Amendment to Agreement Regarding Post-Employment Restrictive Covenants between MAF Bancorp, Inc., Mid America Bank, fsb, and David C. Burba
This amendment updates the agreement between MAF Bancorp, Inc., Mid America Bank, fsb, and David C. Burba concerning post-employment restrictions. Under the revised terms, Mr. Burba will receive a lump sum payment of $360,000 in exchange for his commitments under the agreement. The payment will be made by April 15, 2004, and will be subject to standard tax withholdings.
Exhibit 10(i)
Exhibit 10(i) – Amendment to Agreement Regarding Post-Employment Restrictive Covenants between MAF Bancorp, Inc., Mid America Bank, fsb and David C. Burba
Section 7 shall be revised to read as follows:
7. Payments to Executive. In consideration of Executive’s agreements hereunder, MAF shall pay, or shall cause the Bank or one of its affiliates to pay to Executive, a lump sum payment of $360,000. The payment will be made on or prior to April 15, 2004 and will be subject to applicable withholding requirements.
IN WITNESS WHEREOF, the parties have executed this Amendment effective this 23rd day of March 2004.
| MAF BANCORP, INC. | ||
| By: | /s/ Allen Koranda | |
| Its: | Chairman of the Board and | |
| Chief Executive Officer | ||
| MID AMERICA BANK, fsb | ||
| By: | /s/ Michael J. Janssen | |
| Its: | Senior Vice President | |
| EXECUTIVE |
| /s/ David C. Burba |
| David C. Burba |
