Document:

Exhibit

Exhibit 10.1
Execution Version

THIS AMENDMENT AND MATURITY EXTENSION AGREEMENT (this “Agreement”) dated as of December 14, 2015 is among ANADARKO PETROLEUM CORPORATION (the “Borrower”), JPMORGAN CHASE BANK, N.A., as administrative agent (in such capacity, together with its successors in such capacity, the “Administrative Agent”) for the lenders party to the Credit Agreement referred to below, each of the existing lenders under the Credit Agreement and signatory hereto that shall continue to be lenders thereunder pursuant to the terms hereof (the “Continuing Lenders”).  Each capitalized term used herein but not otherwise defined herein has the meaning given such term in the Credit Agreement.  
R E C I T A L S
A.    The Borrower, the Administrative Agent and the Lenders party thereto are parties to that certain Revolving Credit Agreement dated as of June 17, 2014 (as heretofore amended, supplemented or otherwise modified, the “Credit Agreement”), pursuant to which the Lenders have made certain loans to and extensions of credit for the account of the Borrower.
B.    The Borrower has heretofore requested pursuant to Section 2.18 of the Credit Agreement that the Maturity Date be extended by one year from January 23, 2020 to January 23, 2021 (the “Maturity Extension”).  
C.    The Borrower, each Swingline Lender, and each of the other Lenders party hereto have agreed, pursuant to Section 9.02(b) of the Credit Agreement, to make certain amendments to the Credit Agreement (the “Amendments”) relating to the Borrowing of Swingline Loans, in each case, as more fully set forth herein.
D.    NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
SECTION 1.    Reallocation of Commitments; Extension of Maturity Date.  Effective as of the Effective Date (as defined in Section 4 hereof), the Maturity Date applicable to each Continuing Lender party hereto shall be January 23, 2021.  Each party hereto hereby waives any timing, notice or other similar requirement pursuant to Sections 2.18(a) of the Credit Agreement required in connection with the Maturity Extension.
SECTION 2.    Agreements.  Each Continuing Lender party hereto hereby agrees that (a) it will, independently and without reliance on the Administrative Agent or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Credit Agreement, and (b) it will perform in accordance with the terms of the Credit Agreement, all of the obligations which by the terms of the Credit Agreement are required to be performed by it as a Lender to the extent of its Commitment.
SECTION 3.    Amendments to Credit Agreement.  From and after the Effective Date, the Credit Agreement is hereby amended as follows:
(a)    Section 1.01 of the Credit Agreement is hereby amended by adding the following new defined terms thereto in correct alphabetical order:
“Swingline Commitment” means (a) with respect to each of JPMorgan Bank, N.A. and Wells Fargo Bank, National Association, each as a Swingline Lender, $100,000,000 or (b) if 

such Lender has entered into an Assignment and Assumption, the amount set forth for such Lender as its Swingline Commitment in the Register maintained by the Administrative Agent pursuant to Section 9.04(b)(iii).
“Total Revolving Credit Exposure” means, the sum of the outstanding principal amount of all Lenders’ Revolving Loans, their L/C Exposure and their Swingline Exposure at such time; provided that clause (a) of the definition of Swingline Exposure shall only be applicable to the extent Lenders shall have funded their respective participations in the outstanding Swingline Loans.

