Document:

FIRST SAVINGS BANK
                              EMPLOYMENT AGREEMENT

      This  AGREEMENT  ("Agreement"),  originally  entered  into on November 20,
1996, is amended and restated, effective as of November 15, 2000 (the "Effective
Date"),  by and between  First  Savings Bank (the  "Institution"),  a New Jersey
chartered  savings  bank,  with its  principal  administrative  offices  at 1000
Woodbridge Center Drive,  Woodbridge,  New Jersey 07095, First Sentinel Bancorp,
Inc.  (the  "Holding  Company"),  a  corporation  organized  under  the  laws of
Delaware, and Christopher Martin ("Executive").

      WHEREAS,  the  Institution  wishes to  continue  to  assure  itself of the
services of Executive for the period provided in this Agreement; and

      WHEREAS,  Executive  is willing to  continue to serve in the employ of the
Institution  and its  subsidiaries  on a  full-time  basis  for the term of this
Agreement.

      NOW, THEREFORE, in consideration of the mutual covenants herein contained,
and upon the other terms and conditions hereinafter provided, the parties hereby
agree as follows:

1.    POSITION AND RESPONSIBILITIES.

      During  the  period  of  Executive's   employment  under  this  Agreement,
Executive agrees to serve as Executive Vice President,  Chief Operating  Officer
and  Chief  Financial  Officer  of  the  Institution.   Executive  shall  render
administrative   and  management   services  to  the  Institution  such  as  are
customarily  performed by persons in a similar  executive  capacity.  During the
term of this  Agreement,  Executive  also  agrees to serve as a director  of the
Institution.

2.    TERMS.

      (a)   The period of Executive's  employment  under this Agreement shall be
deemed to have  commenced as of the date first written above and shall  continue
for a period of thirty-six  (36) full calendar months from the Effective Date of
this Agreement, as amended and restated.  Commencing on the date of execution of
this  Agreement,  the term of this Agreement  shall be extended for one day each
day, so that a constant  thirty-six  (36)  calendar  month term shall  remain in
effect,  until  such  time as the Board of  Directors  of the  Institution  (the
"Board") or Executive  elects not to extend the term of the  Agreement by giving
written  notice  to the  other  party  in  accordance  with  Section  8 of  this
Agreement, in which case the term of this Agreement shall be fixed and shall end
on the third anniversary of the date of such written notice.

      (b)   During the period of Executive's  employment  hereunder,  except for
periods of absence occasioned by illness,  vacation, and other reasonable leaves
of absence,  Executive  shall devote  substantially  all of his  business  time,
attention,  skill,

<PAGE>

and efforts to the  faithful  performance  of his duties  under this  Agreement,
including  activities and services  related to the  organization,  operation and
management  of  the  Institution   and  its  direct  or  indirect   subsidiaries
("Subsidiaries")   and   participation   in   industry,   community   and  civic
organizations;   provided,  however,  that,  with  Board  notification  of  said
participation,  from time to time, Executive may serve, or continue to serve, on
the  boards  of  directors  of,  and hold any other  offices  or  positions  in,
companies or organizations, which, in the Board's judgment, will not present any
conflict of interest with the  Institution  or its  Subsidiaries,  or materially
affect the performance of Executive's duties pursuant to this Agreement.

      (c)   Notwithstanding  anything herein  contained to the contrary,  either
Executive or the  Institution  may  terminate  Executive's  employment  with the
Institution at any time during the term of this Agreement,  subject to the terms
and conditions of this Agreement.

3.    COMPENSATION AND REIMBURSEMENT.

      (a)   The  compensation  specified under this Agreement  shall  constitute
consideration  paid by the  Institution in exchange for the duties  described in
Section  1  of  this  Agreement.   The  Institution  shall  pay  Executive,   as
compensation,  a salary of not less than $250,000 ("Base  Salary").  Base Salary
shall  include  any amounts of  compensation  deferred  by  Executive  under any
tax-qualified   retirement  or  welfare  benefit  plan  or  any  other  deferred
compensation arrangement maintained by the Institution or its Subsidiaries. Base
Salary shall be payable in accordance  with the normal payroll  practices of the
Institution. During the period of this Agreement,  Executive's Base Salary shall
be  reviewed at least  annually;  on or about the first of January of each year.
Such  review  shall be  conducted  by the Board or by a  committee  of the Board
delegated  such  responsibility  by the Board.  The Board or the  committee  may
increase  Executive's Base Salary at any time. Any increase in Base Salary shall
thereafter become the new "Base Salary" for purposes of this Agreement.

      (b)   Executive  shall be entitled to participate in any employee  benefit
plans,  arrangements and perquisites  substantially equivalent to those in which
Executive was participating or otherwise deriving benefit from immediately prior
to the beginning of the term of this Agreement, as amended and restated, and the
Institution and its  Subsidiaries  will not, without  Executive's  prior written
consent,  make any changes in such plans,  arrangements  or perquisites  (or any
plans,  arrangements or perquisites  with respect to which  Executive  begins to
participate  at any time  during  the term of this  Agreement,  as  amended  and
restated)  which  would  adversely   affect   Executive's   rights  or  benefits
thereunder,  without  separately  providing  for  an  arrangement  that  ensures
Executive  receives or will  receive the  economic  value that  Executive  would
otherwise lose as a result of such adverse affect, unless such change is general
in nature and applies in a nondiscriminatory  manner to all employees covered by
the plan,  arrangement  or  perquisite.  Without  limiting the generality of the
foregoing  provisions of this  Subsection  (b),  Executive  shall be entitled to
participate in and receive  benefits under any employee benefit plans including,
but not  limited to,  retirement  plans  (such

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<PAGE>

as pension,  profit sharing and employee stock  ownership  plans),  supplemental
retirement  plans,  incentive  plans,  health  and  welfare  plans and any other
employee  benefit plan or arrangement  made available by the  Institution or its
Subsidiaries  now or in the future to full-time  employees of the Institution or
its Subsidiaries  and/or senior  executives and key management  employees of the
Institution or its  Subsidiaries,  subject to and on a basis consistent with the
terms,  conditions and overall  administration  of such plans and  arrangements.
Nothing paid to Executive under any such plans or arrangements will be deemed to
be in lieu of other  compensation  and benefits to which  Executive is otherwise
entitled under this Agreement.

      (c)   The Institution shall pay or reimburse  Executive for all reasonable
expenses  incurred  by  Executive  in  performing  his  obligations  under  this
Agreement.

4.    PAYMENTS TO EXECUTIVE UPON AN EVENT OF TERMINATION.

      (a)   Upon the occurrence of an Event of Termination  (as herein  defined)
during  Executive's term of employment  under this Agreement,  the provisions of
this Section 4 shall apply. As used in this Agreement, an "Event of Termination"
shall mean and include any one or more of the following:  (i) the termination by
the  Institution of Executive's  full-time  employment  hereunder for any reason
other  than  termination  governed  by  Section  5(a)  of  this  Agreement,   or
Termination for Cause, as defined in Section 7 of this Agreement,  or Retirement
or  Disability,  as  defined  in  paragraph  (f)  of  this  Section  4 or;  (ii)
Executive's  resignation from the Institution's  employ, upon, any (A) notice to
Executive by the Institution of non-renewal of the term of this  Agreement,  (B)
failure to re-elect or re-appoint  Executive as Executive Vice President,  Chief
Operating Officer and Chief Financial Officer of the Institution or a failure to
nominate or re-elect  Executive to the Board of  Directors  of the  Institution,
unless  Executive  otherwise  consents,   (C)  material  change  in  Executive's
function,  duties, or responsibilities with the Institution,  which change would
cause Executive's position to become one of lesser  responsibility,  importance,
or scope from the position and attributes thereof described in Section 1 of this
Agreement (and any such material change shall be deemed as continuing  breach of
this  Agreement),   unless  Executive  otherwise  consents,  (D)  relocation  of
Executive's  principal  place  of  employment  by more  than 25  miles  from its
location at the effective date of this Agreement,  (E) material reduction in the
benefits,  arrangements  or  perquisites  to  Executive  which is not general in
nature and applicable on a  nondiscriminatory  basis to all employees covered by
such benefits, arrangements, or perquisites or, pursuant to Section 3(b) of this
Agreement,  to which Executive does not consent or for which Executive is not or
will not be provided the economic benefit, (F) liquidation or dissolution of the
Holding  Company  or the  Institution,  or (G) breach of this  Agreement  by the
Institution.  Upon the  occurrence  of any event  described in clauses (A), (B),
(C), (D),  (E), (F) or (G),  above,  Executive  shall have the right to elect to
terminate  employment  under this  Agreement by  resignation  upon not less than
sixty (60) days prior written notice given within six full calendar months after
the event giving rise to said right to elect.

