual rate of Two Hundred Seventy
Five Thousand Dollars ($275,000) to an initial annual rate of Four
Hundred Forty Five Thousand Dollars ($445,000) which the
Association and Executive acknowledge is Executive’s current
rate of annual salary.
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C)
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Section 9. Termination of
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