(b)    The definition of “Majority Lenders” set forth in Section 1.01 of the Credit Agreement is hereby amended by adding the following proviso to the end of the first sentence thereof:
“; provided that for purposes of declaring the Loans to be due and payable pursuant to Article VII, and for all purposes after the Loans become due and payable pursuant to Article VII or the Commitments expire or terminate, then, as to each Lender, clause (a) of the definition of Swingline Exposure shall only be applicable for purposes of determining its Revolving Credit Exposure to the extent such Lender shall have funded its participation in the outstanding Swingline Loans”.
(c)    The definition of “Swingline Exposure” set forth in Section 1.01 of the Credit Agreement is hereby amended and restated in its entirety as follows:
“Swingline Exposure” means, at any time, the aggregate Principal Amount of all Swingline Loans outstanding at such time. The Swingline Exposure of any Lender at any time shall be the sum of (a) its Applicable Percentage of the total Swingline Exposure at such time other than with respect to any Swingline Loans made by such Lender in its capacity as a Swingline Lender and (b) the aggregate principal amount of all Swingline Loans made by such Lender as a Swingline Lender outstanding at such time (less the amount of participations funded by the other Lenders in such Swingline Loans), in each case, adjusted to give effect to any reallocation under Section 2.21 of the Swingline Exposures of Defaulting Lenders in effect at such     time.
(d)    Section 2.02(a) of the Credit Agreement is hereby amended by the  following language to the end of the first proviso contained therein:
“and the proceeds of any such Borrowing shall be applied by the Administrative Agent to repay any Swingline Loans then outstanding”.
(e)    Section 2.20(a) of the Credit Agreement is hereby amended by:

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(i)    replacing clause (iii) thereof in its entirety with the following:
“(iii) the aggregate Principal Amount of outstanding Swingline Loans made by such Swingline Lender exceeding such Swingline Lender’s Swingline Commitment”.
(ii)    replacing the “or” appearing immediately prior to clause (iii) in the first sentence thereof with a “,” and
(iii)    adding the following new language immediately after the end of clause (iii) and immediately prior to the proviso contained in the first sentence thereof:  
“or (iv) such Swingline Lender’s Revolving Credit Exposure exceeding its Commitment”.
(f)    Section 2.20(b) of the Credit Agreement is hereby amended by:
(i)    replacing the reference to “the relevant Swingline Lender” contained in the third sentence thereof with a reference to “the Swingline Lenders”; and
(ii)    replacing the final sentence thereof in its entirety with the following:
“Each Swingline Lender shall make its ratable portion of the requested Swingline Loan (such ratable portion to be calculated based upon such Swingline Lender’s Swingline Commitment to the total Swingline Commitments of all Swingline Lenders) available to the Borrower by means of a credit to the general deposit account of the Borrower with such Swingline Lender (or, in the case of a Swingline Loan made to finance the reimbursement of an LC Disbursement as provided in Section 2.0 (e), by remittance to the relevant Issuing Bank) by 4:00 p.m., New York City time, on the requested date of such Swingline Loan.  It is understood and agreed that the failure of any Swingline Lender to make its ratable portion of a Swingline Loan shall not relieve any other Swingline Lender of its obligation hereunder to make its ratable portion of such Swingline Loan on the date of such Swingline Loan, but no Swingline Lender shall be responsible for the failure of any other Swingline Lender to make the ratable portion of a Swingline Loan to be made by such other Swingline Lender on the date of any Swingline Loan.”.
(g)    Section 2.21(c)(i) of the Credit Agreement is hereby amended and restated in its entirety as follows:
“(i) all or any part of the Swingline Exposure and LC Exposure of such Defaulting Lender (other than the portion of such Swingline Exposure referred to in clause (b) of the definition of such term) shall be reallocated among the non-Defaulting Lenders in accordance with their respective Applicable Percentages but only to the extent that (x) the sum of all non-