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<PAGE>

      (b)   Upon  the  occurrence  of an Event  of  Termination,  on the Date of
Termination, as defined in Section 8 of this Agreement, the Institution shall be
obligated to pay Executive,  or, in the event of Executive's  subsequent  death,
his beneficiary or beneficiaries,  or his estate, as the case may be, the amount
of the remaining  payments and benefits that  Executive  would have earned if he
had continued his employment with the Institution during the remaining unexpired
term of this  Agreement,  based on  Executive's  Base  Salary  and the  benefits
provided to Executive as of the date of the Event of  Termination,  as set forth
in Sections 3(a) and (b) of this  Agreement,  as the case may be, and the amount
still due  Executive  under any  paragraph  of  Section 3 for  service  rendered
through the Date of  Termination.  Except as provided for in paragraphs  (c) and
(d) of Section 4, the  determination  of Executive's  benefits as of the date of
the Event of Termination  shall be made based on (i) the value of the allocation
attributable to employer  contributions  for the most recent plan year under any
defined  contribution  type plan; (ii) the percentage of salary of any incentive
or bonus  payment for the most  recently-completed  fiscal  year;  and (iii) the
employer-provided  cost of any  other  benefit  for the most  recently-completed
fiscal year. At the election of Executive,  which  election is to be made within
thirty (30) days of the Date of  Termination,  such payments  shall be made in a
lump sum  (without  discount  for early  payment)  or paid  monthly  during  the
remaining term of the Agreement following Executive's termination.  In the event
that no election is made,  payment to Executive will be made in a lump sum. Such
payments shall not be reduced in the event  Executive  obtains other  employment
following  termination of employment.  Notwithstanding  anything to the contrary
elsewhere in this  Agreement,  to the extent  Executive is entitled to continued
coverage or benefit  accrual under any retirement or welfare benefit plan during
the remaining  unexpired term of this  Agreement,  as amended and restated,  the
amount  payable  under  this  Section  4(b)  should be  adjusted  to the  extent
necessary to avoid any duplication of such benefits.

      (c)   Upon the  occurrence of an Event of  Termination,  Executive will be
entitled to receive  benefits due him under or contributed by the Institution or
its  Subsidiaries on his behalf pursuant to any  retirement,  incentive,  profit
sharing,  employee  stock  ownership,  bonus,  performance,  disability or other
employee  benefit  plan or  arrangement  maintained  by the  Institution  or its
Subsidiaries  to the extent such  benefits are not  otherwise  paid to Executive
under a separate  provision  of this  Agreement.  In  addition,  for purposes of
determining his vested accrued benefit, Executive shall be credited either under
any defined  benefit  pension  plan  maintained  by the  Institution  or, if not
permitted  under such plan,  under a separate  arrangement,  with the additional
"years of service"  that he would have  earned for  vesting and benefit  accrual
purposes  for  the  remaining  term of the  Agreement  had  his  employment  not
terminated.

      (d)   To the extent that the Institution or its  Subsidiaries  continue to
offer  any  life,  medical,  health,  disability  or  dental  insurance  plan or
arrangement in which Executive participates in on the last day of his employment
(each  being a  "Welfare  Plan"),  after  an  Event of  Termination  (as  herein
defined),  Executive and his  dependents  shall continue  participating  in such
Welfare  Plans,  subject  to the  same  premium  contributions  on the  part  of
Executive as were required  immediately  prior to the Event of

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<PAGE>

Termination  until the earlier of (i) his death (ii) his  employment  by another
employer  other than one of which he is the  majority  owner or (iii) the end of
the remaining term of this  Agreement.  If the  Institution or its  Subsidiaries
does not offer the Welfare Plans (or if for any reason Executive's participation
in  said  plans  is  prohibited)  after  the  Event  of  Termination,  then  the
Institution  shall provide Executive with a payment equal to the actuarial value
of the  provision of such benefit for the period which runs until the earlier of
(i) his death;  (ii) his employment by another  employer other than one of which
he is the  majority  owner;  or  (iii)  the  end of the  remaining  term of this
Agreement.

      (e)   In the event that Executive is receiving  monthly payments  pursuant
to Section 4(b) of this Agreement, on an annual basis,  thereafter,  between the
dates of January 1 and January 31 of each year,  Executive  shall have the right
to elect whether the balance of the amount  payable under the Agreement for that
year shall be paid in a lump sum or on a pro rata basis.  Such election shall be
irrevocable for the year for which such election is made.

      (f)   Termination of Executive based on Disability  shall mean termination
by written notice from either the Executive, the Institution or its Subsidiaries
upon a determination by a physician chosen by the Institution, who is reasonably
acceptable  to  Executive  or  Executive's  personal  representatives,  that the
Executive  is not  capable  of  fulfilling  Executive's  responsibilities  as an
officer of the  Institution.  Upon  termination  of Executive  upon  Disability,
Executive  shall be entitled to all benefits  under any  disability  plan of the
Institution or its Subsidiaries or any other plans to which Executive is a party
or a  participant  in  accordance  with the  terms  of the plan or  arrangement.
Executive  shall be entitled to all  compensation  and benefits  provided for in
Section 3 of this Agreement through the date of his termination of employment as
specified in the written notice.

5.    CHANGE IN CONTROL.

      (a)   Change in Control of the Holding  Company or the  Institution  shall
mean an event of a nature that: (i) would be required to be reported in response
to Item 1(a) of the current report on Form 8-K, as in effect on the date hereof,
pursuant  to Section  13 or 15(d) of the  Securities  Exchange  Act of 1934 (the
"Exchange  Act");  or (ii) results in a Change in Control of the Holding Company
or the Institution  within the meaning of the Change in Bank Control Act and the
Rules and Regulations  promulgated by the Federal Deposit Insurance  Corporation
("FDIC") at 12 C.F.R.  SS. 303.4(a),  with respect to the  Institution,  and the
Rules and Regulations  promulgated by the Office of Thrift  Supervision  ("OTS")
(or its predecessor  agency),  with respect to the Holding Company, as in effect
on the date of this  Agreement;  or (iii)  without  limitation  such a Change in
Control  shall be deemed to have  occurred at such time as (A) any  "person" (as
the term is used in Sections  13(d) and 14(d) of the Exchange Act) is or becomes
the  "beneficial  owner"  (as  defined in Rule 13d-3  under the  Exchange  Act),
directly or indirectly,  of voting  securities of the Institution or the Holding
Company  representing 20% or more of the  Institution's or the Holding Company's
outstanding voting securities or right to acquire such securities except for any
voting  securities of the  Institution  purchased by

