Document:

EX-10.11

 Exhibit 10.11 

INVESTORS SAVINGS BANK 

AMENDED AND RESTATED 

DIRECTOR RETIREMENT PLAN 

ARTICLE I. PURPOSE.  

The purpose of the Investors Savings Bank Amended and Restated Director Retirement Plan (the “Plan”) is to recognize the valuable
services provided to the Investors Savings Bank (the “Bank”) and to Investors Bancorp, Inc. (the “Company”) by their non-employee directors and to assist in attracting new members to the Bank’s Board of Directors (the
“Bank Board”) and the Company’s Board of Directors (the “Company Board”) by providing directors with retirement benefits under the terms and conditions set forth in the Plan. For purposes of this Plan, a reference to
“Board” shall refer equally to the Bank Board and the Company Board unless the context otherwise requires or the contrary is specifically set forth herein. The Plan is intended to comply with Section 409A of the Internal Revenue Code
of 1986, as amended (the “Code”) and the final regulations (“Final Regulations”) promulgated thereunder. Any Director who retired from the Bank prior to January 1, 2005 shall be subject to the terms of the Plan existing
prior to this amendment and restatement of the Plan. 
 ARTICLE II. ELIGIBILITY. 

(1) Any director (i) who is not an active employee of the Bank upon Separation from Service (as defined below) from the Board
(“active employee” shall mean an employee of the Bank as determined for purposes of the Bank’s employee benefit plans), and (ii) has provided at least ten years of cumulative periods of service, (“cumulative periods of
service” shall include all service as a director regardless of whether such director was from time to time an active employee), and (iii) has a Separation from Service on the Board: (a) on or after attaining age 65, or
(b) without the necessity of attaining age 65, retires from service on the Board as a result of permanent and total disability as determined by the Social Security Administration (“Disability”), shall be eligible to participate in the
Plan. For purposes of the Plan, “Separation from Service” shall have the meaning of such term under Final Regulation Section 1.409A-1(h)(2). Notwithstanding the foregoing, no new directors shall be admitted as participants to the Plan
after November 21, 2006. 
 (2) For the purpose of determining cumulative service, service on the board of directors of any entity
which has merged into the Bank shall be treated the same as service on the Board, and service of one or more months in a given calendar year shall be credited as full year’s service for the calendar year. In addition, any director who, prior to
becoming a director, had service to the Bank as an employee or Counsel shall be deemed to have had cumulative service, upon joining the Board, equal to his or her years of service as an employee or Counsel. For purposes of this Plan, Counsel is
defined as the representative of the designated law firm attending Board meetings and so recorded in the minutes of the Bank. In addition, service on the Bank Board shall be credited for purposes of determining service on the Company Board. 

ARTICLE III. AMOUNT OF BENEFIT.  

Each eligible director shall receive as a retirement benefit the applicable payments as follows: 

(1) Retirement with 15 Years of Service. Upon Separation from Service on or after attaining age 65, with at least fifteen years of
cumulative service, an eligible director shall be entitled to receive an annual retirement benefit equal to the sum of 60% of the base amount of (i) the annual retainer, and (ii) 13 times the regular meeting fee based on the annual
retainer and regular meeting fee in effect for the calendar year immediately preceding said director’s year of retirement. If the director also served on the Company Board, the base amount in the previous sentence shall be increased by
(i) the Company Board annual retainer, and 

 
(ii) 13 times the regular meeting fee of the Company Board based on the Company Board annual retainer and its regular meeting fee in effect for the calendar year immediately preceding said
director’s year of retirement from the Board. Notwithstanding any provision herein to the contrary, effective November 21, 2006, a director’s benefit payable under the Plan shall be computed without regard to any future increases in
directors fees or annual retainer after such date, provided, however, that a director may continue to accrue service credit under the Plan following such date. 

(2) Retirement with less than 15 Years of Service. Upon Separation from Service on or after attaining age 65, with cumulative service
less than fifteen years but greater than or equal to ten years, an eligible director shall be entitled to receive an annual retirement benefit equal to the sum of: 

(i) 40% of the sum of the base amount of (A) the annual retainer, and (B) 13 times the regular Bank Board meeting fee, based on the
annual retainer and regular meeting fee in effect for the calendar year immediately preceding said director’s year of retirement; and, if the director also served on the Company Board, the base amount shall be increased by (C) the Company
Board annual retainer, and (D) 13 times the regular meeting fee of the Company Board based on the Company Board annual retainer and its regular meeting fee in effect for the calendar year immediately preceding said director’s year of
retirement from the Board; and 
 (ii) a pro-rated percentage of 20% of the sum of the base amount of (A) the annual retainer, and
(B) 13 times the regular Bank Board meeting fee based on the annual retainer and regular meeting fee in effect for the calendar year immediately preceding said director’s year of retirement; and, if the director also served on the Company
Board, the base amount shall be increased by (C) the Company Board annual retainer, and (D) 13 times the regular meeting fee of the Company Board based on the Company Board annual retainer and its regular meeting fee in effect for the
calendar year immediately preceding said director’s year of retirement from the Board. The pro-rated percentage shall be a fraction, the numerator of which shall be the number of years of credited service in excess of ten years (up to a maximum
of five) and the denominator of which shall be five. Notwithstanding any provision herein to the contrary, effective November 21, 2006, a director’s benefit payable under the Plan shall be computed without regard to any future increases in
directors fees or annual retainer after such date, provided, however, that a director may continue to accrue service credit under the Plan following such date. 

(3) Retirement Due to Disability Prior to Age 65. Upon retirement prior to attaining age 65 as a result of Disability (as defined in
Article II hereof), an eligible director shall be entitled to receive an annual retirement benefit equal to the sum otherwise determined under Sections 1 or 2 of Article III, as applicable, based on years of cumulative service, without regard to the
Director’s age. 
 (4) Death of Director Prior to Retirement. In the event a director, otherwise eligible to retire in
accordance with the provisions of Article II, Section 1, dies prior to retirement, his or her spouse (for purposes of this Plan the term spouse shall include a domestic partner living with a director, provided the director has designated in
writing such domestic partner, such designation has not been revoked, and such domestic partner continues as the domestic partner of the director at the time of death of the director) will be entitled to receive benefit payments (the “Qualified
Preretirement Survivor Annuity”). This protection will be automatically provided with no requirement of election on the director’s part. Benefit payments to the director’s spouse will commence on the first day of the month following
the director’s death. The amount of such payments will be equivalent to the amount payable to a director’s spouse in accordance with Article IV, Option (3). 

