EXHIBIT 10(iii)

                               AMENDMENT TO THE
                               MAF BANCORP, INC.
           AMENDED AND RESTATED 1993 PREMIUM PRICE STOCK OPTION PLAN
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     The MAF Bancorp, Inc. Amended and Restated 1993 Premium Price Stock Option
     Plan is hereby amended as follows:

     1.   Section 8.1(a) is amended to read:

          (a)  Price.  The purchase price per share of Common Stock deliverable
     upon the exercise of each Non-statutory Stock Option shall be (i) 133% of
     the Fair Market Value of the Common Stock on the Date of Grant of the
     option with respect to options granted to executive officers pursuant to
     Section 7(a); (ii) 110% of the Fair Market Value of the Common Stock on the
     Date of Grant of the option with respect to options granted to non-employee
     directors pursuant to Section 7(b); and (iii) not less than 100% of the
     Fair Market Value of the Common Stock on the Date of Grant of the option
     with respect to options granted to employees other than executive officers
     pursuant to Section 7(c). Shares may be purchased only upon full payment of
     the purchase price. Payment of the purchase price may be made, in whole or
     in part, in cash or through the surrender of shares of the Common Stock at
     the Fair Market Value of such shares on the date of surrender determined in
     the manner described in Section 2(j).

               As soon as practicable after receipt of full payment, the Holding
     Company shall deliver to the Participant a certificate or certificates
     representing acquired shares of Common Stock.

               Notwithstanding the foregoing, if the Option price payable with
     respect to the exercise of any Options by a Participant who has a deferral
     election in effect under the Holding Company's Stock Option Gain Deferral
     Plan (the "Gain Deferral Plan") is paid solely by surrendering Common Stock
     (which meets the requirements set forth in the Gain Deferral Plan), the
     Holding Company shall deliver to the trustee of the trust established under
     the Gain Deferral Plan, a certificate or certificates representing such
     number of shares of Common Stock determined by dividing (i) the excess of
     (A) the Fair Market Value of the shares of Common Stock purchased pursuant
     to such Option exercise, over (B) the aggregate exercise price of the
     shares of Stock purchased, by (ii) the Fair Market Value of one share of
     Common Stock. In addition, as soon as practicable after receipt of the
     shares of Common Stock representing the Option exercise price, the Holding
     Company shall deliver to the Participant a certificate or certificates
     representing shares with a Fair Market Value equal to the aggregate Option
     exercise price paid. For purposes of the foregoing, the exercise of any
     Option will be deemed to have occurred at 5:00 p.m. Central Daylight Time
     on the immediately preceding business day and Fair Market Value shall be
     determined as of such time.


     2.   Section 15 is amended in its entirety to read:

          15.  Tax Withholding.  The Holding Company may withhold, at the
          election of the Participant, from Common Stock to be issued or cash to
          be paid under the Plan, the number of shares of Common Stock having a
          Fair Market Value equal to, or cash in the amount of, or a combination
          of shares and cash equal to, the amount of tax required by any
          governmental authority to be withheld to cover any applicable
          withholding and employment taxes; provided, however, that in the event
          a deferral election is in effect with respect to the shares of Common
          Stock deliverable upon exercise of an Option, then the Participant may
          elect to have any such withholding made from the Common Stock tendered
          to exercise such Option. Alternatively, a Participant may pay to the
          Holding Company the amount of cash required to be withheld in lieu of
          any withholding of distribution under the Plan.

                                   * * * * *

     In accordance with authorizations and directions of the Board of Directors
of MAF Bancorp, Inc., the foregoing Amendment to the MAF Bancorp, Inc. Amended
and Restated 1993 Premium Price Stock Option Plan is hereby adopted effective as
of June 22, 1999, by the undersigned duly authorized officers.

                              /s/ Allen Koranda
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                              Chairman and Chief Executive Officer


/s/ Carolyn Pihera
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      Secretary

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