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<PAGE>

the Holding Company and any voting securities  purchased by any employee benefit
plan  of the  Holding  Company,  the  Institution  or its  Subsidiaries,  or (B)
individuals who constitute the Board on the date hereof (the "Incumbent  Board")
cease for any reason to  constitute at least a majority  thereof,  provided that
any person becoming a director  subsequent to the date hereof whose election was
approved by a vote of at least  three-quarters  of the directors  comprising the
Incumbent  Board,  or whose  nomination  for  election by the Holding  Company's
stockholders  was approved by a Nominating  Committee solely composed of members
which are Incumbent  Board  members,  shall be, for purposes of this clause (B),
considered as though he were a member of the Incumbent  Board,  or (C) a plan of
reorganization,  merger,  consolidation,  sale of all or  substantially  all the
assets of the Institution or the Holding Company or similar  transaction  occurs
or is  effectuated  in which  the  Institution  or  Holding  Company  is not the
resulting  entity,  or (D) a proxy  statement  has been  distributed  soliciting
proxies from  stockholders  of the Holding  Company,  by someone  other than the
current  management of the Holding Company,  seeking  stockholder  approval of a
plan of  reorganization,  merger or  consolidation  of the  Holding  Company  or
Institution  with one or more  corporations as a result of which the outstanding
shares of the class of securities  then subject to such plan or transaction  are
exchanged for or converted into cash or property or securities not issued by the
Institution or the Holding Company shall be  distributed,  or (E) a tender offer
is made for 20% or more of the voting  securities of the  Institution or Holding
Company then outstanding.

      (b)   If any of the events  described  in Section  5(a) of this  Agreement
constituting a Change in Control have occurred, or the Board has determined that
a Change in Control has  occurred,  Executive  shall be entitled to the benefits
provided in  paragraphs  (c),  (d), (e), (f), and (g) of this Section 5 upon his
termination  of employment on or after the date the Change in Control occurs due
to (i) Executive's dismissal at any time during the term of this Agreement, (ii)
Executive's  resignation  for any  reason  within  the  sixty  (60)  day  period
following the date that is one-year from the date the Change in Control occurred
or (iii)  Executive's  resignation  during the remaining  term of this Agreement
following  any  demotion,  loss of title,  office or  significant  authority  or
responsibility,  reduction in the annual  compensation or benefits or relocation
of  Executive's  principal  place of  employment  by more than 25 miles from its
location immediately prior to the Change in Control,  unless such termination is
because of Executive's Termination for Cause; provided,  however,  Executive may
consent in writing to any such  demotion,  loss,  reduction or  relocation.  The
effect of any written  consent of the Executive under this Section 5(b) shall be
strictly  limited  to the terms  specified  in such  written  consent.  Under no
circumstances  can a termination of employment during the term of this Agreement
on or after the date of a Change in Control  occurs be  considered a termination
on account of retirement or disability for purposes of  determining  Executive's
rights to the payment of benefits provided in paragraphs (c), (d), (e), (f), and
(g) of this Section 5.

      (c)   Upon Executive's  entitlement to payment pursuant to Section 5(b) of
this  Agreement,  the  Institution  shall  pay  Executive,  or in the  event  of
Executive's  subsequent  death,  Executive's  beneficiary or  beneficiaries,  or
estate, as the case may

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<PAGE>

be, as severance pay or liquidated  damages, or both, a sum equal to the greater
of: (1) the payments and benefits that would have been due pursuant to Section 3
of this  Agreement for the  remaining  term of the  Agreement;  or (2) three (3)
times  the  Executive's  average  annual  compensation  (excluding  compensation
attributable  to the  exercise  of stock  options)  for the three most  recently
completed  taxable years of  Executive.  Except as provided for in the preceding
sentence,  for purposes of this Section 5(c), annual  compensation shall include
Base  Salary  and  any  other  taxable  income  paid by the  Institution  or its
Subsidiaries,  including  but not  limited to amounts  related to the  granting,
vesting  or  exercise  of  restricted  stock,  commissions,  bonuses,  severance
payments,  retirement  benefits,  director or committee fees and fringe benefits
paid or to be paid to Executive or paid for Executive's  benefit during any such
year,  as well as  profit  sharing,  employee  stock  ownership  plan and  other
retirement  contributions  or  benefits,   including  to  any  tax-qualified  or
non-tax-qualified  plan or arrangement  (whether or not taxable) made or accrued
on behalf of  Executive  for such year.  At the  election  of  Executive,  which
election  is to be made  prior  to or  within  thirty  (30)  days of the Date of
Termination  on or following a Change in Control,  such payment may be made in a
lump sum (without  discount for early payment) on or  immediately  following the
Date of Termination  (which may be the date a Change in Control  occurs) or paid
in equal  monthly  installments  during the  thirty-six  (36)  months  following
Executive's  termination.  In the event  that no  election  is made,  payment to
Executive  will be made in a lump sum. Such payments shall not be reduced in the
event Executive obtains other employment following termination of employment.

      (d)   Upon the  occurrence of a Change in Control  followed by Executive's
termination  of employment,  Executive will be entitled to receive  benefits due
him under or contributed by the  Institution or its  Subsidiaries  on his behalf
pursuant to any retirement, incentive, profit sharing, employee stock ownership,
bonus,  performance,   disability  or  other  employee  benefit  plan  or  other
arrangement  maintained by the  Institution on Executive's  behalf to the extent
such benefits are not otherwise paid to Executive under a separate  provision of
this  Agreement.  In addition,  for purposes of  determining  his vested accrued
benefit,  Executive  shall be credited  either under any defined benefit pension
plan and  related  supplemental  executive  retirement  plan  maintained  by the
Institution or, if not permitted under such plans, under a separate arrangement,
with the additional "years of service" that he would have earned for vesting and
benefit  accrual  purposes  for  the  remaining  term of the  Agreement  had his
employment not terminated.

      (e)   Upon  the  occurrence  of  a  Change  in  Control  and   Executive's
termination  of  employment  pursuant to the  provisions of Section 5(b) of this
Agreement in connection  therewith,  the Institution  will cause to be continued
any  welfare  Plan  benefit (as  described  in Section  4(d) of this  Agreement)
substantially identical to the benefit coverage maintained by the Institution or
its  Subsidiaries  for  Executive and any of his  dependents  covered under such
plans  prior to the  Change in  Control.  Such  coverage  shall  cease  upon the
expiration  of  thirty-six  (36)  full  calendar  months  following  the Date of
Termination.  In the event Executive's or Executive's dependent's  participation
in any such plan or program is barred,  the Institution shall arrange to provide
Executive and

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his  dependents  with  benefits  coverage  substantially  similar to those which
Executive and his dependents would otherwise have been entitled to receive under
such plans and programs by operation of this provision or provide their economic
equivalent to executive and his dependents.

      (f)   The use or provision of any membership,  license, automobile use, or
other  perquisites shall be continued during the remaining term of the Agreement
on the same financial terms and obligations as were in place  immediately  prior
to the  Change in  Control.  To the  extent  that any item  referred  to in this
paragraph  will at the end of the term of this  Agreement no longer be available
to Executive, Executive will have the option to purchase all rights then held by
the  Institution or its  Subsidiaries to such item for a price equal to the then
fair market value of the item.

      (g)   In the event that Executive is receiving  monthly payments  pursuant
to Section 5(c) hereof,  on an annual  basis,  thereafter,  between the dates of
January 1 and January 31 of each year,  Executive  shall have the right to elect
whether  the balance of the amount  payable  under the  Agreement  for that year
shall be paid in a lump sum pursuant to such  section.  Such  election  shall be
irrevocable for the year for which such election is made.