The effect of the Qualified Preretirement Survivor Annuity will be to provide to the director’s qualified spouse an amount equal to the
amount the spouse would have received had the director retired and received a retirement benefit in the form of a 100% joint and survivor annuity, as described in Article IV, on the date of his or her death or earliest retirement age, whichever is
later. 

  
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 (5) Retirement of Director Following a Change in Control. In the event of a
director’s Separation from Service on the Board (other than due to Disability) in connection with or within two (2) years following a Change in Control, a director who has less than ten (10) years of cumulative service on the Board
will be deemed to have at least ten (10) years of cumulative service, and will be deemed to have attained age 65, for purposes of calculating a benefit hereunder. Such benefit shall then be calculated in accordance with paragraph (2) of
this Article III. Alternatively, if a director has 15 years of cumulative service or more, the director’s benefit shall be calculated in accordance with paragraph (1) of this Article III. For these purposes, a “Change in Control”
is defined as (i) a change in ownership of the Bank or the Company under paragraph (a) below, or (ii) a change in effective control of the Bank or the Company under paragraph (b) below, or (iii) a change in the ownership of
a substantial portion of the assets of the Bank or the Company under paragraph (c) below: 
 (a) Change in Ownership of
the Bank or the Company. A change in the ownership of the Bank or the Company shall occur on the date that any one person, or more than one person acting as a group (as defined in paragraph (b)), acquires ownership of stock of the corporation
that, together with stock held by such person or group, constitutes more than 50 percent of the total fair market value or total voting power of the stock of such corporation. However, if any one person or more than one person acting as a group, is
considered to own more than 50 percent of the total fair market value or total voting power of the stock of a corporation, the acquisition of additional stock by the same person or persons is not considered to cause a change in the ownership of the
corporation (or to cause a change in the effective control of the corporation (within the meaning of paragraph (b) below). An increase in the percentage of stock owned by any one person, or persons acting as a group, as a result of a
transaction in which the corporation acquires its stock in exchange for property will be treated as an acquisition of stock for purposes of this section. This paragraph (a) applies only when there is a transfer of stock of a corporation (or
issuance of stock of a corporation) and stock in such corporation remains outstanding after the transaction. 
 (b) Change
in Effective Control of the Bank or the Company. A change in the effective control of the Bank or the Company shall occur on the date that either (i) any one person, or more than one person acting as a group (as determined below), acquires
(or has acquired during the 12-month period ending on the date of the most recent acquisition by such person or persons) ownership of stock of the corporation possessing thirty percent (30%) or more of the total voting power of the stock of
such corporation; or (ii) a majority of members of the corporation’s board of directors is replaced during any 12-month period by directors whose appointment or election is not endorsed by a majority of the members of the
corporation’s board of directors prior to the date of the appointment or election, provided that for purposes of this paragraph (b)(ii), the term corporation refers solely to a corporation for which no other corporation is a majority
shareholder. In the absence of an event described in paragraph (i) or (ii), a change in the effective control of a corporation will not have occurred. If any one person, or more than one person acting as a group, is considered to effectively
control a corporation (within the meaning of this paragraph (b)), the acquisition of additional control of the corporation by the same person or persons is not considered to cause a change in the effective control of the corporation (or to cause a
change in the ownership of the corporation within the meaning of paragraph (a)). Persons will not be considered to be acting as a group solely because they purchase or own stock of the same corporation at the same time, or as a result of the same
public offering. 

  
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 (c) Change in Ownership of a Substantial Portion of the Bank’s or the
Company’s Assets. A change in the ownership of a substantial portion of the Bank’s or the Company’s assets shall occur on the date that any one person, or more than one person acting as a group (as determined below), acquires (or
has acquired during the 12-month period ending on the date of the most recent acquisition by such person or persons) assets from the corporation that have a total gross fair market value equal to or more than forty percent (40%) of the total
gross fair market value of all of the assets of the corporation immediately prior to such acquisition or acquisitions. For this purpose, gross fair market value means the value of the assets of the corporation, or the value of the assets being
disposed of, determined without regard to any liabilities associated with such assets. There is no Change in Control event under this paragraph (c) when there is a transfer to an entity that is controlled by the shareholders of the transferring
corporation immediately after the transfer. 
 Each of the sub-paragraphs (a) through (c) above shall be construed and interpreted
consistent with the requirements of Code Section 409A and the Final Regulations or other guidance issued thereunder. 
 ARTICLE IV.
MANNER OF PAYMENT. 
 (1) The retirement benefit payable upon Disability or Separation from Service (other than Separation from Service
coincident with or within two (2) years following a Change in Control) shall consist of monthly annuity payments in one of the following three optional forms that must be chosen pursuant to an irrevocable election by an eligible director in
writing on the Distribution Election Form attached hereto as Exhibit A prior to the latest of December 31, 2007, the last day of the “transition period” under Code Section 409A, or the 30th day after a director first becomes
eligible to participate in the Plan. The Distribution Election Form shall provide the director, as of the date of the election, with a fourth distribution election, effective only if the director has a Separation from Service within two years
following a Change in Control. In the event of a director’s Separation from Service within two years of a Change in Control, a director may elect to receive the director’s benefit in a single cash lump sum payment. A director’s
election under the Distribution Election Form shall be irrevocable, except as permitted by Code Section 409A. Unless otherwise set forth herein, benefit payments under the Plan shall commence within thirty (30) days after the event that
triggered such distribution. 
 (a) Option (1) - a life annuity of equal monthly payments to the retired director computed as one-twelfth of
the benefit amount prescribed in Article III hereof, with benefit payment commencing upon the first day of the month following retirement from the Board and ending with the monthly payment due on the first day of the month in which the director
dies, or, 
 (b) Option (2) - a joint and survivor form of benefit of Actuarial Equivalent value to Option (1) as of the
director’s retirement date, with benefit payment commencing at such reduced amount upon the first of the month following retirement from the Board and continuing for his or her lifetime, and payable at 50% of such reduced amount commencing on
the first day of the month following the director’s death, to the director’s spouse during the spouses lifetime, or, 
 (c) Option
(3) - a joint and survivor form of benefit of Actuarial Equivalent value to Option (1) as of the director’s retirement date, with benefit payment commencing at such reduced amount during the first of the month following retirement from the
Board and continuing for his or her lifetime, and payable at 100% of such reduced amount commencing on the first day of the month following the director’s death, to the director’s spouse during the spouse’s lifetime. 

