FIRST AMENDMENT TO FOREST CITY 401(K) EMPLOYEE SAVINGS PLAN & TRUST

Exhibit 10.17

FIRST AMENDMENT

TO

FOREST CITY 401(K) EMPLOYEE SAVINGS PLAN & TRUST

The Forest City 401(k) Employee Savings Plan & Trust, originally effective as of May 1, 1992, as presently maintained under an amendment

and restatement made effective as of January 1, 2015, is hereby amended effective as of the dates below, in the following respects:

FIRST CHANGE

Section 2.1 of the Adoption Agreement is amended effective December 31, 2015 to update the Plan Sponsor Name and EIN as follows:

2.1 PLAN SPONSOR NAME, ADDRESS, PHONE NUMBER, AND EMPLOYER IDENTIFICATION NUMBER (EIN)

Name: Forest City Employer, LLC

Address: 50 Public Square - 0000 Xxxxxxxx Xxxxx

Xxxxxxxxx, XX 00000-0000

Phone: (000) 000-0000

EIN: 00-0000000

SECOND CHANGE

Section 2.3 of the Adoption Agreement is amended effective December 31, 2015 to update the Type of Entity as follows:

2.3 TYPE OF ENTITY

a. ¨    C-corporation (including LLC taxed as a corporation)

b. ¨    Partnership (including LLP)

c. ¨    S-corporation

d. ¨    Tax exempt/not for profit

e. ý    LLC taxed as a partnership or sole proprietorship

f. ¨    Professional services corporation     

g. ¨    Professional employer organization (employee leasing organization)

h. ¨    Other: __________________________________________________________________________ (must be a legal entity recognized under federal income tax laws)

THIRD CHANGE

Section 4.2 of the Adoption Agreement is amended effective January 1, 2016 to update the Plan Name as follows:

4.2 PLAN NAME: Forest City Employer, LLC 401(k) Employee Savings Plan & Trust I

FOURTH CHANGE

Section 5.1 of the Adoption Agreement is amended effective January 1, 2016 to update the Plan Administrator as follows:

5.1 PLAN ADMINISTRATOR NAME, ADDRESS, AND TELEPHONE NUMBER

a. ¨    Plan Sponsor (use Plan Sponsor's address and telephone number)

b. ý    Use name, address and telephone number below:

Name: The Benefits Committee appointed by the Board of Directors of Forest City Realty Trust Inc.

Address: 00 Xxxxxx Xxxxxx, Xxxxx 0000

Xxxxxxxxx, XX 00000-0000

Phone:    (000) 000-0000

FIFTH CHANGE

Section 5.2 of the Adoption Agreement is amended effective January 1, 2016 to update the Investment Fiduciary as follows:

5.2 INVESTMENT FIDUCIARY NAME, ADDRESS, AND TELEPHONE NUMBER

a. ¨    Plan Sponsor (use Plan Sponsor's address and telephone number)

b. ý    Plan Administrator (use Plan Administrator's address and telephone number)

c. ¨    Use name, address and telephone number below:

Name: ______________________________________________________________________________________

Address: ______________________________________________________________________________________

______________________________________________________________________________________

Phone: ______________________________________________________________________________________

SIXTH CHANGE

Section 9.1 of the Adoption Agreement is amended effective January 1, 2016 to update Covered Employees to uncheck 9.1a.1 and instead check 9.1f.1:

9.1    COVERED EMPLOYEES INCLUDE. Subject to any exclusions selected in 9.2 below, Covered Employees include the following:

	All Contributions	Employee	Matching	Nonelective	QNEC	Safe Harbor1
a. All Employees of participating Employer	1. ¨ OR	2. ¨	3. ¨	4. ¨	5. ¨	6. ¨
b. Only hourly rate Employees	1. ¨ OR	2. ¨	3. ¨	4. ¨	5. ¨	6. ¨
c. Only salaried Employees	1. ¨ OR	2. ¨	3. ¨	4. ¨	5. ¨	6. ¨
d. Only collectively-bargained Employees (less than 50% of which are officers or executives) Name of the union(s): _____________________ _____________________	1. ¨ OR	2. ¨	3. ¨	4. ¨	5. ¨	6. ¨
e. Only PEO worksite Employees2	1. ¨ OR	2. ¨	3. ¨	4. ¨	5. ¨	6. ¨
i. Covered Employees include Employees of the Plan Sponsor	1. ¨ OR	2. ¨	3. ¨	4. ¨	5. ¨	6. ¨
f. Only the following Employees3: employees of the participating Employer whose Pay Group Codes as assigned by the Plan Administrator indicate that they are employed by legacy Forest City Enterprises, Inc.	1. ý OR	2. ¨	3. ¨	4. ¨	5. ¨	6. ¨

FINAL CHANGE

Section 9.2l of the Adoption Agreement is amended effective January 1, 2016 to read as follows:

	All Contributions	Employee	Matching	Nonelective	QNEC	Safe Harbor1
l. Other excluded Employees2: contract police, contract security personnel, temporary employees, interns, Employees of the participating Employer whose Pay Group Codes as assigned by the Plan Administrator indicate that they are employed by legacy Forest City Xxxxxx Companies, LLC, employees of FC Gowanus Associates LLC, employees of FC Yonkers Associates LLC, employees of FC Modular LLC, employees of First New York Partners LLC and employees of FCRC Services Company LLC	1. ý OR	2. ¨	3. ¨	4. ¨	5. ¨	6. ¨
	*	*	*

EXECUTED AT Cleveland, Ohio, this 18^th day of November, 2015.

Forest City Employer, LLC

By:      /s/ Xxxxxxx X. Xxxxxx

Title:    Executive Vice President