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Defaulting Lenders' Revolving Credit Exposures plus such Defaulting Lender's Swingline Exposure and LC Exposure does not exceed the total of all non-Defaulting Lenders' Commitments and (y) such reallocation does not, as to any non-Defaulting Lender, cause such non-Defaulting Lender’s Revolving Credit Exposure to exceed its Commitments;”.
(h)    Each reference to “total Revolving Credit Exposures” contained in Sections 2.01(a)(i)(B), 2.01(a)(ii)(B), 2.05(b)(ii), 2.05(j), 2.06, 2.08(a) and 2.20(a)(ii) of the Credit Agreement is replaced, in each case, with a reference to “Total Revolving Credit     Exposures”. 
SECTION 4.    Effectiveness.  This Agreement shall become effective on the date upon which each of the following conditions has been satisfied (the “Effective Date”):
(a)    The Administrative Agent shall have has received counterparts of this Agreement duly executed on behalf of each Continuing Lender (which shall include, in any event, counterparts from the Majority Lenders (determined immediately prior to the Effective Date)) and the Borrower; 
(b)    The Borrower shall have delivered to the Administrative Agent, a certificate of the Borrower dated as of the Effective Date and executed by a responsible officer of the Borrower, (i) certifying and attaching the resolutions adopted by the Borrower approving or consenting to the Maturity Extension and (ii) certifying that, (x) before and after giving effect to the Maturity Extension, the representations and warranties contained in Article III of the Credit Agreement are true and correct on and as of the Effective Date, except to the extent such representations and warranties specifically refer to an earlier date (in which case, the Borrower shall certify that the such representations and warranties were true and correct on and as of such earlier date), (y) before and after giving effect to the Maturity Extension and the Amendments, no Default or Event of Default exists or will exist, and (z) no Material Adverse Change has occurred or is continuing; and
(c)    The Borrower shall have paid to the Administrative Agent, for the account of each Continuing Lender, a fee (the “Extension Fee”) in an amount equal to 0.04% of the Commitments extended by such Continuing Lender pursuant to this Agreement.
SECTION 5.    Effect of Amendment.  
(a)    On and after the Effective Date, each reference in the Credit Agreement to “this Agreement”, “hereunder”, “hereof” or words of like import referring to the Credit Agreement shall mean and be a reference to the Credit Agreement, as amended by this     Agreement.
(b)    The Credit Agreement and each of the other Loan Documents, as specifically amended by this Agreement, are and shall continue to be in full force and effect and are hereby in all respects ratified and confirmed.
(c)    The execution, delivery and effectiveness of this Agreement shall not, except as expressly provided herein, operate as a waiver of any right, power or remedy of any Lender or the Administrative Agent under any of the Loan Documents, not constitute a waiver of

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any provision of any of the Loan Documents. On and after the Effective Date, this Agreement shall for all purposes constitute a Loan Document.
SECTION 6.    Counterparts.  This Agreement may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract.  Delivery of an executed counterpart of a signature page of this Agreement by facsimile or other electronic image scan transmission shall be as effective as delivery of a manually executed counterpart of this Agreement.
SECTION 7.    Governing Law; Jurisdiction.  THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK AND EACH BORROWER HEREBY IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE NONEXCLUSIVE JURISDICTION OF THE SUPREME COURT OF THE STATE OF NEW YORK SITTING IN NEW YORK COUNTY AND OF THE UNITED STATES DISTRICT COURT OF THE SOUTHERN DISTRICT OF NEW YORK SITTING IN NEW YORK COUNTY, AND ANY APPELLATE COURT FROM ANY THEREOF, IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT, OR FOR THE RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT, AND EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW YORK STATE OR, TO THE EXTENT PERMITTED BY LAW, IN SUCH FEDERAL COURT.  EACH OF THE PARTIES HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW.  NOTHING IN THIS AGREEMENT SHALL AFFECT ANY RIGHT THAT THE ADMINISTRATIVE AGENT OR ANY LENDER MAY OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS AGREEMENT AGAINST ANY BORROWER OR ITS PROPERTIES IN THE COURTS OF ANY JURISDICTION.
SECTION 8.    Severability.  In case any one or more of the provisions contained in this Agreement should be held invalid, illegal or unenforceable in any respect, none of the parties hereto shall be required to comply with such provision for so long as such provision is held to be invalid, illegal or unenforceable, but the validity, legality and enforceability of the remaining provisions contained herein and in the Credit Agreement shall not in any way be affected or impaired.  The parties hereto shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions.
SECTION 9.    Notices.  All communications and notices hereunder shall be in writing and given as provided in Section 9.01 of the Credit Agreement.
 [Signature Pages Follow]

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IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the date first written above.