6.    CHANGE OF CONTROL RELATED PROVISIONS.

      (a)   Notwithstanding  the  preceding  provisions  of  Section  5 of  this
Agreement,  for any  taxable  year in which  Executive  shall be liable  for the
payment of an excise tax under Section 4999 of the Internal Revenue Code (or any
successor provision  thereto),  with respect to any payment in the nature of the
compensation  made by the Institution or its Subsidiaries to (or for the benefit
of) Executive  pursuant to this Agreement or otherwise,  the Institution (or any
successor  thereto)  shall  pay to  Executive  an  amount  determined  under the
following formula:

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      An amount equal to:  (E x P) + X

WHERE:

      X  =           E x P /
            ----------------------
              1 - [(FI x (1 - SLI)) + SLI + E + M]
and

      E  =  the rate at which the excise tax is assessed  under  Section 4999 of
            the Code;

      P  =  the  amount  with  respect to which  such  excise  tax is  assessed,
            determined without regard to this Section 6;

      FI =  the highest marginal rate of federal income,  employment,  and other
            taxes  (other than taxes  imposed  under  Section  4999 of the Code)
            applicable  to  Executive  for the  taxable  year in  question  with
            respect  to  such  payment  (including  any  effective  increase  in
            Executive's tax rate  attributable to the resultant  disallowance of
            any deduction or the phase-out of any personal  exemption or similar
            items);

      SLI = the sum of the  highest  marginal  rates of income and  payroll  tax
            applicable to Executive  under  applicable  state and local laws for
            the taxable year in question  (including  any effective  increase in
            Executive's tax rate  attributable to the resultant  disallowance of
            any deduction or the phase-out of any personal  exemption or similar
            items);

      M  =  highest marginal rate of Medicare tax; and

      With respect to any payment in the nature of compensation  that is made to
(or for the benefit of) Executive under the terms of this Section 6 or otherwise
and on  which  an  excise  tax  under  Section  4999 of the  Code may or will be
assessed, the payment determined under this Section 6 shall be made to Executive
on the  earliest of (i) the date the  Institution  is required to withhold  such
tax, (ii) the date the tax is required to be paid by Executive,  or (iii) at the
time of termination resulting from the Change in Control. It is the intention of
the parties  that the  Institution  provide  Executive  with a full tax gross-up
under the  provisions of this Section 6, so that on a net after-tax  basis,  the
result to  Executive  shall be the same as if the excise tax under  Section 4999
(or any successor provisions) of the Code had not been imposed. The tax gross-up
may be adjusted, as appropriate, if alternative minimum tax rules are applicable
to Executive.

      (b)   Notwithstanding the foregoing,  if it is (i) initially determined by
the Institution's tax advisors that no excise tax under Section 4999 of the Code
is due with respect to any payment or benefit  described in the first  paragraph
of  Section  6(a)  and   thereafter  it  is  determined  in  a  final   judicial
determination or  administrative  settlement that the Section 4999 excise tax is
due with respect to such  payments or benefits or  subsequently  determined in a
final  judicial  determination  or a final  administrative

                                       9
<PAGE>

settlement to which  Executive is a party that the excise tax under Section 4999
of the Code is due or that the  excess  parachute  payment as defined in Section
4999 of the Code is more than the amount  determined as "P", above (such revised
determination  under  (i) or (ii)  above  thereafter  being  referred  to as the
"Determinative  Excess  Parachute  Payment"),  then  the  tax  advisors  of  the
Institution  (or  any  successor   thereto)  shall  determine  the  amount  (the
"Adjustment  Amount"),  the Institution  (or any successor  thereto) must pay to
Executive,  in order to put  Executive in the same  position as Executive  would
have  been  if the  amount  determined  as  "P"  above  had  been  equal  to the
Determinative  Excess Parachute  Payment.  In determining the Adjustment Amount,
the tax  advisors  shall  take into  account  any and all taxes  (including  any
penalties  and interest)  paid or payable by Executive in  connection  with such
final judicial  determination  or final  administrative  settlement.  As soon as
practicable after the Adjustment Amount has been so determined,  the Institution
shall pay the Adjustment Amount to Executive.

      (c)   The  Institution  (or  its  successor)   shall  indemnify  and  hold
Executive  harmless  from any and all  losses,  costs  and  expenses  (including
without limitation,  reasonable attorney's fees,  reasonable  accountant's fees,
interest, fines and penalties of any kind) which Executive incurs as a result of
any  administrative  or judicial  review of Executive's  liability under Section
4999 of the Code by the Internal  Revenue Service or any comparable state agency
through and including a final  judicial  determination  or final  administrative
settlement of any dispute  arising out of Executive's  liability for the Section
4999 excise tax or  otherwise  relating to the  classification  for  purposes of
Section 280G of the Code of any payment or benefit in the nature of compensation
made or provided to  Executive  by the  Institution  or any  successor  thereto.
Executive shall promptly notify the  Institution in writing  whenever  Executive
receives  notice  of  the   commencement  of  any  judicial  or   administrative
proceeding, formal or informal, in which the federal tax treatment under Section
4999 of the Code of any amount paid or payable under this Supplemental Agreement
is being reviewed or is in dispute (including a notice of audit or other inquiry
concerning  the reporting of  Executive's  liability  under Section  4999).  The
Institution  (or its successor) may assume control at its expense over all legal
and accounting matters pertaining to such federal or state tax treatment (except
to the extent  necessary  or  appropriate  for  Executive  to  resolve  any such
proceeding  with  respect to any  matter  unrelated  to amounts  paid or payable
pursuant  to this  Agreement)  and  Executive  shall  cooperate  fully  with the
Institution  in  any  such  proceeding.  Executive  shall  not  enter  into  any
compromise or settlement or otherwise  prejudice any rights the  Institution (or
its  successor)  may have in connection  therewith  without prior consent of the
Institution  (or its  successor).  In the  event  that the  Institution  (or any
successor  thereto)  elects  not  to  assume  control  over  such  matters,  the
Institution (or any successor  thereto) shall promptly  reimburse  Executive for
all  expenses  related  thereto  as  and  when  incurred  upon  presentation  of
appropriate documentation relating thereto.

7.    TERMINATION FOR CAUSE.

                                       10
<PAGE>

      The term  "Termination  for  Cause"  shall  mean  termination  because  of
Executive's  personal  dishonesty,  willful misconduct,  any breach of fiduciary
duty involving  personal profit,  intentional  failure to perform stated duties,
willful violation of any law, rule, regulation (other than traffic violations or
similar  offenses),  final  cease and  desist  order or  material  breach of any
provision of this Agreement.  Notwithstanding the foregoing, Executive shall not
be deemed to have been  terminated  for Cause  unless and until there shall have
been delivered to Executive a Notice of  Termination  which shall include a copy
of a  resolution  duly  adopted  by  the  affirmative  vote  of  not  less  than
three-fourths  of the members of the Board at a meeting of the Board  called and
held for that purpose (after  reasonable  notice to Executive and an opportunity
for  Executive,  together with  counsel,  to be heard before the Board and which
such meeting  shall be held not more than 30 days from the date of notice during
which  period  Executive  may be suspended  with pay),  finding that in the good
faith  opinion  of  the  Board,  Executive  was  guilty  of  conduct  justifying
Termination  for  Cause  and  specifying  the  particulars  thereof  in  detail.
Executive shall not have the right to receive compensation or other benefits for
any period  after  Termination  for Cause except for  compensation  and benefits
already  vested.  Any stock  options  and  related  limited  rights  granted  to
Executive  under any stock  option  plan,  or any  unvested  awards  granted  to
Executive  under any  restricted  stock benefit plan of the  Institution  or its
Subsidiaries,  shall become null and void effective upon Executive's  receipt of
Notice of Termination  for Cause pursuant to Section 8 hereof,  and shall not be
exercisable  by or  delivered  to  Executive  at any  time  subsequent  to  such
Termination  for Cause except all benefits  shall be deemed to have  remained in
effect if Executive is reinstated.