For purposes of benefit payment Options (2) and (3), the death of the director’s spouse after benefit commencement to the director
shall not affect the reduced level of benefit payable thereafter to the director. 

  
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 (2) For purposes of this section, “Actuarial Equivalent” means a benefit or benefits
which is of equal value as a benefit or benefits otherwise payable in a different form under the Plan, when computed on the basis of mortality rates determined according to the UP-1984 Mortality Table with an effective rate of interest of 6%
compounded annually; or such other rates of interest, mortality and other actuarial components as the Bank may adopt from time to time by vote of the Board. In the event that a director retires from the Bank Board but not the Company Board or the
Company Board but not the Bank Board, the payments to such director upon retirement shall include only the amounts payable upon retirement from the applicable board and shall not include payments relating to retirement from the other board until
such actual retirement from the other board. 
 (3) Effective September 1, 1995, the rates of interest, mortality and other actuarial
components used to determine the “Actuarial Equivalent” will be the same rates of interest, mortality and other actuarial components used in administering the Investors Savings Bank Retirement Plan. 

(4) Changes in Distribution Option. 
  

	 	(i)	Notwithstanding anything herein to the contrary, a director may change his distribution option hereunder through December 31, 2007, in accordance with Sections XII(A) and XII(B) of the Preamble to the Final
Regulations issued under Code section 409A, and Section 3.02 of Internal Revenue Service Notice 2006-79; provided, however, that in 2007 a Participant cannot change payment elections with respect to payments that the Participant would otherwise
receive in 2007 or cause payments to be made in 2007. Any transition period changes shall be made on such forms as are provided by the administrator and shall be filed with the administrator during the applicable transition period.

  

	 	(ii)	In the event a director desires to modify the time or form of payment of his distribution option after December 31, 2007 with respect to payments on Separation from Service coincident with or within 2 years
following a Change in Control (i.e., from an annuity to a lump sum or vice versa), the director may do so by filing a written election with the administrator, provided that: 

 

	 	(1)	the subsequent election shall not be effective for at least 12 months after the date on which the subsequent election is made; and 

  

	 	(2)	the first payment for which the subsequent election is made shall be deferred for a period of not less than 5 years from the date on which such payment would otherwise have been made. 

 

	 	(iii)	Notwithstanding anything herein to the contrary, a director who has elected to receive a distribution in the form of a life annuity may change the form of annuity payment from one type of life annuity to another type of
life annuity, with the same scheduled date for the first annuity payment, before any annuity payment has been made under the Plan, provided that the annuities are actuarially equivalent applying reasonable actuarial methods and assumptions in
accordance with Final Regulations Section 1.409A-2(b)(2)(ii). 

 ARTICLE V. BENEFIT CONDITIONS. 

Payment of benefits under the Plan are conditioned on (i) the eligible director after retirement remaining a Director Emeritus in good
standing available with reasonable notice for consultation by the 

  
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Bank and/or the Company, as applicable, on matters pertinent to the Board’s deliberations, (ii) the eligible director after retirement not engaging in any business enterprise which
competes to a substantial degree with the Bank or the Company, without the prior written consent of the Bank, and (iii) the eligible director or his or her spouse not disclosing to anyone not legally entitled thereto any confidential
information relative to the business of the Bank. In the event of violation of any of these provisions, all future benefit payments shall he canceled and discontinued. 

ARTICLE VI. GENERAL PROVISIONS. 

(1) The right to receive any payment under the Plan shall not be transferable or assignable. 

(2) Benefit payments under the Plan shall be made from the general assets of the Bank, and the Bank shall not be required to set aside funds
for the payment of its obligations under the Plan. 
 (3) The Bank Board and the Company Board, acting jointly, may at any time amend or
terminate the Plan, provided, that no amendment or termination shall impair the rights of a director to receive upon retirement from the Bank Board or the Company Board those payments otherwise payable to said director, computed as if he or she had
chosen to retire on the day immediately preceding the date such of amendment or termination. Notwithstanding anything to the contrary herein, in the event that the Bank or Company has a Change in Control, the Bank may terminate the Plan within the
thirty (30) days preceding, but not following the Change in Control, provided that (i) all agreements, methods, programs and other arrangements sponsored by the Bank immediately after the Change in Control with respect to which deferrals
of compensation are treated as having been deferred under a single plan pursuant to Final Regulations Section 1.409A-1(c)(2), are terminated and liquidated with respect to each director that experienced such Change in Control, and (ii) all
accrued benefits payable hereunder are paid to each affected director within twelve months of the Plan’s termination. 
 (4) Nothing in
the Plan shall be deemed to create any obligation on the part of the Bank Board or the Company Board to nominate any director for re-election by the Bank or the Company. 

(5) Any questions involving entitlement to payments under the Plan shall be referred to the applicable Board for resolution. The determination
of said Board shall be conclusive as to any such questions. The Board may obtain such advice or assistance as they deem appropriate from persons not serving on the Board. 

(6) The provisions of the Plan shall be construed, administered and enforced according to the laws of the State of New Jersey. 

(7) This amendment is adopted following the enactment of Code Section 409A and the Final Regulations, and is intended to be construed
consistent with the requirements of that Section, the Final Regulations and other guidance issued thereunder. If any provision of the Plan shall be determined to be inconsistent therewith for any reason, then the Plan shall be construed, to the
maximum extent possible, to give effect to such provision in a manner consistent with Code Section 409A, and if such construction is not possible, as if such provision had never been included. In the event that any of the provisions of the Plan
or portion thereof are held to be inoperative or invalid by any court of competent jurisdiction, then (1) insofar as is reasonable, effect will be given to the intent manifested in the provisions held to be inoperative, and (2) the
invalidity and enforceability of the remaining provisions will not be affected thereby. 
 (8) The obligations of the Bank and the Company
hereunder constitute merely the promise of the Bank to make the payments provided for in this Plan. No director, his or her spouse, or the estate of either of them shall have, by reason of this Plan, any right, title or interest of any kind in or to
any property of the Bank or the Company. To the extent any director has a right to receive payments under this Plan, such right shall be no greater than the right of any unsecured general creditor of the Bank and/or the Company. 

