8-K

UNITED STATES
SECURITIES and EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
Date of report (Date of earliest event reported)               November 20, 2007
FLUSHING FINANCIAL CORPORATION
(Exact name of registrant as specified in its charter)
000-24272
(Commission File Number)
DELAWARE
(State or other jurisdiction of incorporation)
11-3209278
(I.R.S. Employer Identification Number)
1979 MARCUS AVENUE, SUITE E140, LAKE SUCCESS, NEW YORK 11042
(Address of principal executive offices)
(718) 961-5400
(Registrant's telephone number, including area code)

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 (17 CFR 230.425)

( )       Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

( )       Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
            (17 CFR 240.14d-2(b))

( )       Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
            (17 CFR 240.13e-4(c))

Item 5.02    Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain
                        Officers; Compensatory Arrangements of Certain Officers.

On November 20, 2007, the boards of directors of Flushing Financial Corporation (the "Company") and its wholly owned subsidiary, Flushing Savings Bank, FSB (the "Bank"), approved a one-year extension of the existing consulting agreement with Gerard P. Tully, Sr., which agreement was scheduled to expire in the current month. Pursuant to the agreement, all other terms of which remain unchanged, Mr. Tully, in his capacity as Chairman, consults with and advises the officers of the Bank and the Company and their respective boards concerning certain business and financial affairs of the Bank and the Company. The consulting agreement terminates in the event Mr. Tully ceases to be Chairman, in which case he would be paid all compensation due to him at the time of termination, including his full monthly fee for the month in which the termination occurred without regard to the day of the month on which it occurred. In the event Mr. Tully ceases to be Chairman within three months following a "Change in Control" (as defined in the 1996 Restricted Stock Incentive Plan of Flushing Financial Corporation), he would be paid in one lump sum the amount of the aggregate fees that he would have earned if he had continued to serve until the end of the then current term of the agreement. During 2006, Mr. Tully received fees of approximately $160,000 pursuant to the consulting agreement.

Item 9.01(d).    Exhibits

10.1. Amendment to the Agreement, dated November 21, 2007.

SIGNATURE

        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 hereunto duly authorized.

		FLUSHING FINANCIAL CORPORATION
Date:   November 21, 2007	By:	/s/ David W. Fry
		David W. Fry
	Title:	Executive Vice President, Treasurer
		and Chief Financial Officer

INDEX TO EXHIBITS

Exhibit
10.1	Amendment to the Agreement,
	dated November 21, 2007.

EX-10

AMENDMENT TO THE AGREEMENT

This Amendment to the Agreement dated as of December 1, 1995 (The “Agreement”) is entered into as of December 1, 2007 between Flushing Savings Bank, FSB, (The “Bank”), Flushing Financial Corporation (the “Company”), and Gerard P. Tully, Sr. (“Mr. Tully”).

WITNESSETH:

WHEREAS, the Bank and Mr. Tully entered into the Agreement as of December 1,1995 and the Bank and Mr. Tully desire to amend the Agreement to extend the term thereof as set forth herein;

NOW, THEREFORE, for good and adequate consideration, the sufficiency of which is hereby acknowledged, the Bank and Mr. Tully agree as follows:

1. Section 1 of the Agreement as previously amended is hereby amended

by replacing the date November 30, 2007 with the date November 30, 2008.

2. The amendment set forth in paragraph 1 hereof shall be effective

December 1, 2007. Except as amended by paragraph 1 hereof, the Agreement as previously amended shall remain in effect in accordance with its terms.

IN WITNESS WHEREOF, Mr. Tully and the Bank have caused this Amendment to be executed on this 21st day of November, 2007.

	FLUSHING SAVINGS BANK, FSB
By:	John R. Buran
	President & CEO
	FLUSHING FINANCIAL CORPORATION
By	Maria A. Grasso
	Executive Vice President & COO and
	Corporate Secretary
	Gerard P. Tully, Sr.
	Gerard P. Tully, Sr.