8.    NOTICE.

      (a)   Any purported  termination by the  Institution or by Executive shall
be communicated by Notice of Termination to the other party hereto. For purposes
of this Agreement,  a "Notice of Termination"  shall mean a written notice which
shall indicate the specific termination  provision in this Agreement relied upon
and shall set forth in reasonable detail the facts and circumstances  claimed to
provide a basis for termination of Executive's employment under the provision so
indicated.

      (b)   Except  as  otherwise  provided  for in  this  Agreement,  "Date  of
Termination" shall mean the date specified in the Notice of Termination  (which,
in the case of a Termination for Cause,  shall not be less than thirty (30) days
from the date such Notice of Termination is given).

      (c)   If,  within  thirty  (30) days  after any Notice of  Termination  is
given,  the party receiving such Notice of Termination  notifies the other party
that a  reasonable  dispute  exists  concerning  the  termination,  the  Date of
Termination shall be the date on which the dispute is finally determined, either
by mutual written agreement of the parties,  by a binding  arbitration award, or
by a final judgment,  order or decree of a court of competent  jurisdiction (the
time for appeal  therefrom  having expired and no appeal having been  perfected)
and provided further that the Date of Termination  shall be extended by a notice
of dispute  only if such notice is given in good faith and the party

                                       11
<PAGE>

giving such notice  pursues  the  resolution  of such  dispute  with  reasonable
diligence.  Notwithstanding  the pendency of any such dispute,  the  Institution
will  continue to pay  Executive's  Base Salary and continue to cover  Executive
under each Welfare Benefit Plan in which  Executive  participated at the time of
such notice in effect when the notice giving rise to the dispute was given until
the dispute is finally resolved in accordance with this Agreement.  Amounts paid
under this  Section  8(c) are in  addition  to all other  amounts due under this
Agreement and shall not be offset  against or reduce any other amounts due under
this Agreement.

9.    POST-TERMINATION OBLIGATIONS.

      All  payments  and benefits to  Executive  under this  Agreement  shall be
subject  to  Executive's  compliance  with this  Section 9 for one (1) full year
after  the  earlier  of the  expiration  of this  Agreement  or  termination  of
Executive's  employment with the Institution.  Executive shall,  upon reasonable
notice,  furnish such  information and assistance to the Institution with regard
to  matters  as to which he has  personal  knowledge  and as may  reasonably  be
required by the Institution in connection with any litigation in which it or any
of its  Subsidiaries or affiliates is, or may become,  a party.  The Institution
shall  reimburse  Executive for all  out-of-pocket  expenses  incurred and at an
hourly rate  equivalent to the hourly rate (based on an eight-hour  work day) of
his Base Salary in effect at the time of his termination from employment for any
time incurred in connection with services rendered pursuant to this Section 9.

10.   NON-COMPETITION.

      (a)   Upon any termination of Executive's employment hereunder pursuant to
Section  4  of  this  Agreement,  Executive  agrees  not  to  compete  with  the
Institution  or its  Subsidiaries  for a period of one (1) year  following  such
termination in the county in which the Institution's executive office is located
as of the effective date of such termination,  except as agreed to pursuant to a
resolution duly adopted by the Board.  Executive  agrees that during such period
and within said  location,  Executive  shall not work for or advise,  consult or
otherwise  serve  with,  directly  or  indirectly,  any  entity  whose  business
materially competes with the depository, lending or other business activities of
the  Institution  or its  Subsidiaries.  The parties  hereto,  recognizing  that
irreparable  injury  will result to the  Institution  or its  Subsidiaries,  its
business  and  property in the event of  Executive's  breach of this  Subsection
10(a) agree that in the event of any such breach by Executive,  the  Institution
or its  Subsidiaries,  will be entitled,  in addition to any other  remedies and
damages  available,  to an  injunction  to  restrain  the  violation  hereof  by
Executive,  Executive's partners,  agents,  servants,  employees and all persons
acting for or under the direction of Executive.  Executive represents and admits
that in the event of the  termination  of his  employment  pursuant to Section 4
hereof,  Executive's  experience  and  capabilities  are such that Executive can
obtain  employment  in a business  engaged in other lines  and/or of a different
nature than the Institution or its  Subsidiaries,  and that the enforcement of a
remedy  by  way  of  injunction  will  not  prevent  Executive  from  earning  a
livelihood.  Nothing herein will be construed as prohibiting  the Institution or
its Subsidiaries  from pursuing any other

                                       12
<PAGE>

remedies  available to the  Institution or its  Subsidiaries  for such breach or
threatened breach, including the recovery of damages from Executive.

      (b)   Executive  recognizes  and  acknowledges  that the  knowledge of the
business activities and plans for business activities of the Institution and its
Subsidiaries  as it may exist  from time to time,  is a  valuable,  special  and
unique asset of the business of the Institution and its Subsidiaries.  Executive
will not,  during  or after the term of  Executive's  employment,  disclose  any
knowledge of the past, present, planned or considered business activities of the
Institution and its Subsidiaries  thereof to any person, firm,  corporation,  or
other entity for any reason or purpose whatsoever unless expressly authorized by
the Board of  Directors  or  required  by law.  Notwithstanding  the  foregoing,
Executive  may disclose  any  knowledge of banking,  financial  and/or  economic
principles,  concepts or ideas which are not solely and exclusively derived from
the business plans and activities of the  Institution.  In the event of a breach
or threatened  breach by the Executive of the provisions of this Section 10, the
Institution  will  be  entitled  to an  injunction  restraining  Executive  from
disclosing,  in whole or in part, the knowledge of the past, present, planned or
considered  business  activities of the Institution or its  Subsidiaries or from
rendering any services to any person, firm, corporation, or other entity to whom
such  knowledge,  in whole or in part, has been disclosed or is threatened to be
disclosed.  Nothing herein will be construed as prohibiting the Institution from
pursuing  any other  remedies  available to the  Institution  for such breach or
threatened breach, including the recovery of damages from Executive.

11.   SOURCE OF PAYMENTS.

      (a)   All  payments  provided  in this  Agreement  shall be timely paid in
cash,  check or other mutually  agreed upon method from the general funds of the
Institution  subject to Section 11(b) of this  Agreement.  The Holding  Company,
however,  unconditionally  guarantees  payment and  provision of all amounts and
benefits due  hereunder to Executive  and, if such amounts and benefits due from
the Institution are not timely paid or provided by the Institution, such amounts
and benefits shall be paid or provided by the Holding Company.

      (b)   Notwithstanding any provision herein to the contrary,  to the extent
that  payments  and  benefits,  as  provided by this  Agreement,  are paid to or
received by Executive under an employment  agreement in effect between Executive
and the Holding Company,  such payments and benefits paid by the Holding Company
will be subtracted from any amount due simultaneously to Executive under similar
provisions  of this  Agreement.  Payments  pursuant  to this  Agreement  and the
Holding  Company  Agreement  shall be  allocated in  proportion  to the level of
activity and the time expended on such  activities by Executive as determined by
the Holding Company and the Institution on a quarterly basis; provided, however,
that except for the  reduction  provided by the first  sentence of this  Section
11(b),  the  Institution  will  be  obligated  to pay  100% of the  amounts  due
Executive hereunder.

                                       13
<PAGE>

12.   EFFECT ON PRIOR AGREEMENTS AND EXISTING BENEFITS PLANS.

      This  Agreement  contains  the entire  understanding  between  the parties
hereto and supersedes any prior employment  agreement between the Institution or
any  predecessor of the  Institution  and Executive,  except that this Agreement
shall not affect or operate to reduce any benefit or compensation inuring to the
Executive of a kind elsewhere provided.  No provision of this Agreement shall be
interpreted to mean that  Executive is subject to receiving  fewer benefits than
those available to him without reference to this Agreement.

