Document:

Exhibit 4.15

 Exhibit 4.15 
 GREENPOINT FINANCIAL CORP. 
 NON-EMPLOYEE DIRECTORS 
 2001 STOCK OPTION PLAN 
 SECTION 1. Purpose;
Definitions. 
 The purpose of the Plan is to provide compensation to Non-Employee Directors in the form of Stock Options. 
 For purposes of the Plan, the following terms are defined as set forth below: 
 “Board” means the Board of Directors of the Company. 
 “Change of Control” means any of the following: 
 a. the acquisition by any
individual, entity or group (within the meaning of Section 13(d)(3) or I4(d)(2) of the Exchange Act) (a “Person”) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 20% or more of either
(i) the then outstanding shares of common stock of the Company (the “Outstanding Company Common Stock”) or (ii) the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the
election of directors (the “Outstanding Company Voting Securities”); provided, however, that for purposes of this subsection (a), the following acquisitions shall not constitute a Change of Control: (A) any acquisition directly from
the Company, (B) any acquisition by the Company, (C) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation controlled by the Company or (D) any acquisition by any
corporation pursuant to a transaction which complies with clauses (i), (ii) and (iii) of paragraph c; or 
 b.
individuals who, as of the effective date of the Plan, constitute the Board (the “Incumbent Board”) cease for any reason not to constitute at least a majority of the Board; provided, however, that any individual becoming a director
subsequent to the effective date of the Plan whose election, or nomination for election by the Company’s shareholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as
though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest with respect to the election or
removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board; or 
 c. consummation of a reorganization, merger or consolidation or sale or other disposition of all or substantially all of the assets of the Company (a “Business Combination”), in each case, unless, following
such Business Combination, (i) all or substantially all of the individuals and entities who were the beneficial owners, respectively, of the Outstanding Company Common Stock and Outstanding Company Voting Securities immediately prior to such
Business Combination beneficially own, directly or indirectly, more than 50% of, respectively, the then outstanding shares of 
  

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 common stock and the combined voting power of the then outstanding voting securities entitled to vote
generally in the election of directors, as the case may be, of the corporation resulting from such Business Combination (including, without limitation, a corporation which as a result of such transaction owns the Company or all or substantially all
of the Company’s assets either directly or through one or more subsidiaries) in substantially the same proportions as their ownership, immediately prior to such Business Combination of the Outstanding Company Common Stock and Outstanding
Company Voting Securities, as the case may be, (ii) no Person (excluding any employee benefit plan (or related trust) of the Company or such corporation resulting from such Business Combination) beneficially owns, directly or indirectly, 20% or
more of, respectively, the then outstanding shares of common stock of the corporation resulting from such Business Combination or the combined voting power of the then outstanding voting securities of such corporation except to the extent that such
ownership existed prior to the Business Combination and (iii) at least a majority of the members of the board of directors of the corporation resulting from such Business Combination were members of the Incumbent Board at the time of the
execution of the initial agreement, or of the action of the Board, providing for such Business Combination; or 
 d. approval
by the shareholders of the Company of a complete liquidation or dissolution of the Company. 
 “Code” means the Internal
Revenue Code of 1986, as amended from time to time, and any successor thereto. 
 “Company” means GreenPoint Financial
Corp., a Delaware corporation. 
 “ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time to
time, and any successor thereto. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time,
and any successor thereto. 
 “Fair Market Value” means as of any given date, the closing price of the Stock on the New York
Stock Exchange or on any national exchange on which the Stock is listed. If there is no regular public trading market for such Stock, the Fair Market Value of the Stock shall be determined by the Committee (as defined in Section 2(a)) in good
faith. 
 “Non-Employee Director” means a person who as of any applicable date is a member of the Board and is not an
officer or employee of the Company or any subsidiary of the Company. 
 “Non-Qualified Stock Option” means a Stock Option
that does not meet the requirements of Section 422 of the Code. 
 “Participant” means a Non-Employee Director who is
granted a Stock Option hereunder. 
 “Plan” means the GreenPoint Financial Corp. Non-Employee Directors 2001 Stock Option
Plan, as set forth herein and as hereinafter amended from time to time. 
  