  
 6 

 (9) Payment of Code Section 409A Taxes. Any distribution under this Plan shall be
reduced by the amount of any taxes required to be withheld from such distribution. This Plan shall permit the acceleration of the time or schedule of a payment to pay any taxes that may become due at any time that the arrangement fails to meet the
requirements of Code Section 409A and the regulations and other guidance promulgated thereunder. In the latter case, such payments shall not exceed the amount required to be included in income as the result of the failure to comply with the
requirements of Code Section 409A. 
 (10) Acceleration of Payments. Except as specifically permitted herein or in other
sections of this Plan, no acceleration of the time or schedule of any payment may be made hereunder. Notwithstanding the foregoing, payments may be accelerated hereunder by the Bank, in accordance with the provisions of Final Regulations
Section 1.409A-3(j)(4) and any subsequent guidance issued by the United States Treasury Department. Accordingly, payments may be accelerated, in accordance with requirements and conditions of the Final Regulations (or subsequent guidance) in
the following circumstances: (i) as a result of certain domestic relations orders; (ii) in compliance with ethics agreements with the Federal government; (iii) in compliance with ethics laws or conflicts of interest laws; (iv) in
limited cash-outs (but not in excess of the limit under Code Section 402(g)(1)(B)); (v) in the case of certain distributions to avoid a non-allocation year under Code Section 409(p); (vi) to apply certain offsets in satisfaction
of a debt of the director to the Bank; (vii) in satisfaction of certain bona fide disputes between the director and the Bank; or (viii) for any other purpose set forth in the Final Regulations and subsequent guidance. 

ARTICLE VII. EFFECTIVE DATE.  

The initial effective date of the Plan was October 1, 1990. Except as otherwise provided herein, the Plan is hereby amended and restated
effective as of August 21, 2007, in order to conform to the Final Regulations under Code Section 409A, and for certain other purposes. 

  
 7 

 EXHIBIT A 

INVESTORS SAVINGS BANK 

AMENDED AND RESTATED 

DIRECTOR RETIREMENT PLAN 

Distribution Election Form 

Instructions: Use this distribution election form to elect how you wish to receive your benefits from the Investors Savings Bank Amended and
Restated Director Retirement Plan. 
 Due to IRS rules, individuals who participate in the plan during 2007 must complete this form no later than
December 31, 2007 or, if later, the last day of the transition period under Code Section 409A. Any individual who first becomes eligible for the plan after December 31, 2007 must complete this form within 30 days after the date that
he or she became eligible to participate in the plan. 
  

			
	Print Name:	 	  

 I am a participant in the Investors Savings Bank Amended and Restated Director Retirement Plan (the “Plan”), which
was originally effective October 1, 1990, and which was restated effective             , 2007. The Plan provides that benefits will be paid upon my Separation from Service, Disability
or death. I understand that I may elect alternative forms of distribution under the Plan in the event of my (i) Separation from Service from the Board of Directors of Investors Savings Bank (the “Bank”) after reaching age 65,
(ii) retirement due to Disability prior to attaining age 65, or (iii) Separation from Service on or within two (2) years following a Change in Control (as defined in the Plan) of the Bank. 

I understand that if I do not elect a form of payment below, my benefits under the Plan will be paid to me in a Life Annuity and that my election
below is irrevocable. 
 Retirement Election 

Accordingly, in the event that I am entitled to benefits under the Plan upon my Separation from Service (other than due to Disability, or within two
(2) years following a Change in Control) on or after attaining age 65, I hereby elect that my benefits will be paid in the following manner (please select only one optional form of benefit): 

 

	 	 ̈	Option 1 (Life Annuity). This means payments will continue for my lifetime and when I die there are no survivor benefits. 

 

	 	 ̈	Option 2 (Joint and 50% Survivor Annuity). This means that payments continue for my lifetime and when I die, my beneficiary will receive benefits for the remainder of his or her lifetime, but the
beneficiary’s payment will be one-half the amount of the payment that I received during my lifetime. 

  

	 	 ̈	Option 3 (Joint and 100% Survivor Annuity). This means that payments will continue for the longer of my lifetime or the lifetime of my beneficiary. 

Disability Distribution Election 
 Alternatively,
in the event that I am entitled to benefits under the Plan upon my Disability (other than within two (2) years following a Change in Control) prior to my attaining age 65, I hereby elect that my benefits will be paid in the following
manner (please select only one optional form of benefit): 
  

	 	 ̈	Option 1 (Life Annuity). This means payments will continue for my lifetime and when I die there are no survivor benefits. 

 

	 	 ̈	Option 2 (Joint and 50% Survivor Annuity). This means that payments continue for my lifetime and when I die, my beneficiary will receive benefits for the remainder of his or her lifetime, but the
beneficiary’s payment will be one-half the amount of the payment that I received during my lifetime. 

  

	 	 ̈	Option 3 (Joint and 100% Survivor Annuity). This means that payments will continue for the longer of my lifetime or the lifetime of my beneficiary. 

 Change in Control Distribution Election 

Alternatively, in the event that I am entitled to benefits under the Plan upon my Separation from Service in connection with or within two (2) years
following a Change in Control (other than due to Disability), I hereby elect that my benefits will be paid in the following manner (please select only one optional form of benefit): 

 

	 	 ̈	Option 1 - The form I elected above for my Retirement Election. 

  

	 	 ̈	Option 2 - Single Cash Lump Sum. 

 I understand that none of the benefits paid from the Plan are
eligible for tax-free rollover and I will be required to pay income tax on the amounts when they are paid to me. 
  

									
	Date:	 	  
	 		 	Director’s Signature:	 	  

  
 9 

 INVESTORS SAVINGS BANK 

AMENDED AND RESTATED 

DIRECTOR RETIREMENT PLAN 

Effective as of August 21, 2007 
  

 
 Amendment
Number One 
  
  

The Investors Savings Bank Amended and Restated Director Retirement Plan, effective as of August 21, 2007 (the “Plan”) is
hereby amended in accordance with the following: 
 Effective September 19, 2011, the name “Investors Savings Bank” shall be
replaced by “Investors Bank” wherever it appears in the Plan. 
 IN WITNESS WHEREOF, this Amendment Number One has been
executed by a duly authorized officer of Investors Bank, on the date set forth below. 
  