	
			
	 
	ANADARKO PETROLEUM CORPORATION

	 
	 
	 

	 
	By:
	/s/ Albert L. Richey

	 
	 
	Name: Albert L. Richey

	 
	 
	Title: Senior Vice President, Finance and Treasurer

[Signature Page to Anadarko Amendment and Maturity Extension Agreement (5-Year Facility)]

	
			
	Administrative Agent,
Continuing Lender and 
Swingline Lender:
	JPMORGAN CHASE BANK, N.A.

	 
	 
	 

	 
	By:
	/s/ Dave Katz

	 
	 
	Name: Dave Katz

	 
	 
	Title: Executive Director

[Signature Page to Anadarko Amendment and Maturity Extension Agreement (5-Year Facility)]

	
			
	Continuing Lender and 
Swingline Lender:
	WELLS FARGO BANK, NATIONAL ASSOCIATION

	 
	 
	 

	 
	By:
	/s/ Borden Tennant

	 
	 
	Name: Borden Tennant

	 
	 
	Title: Assistant Vice President

[Signature Page to Anadarko Amendment and Maturity Extension Agreement (5-Year Facility)]

    
	
			
	Continuing Lender:
	BANK OF AMERICA, N.A.

	 
	 
	 

	 
	By:
	/s/ Kenneth Phelan

	 
	 
	Name: Kenneth Phelan

	 
	 
	Title: Vice President

[Signature Page to Anadarko Amendment and Maturity Extension Agreement (5-Year Facility)]

	
			
	Continuing Lender:
	CITIBANK, N.A.

	 
	 
	 

	 
	By:
	/s/ Maureen Maroney

	 
	 
	Name: Maureen Maroney

	 
	 
	Title: Vice President

[Signature Page to Anadarko Amendment and Maturity Extension Agreement (5-Year Facility)]

        	
			
	 
	THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.

	 
	 
	 

	 
	By:
	/s/ Sherwin Brandford

	 
	 
	Name: Sherwin Brandford

	 
	 
	Title: Director

[Signature Page to Anadarko Amendment and Maturity Extension Agreement (5-Year Facility)]

	
			
	Continuing Lender:
	Mizuho Bank, LTD

	 
	 
	 

	 
	By:
	/s/ Leon Mo

	 
	 
	Name: Leon Mo

	 
	 
	Title: Authorized Signatory

	 
	 
	 

	 
	By:
	 

	 
	 
	Name:

	 
	 
	Title:

[Signature Page to Anadarko Amendment and Maturity Extension Agreement (5-Year Facility)]

	
			
	Continuing Lender:
	BARCLAYS BANK PLC

	 
	 
	 

	 
	By:
	/s/ Vanessa Kurbatskiy

	 
	 
	Name: Vanessa Kurbatskiy

	 
	 
	Title: Vice President

    

[Signature Page to Anadarko Amendment and Maturity Extension Agreement (5-Year Facility)]

	
			
	Continuing Lender:
	BNP Paribas

	 
	 
	 

	 
	By:
	/s/ Sriram Chandrasekaran

	 
	 
	Name: Sriram Chandrasekaran

	 
	 
	Title: Director

	 
	 
	 

	 
	By:
	/s/ Juan Carlos Sandoval

	 
	 
	Name: Juan Carlos Sandoval

	 
	 
	Title: Director

[Signature Page to Anadarko Amendment and Maturity Extension Agreement (5-Year Facility)]

	
			
	Continuing Lender:
	CREDIT AGRICOLE CORPORAT AND INVESTMENT BANK

	 
	 
	 

	 
	By:
	/s/ Dennis Petito

	 
	 
	Name: Dennis Petito

	 
	 
	Title: Managing Director

	 
	 
	 

	 
	By:
	/s/ Michael Willis

	 
	 
	Name: Michael Willis

	 
	 
	Title: Managing Director

[Signature Page to Anadarko Amendment and Maturity Extension Agreement (5-Year Facility)]

	
			
	Continuing Lender:
	Credit Suisse AG, Cayman Islands Branch

	 
	 
	 

	 
	By:
	/s/ Nupur Kumar

	 
	 
