This AGREEMENT is made effective as of February 18, 2004 by and among OceanFirst Bank (the “Bank”), a federally
chartered savings institution, with its principal administrative office at 975 Hooper Avenue, Toms River, New Jersey 08753,
OceanFirst Financial Corp., a corporation organized under the laws of the State of Delaware, the holding company for the Bank
(the “Holding Company”), and Robert M. Pardes (“Executive”).
WHEREAS, the Bank wishes to assure itself of the services of Executive for the period provided in this Agreement; and
WHEREAS, Executive is willing to serve in the employ of the Bank on a full-time basis for said period.
NOW, THEREFORE, in consideration of the mutual covenants herein contained, and upon the other terms and conditions
hereinafter provided, the parties hereby agree as follows:
POSITION AND RESPONSIBILITIES.
During the period of his employment hereunder, Executive agrees to serve as Executive Vice President and Chief Lending
Officer of the Bank. Executive shall render administrative and management services to the Bank such as are customarily
performed by persons situated in a similar executive capacity. During said period, Executive also agrees to serve if elected, as an
officer and director of the Holding Company or any other subsidiary of the Bank.
TERMS AND DUTIES.
(a) The period of Executive’s employment under this Agreement shall be deemed to have commenced as of the date first
above written and shall continue for a period of thirty-six (36) full calendar months thereafter. Commencing on the first
anniversary date of this Agreement, and continuing on each anniversary thereafter, the disinterested members of the board of
directors of the Bank (“Board”) may extend the Agreement an additional year such that the remaining term of the Agreement
shall be three (3) years unless the Executive elects not to extend the term of this Agreement by giving written notice i