							
		 		 	INVESTORS BANK
				
	 8/23/2011
	 		 	By:	 	 /s/ Domenick Cama

	DateEX-10.12

 Exhibit 10.12 

INVESTORS BANCORP, INC. 

DEFERRED DIRECTORS FEE PLAN 

ORIGINALLY EFFECTIVE JULY 1, 2005 

AMENDED AND RESTATED EFFECTIVE AUGUST 21, 2007 

 INVESTORS BANCORP, INC. 

AMENDED AND RESTATED 

DEFERRED DIRECTORS FEE PLAN 

WHEREAS, Investors Bancorp, Inc. (the “Company”) maintains the Investors Bancorp, Inc. Deferred Directors Fee Plan
(“Plan”) for the benefit of its non-employee directors (“Director(s)”); and 
 WHEREAS, the Directors serve the
Company as members of the Board of Directors; and 
 WHEREAS, Section 409A of the Internal Revenue Code of 1986, as amended (the
“Code”), requires that certain types of deferred compensation arrangements comply with its terms or subject the recipients of such compensation to current taxes and penalties; and 

WHEREAS, the Plan was originally effective July 1, 2005, and was drafted in a manner intended to comply with Code
Section 409A; and 
 WHEREAS, final regulations under Code Section 409A that were published on April 10, 2007, and are
generally applicable for taxable years beginning on or after January 1, 2008, provide additional rules and clarification for complying with Code Section 409A; and 

WHEREAS, the Company and the Directors desire to amend and restate the Plan effective August 21, 2007, in order to conform with
the requirements set forth in the Final Regulations under Code Section 409A, and for certain other purposes. 
 NOW, THEREFORE,
in consideration of the premises and of the mutual promises herein contained, the Company and the Directors agree as follows: 
 ARTICLE I

 DEFINITIONS 
 For the
purposes of this Plan, the following terms have the meanings indicated, unless the context clearly indicates otherwise: 
 1.1
Beneficiary. “Beneficiary” means the person or persons (and their heirs) designated as Beneficiary in a Director’s Beneficiary Designation (attached as Exhibit C) to whom the deceased Director’s benefits are payable. If no
Beneficiary is so designated, then the estate of the Director will be deemed the Beneficiary. 
 1.2 Board. “Board” means
the Board of Directors of the Company. 
 1.3 Change in Control. A “Change in Control” of the Company shall mean (1) a
change in ownership of the Company under paragraph (i) below, or (2) a change in effective control of the Company under paragraph (ii) below, or (3) a change in the ownership of a substantial portion of the assets of the Company
under paragraph (iii) below: 
  

	 	(i)	 Change in the ownership of the Company. A change in the ownership of the Company shall occur on the date that any one person, or more than one person

	 	
acting as a group (as defined in Treasury Regulation Section 1.409A-3(i)(5)(v)(B)), acquires ownership of stock of the corporation that, together with stock held by such person or group,
constitutes more than 50% of the total fair market value or total voting power of the stock of such corporation. 

  

	 	(ii)	Change in the effective control of the Company. A change in the effective control of the Company shall occur on the date that either (A) any one person, or more than one person acting as a group (as defined in
Treasury Regulation Section 1.409A-3(i)(5)(v)(B)), acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition by such person or persons) ownership of stock of the Company possessing 30% or more of the
total voting power of the stock of the Company; or (B) a majority of members of the Company’s Board of Directors is replaced during any 12-month period by directors whose appointment or election is not endorsed by a majority of the members
of the corporation’s Board of Directors prior to the date of the appointment or election, provided that this sub-section (B) is inapplicable where a majority shareholder of the Company is another corporation. 

 

	 	(iii)	Change in the ownership of a substantial portion of the Company’s assets. A change in the ownership of a substantial portion of the Company’s assets shall occur on the date that any one person, or more than
one person acting as a group (as defined in Treasury Regulation Section 1.409A-3(i)(5)(vii)(C)), acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition by such person or persons) assets from the
Company that have a total gross fair market value equal to more than 40% of the total gross fair market value of all of the assets of the Company immediately prior to such acquisition. For this purpose, gross fair market value means the value of the
assets of the corporation, or the value of the assets being disposed of, determined without regard to any liabilities associated with such assets. 

  

	 	(iv)	For all purposes hereunder, the definition of Change in Control shall be construed to be consistent with the requirements of Treasury Regulation Section 1.409A-3(i)(5), except to the extent that such regulations
are superseded by subsequent guidance. Notwithstanding anything herein to the contrary, the reorganization of the Company by way of a second step conversion shall not be considered a “Change in Control.” 

1.4 Code. “Code” means the Internal Revenue Code of 1986, as amended from time to time, and the rules and regulations
promulgated thereunder. 
 1.5 Company. “Company” means Investors Bancorp, Inc. 

1.6 Director. “Director” means a member of the Board who is not also an employee of the Company. 

1.7 Disability. “Disability” means any case in which a Director: (i) is unable to engage in any substantial gainful
activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months; or (ii) is, by reason of any medically
determinable 

  
 2 

 
physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, receiving income replacement benefits for a
period of not less than 3 months under an accident and health plan covering employees of the Director’s employer, or (iii) is determined to be totally disabled by the Social Security Administration. 

1.8 Final Regulations. “Final Regulations” means the final regulations promulgated by the Internal Revenue Service under Code
Section 409A, and any other guidance issued thereunder. 
 1.9 Plan. “Plan” means this Investors Bancorp, Inc.
Deferred Directors Fee Plan, as amended and restated effective as of August 21, 2007. 
 1.10 Separation from Service.
“Separation from Service” means, consistent with Code Section 409A(2)(a)(i), the Director’s death, retirement, or termination of service from the Board of the Company following a failure to be reappointed or reelected to the
Board. For these purposes, a Director shall not be deemed to have a Separation from Service until the Director no longer serves on the Board of the Company, or any member of a controlled group of corporations with the Company or Company within the
meaning of Treasury Regulation §1.409A-1(a)(3). A Director will not be deemed to have a Separation from Service if the Company anticipates the Director becoming an employee of the Company. 

