COLUMBIA EQUITIES, LTD, A SUBSIDIARY OF OCEANFIRST BANK
This AGREEMENT is made effective as of August 18, 2000, by and among Columbia Equities, Ltd., a
subsidiary of OceanFirst Bank (the "Company"), with its principal administrative office at 150 White Plains Road,
Tarrytown, New York, and Robert M. Pardes ("Executive").
WHEREAS, the Company wishes to assure itself of the services of Executive for the period provided in this
WHEREAS, Executive is willing to serve in the employ of the Company 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:
1. POSITION AND RESPONSIBILITIES
During the period of Executive's employment under this Agreement, Executive agrees to serve as President of the
Company. Executive shall render administrative and management services to the Company such as are
customarily performed by persons situated in a similar executive capacity, and as the Board of Directors of the
Company (the "Board") and the chief executive officer of OceanFirst Bank (the "Bank") may from time to time
2. TERMS AND DUTIES
(a) The term 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
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 in
accordance with Section 8 of this Agreement. The Board will review the Agreement and Executive's performance
annually for purposes of determining whether to extend the Agreement and the rationale and results thereof shall
be included in th