	Name: Nupur Kumar

	 
	 
	Title: Authorized Signatory

	 
	 
	 

	 
	By:
	/s/ Stefan Dickenmann

	 
	 
	Name: Stefan Dickenmann

	 
	 
	Title: Authorized Signatory

[Signature Page to Anadarko Amendment and Maturity Extension Agreement (5-Year Facility)]

	
			
	Continuing Lender:
	Deutsche Bank AG New York Branch

	 
	 
	 

	 
	By:
	/s/ Ming K. Chu

	 
	 
	Name: Ming K. Chu

	 
	 
	Title: Vice President

	 
	 
	 

	 
	By:
	/s/ Heidi Sandquist

	 
	 
	Name: Heidi Sandquist

	 
	 
	Title: Director

[Signature Page to Anadarko Amendment and Maturity Extension Agreement (5-Year Facility)]

	
			
	Continuing Lender:
	DNB CAPITAL LLC

	 
	 
	 

	 
	By:
	/s/ Robert Dupree

	 
	 
	Name: Robert Dupree

	 
	 
	Title: Senior Vice President

	 
	 
	 

	 
	By:
	/s/ Joe Hykle

	 
	 
	Name: Joe Hykle

	 
	 
	Title: Senior Vice President

[Signature Page to Anadarko Amendment and Maturity Extension Agreement (5-Year Facility)]

	
			
	Continuing Lender:
	GOLDMAN SACHS BANK USA

	 
	 
	 

	 
	By:
	/s/ Rebecca Kratz

	 
	 
	Name: Rebecca Kratz

	 
	 
	Title: Authorized Signatory

[Signature Page to Anadarko Amendment and Maturity Extension Agreement (5-Year Facility)]

	
			
	Continuing Lender:
	Morgan Stanley Bank, N.A.

	 
	 
	 

	 
	By:
	/s/ Michael King

	 
	 
	Name: Michael King

	 
	 
	Title: Authorized Signatory

[Signature Page to Anadarko Amendment and Maturity Extension Agreement (5-Year Facility)]

	
			
	Continuing Lender:
	SOCIETE GENERALE

	 
	 
	 

	 
	By:
	/s/ Diego Medina

	 
	 
	Name: Diego Medina

	 
	 
	Title: Director

[Signature Page to Anadarko Amendment and Maturity Extension Agreement (5-Year Facility)]

	
			
	Continuing Lender:
	Standard Chartered Bank

	 
	 
	 

	 
	By:
	/s/ Rodrigo Gonzalez

	 
	 
	Name: Rodrigo Gonzalez

	 
	 
	Title: Executive Director
Capital Markets

[Signature Page to Anadarko Amendment and Maturity Extension Agreement (5-Year Facility)]

	
			
	Continuing Lender:
	Sumitomo Mitsui Banking Corporation

	 
	 
	 

	 
	By:
	/s/ Katsuyuki Kubo

	 
	 
	Name: Katsuyuki Kubo

	 
	 
	Title: Managing Director

[Signature Page to Anadarko Amendment and Maturity Extension Agreement (5-Year Facility)]

	
			
	Continuing Lender:
	The Bank of Nova Scotia

	 
	 
	 

	 
	By:
	/s/ J. Frazell

	 
	 
	Name: J. Frazell

	 
	 
	Title: Director

[Signature Page to Anadarko Amendment and Maturity Extension Agreement (5-Year Facility)]

	
			
	Continuing Lender:
	UBS AG, Stamford Branch

	 
	 
	 

	 
	By:
	/s/ Craig Pearson

	 
	 
	Name: Craig Pearson

	 
	 
	Title: Associate Director

	 
	 
	 

	 
	By:
	/s/ Houssem Daly

	 
	 
	Name: Houssem Daly

	 
	 
	Title: Associate Director

[Signature Page to Anadarko Amendment and Maturity Extension Agreement (5-Year Facility)]

	
			
	Continuing Lender:
	THE STANDARD BANK OF SOUTH AFRICA LIMITED

	 
	 