ARTICLE II 
 PARTICIPATION AND
DEFERRAL COMMITMENTS 
 2.1 Eligibility. Eligibility to participate in the Plan shall be limited to non-employee members of the
Board of Directors of the Company. 
 2.2 Participation. Each participating Director of the Company shall have the right to elect to
defer the receipt of all or any part of the compensation to which such Director would otherwise be entitled as director’s fees or committee fees, with such deferred compensation to be payable at the time or times and in the manner herein
stated. Each new Director electing to defer the receipt of compensation shall execute and deliver to the Company an “Initial Deferral Election Form with Distribution Options,” in the form attached hereto as Exhibit A and incorporated
herein by reference. Such election shall be applicable only to compensation earned for services rendered after the date of such election. Notwithstanding the foregoing, deferral elections that were in effect on the effective date of this amendment
and restatement of the Plan shall be treated as continuing in effect until the Director makes a change to his or her election in the manner indicated below. 

2.3 Changes in Participation. An election to defer compensation shall continue in effect until revoked, provided however, that every
election to defer compensation shall be irrevocable as to compensation earned for services performed prior to the date of such revocation. Partial or complete revocation as to unearned compensation shall be made in writing in the form of Notice of
Adjustment of Deferral attached hereto as Exhibit B to be furnished by the Company and signed by the Director and shall be effective upon the January 1st of the year stated therein providing
the form is executed and delivered to the Company by December 15th of the previous calendar year. Notwithstanding anything in the Plan to the contrary, a Director who previously filed a
deferral election with the Company may elect to change his form of payment 

  
 3 

 
to another permissible form of payment (e.g., from a lump sum to installments, or vice versa) by filing with the Company a Transition Year Election Form, attached hereto as Exhibit D, provided
that such election is made by the later of December 31, 2007, or the last day of the transition period under Code Section 409A. 

2.4 Determination of Earnings. Interest on compensation deferred hereunder shall be credited and compounded monthly at a rate
equivalent to one and one-half percent (1-1/2%) below the Prime Rate as shown in The Wall Street Journal on the third Wednesday of each month. Should the third Wednesday be a holiday, the Prime Rate shown on the third Tuesday (less 1-1/2%)
shall be the rate used. 
 ARTICLE III 

PLAN BENEFITS 
 No
compensation so deferred shall be payable to a Director until the Director’s death or Disability, or other Separation from Service from office of such Director, whereupon all such deferred compensation, together with interest thereon as
hereinafter provided, shall be payable to such Director or his/her beneficiary in a single cash lump-sum payment, commencing within thirty (30) days from the Director’s date of death, termination due to Disability, or other Separation from
Service. Notwithstanding the foregoing, the Director may designate an optional installment payment method in the Initial Deferral Election Form with Distribution Options (Exhibit A) or the Transition Year Election Form (Exhibit D), as applicable, as
herein provided in which event the first such installment shall be paid commencing within thirty (30) days of the date of the event that triggered the distribution and shall be payable in approximately equal monthly installments over a period
not to exceed ten (10) years as elected by the Director. 
 ARTICLE IV 

AMENDMENT AND TERMINATION OF THE PLAN 

4.1 Amendment and Termination of the Plan. 

(a) Partial Termination. Notwithstanding anything herein contained to the contrary, the Company reserves the exclusive right to freeze
or to amend the Plan at any time with respect to compensation to be earned in the future, provided that no amendment to the Plan shall be effective to decrease or restrict the amount accrued to the date of such amendment. 

(b) Complete Termination. Subject to the requirements of Code Section 409A, in the event of complete termination of the Plan, the
Plan shall cease to operate and the Company shall pay out to each Director his benefit as if the Director had terminated service as of the effective date of the complete termination. Such complete termination of the Plan shall occur only under the
following circumstances and conditions: 
  

	 	(i)	The Board may terminate the Plan within 12 months of a corporate dissolution taxed under Code Section 331, or with approval of a Bankruptcy court pursuant to 11 U.S.C. §503(b)(1)(A), provided that the amounts
deferred under the Plan are included in the Director’s gross income in the latest of (i) the calendar year in which the Plan terminates; (ii) the calendar year in which the amount is no longer subject to a substantial risk of
forfeiture; or (iii) the first calendar year in which the payment is administratively practicable. 

  
 4 

	 	(ii)	The Board may terminate the Plan by Board action taken within the 30 days preceding a Change in Control (but not following a Change in Control), provided that the Plan shall only be treated as terminated if all
substantially similar arrangements sponsored by the Company are terminated so that the Directors and all participants under substantially similar arrangements are required to receive all amounts of compensation deferred under the terminated
arrangements within 12 months of the date of the termination of the arrangements. 

  

	 	(iii)	The Board may terminate the Plan at any time provided that (i) all arrangements sponsored by the Company that would be aggregated with this Plan under Treasury Regulations Section 1.409A-1(c) if the Director
covered by this Plan was also covered by any of those other arrangements are also terminated; (ii) no payments other than payments that would be payable under the terms of the arrangement if the termination had not occurred are made within 12
months of the termination of the arrangement; (iii) all payments are made within 24 months of the termination of the arrangements; and (iv) the Company does not adopt a new arrangement that would be aggregated with any terminated
arrangement under Treasury Regulations Section 1.409A-1(c) if the Director participated in both arrangements, at any time within three years following the date of termination of the arrangement. 

ARTICLE V 
 BENEFICIARY

 Each Director may designate one or more Beneficiaries in the Beneficiary Designation Form attached hereto as Exhibit C to receive all
sums due to such Director upon his/her death. Such Beneficiary designation may be revoked or amended by such Director, from time to time, by delivering to the Company a new Beneficiary Designation Form. In the absence of any properly completed
Beneficiary Designation Form or in the event that no designated Beneficiary shall be living at the time of the death of the Director, all deferred compensation and interest accrued to the date of death of the Director shall be payable to the
Director’s surviving spouse, or if none, to the estate of such deceased Director. 
 ARTICLE VI 

MISCELLANEOUS 
 6.1 In the
event that any person to whom compensation is distributable under the terms of this Plan shall be unable to properly manage his or her own affairs by reason of physical or mental disability, in the judgment of the management of the Company, payment
of all sums due may be made to a duly appointed personal representative, conservator or guardian, or to any person, firm or corporation furnishing or providing support and maintenance to such distributee. The Company and its officers and Directors
shall be fully and completely exonerated from all liability to any distributee upon make payment in accordance with the terms of this paragraph. 