13.   NO ATTACHMENT.

      (a)   Except as required by law, no right to receive  payments  under this
Agreement  shall be  subject to  anticipation,  commutation,  alienation,  sale,
assignment,  encumbrance,  charge,  pledge, or  hypothecation,  or to execution,
attachment,  levy, or similar process or assignment by operation of law, and any
attempt,  voluntary  or  involuntary,  to affect any such action  shall be null,
void, and of no effect.

      (b)   This  Agreement  shall be binding upon, and inure to the benefit of,
Executive and the Institution and their respective successors and assigns.

14.   MODIFICATION AND WAIVER.

      (a)   This  Agreement  may  not  be  modified  or  amended  except  by  an
instrument in writing signed by the parties hereto.

      (b)   No term or condition of this Agreement  shall be deemed to have been
waived, nor shall there be any estoppel against the enforcement of any provision
of this Agreement,  except by written  instrument of the party charged with such
waiver or estoppel.  No such written waiver shall be deemed a continuing  waiver
unless specifically  stated therein,  and each such waiver shall operate only as
to the specific  term or condition  waived and shall not  constitute a waiver of
such term or condition for the future as to any act other than that specifically
waived.

15.   SEVERABILITY.

      If, for any reason,  any provision of this  Agreement,  or any part of any
provision, is held invalid, such invalidity shall not affect any other provision
of this  Agreement or any part of such  provision not held so invalid,  and each
such other  provision and part thereof shall to the full extent  consistent with
law continue in full force and effect.

                                       14
<PAGE>

16.   HEADINGS FOR REFERENCE ONLY.

      The headings of sections  and  paragraphs  herein are included  solely for
convenience of reference and shall not control the meaning or  interpretation of
any of the provisions of this Agreement.

17.   GOVERNING LAW.

      This  Agreement  shall be governed by the laws of the State of New Jersey,
unless otherwise specified herein.

18.   ARBITRATION.

      Any  dispute  or  controversy  arising  under or in  connection  with this
Agreement shall be settled exclusively by arbitration,  conducted before a panel
of three  arbitrators  sitting in a location  selected by Executive within fifty
(50) miles from the location of the Institution, in accordance with the rules of
the American Arbitration  Association then in effect. Judgment may be entered on
the arbitrator's award in any court having jurisdiction; provided, however, that
Executive shall be entitled to seek specific performance of Executive's right to
be paid until the Date of  Termination  during the  pendency  of any  dispute or
controversy arising under or in connection with this Agreement.

      In the event any dispute or  controversy  arising  under or in  connection
with  Executive's  termination  is  resolved in favor of  Executive,  whether by
judgment, arbitration or settlement,  Executive shall be entitled to the payment
of all  back-pay,  including  salary,  bonuses and any other cash  compensation,
fringe  benefits and any  compensation  and benefits  due  Executive  under this
Agreement.

19.   PAYMENT OF LEGAL FEES.

      All  reasonable  legal fees paid or incurred by Executive  pursuant to any
dispute or question of  interpretation  relating to this Agreement shall be paid
or reimbursed by the Institution, if Executive is successful pursuant to a legal
judgment, arbitration or settlement.

20.   INDEMNIFICATION.

      The Institution  shall provide  Executive  (including  Executive's  heirs,
executors and  administrators)  with coverage  under a standard  directors'  and
officers'  liability  insurance  policy  at  its  expense  and  shall  indemnify
Executive (and Executive's heirs,  executors and  administrators) to the fullest
extent  permitted  under New Jersey law against  all  expenses  and  liabilities
reasonably  incurred  by  Executive  in  connection  with or arising  out of any
action,  suit or  proceeding  in which  Executive  may be  involved by reason of
Executive  having  been  a  director  or  officer  of  the  Institution  or  its
Subsidiaries  (whether

                                       15
<PAGE>

or not Executive  continues to be a director or officer at the time of incurring
such expenses or liabilities), such expenses and liabilities to include, but not
be  limited  to,  judgments,  court  costs and  attorneys'  fees and the cost of
reasonable settlements.

21.   SUCCESSOR TO THE INSTITUTION.

      The Institution shall require any successor or assignee, whether direct or
indirect,  by  purchase,   merger,   consolidation  or  otherwise,   to  all  or
substantially  all the  business  or assets of the  Institution,  expressly  and
unconditionally  to assume and agree to perform  the  Institution's  obligations
under  this  Agreement,  in the  same  manner  and to the same  extent  that the
Institution would be required to perform if no such succession or assignment had
taken place.

                                       16
<PAGE>

                                   SIGNATURES

      IN WITNESS WHEREOF,  First Savings Bank and First Sentinel  Bancorp,  Inc.
have caused this  Agreement,  as amended and restated,  to be executed and their
seals to be affixed  hereunto by their duly  authorized  officers and directors,
and Executive has signed this Agreement, on ____________________________.

ATTEST:                                     FIRST SAVINGS BANK

                                            By:
------------------------------------           ---------------------------------
Secretary                                      For the Entire Board of Directors

                  [SEAL]

ATTEST:                                     FIRST SENTINEL BANCORP, INC.

                                            (Guarantor)

                                            By:
------------------------------------           ---------------------------------
Secretary                                      For the Entire Board of Directors

                  [SEAL]

WITNESS:                                    EXECUTIVE

                                            By:
------------------------------------           ---------------------------------

                                       17FORM OF FIRST SAVINGS BANK
                      TWO-YEAR CHANGE IN CONTROL AGREEMENT

      This AGREEMENT, originally entered into on November 18, 1998, is amended
and restated in its entirety effective November 15, 2000, by and between First
Savings Bank (the "Bank"), a New-Jersey chartered savings bank, with its
principal administrative office at 1000 Woodbridge Center Drive, Woodbridge, New
Jersey,__________________ ("Executive"), and First Sentinel Bancorp, Inc. (the
"Holding Company"), a corporation organized under the laws of the State of
Delaware which is the holding company for the Bank.

      WHEREAS, the Bank recognizes the substantial contribution Executive has
made to the Bank and wishes to protect Executive's position therewith for the
period provided in this Agreement; and

      WHEREAS, Executive has agreed to serve in the employ of the Bank.

      NOW, THEREFORE, in consideration of the contribution and responsibilities
of Executive, and upon the other terms and conditions hereinafter provided, the
parties hereto agree as follows:

1.    TERM OF AGREEMENT

      The term of this First Savings Bank Two-Year Change in Control Agreement
(the "Agreement") shall be deemed to have commenced as of the date first above
written and shall continue for a period of twenty-four (24) full calendar months
thereafter. Commencing on the first anniversary date of this Agreement, as
amended and restated, and continuing on each anniversary date thereafter, the
Board of Directors of the Bank (the "Board") or Executive may extend the term of
this Agreement for an additional year so that the remaining term is a full
twenty-four (24) calendar months, unless Executive elects not to extend the term
of the Agreement by providing written notice to the Board in accordance with
Section 4 of the Agreement.

2.    CHANGE IN CONTROL

      (a)   Upon the occurrence of a "Change in Control" of the Bank or the
Holding Company (as defined in Section 2(b) this Agreement) followed by the
termination of Executive's employment, other than in connection with a
Termination for Cause, (as defined in Section 2(c) of this Agreement), at any
time during either the term of this Agreement or within a sixty (60) day period
following the one (1) year anniversary date of the Change in Control, the
provisions of Section 3 of this Agreement shall apply. Upon the occurrence of a
Change in Control, Executive shall have the right to elect to voluntarily
terminate his employment at any time during the term of this Agreement following
any demotion, loss of title, office or significant authority, reduction in
Executive's annual compensation or benefits, or relocation of Executive's
principal place of employment by more than twenty-five (25) miles from its
location immediately prior to a Change in Control; PROVIDED, HOWEVER, Executive
may consent in writing to any such

<PAGE>

demotion, loss, reduction or relocation. The effect of any written consent of
Executive under this Section 2(a) shall be strictly limited to the terms
specified in such written consent.