	 

	 
	By:
	/s/ Pablo Gonzalez-Spahr

	 
	 
	Name: Pablo Gonzalez-Spahr

	 
	 
	Title: Executive

[Signature Page to Anadarko Amendment and Maturity Extension Agreement (5-Year Facility)]

	
			
	Continuing Lender:
	THE BANK OF NEW YORK MELLON

	 
	 
	 

	 
	By:
	/s/ Hussam S. Alsahlani

	 
	 
	Name: Hussam S. Alsahlani

	 
	 
	Title: Vice President

[Signature Page to Anadarko Amendment and Maturity Extension Agreement (5-Year Facility)]Exhibit

Exhibit 10.1

	
	
	                                                     

2016 Management Cash Incentive Plan

2016 Management Cash Incentive Plan (MIP)	
					
	 
	 
	 
	 
	 

Introduction and Objectives

Northfield Bancorp, Inc.’s (A Delaware Corporation) “Northfield” 2016 Management Cash Incentive Plan (the “MIP” or the “Plan”) is designed to motivate, recognize, and reward designated management team members, within appropriate risk management objectives, for their collective contributions to Northfield Bancorp, Inc. and its subsidiaries (the “Company” or the “Bank”).  The Plan focuses on measures that are critical to the Company’s longer-term growth and profitability.  The MIP serves as a critical component of a competitive total compensation package that enables the Company to attract and retain talent needed to drive the Company’s future success.  This MIP is governed by all terms and conditions of the Northfield Management Cash Incentive Plan approved by the Company’s stockholders on May 28, 2014 (the “Governing Plan”), which shall be the prevailing document if the terms and conditions detailed below are unclear or in contradiction to such plan.

Objectives of the plan include:

		
	•
	Align management compensation with Company performance.

		
	•
	Provide clear focus on key strategic business objectives.

		
	•
	Position the Company’s total cash compensation to be competitive with market. 

		
	•
	Enable the Company to attract and retain the talent needed to drive success.

		
	•
	Motivate and reward management for achieving/exceeding performance goals.

		
	•
	Encourage teamwork across the Company’s operating groups.

		
	•
	Balance performance goals and incentives with appropriate risk management objectives.

Eligibility/Participation

		
	•
	Eligibility will be limited to key members of management and key employees.  Participants will be nominated by management and approved by the Compensation Committee.  Unless specifically approved by the Compensation Committee, the Offices of the Chief Risk Officer and Chief Audit Officer are not eligible to participate in the Corporate performance incentive awards.  Incentive awards will be based on individual goals for these employees with goals and final incentive awards to be approved by the Board Committees that the individual reports to.

		
	•
	New employees must be hired by July 1 to participate in that year’s incentive.  Incentive awards for employees hired between January 1 and July 1 will be pro-rated based on the employee’s date of hire (i.e., base salary actually earned in the year).  Participants must maintain a satisfactory level of performance to be eligible for an incentive award.

		
	•
	Participants must be an active employee as of the award payout date to receive an award, unless they are out on disability, in which case they will receive a pro-rata award. 

Performance Period
The performance period and plan operate on a calendar year basis (January 1, 2016- December 31, 2016). 

Performance Gate/Trigger
In order for the incentive plan to activate, Northfield must achieve at least 80% of budgeted net income.  If the Company does not achieve this level of performance, the MIP will not fund awards (corporate or individual) for participants that year.  The Committee, and the respective Board Committees as it relates to the Offices of the Chief Risk Officer and Chief Audit Officer, will retain discretion, at all times, to recommend individual discretionary bonuses.

Incentive Award Opportunity
Each participant will have a target cash incentive opportunity that is expressed as a percentage of base salary.  Cash incentive awards are based, in part, on the Company’s philosophy to target total cash compensation at approximately the 65th percentile of market for executive management.  The 2016 incentive cash targets consider market practice and the Company’s current base salary levels.  For 2016, participants, as detailed by title below, will have an opportunity to earn a target award as a percentage of base salary for meeting defined goals.  The Actual payouts can range from 0% (for not meeting any performance goals) to up to 150% of target for exceeding all performance goals.