  
 5 

 6.2 No compensation accrued or payable by virtue of the terms of this Plan shall be assignable or
transferable by any Director or any beneficiary, neither of whom shall have any right to anticipate, hypothecate, assign or transfer any rights hereunder except to a trust established by the Director for the benefit of the Director or his/her
beneficiary. 
 6.3 The terms of the Plan hereof cannot be amended, modified or supplemented, except to comply with applicable laws of the
State and Federal governments and the rules and regulations of any agency or instrumentality thereof having supervisory or regulatory jurisdiction over the Company. This Plan has been amended following the enactment of Code Section 409A and is
intended to be construed consistent with the requirements of that Section, the Final Regulations and other guidance issued thereunder. If any provision of the Plan shall be determined to be inconsistent therewith for any reason, then the Plan shall
be construed, to the maximum extent possible, to give effect to such provision in a manner consistent with Code Section 409A, and if such construction is not possible, as if such provision had never been included. In the event that any of the
provisions of the Plan or portion thereof are held to be inoperative or invalid by any court of competent jurisdiction, then (1) insofar as is reasonable, effect will be given to the intent manifested in the provisions held to be inoperative,
and (2) the invalidity and enforceability of the remaining provisions will not be affected thereby. In the event that future guidance requires additional amendments to the Plan, such amendments shall be made and applied retroactively, if
necessary. The terms hereof shall be binding upon and inure to the benefit of the successors and assigns of the Company and upon each Director so electing to defer compensation pursuant hereto and his/her beneficiary. 

6.4 Title to and beneficial ownership of any assets, which the Company may earmark to pay the deferred compensation hereunder, shall at all
times remain in the Company. The Director and his/her designated beneficiary shall not have any property interest whatsoever in any specific assets of the Company. 

6.5 The singular number used herein will include the plural number unless the context of the Plan requires otherwise. 

6.6 This Plan shall permit the acceleration of the time or schedule of a payment to pay any taxes that may become due at any time that the
arrangement fails to meet the requirements of Code Section 409A and the Final Regulations and other guidance promulgated thereunder. Such payments shall not exceed the amount required to be included in income as the result of the failure to
comply with the requirements of Code Section 409A. 
 6.7 Except as specifically permitted herein or in other sections of this Plan, no
acceleration of the time or schedule of any payment may be made hereunder. Notwithstanding the foregoing, payments may be accelerated hereunder by the Company, in accordance with the provisions of Final Regulations Section 1.409A-3(j)(4) and
any subsequent guidance issued by the United States Treasury Department. Accordingly, payments may be accelerated, in accordance with requirements and conditions of the Final Regulations (or subsequent guidance) in the following circumstances:
(i) as a result of certain domestic relations orders; (ii) in compliance with ethics agreements with the Federal government; (iii) in compliance with ethics laws or conflicts of interest laws; (iv) in limited cash-outs (but not
in excess of the limit under 

  
 6 

 
Code Section 402(g)(1)(B)); (v) in the case of certain distributions to avoid a non-allocation year under Code Section 409(p); (vi) to apply certain offsets in satisfaction of
a debt of the Director to the Company; (vii) in satisfaction of certain bona fide disputes between the Director and the Company; or (viii) for any other purpose set forth in the Final Regulations and subsequent guidance. 

  
 7 

 EXHIBIT A 

INVESTORS BANCORP, INC. 

AMENDED AND RESTATED 

DEFERRED DIRECTORS FEE PLAN 

INITIAL DEFERRAL ELECTION FORM WITH DISTRIBUTION OPTIONS 

Instructions: Use this form to elect to defer receipt of the director or committee fees that are ordinarily payable to you during the year as such
fees are earned, and to designate how you wish to receive your benefits from the Investors Bancorp, Inc. Amended and Restated Deferred Directors Fee Plan (the “Plan”). 

Individuals who first participate in the Plan during a Plan year must complete this form within 30 days after the date that he or she became eligible to
participate in the Plan. 
 ELECTION TO DEFER 

Pursuant to the provisions of the Plan, I understand that I may make an irrevocable election to defer the receipt of board fees due to me
during calendar year 200    . Accordingly, I hereby make an irrevocable election to defer     % of my board fees and/or     % of my committee fees due to me during calendar year
200    . I understand that once elected, I may not change my election to defer such board fees and/or committee fees due to me during calendar year 200    . Such deferrals shall renew annually unless changed
by me at least fifteen (15) days prior to January 1 of any year under the Plan, such changes to be effective beginning that January 1. I understand and agree that my deferral election applies only to compensation attributable to
services I have not yet performed. 
  

			
	Name of Director (Print Name):	 	  

  

			
	Date of Commencement of Deferral of Compensation:	 	  

 I understand that my election to defer receipt of director fees shall continue for subsequent years in
accordance with this Initial Deferral Election Form with Distribution Options until such time as I submit a “Notice of Adjustment of Deferral” (Exhibit B hereto) to the administrator at least fifteen (15) days prior to January 1
of any year under the Plan. Such adjustment will only take effect January 1 of the calendar year following the year in which it is executed. A Notice of Adjustment of Deferral can be used to adjust the amount of board fees and/or committee fees
to be deferred or to discontinue deferrals altogether. 
 DISTRIBUTION ELECTION OPTIONS 

In accordance with the Plan, I understand and agree that all Plan benefits shall be paid in the form I selected below, and that such election,
once made by me, shall be irrevocable with respect to such Plan year. 

  
 8 

 Separation from Service Election 

In the event that I am entitled to benefits under the Plan upon my Separation from Service (other than due to Disability), I hereby elect that my benefits will
be paid in the following manner (please select only one optional form of benefit): 

             Approximately equal monthly installments for a period of
                     years (not to exceed 10 years). 

             Lump Sum Distribution. 

Disability Election 
 In the event that I am
entitled to benefits under the Plan upon my termination of employment due to Disability, I hereby elect that my benefits will be paid in the following manner (please select only one optional form of benefit): 

             Approximately equal monthly installments for a period of
                     years (not to exceed 10 years). 

             Lump Sum Distribution. 