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 “Stock” means the common stock, par value $.01 per share, of the Company. 
 “Stock Option” means an option to purchase shares of Stock. 
 “Termination of Directorship” means the date upon which any Participant ceases to be a member of the Board for any reason whatsoever. 
 In addition, certain other terms used herein have definitions given to them in the first place in which they are used. 
 SECTION 2. Administration. 
 a. Committee. The
Plan shall be administered by the Compensation Committee of the Board (the “Committee”), which shall consist of not less than three members of the Board, each of whom shall be a “non-employee director” as that term is used in
Rule 16b-3 as promulgated by the Securities and Exchange Commission or any successor agency under Section 16(b) of the Exchange Act (“Rule 16b-3”). Grants of Stock Options to Participants under the Plan and the amount, nature and
timing of the grants shall be automatically determined as described in Section 5 and shall not be subject to the determination of the Committee. 
 b. Authority of the Committee. Subject to certain specific limitations and restrictions set forth in the Plan, the Committee shall have full and final authority to interpret the Plan; to prescribe, amend and
rescind rules and regulations, if any, relating to the Plan; and to make all determinations necessary or advisable for the administration of the Plan. No member of the Committee shall be liable for anything done or omitted to be done by him or her
or by any other member of the Committee in connection with the Plan, except for his or her own willful misconduct or gross negligence. All decisions which are made by the Committee with respect to interpretation of the terms of the Plan and with
respect to any questions or disputes arising under the Plan shall be final and binding on the Company and the Participants, their heirs or beneficiaries. The Committee shall not be empowered to take any action, whether or not otherwise authorized
under the Plan, which would result in any Director of the Company failing to qualify as a “non-employee director”. 
 c. Acts of
the Committee. A majority of the Committee shall constitute a quorum and the acts of a majority of the members present at any meeting at which a quorum is present, or acts approved in writing by all members of the Committee without a meeting,
shall be the acts of the Committee. 
 SECTION 3. Stock Subject to Plan. 
 Subject to adjustment as provided herein, there may be granted under the Plan an aggregate of not more than 275,000 shares of Stock, which number includes 12,000 of the shares of Stock remaining available for awards
as of the date of adoption of the Plan under the Company’s Non-Employee Directors Stock Option Plan. 
 In the event of any change in
corporate capitalization (including, but not limited to, a change in the number of shares of Stock outstanding), such as a stock split or a corporate transaction, such as any merger, consolidation, separation, including a spin-off, or other

  

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 distribution of stock or property of the Company, any reorganization (whether or not such reorganization comes within the
definition of such term in Section 368 of the Code) or any partial or complete liquidation of the Company, the Committee or Board may make such substitution or adjustments in the aggregate number of shares of Stock reserved for issuance under
the Plan, and the number and option price of shares of Stock subject to outstanding Stock Options, and/or such other equitable substitution or adjustments as it may determine to be appropriate in its sole discretion; provided, however, that
the number of shares subject to any Stock Option shall always be a whole number. 
 SECTION 4. Eligibility. 
 Only individuals who are Non-Employee Directors are eligible to be granted Stock Options under the Plan. 
 SECTION 5. Stock Options. 
 a. Initial Grants.
Each Non-Employee Director shall initially receive, within thirty days after initial election to office, a Non-Qualified Stock Option to purchase 10,000 shares of Stock at a price equal to the Fair Market Value at the time of the grant of the shares
of Stock subject to such Non-Qualified Stock Option (the “Initial Grant”). 
 b. Annual Grants. Prior to termination of the
Plan pursuant to Section 6, on the day following the Company’s Annual Meeting commencing with its Annual Meeting in 2001, such Non-Employee Director shall receive a Non-Qualified Stock Option to purchase 4,000 shares of Stock at a price
equal to the Fair Market Value at the time of the grant of the shares of Stock subject to such Non-Qualified Stock Option, provided such individual shall continue to be a Non-Employee Director. 
 c. Insufficient Shares of Stock. In the event that the number of shares of Stock available for grant under the Plan is insufficient to make all
grants required to be made on a given date, then all Non-Employee Directors entitled to a grant on such date shall share ratably in the number of Stock Options on shares available for grant under the Plan. 
 d. Additional Terms and Conditions. Stock Options granted under the Plan shall be subject to the following terms and conditions in addition to
those set forth above: 
  

	 	1.	Option Term. The term of each Stock Option shall be 10 years from the date the Stock Option is granted. 

  

	 	2.	Exercisability. Other than the Initial Grant, Stock Options shall be fully exercisable one year after the date of grant. Stock Options subject to the Initial Grant shall
become exercisable with respect to 6,000 shares, one year after the date of grant, and with respect to an additional 2,000 shares on each of the second and third anniversaries of the date of grant. 