      (b)   For purposes of this Agreement, a "Change in Control" of the Bank or
the Holding Company shall mean an event of a nature that: (i) would be required
to be reported in response to Item 1(a) of the current report on Form 8-K, as in
effect on the date hereof, pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934 (the "Exchange Act"); or (ii) results in a Change in
Control of the Holding Company or the Bank within the meaning of the Change in
Bank Control Act and the Rules and Regulations promulgated by the Federal
Deposit Insurance Corporation ("FDIC") at 12 C.F.R. SS. 303.4(a), with respect
to the Bank, and the Rules and Regulations promulgated by the Office of Thrift
Supervision ("OTS") (or its predecessor agency), with respect to the Holding
Company, as in effect on the date of this Agreement; or (iii) without limitation
such a Change in Control shall be deemed to have occurred at such time as (A)
any "person" (as the term is used in Sections 13(d) and 14(d) of the Exchange
Act) is or becomes the "beneficial owner" (as defined in Rule 13d-3 under the
Exchange Act), directly or indirectly, of voting securities of the Bank or the
Holding Company representing 20% or more of the Bank's or the Holding Company's
outstanding voting securities or right to acquire such securities except for any
voting securities of the Bank purchased by the Holding Company and any voting
securities purchased by any employee benefit plan of the Holding Company or its
Subsidiaries, or (B) individuals who constitute the Board on the date hereof
(the "Incumbent Board") cease for any reason to constitute at least a majority
thereof, provided that any person becoming a director subsequent to the date
hereof whose election was approved by a vote of at least three-quarters of the
directors comprising the Incumbent Board, or whose nomination for election by
the Holding Company's stockholders was approved by a Nominating Committee solely
composed of members which are Incumbent Board members, shall be, for purposes of
this clause (B), considered as though he were a member of the Incumbent Board,
or (C) a plan of reorganization, merger, consolidation, sale of all or
substantially all the assets of the Bank or the Holding Company or similar
transaction occurs or is effectuated in which the Bank or Holding Company is not
the resulting entity, or (D) a proxy statement has been distributed soliciting
proxies from stockholders of the Holding Company, by someone other than the
current management of the Holding Company, seeking stockholder approval of a
plan of reorganization, merger or consolidation of the Holding Company or Bank
with one or more corporations as a result of which the outstanding shares of the
class of securities then subject to such plan or transaction are exchanged for
or converted into cash or property or securities not issued by the Bank or the
Holding Company shall be distributed, or (E) a tender offer is made for 20% or
more of the voting securities of the Bank or Holding Company then outstanding.

      (c)   Executive shall not have the right to receive termination benefits
pursuant to Section 3 of this Agreement upon Termination for Cause. The term
"Termination for Cause" shall mean termination because of Executive's personal
dishonesty, willful misconduct, any breach of fiduciary duty involving personal
profit, intentional failure to perform stated duties, willful violation of any
law, rule, regulation (other than traffic violations or similar offenses), final
cease and desist order or material breach of any provision of this Agreement.
Notwithstanding the foregoing, Executive shall not be deemed to have been
terminated for Cause unless and until there shall have been delivered to
Executive a Notice of Termination which shall include a copy of a resolution
duly adopted by the affirmative vote of not less than a majority of

                                       2
<PAGE>

the members of the Board at a meeting of the Board called and held for that
purpose (after reasonable notice to Executive and an opportunity for Executive,
together with counsel, to be heard before the Board), finding that in the good
faith opinion of the Board, Executive was guilty of conduct justifying
Termination for Cause and specifying the particulars thereof in detail.
Executive shall not have the right to receive compensation or other benefits for
any period after Termination for Cause, except for compensation and benefits
already accrued or vested. During the period beginning on the date of the Notice
of Termination for Cause pursuant to Section 4 of this Agreement through the
Date of Termination for Cause, stock options and related limited rights granted
to Executive under any stock option plan shall not be exercisable nor shall any
unvested stock awards granted to Executive under any stock benefit plan of the
Holding Company or the Bank vest. At the Date of Termination such stock options
(and related limited rights (if any)) and such unvested stock awards shall
become null and void and shall not be exercisable by or delivered to Executive
at any time subsequent to such Termination for Cause.

3.    TERMINATION BENEFITS

      Upon the occurrence of a Change in Control, followed at any time during
the term of this Agreement by termination of Executive's employment due to: (1)
the involuntary termination of Executive's employment (other than Termination
for Cause); (2) Executive's voluntary termination of employment during the term
of this Agreement following any demotion, loss of title, office or significant
authority, reduction in annual compensation or benefits, or relocation of
Executive's principal place of employment more than twenty-five (25) miles from
its location immediately prior to a Change in Control (unless Executive so
consents); or (3) Executive's resignation from employment for any reason within
the sixty (60) day period following the one (1) year anniversary date of the
Change in Control, the Bank shall pay Executive, or in the event of Executive's
subsequent death, Executive's beneficiaries or estate, as the case may be, a sum
equal to two (2) times Executive's average annual compensation for the three (3)
most recent taxable years Executive has been employed by the Bank, or such
lesser number of years in the event Executive is employed with the Bank for less
than three (3) years. Annual compensation shall include base salary and any
other taxable income paid by the Holding Company or the Bank, including but not
limited to amounts related to the granting or vesting of restricted stock,
commissions, bonuses, severance payments, retirement benefits and fringe
benefits paid or to be paid to Executive or paid for Executive's benefit during
any such year, as well as profit sharing, employee stock ownership plan and
other retirement contributions or benefits, including to any tax-qualified or
non-tax-qualified plan or arrangement (whether or not taxable) made or accrued
on behalf of Executive for such year. Provided, however, annual compensation
shall not include income attributable to the exercise of stock options. At the
election of Executive, which election is to be made prior to a Change in
Control, such payments shall be made in a lump sum or on an annual basis in
approximately equal installments over a two (2) year period. In the event no
election is made, payment to Executive will be made on a monthly basis in
approximately equal installments during the remaining term of the Agreement.

      (b)   Upon the occurrence of a Change in Control of the Bank or the
Holding Company followed at any time during the term of this Agreement by
Executive's voluntary or involuntary termination of employment in accordance
with paragraph (a) of this Section 3, other than for Termination for Cause, the
Bank shall cause to be continued life, medical and disability coverage

                                       3
<PAGE>

substantially identical to the coverage maintained by the Bank or Holding
Company for Executive prior to Executive's severance, except to the extent such
coverage may be changed in its application to all Bank or Holding Company
employees on a nondiscriminatory basis. Such coverage and payments shall cease
upon the expiration of twenty-four (24) full calendar months from the Date of
Termination.

      (c)   Notwithstanding the preceding paragraphs of this Section 3, in the
event that:

            (i)   the aggregate payments or benefits to be made or afforded to
                  Executive, which are deemed to be parachute payments as
                  defined in Section 280G of the Internal Revenue Code of 1986,
                  as amended (the "Code"), or any successor thereof (the
                  "Termination Benefits"), would be deemed to include an "excess
                  parachute payment" under Section 280G of the Code; and

            (ii)  if such Termination Benefits were reduced to an amount (the
                  "Non-Triggering Amount"), the value of which is one dollar
                  ($1.00) less than an amount equal to three (3) times
                  Executive's "base amount," as determined in accordance with
                  said Section 280G and the Non-Triggering Amount less the
                  product of the marginal rate of any applicable state and
                  federal income tax and the Non-Triggering Amount would be
                  greater than the aggregate value of the Termination Benefits
                  (without such reduction) minus (i) the amount of tax required
                  to be paid by the Executive thereon by Section 4999 of the
                  Code and further minus (ii) the product of the Termination
                  Benefits and the marginal rate of any applicable state and
                  federal income tax,

then the Termination Benefits shall be reduced to the Non-Triggering Amount. The
allocation of the reduction required hereby among the Termination Benefits shall
be determined by the Executive.