Achieving performance goals will generally result in a full target award.  Actual payouts will vary above and below the target incentive to reflect actual performance relative to the goals and weights.  The Compensation Committee retains the discretion to determine awards relative to goals and may consider other factors in making the award (e.g. extraordinary events).

The total incentive opportunity and range is summarized below.  These are subject to change based on market practice, internal Company practices, and compensation philosophy.

	
					
	 
	Annual Incentive as a % of Base Salary
(in future years these targets may change and be different by tier)

	Positions
	Below Threshold
	Threshold Performance
	Target Performance
	Stretch
Performance

	CEO
	0%
	20%
	40%
	60%

	Pres./COO
	0%
	20%
	40%
	60%

	EVP
	0%
	15%
	30%
	45%

	SVP
	0%
	12.5%-15%
	25-30%
	37.5%-45%

Incentive Plan Measures

For 2016, the Compensation Committee will determine the Corporate performance goal(s) in conformity with the Governing Plan.  A significant portion of all participants’ incentive will be based on our overall corporate performance.  This approach supports our desire to foster a collaborative team-oriented culture among our senior leadership team.  The Compensation Committee, at its sole discretion, may determine to exclude from actual 2016 performance results, items that are considered non-recurring in nature, and not suitable for consideration in measuring financial performance.  In addition to corporate performance, individual/division performance goals will also be considered.  By considering multiple performance goals and perspectives, our plan supports our goal to provide a balanced and reasonable approach to risk management.

Below is a summary of the weighting of awards based on Corporate and Individual/Division Goals:    

	
			
	Role
	Corporate Performance
	Individual/Division Performance

	CEO
	100%
	0%

	Pres./COO
	100%
	0%

	EVP
	70%
	30%

	SVP (Individual percentages to be determined by the CEO)
	0% - 100%
	0% - 100%

Goal Setting

The Corporate Performance goal(s) will be recommended by the Compensation Committee as part of the Board’s annual business planning process, and approved by the Board of Directors.  The Compensation Committee will approve the performance range and weights associated with the Corporate Performance goals. 

The Compensation Committee, at its discretion, may define goals that have a defined threshold, target and stretch performance and payout range.  The relationship between performance goals and payout ranges will be determined by the Compensation Committee.  Once threshold performance is achieved, the award will increase incrementally.  Actual payouts between threshold, target, and stretch will be prorated between levels to reward incremental performance

Individual/Division goals will be developed and recommended by management and approved by the Compensation Committee and the respective Board Committees, as it relates to the Offices of the Chief Risk Officer and Chief Audit Officer, at the beginning of the year.  Generally, Individual goals should be limited to no more than three goals that reflect critical financial and strategic goals.  Each individual goal is at a target payout.  However, where possible, individual goals should also define a threshold and stretch level which will correspond to the appropriate payout in the table immediately above.  Such goals will help clarify potential pay-performance relationship.  In recognition that some individual goals may not be quantitative, the Compensation Committee and the respective Board Committees as it relates to the Offices of the Chief Risk Officer and Chief Audit Officer, retains the discretion to determine payouts in a manner that appropriately reflects performance.  However, such discretion does not apply to a payout that is intended to be qualified performance based compensation under Internal Revenue Code Section 162(m).  

Award Payouts and Discretion of the Compensation Committee

Payouts relative to the target will be recommended by management (except for the CEO), approved by the Compensation Committee and the respective Board Committees as it relates to the Offices of the Chief Risk Officer and Chief Audit Officer, and ratified by the Board of Directors.  In the case of the CEO, the payout will be determined by the Compensation Committee and ratified by the Board of Directors.

Payouts will be made in cash as soon as possible after year-end.  Generally, payouts will occur within two and a half months following the close of the fiscal year.  Awards are calculated based on actual performance relative to target.  Payouts will be based on percentage of base salary earnings (actual earnings) for the year.  This will allow for ease of calculation of incentives to reflect participants who work a partial year or part time hours.