 All Stock Options shall become immediately exercisable upon the death, retirement or disability of a Non-Employee Director or upon a Change of Control of
the Company. 
  

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	 	3.	Method of Exercise. Subject to the provisions of this Section 5, Stock Options may be exercised, in whole or in part, at any time during the option term by giving
written notice of exercise to the Company specifying the number of shares of Stock subject to the Stock Options to be purchased. 

 Such notice shall be accompanied by payment in full of the purchase price by certified or bank check or such other instrument as the Company may accept. Stock Options may be exercised pursuant to a “cashless exercise” of a Stock
Option (i.e., payment of the purchase price may be made, in whole or in part, through the surrender of shares of Common Stock at the Fair Market Value of such shares on the date of surrender) in accordance with applicable securities laws.

 No shares of Stock shall be issued until full payment therefor has been made. An optionee shall have all of the rights of a stockholder of
the Company holding the class or series of Stock that is subject to such Stock Option (including, if applicable, the right to vote the shares and the right to receive dividends), when the optionee has given written notice of exercise, has paid in
full for such shares and, has given the representation described in Section 7(a). 
  

	 	4.	Non-transferability of Stock Options. No Stock Option shall be transferable by the optionee other than (i) by will or by the laws of descent and distribution;
(ii) as otherwise expressly permitted by the Committee including, if so permitted, pursuant to a transfer to such optionee’s immediate family, whether directly or indirectly or by means of a trust or partnership or otherwise; or
(iii) pursuant to a qualified domestic relations order (as defined in the Code or ERISA). For purposes of this Plan, unless otherwise determined by the Committee, “immediate family” shall mean the optionee’s children, spouse and
grandchildren. All Stock Options shall be exercisable, subject to the terms of this Plan, only by the optionee, the guardian or legal representative of the optionee, or any person to whom such Stock Option is transferred pursuant to this paragraph,
it being understood that the term “optionee” includes such guardian, legal representative and other transferee. 

  

	 	5.	Termination. If a Termination of Directorship occurs for any reason, any Stock Option held by such Participant shall continue to be exercisable, in accordance with its terms
and may be exercised for the balance of such Stock Option’s term. 

 SECTION 6. Term, Amendment and Termination. 
 The Plan will terminate on the tenth anniversary of the effective date of the Plan. Under the Plan, Stock Options outstanding as of such date shall not be
affected or impaired by the termination of the Plan. 
 The Board may amend, alter, or discontinue the Plan, but no amendment, alteration or
discontinuation shall be made which would (a) impair the rights of an optionee under a Stock Option without the optionee’s consent, except such an amendment made to comply with 
  

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 applicable law, stock exchange rules or accounting rules, or (b) disqualify the Plan from the exemption provided by
Rule 16b-3. In addition, (a) no amendment shall be made without the approval of the Company’s stockholders to the extent such approval is required by applicable law or stock exchange rules and (b) the Plan shall not be amended more
often than once every six months, other than to comport with changes in the Code, ERISA, or the rules thereunder. 
 Subject to the above
provisions, the Board shall have the authority to amend the Plan to take into account changes in law and accounting rules as well as other developments, and to grant Stock Options which qualify for beneficial treatment under such rules without
stockholder approval. 
 SECTION 7. General Provisions. 
 a. Unless the shares have been registered under the Securities Act of 1933, as amended, each person purchasing or receiving shares of Stock pursuant to a Stock Option shall represent to and agree with the Company in
writing that such person is acquiring the shares of Stock without a view to the distribution thereof. The certificates for such shares of Stock shall include an appropriate legend to reflect the restrictions on transfer. 
 b. Nothing contained in the Plan shall prevent the Company or any subsidiary from adopting other or additional compensation arrangements for its
Non-Employee Directors. 
 c. No later than the date as of which an amount first becomes includible in the gross income of the Participant
for Federal income tax purposes with respect to any Stock Option awarded under the Plan, the Participant shall pay to the Company, or make arrangements satisfactory to the Company regarding the payment of, any Federal, state, local or foreign taxes
of any kind required by law to be withheld with respect to such amount. Withholding obligations may, at the election of the optionee (which election shall be subject to compliance with requirements of Rule 166-3), be settled with Stock, including
Stock that is part of the Stock Option that gives rise to the withholding requirement. The obligations of the Company under the Plan shall be conditional on such payment or arrangements, and the Company shall, to the extent permitted by law, have
the right to deduct any such taxes from any payment otherwise due to the Participant. 
 d. The Plan and all Stock Options awarded and
actions taken thereunder shall be governed by and construed in accordance with the laws of the State of Delaware. 
 SECTION 8. Effective Date of Plan.