4.    NOTICE OF TERMINATION

      (a)   Any purported termination by the Bank or by Executive in connection
with a Change in Control shall be communicated by a Notice of Termination to the
other party. For purposes of this Agreement, a "Notice of Termination" shall
mean a written notice which indicates the specific termination provision in this
Agreement relied upon and shall set forth in reasonable detail the facts and
circumstances claimed to provide a basis for termination of Executive's
employment under the provision so indicated.

      (b)   "Date of Termination" shall mean the date specified in the Notice of
Termination (which, in the instance of Termination for Cause, shall not be less
than thirty (30) days from the date such Notice of Termination is given);
provided, however, that if a dispute regarding the Executive's termination
exists, the "Date of Termination" shall be determined in accordance with Section
4(c) of this Agreement.

                                       4
<PAGE>

      (c)   If, within thirty (30) days after any Notice of Termination is
given, the party receiving such Notice of Termination notifies the other party
that a dispute exists concerning the termination, the Date of Termination shall
be the date on which the dispute is finally determined, either by mutual written
agreement of the parties, by a binding arbitration award, or by a final
judgment, order or decree of a court of competent jurisdiction (the time for
appeal therefrom having expired and no appeal having been perfected) and
provided further that the Date of Termination shall be extended by a notice of
dispute only if such notice is given in good faith and the party giving such
notice pursues the resolution of such dispute with reasonable diligence.
Notwithstanding the pendency of any such dispute in connection with a Change in
Control, in the event that the Executive is terminated for reasons other than
Termination for Cause, the Bank will continue to pay Executive full compensation
in effect when the Notice was given (including, but not limited to base salary)
until the earlier of: (1) the resolution of the dispute in accordance with this
Agreement; or (2) the expiration of the remaining term of this Agreement as
determined as of the Date of Termination.

5.    SOURCE OF PAYMENTS

      It is intended by the parties hereto that all payments provided in this
Agreement shall be paid in cash or check from the general funds of the Bank.
Further, the Holding Company guarantees such payment and provision of all
amounts and benefits due hereunder to Executive and, if such amounts and
benefits due from the Bank are not timely paid or provided by the Bank, such
amounts and benefits shall be paid and provided by the Holding Company.

6.    EFFECT ON PRIOR AGREEMENTS AND EXISTING BENEFIT PLANS

      This Agreement contains the entire understanding between the parties
hereto and supersedes any prior agreement between the Bank and Executive, except
that this Agreement shall not affect or operate to reduce any benefit or
compensation inuring to Executive of a kind elsewhere provided. No provision of
this Agreement shall be interpreted to mean that Executive is subject to
receiving fewer benefits than those available to Executive without reference to
this Agreement.

      Nothing in this Agreement shall confer upon Executive the right to
continue in the employ of the Bank or shall impose on the Bank any obligation to
employ or retain Executive in its employ for any period.

7.    NO ATTACHMENT

      (a)   Except as required by law, no right to receive payments under this
Agreement shall be subject to anticipation, commutation, alienation, sale,
assignment, encumbrance, charge, pledge, or hypothecation, or to execution,
attachment, levy, or similar process or assignment by operation of law, and any
attempt, voluntary or involuntary, to affect any such action shall be null,
void, and of no effect.

      (b)   This Agreement shall be binding upon, and inure to the benefit of,
Executive, the Holding Company and their respective successors and assigns.

                                       5
<PAGE>

8.    MODIFICATION AND WAIVER

      (a)   This Agreement may not be modified or amended except by an
instrument in writing signed by the parties hereto.

      (b)   No term or condition of this Agreement shall be deemed to have been
waived, nor shall there be any estoppel against the enforcement of any provision
of this Agreement, except by written instrument of the party charged with such
waiver or estoppel. No such written waiver shall be deemed a continuing waiver
unless specifically stated therein, and each such waiver shall operate only as
to the specific term or condition waived and shall not constitute a waiver of
such term or condition for the future or as to any act other than that
specifically waived.

9.    REQUIRED REGULATORY PROVISIONS

      Any payments made to Executive pursuant to this Agreement, or otherwise,
are subject to and conditioned upon compliance with 12 U.S.C. ss.1828(k) and any
rules and regulations promulgated thereunder, including 12 C.F.R. Part 359.

10.   SEVERABILITY

      If, for any reason, any provision of this Agreement, or any part of any
provision, is held invalid, such invalidity shall not affect any other provision
of this Agreement or any part of such provision not held so invalid, and each
such other provision and part thereof shall, to the full extent consistent with
law, continue in full force and effect.

11.   HEADINGS FOR REFERENCE ONLY

      The headings of sections and paragraphs herein are included solely for
convenience of reference and shall not control the meaning or interpretation of
any of the provisions of this Agreement. In addition, references to the
masculine shall apply equally to the feminine.

12.   GOVERNING LAW

      The validity, interpretation, performance, and enforcement of this
Agreement shall be governed by the laws of the State of New Jersey.

13.   ARBITRATION

      Any dispute or controversy arising under or in connection with this
Agreement shall be settled exclusively by arbitration, conducted before a panel
of three arbitrators sitting in a location selected by Executive within fifty
(50) miles from the location of the Bank's main office, in accordance with the
rules of the American Arbitration Association then in effect. Judgment may be
entered on the arbitrator's award in any court having jurisdiction; provided,
however, that Executive shall be entitled to seek specific performance of his
right to be paid until

                                       6
<PAGE>

the Date of Termination during the pendency of any dispute or controversy
arising under or in connection with this Agreement.

14.   PAYMENT OF COSTS AND LEGAL FEES

      All reasonable costs and legal fees paid or incurred by Executive pursuant
to any dispute or question of interpretation relating to this Agreement shall be
paid or reimbursed by the Bank (which payments are guaranteed by the Holding
Company pursuant to Section 5 of this Agreement) if Executive is successful with
respect to such dispute or question of interpretation pursuant to a legal
judgment, arbitration or settlement.

15.   INDEMNIFICATION

      The Bank shall provide Executive (including Executive's heirs, executors
and administrators) with coverage under a standard directors' and officers'
liability insurance policy at its expense and shall indemnify Executive (and
Executive's heirs, executors and administrators) to the fullest extent permitted
under New Jersey law against all expenses and liabilities reasonably incurred by
him in connection with or arising out of any action, suit or proceeding in which
he may be involved by reason of his having been a director or officer of the
Bank (whether or not he continues to be a director or officer at the time of
incurring such expenses or liabilities); such expenses and liabilities to
include, but not to be limited to, judgments, court costs and attorneys' fees
and the cost of reasonable settlements.

16.   SUCCESSOR TO THE BANK

      The Bank shall require any successor or assignee, whether direct or
indirect, by purchase, merger, consolidation or otherwise, to all or
substantially all the business or assets of the Bank, to expressly and
unconditionally assume and agree to perform the Bank's obligations under this
Agreement in the same manner and to the same extent that the Bank would be
required to perform such obligations if no such succession or assignment had
taken place.

                                       7
<PAGE>

                                   SIGNATURES

      IN WITNESS WHEREOF, First Savings Bank has caused this Agreement, as
amended and restated, to be executed by their duly authorized officers, and
Executive has signed this Agreement, on the ______ day of ____________, 200__.

ATTEST:                             FIRST SAVINGS BANK

                                        By:
-------------------------------             ------------------------------------

SEAL

ATTEST:                                 FIRST SENTINEL BANCORP, INC.
                                        (Guarantor)

                                        By:
-------------------------------             ------------------------------------

WITNESS:                                    EXECUTIVE

-------------------------------             ------------------------------------

                                       8

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