All award payouts under the Plan are subject to the discretion of the Compensation Committee and the respective Board Committees as it relates to the Offices of the Chief Risk Officer and Chief Audit Officer.  In determining an award level (both corporate awards and individual awards) consideration may be given to the overall performance of the Company and each individual’s performance and may include, but are not limited to, consideration of audit and regulatory findings, internal control assessments and the amount and direction of risk being assumed by the Company.

Plan Terms and Conditions 
Plan Authorization 
The Plan is authorized by the Board of Directors of the Company and administered by the Compensation Committee. 
Program Changes or Discontinuance
The Company has developed this plan based on current objectives and business conditions.  The Plan was developed based on existing business, market and economic conditions; current services; and staff assignments.  If substantial 

changes occur that affect these conditions, services, assignments, or forecasts, the Company may add to, amend, modify, or discontinue any of the terms or conditions of the Plan at any time.
Compensation Committee Discretion
The Compensation Committee may, at its sole discretion, waive, change, or amend the Plan as it deems appropriate.
The Committee and the respective Board Committees, as it relates to the Offices of the Chief Risk Officer and Chief Audit Officer may, at its sole discretion increase or decrease an award based upon its consideration of a Plan participant’s performance or achievements. 
Termination of Employment 
If a Plan participant leaves or is terminated by the Company before awards are paid, no incentive award will be paid.  Participants must be an active employee of the Company on the date the incentive is paid to receive an award.  (See exceptions for death, disability, and retirement below.)  
Disability or Death or Retirement
If a participant is disabled by an accident or illness, his/her bonus award for the Plan period will be prorated so that the award is based on the period of active employment only (i.e. the award will be reduced by the period of time of disability).  
In the event of death, the Company will pay to the participant’s estate the pro rata portion of the award that had been earned by the participant as of the date of death.
Employees who retire will be paid a pro-rata award based on the period of active employment only.  Retirement is defined by terms consistent with the Company’s retirement plan.
No award will be earned on a pro-rata basis for disability, death, or retirement if such an event occurs within six months from the beginning of the Plan year.
Payments made in the event of death, disability or retirement will be made at the same time payment is made to active employees under the Plan.
Ethics and Interpretation
If there is any ambiguity as to the meaning of any terms or provisions of this Plan or any questions as to the correct interpretation of any information contained therein, the Company’s interpretation expressed by the Compensation Committee will be final and binding.
The altering, inflating, and/or inappropriate manipulation of performance/financial results or any other infraction of recognized ethical business standards, will subject the employee to disciplinary action up to and including termination of employment.  In addition, any incentive compensation as provided by the Plan to which the employee would otherwise be entitled will be revoked.
Recoupment of Awards

Participants of this Plan agree that the Company has the right to recoup or “clawback” awards paid under this Plan if the Compensation Committee concludes that such awards were based on information that was later found to be materially incorrect, including awards that were determined, in whole or in part, on financial statement information that is subsequently restated.  Participants of the Plan agree that such recoupment would be made in accordance with prevailing laws and regulations.

Miscellaneous 
The Plan will not be deemed to give any participant the right to be retained in the employ of the Company nor will the Plan interfere with the right of the Company to discharge any participant at any time.  
The Compensation Committee will determine on at least an annual basis, those employees of Northfield Bancorp, Inc. and its consolidated subsidiaries that will be eligible to participate in the Plan.
In the absence of an authorized, written employment contract, the relationship between employees and the Company is one of at-will employment.  The Plan does not alter the relationship.  The Plan will not supersede any specific employment contract obligations the Company may have with a Plan participant.
This Plan and the transactions and payments hereunder shall, in all respect, be governed by, and construed and enforced in accordance with applicable governmental laws and regulations.
Each provision in this Plan is severable, and if any provision is held to be invalid, illegal, or unenforceable, the validity, legality, and enforceability of the remaining provisions shall not, in any way, be affected or impaired thereby.

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