Pennfed Financial Services Inc Sample Contracts

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EXHIBIT 10.17 -------------
Consulting Agreement • February 9th, 2007 • Pennfed Financial Services Inc • Savings institution, federally chartered
SPECIAL ---------------
401(k) Plan Adoption Agreement • March 9th, 1998 • Pennfed Financial Services Inc • Savings institution, federally chartered • New York
AMENDED AND RESTATED EMPLOYMENT AGREEMENT
Employment Agreement • September 15th, 2004 • Pennfed Financial Services Inc • Savings institution, federally chartered • New Jersey

THIS EMPLOYMENT AGREEMENT was initially made and entered into as of this 28th day of November, 2000 by and between PennFed Financial Services, Inc. (the "Company") and Patrick D. McTernan (the "Employee").

RETENTION AGREEMENT
Retention Agreement • November 8th, 2006 • Pennfed Financial Services Inc • Savings institution, federally chartered • New York

This Retention Agreement (the “Agreement”) is made and entered into on November 2, 2006 (but effective at the time specified in Section 1 below) by and between New York Community Bank (the “Bank”) and Joseph L. LaMonica, an individual (the “Employee”).

NONCOMPETlTION AGREEMENT
Noncompetition Agreement • November 8th, 2006 • Pennfed Financial Services Inc • Savings institution, federally chartered • New York

This Noncompetition Agreement (the “Agreement”) is entered into as of November 2, 2006 (but effective immediately following the consummation of the Merger (as such term is defined below) by and between New York Community Bancorp, Inc. (“NYB”) and Joseph L. LaMonica (the “Employee”).

November 2, 2006 Patrick D. McTernan West Orange, NJ 07052-2989 Dear Mr. McTernan:
Merger Agreement • November 8th, 2006 • Pennfed Financial Services Inc • Savings institution, federally chartered • New York

In connection with the anticipated merger (the “Merger”) of PennFed Financial Services, Inc. (the “Company”) with and into New York Community Bancorp, Inc. (“NYB”) as contemplated by the Agreement and Plan of Merger, dated as of November 2, 2006, by and between NYB and the Company (the “Merger Agreement”), which is entered into as of today, the Company, NYB and you hereby enter into this agreement (this “Agreement”). Capitalized terms used but not otherwise defined in this Agreement shall have the meaning set forth in the Merger Agreement.

November 2, 2006 Claire M. Chadwick West Orange, NJ 07052-2989 Dear Ms. Chadwick:
Merger Agreement • November 8th, 2006 • Pennfed Financial Services Inc • Savings institution, federally chartered • New York

In connection with the anticipated merger (the “Merger”) of PennFed Financial Services, Inc. (the “Company”) with and into New York Community Bancorp, Inc. (“NYB”) as contemplated by the Agreement and Plan of Merger, dated as of November 2, 2006, by and between NYB and the Company (the “Merger Agreement”), which is entered into as of today, the Company, NYB and you hereby enter into this agreement (this “Agreement”). Capitalized terms used but not otherwise defined in this Agreement shall have the meaning set forth in the Merger Agreement.

November 2, 2006 Maria F. Magurno West Orange, NJ 07052-2989 Dear Ms. Magurno:
Merger Agreement • November 8th, 2006 • Pennfed Financial Services Inc • Savings institution, federally chartered • New York

In connection with the anticipated merger (the “Merger”) of PennFed Financial Services, Inc. (the “Company”) with and into New York Community Bancorp, Inc. (“NYB”) as contemplated by the Agreement and Plan of Merger, dated as of November 2, 2006, by and between NYB and the Company (the “Merger Agreement”), which is entered into as of today, the Company, NYB and you hereby enter into this agreement (this “Agreement”). Capitalized terms used but not otherwise defined in this Agreement shall have the meaning set forth in the Merger Agreement.

AMENDMENT NO. FIVE TO THE STOCKHOLDER PROTECTION RIGHTS AGREEMENT dated as of March 21, 1996 between PENNFED FINANCIAL SERVICES, INC. and REGISTRAR AND TRANSFER COMPANY as Rights Agent
Stockholder Protection Rights Agreement • November 8th, 2006 • Pennfed Financial Services Inc • Savings institution, federally chartered

WHEREAS, the purpose of this document (this “Amendment”) is to amend the Stockholder Protection Rights Agreement between PennFed Financial Services, Inc., a Maryland corporation, as successor by merger to PennFed Financial Services, Inc., a Delaware corporation, and Registrar and Transfer Company, as Rights Agent (the “Rights Agreement”); and

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