Death Election 
 In the event of my death prior to
my termination of employment due to Disability or other Separation from Service, I hereby elect that my benefits will be paid to my beneficiary(ies) in the following manner (please select only one optional form of
benefit): 
              Approximately equal monthly installments for
a period of                      years (not to exceed 10 years). 

             Lump Sum Distribution. 

The undersigned Director of Investors Bancorp, Inc. does hereby elect to defer compensation earned by the undersigned after the date hereof to the extent
above indicated, pursuant to the Deferred Directors Fee Plan as amended and restated effective                      2007. The undersigned
acknowledges that this election is irrevocable with respect to compensation earned and deferred prior to the date of any such revocation, but it is revocable with respect to compensation to be earned in any succeeding calendar year, in accordance
with Section 2.3 of the Plan. 
 Dated this      day of             ,
200    . 
 ATTEST: 
  

					
	  
	 		 	  

	Corporate Secretary	 		 	Director
			
		 		 	  

		 		 	Chairman/President

  
 9 

 EXHIBIT B 

INVESTORS BANCORP, INC. 

AMENDED AND RESTATED 

DEFERRED DIRECTORS FEE PLAN 

NOTICE OF ADJUSTMENT OF DEFERRAL 
 The
undersigned Director of Investors Bancorp, Inc. does hereby elect to adjust the deferral of compensation under the Investors Bancorp, Inc. Amended and Restated Deferred Directors Fee Plan as amended and restated as of
                     2007. The undersigned acknowledges that this election is only revocable with respect to compensation earned after the date of
this notice of revocation. 
  

			
	Adjust deferral as of:	  	January 1st, 20    
		
	Previous Deferral Amount	  	                     per month
	New Deferral Amount	  	                     per month
		  	(to discontinue deferral, enter $0)

 Dated this      day of             ,
200    . 
 ATTEST: 
  

					
	  
	 		 	  

	Corporate Secretary	 		 	Director
			
		 		 	  

		 		 	Chairman/President

  
 10 

 EXHIBIT C 

INVESTORS BANCORP, INC. 

AMENDED AND RESTATED 

DEFERRED DIRECTORS FEE PLAN 

BENEFICIARY DESIGNATION 
 The Director,
under the terms of the Investors Bancorp, Inc. Deferred Directors Fee Plan, as amended and restated effective                      2007, hereby
designates the following Beneficiary to receive any payments or death benefits under such Plan, following his death: 
 Beneficiary
Designation 
 Beneficiary Designation in the event Director is deceased: Name and Relationship (If more than one, indicate shares for each;
otherwise, paid equally.) 
  

	
	  

	
	  

 Contingent or Secondary Beneficiary Designation: Name and Relationship (Applicable if all the designated beneficiaries above
are not living at the time of death of the Director. If more than one, indicate shares for each; otherwise, paid equally.) 
  

	
	  

	
	  

 This Beneficiary Designation hereby revokes any prior Beneficiary Designation which may have been in effect
and this Beneficiary Designation is revocable. 
  

					
	  
	 		 	  

	Date	 		 	Director

  
 11 

 EXHIBIT D 

INVESTORS BANCORP, INC. 

AMENDED AND RESTATED 

DEFERRED DIRECTORS FEE PLAN 

TRANSITION YEAR ELECTION FORM 

Instructions: If you are a participant in the Investors Bancorp, Inc. Amended and Restated Deferred Directors Fee Plan (the “Plan”), and
you previously filed a distribution election form with Investors Bancorp, Inc. (the “Company”) in which you elected the form of benefit (e.g., lump sum, monthly installments) you will receive under the Plan, you have a limited period of
time to use this Transition Year Election Form to elect to change your previous distribution options. For example, if you previously elected to receive your Plan benefits in monthly installments upon your Separation from Service with the Company,
you may use this Transition Year Election Form to change your form of benefit to a lump sum distribution. 
 Due to IRS rules, individuals who
participate in the Plan during 2007 must complete this form no later than December 31, 2007 or, if later, the last day of the transition period under Code Section 409A. You may not use this form to change your distribution elections
with respect to payments that are scheduled to be made to you in 2007, or otherwise to cause payments to be made to you in 2007. 
  

			
	Print Name:	 	  

 I am a participant in the Investors Bancorp, Inc. Amended and Restated Deferred Directors Fee Plan, which was
originally effective July 1, 2005, and was restated effective                      2007. The Plan provides that benefits will be paid upon my
Separation from Service (as defined in the Plan), death or termination of employment due to Disability (as defined in the Plan). Internal Revenue Code Section 409A provides that I must affirmatively elect the form of payment of my nonqualified
deferred compensation benefits provided under the Plan. I previously filed an election with the Company to receive my benefits in one form of payment, and I now wish to change my distribution options by completing this Transition Year Election Form.
I understand that I may not make an election to cause payments to be made in 2007, or to change the form of payment of benefits that are scheduled to begin in 2007. 

Note: If you do not wish to change your form of payment under a previously filed Initial Deferral Election Form with Distribution Options (or
other similar election form), then you do not need to complete this Transition Year Election Form. 
 Separation from Service Election

 Accordingly, in the event that I am entitled to benefits under the Plan upon my Separation from Service (other than due to Disability), I
hereby elect that my benefits will be paid in the following manner (please select only one optional form of benefit): 

             Approximately equal monthly installments for a period of
                     years (not to exceed 10 years). 

             Lump Sum Distribution. 

  
 12 

 Disability Election 

In the event that I am entitled to benefits under the Plan upon my termination of employment due to Disability, I hereby elect that my benefits will be paid in
the following manner (please select only one optional form of benefit): 

             Approximately equal monthly installments for a period of
                     years (not to exceed 10 years). 

             Lump Sum Distribution. 

Death Election 
 In the event of my death prior to
my termination of employment due to Disability or other Separation from Service, I hereby elect that my benefits will be paid to my beneficiary(ies) in the following manner (please select only one optional form of
benefit): 
              Approximately equal monthly installments for
a period of                      years (not to exceed 10 years). 

             Lump Sum Distribution. 

I understand that none of the benefits paid from the Plan are eligible for tax-free rollover and I will be required to pay income tax on the amounts when they
are paid to me. 
  

									
	Date:	 	  
	 		 	Director’s Signature:	 	  

  
 13

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