EMPLOYMENT SEPARATION AGREEMENT AND RELEASE OF CLAIMSEmployment Separation • June 7th, 2019 • Oceanfirst Financial Corp • Savings institution, federally chartered • New Jersey
This Employment Separation Agreement and Release of Claims (“Separation Agreement”) is entered into by and among Joseph R. Iantosca (“you”) and OceanFirst Financial Corp. (the “Company”) and OceanFirst Bank, N.A. (the “Bank”), and confirms the agreement that has been reached with you in connection with your termination of employment with the Bank and all of the Bank’s affiliates and direct and indirect subsidiaries. The terms of this Separation Agreement are effective immediately upon execution of this Agreement by all parties except that Sections 2(a)-(c), 3 and 4 of this Agreement shall be effective only if (a) you re-execute this Separation Agreement on the space provided at the end of this Separation Agreement on or after the Separation Date; and (b) you do not revoke your re-execution of this Agreement as set forth in Section 10. This means, among other things, that the severance payments and benefits set forth in Sections 2(a)-(c) are conditioned on your re-execution and non-revo
