SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20552
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
July 18, 2005
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Date of Report (Date of earliest event reported)
KEARNY FINANCIAL CORP.
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(Exact name of Registrant as specified in its Charter)
United States 0-51093 22-3803741
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(State or other jurisdiction (File No.) (IRS Employer
of incorporation) Identification Number)
120 Passaic Avenue, Fairfield, New Jersey 07004
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (973) 244-4500
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Not Applicable
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(Former name or former address, if changed since last Report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act
KEARNY FINANCIAL CORP.
INFORMATION TO BE INCLUDED IN REPORT
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ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
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On July 18, 2005, Kearny Federal Savings Bank (the "Bank") entered into an
employment agreement with Mr. Craig L. Montanaro, a Senior Vice President of the
Bank. The Bank is a wholly-owned subsidiary of the Registrant.
In accordance with this agreement, Mr. Montanaro's base salary is $156,000.
The agreement has a term of twenty-four months and provides for an annual
extension of the term of the agreement upon determination of the Board of
Directors that the executive's performance has met the requirements and
standards of the Board. If the Bank terminates Mr. Montanaro without "cause"as
defined in the agreement, he will be entitled to a continuation of his salary
from the date of termination through the remaining term of the agreement. Mr.
Montanaro's employment agreement provides that if Mr. Montanaro's employment is
terminated without cause within twenty-four months following a change in
control, he will be paid an amount equal to 2.0 times his most recent calendar
year total compensation paid and accrued.
A copy of the employment agreement is included with this Form 8-K as an
exhibit.
ITEM 9.01 FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
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Exhibit Description
Number -----------
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10.1 Employment Agreement between Kearny Federal Savings Bank
and Craig L. Montanaro
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this Report to be signed on its behalf by the
undersigned, thereunto duly authorized.
KEARNY FINANCIAL CORP.
Date: July 21, 2005 By: /s/ John N. Hopkins
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John N. Hopkins
President and Chief Executive Officer