 The Plan shall be adopted by the Board and presented to stockholders of the Company for their approval. Stock Options may be granted
prior to such approval but are contingent upon such approval being obtained. 
  

 B-6Exhibit 4.16

 Exhibit 4.16 
 1993 INCENTIVE STOCK OPTION PLAN 
 1. Purpose of the Plan. The purpose of this 1993 Incentive Stock Option Plan
(“Plan”) is to encourage stock ownership by officers of The Trust Company of New Jersey (the “Company”), to provide additional incentive for them to promote the successful business operations of the Company, to encourage them to
remain in the employ of the Company and to attract new officers. 
 2. Definitions. As used in the Plan, unless the context requires otherwise, the
following terms shall have the meanings specified hereinafter: 
 (a) “Committee” shall mean the stock option committee of the Board
provided in Section 4 of the Plan. 
 (b) “Common Stock” shall mean the Common Stock, par value $2.00 per share, of the
Company, or, if another security is substituted for the Common Stock pursuant to the adjustment provisions of Section 8, such other security. 
 (c) “Fair Market Value” shall mean the greater of (i) $2.00 per share and (ii) the average of the over-the-counter bid and asked prices for a share of the Common Stock on the Grant Date or other relevant date; provided,
that if in the opinion of the Committee the trading activity of the Common Stock is deemed not to constitute a representative market price, the Committee shall have the discretion to engage an independent party to determine Fair Market Value for
this purpose. 
 (d) “Option” shall mean the right to purchase one or more shares of Common Stock granted under Section 6 of
the Plan. 
 (e) “Grant Date” shall mean the date on which an option is granted. 
 (f) “Optionee” shall mean an officer to whom an Option has been granted under the plan. 
 (g) “Board” shall mean the Board of Directors of the Company. 
 (h) “Code” shall mean the Internal Revenue Code of 1986, as amended. 
 (i) The term
“officer” shall mean any officer or other key employee of the Company, as determined by the Committee. 
 (j) “Suspend”,
“Suspended” or “Suspension”, when referring to the employment of an Optionee, shall mean the reasonable determination by the Board of Directors or the President of the Company that the Optionee’s performance of his duties or
the Optionee’s conduct warrants an investigation by management in order to determine whether or not the Optionee’s employment should be terminated. The duties of an Optionee may but need not be limited by management while the
Optionee’s employment is so Suspended, and the Optionee will be deemed by management to be an employee who is not in good standing. 

 (k) “Suspended Optionee” shall mean an Optionee whose employment has been Suspended.

 (l) “Suspension Period” shall mean the time period beginning with the date on which the Board of Directors or President of the
Company makes its determination that the investigation of the Optionee is warranted and ending on the date the Company (i) terminates the employment of a Suspended Optionee or (ii) determines to continue the employment of a Suspended
Optionee and terminate any investigation of such Optionee. 
 3. Stock Subject to the Plan. There will be reserved for use upon the exercise of
Options granted from time to time under the Plan an aggregate of up to 450,000 authorized but unissued shares of Common Stock, subject to adjustment as provided in Section 8 hereof. If any Option granted under the Plan should expire or terminate for
any reason without having been exercised in full, the unpurchased shares shall again become available for the grant of Options under the Plan. 
 4.
Administration of the Plan. The Board shall appoint a Stock Option Committee (“Committee”) which shall consist of not less than three nor more than five members of the Board, none of whom shall be officers or employees of the Company.
No member of the Committee, while a member, shall be at present, or within one year shall have been, eligible to participate in any plan of the Company pursuant to which equity securities could be granted. Subject to the provisions of the Plan, the
Committee shall have full discretion: 
 (a) To designate the officers of the Company, as described above, to whom Options shall be granted,
the number of shares to be covered by each of the Options, and the time or times at which Options shall be granted; 
 (b) To interpret the
Plan; 
 (c) To promulgate, amend and rescind rules and regulations relating to the Plan; 
 (d) To subject any Option to such terms and conditions as the Committee may specify when granting the Option, including without limitation additional
restrictions or conditions on the exercise of an Option; 
 (e) To modify at any time and for any reason the vesting schedule set forth in
Section 6(c) of the Plan for any or all outstanding Options or for any or all Options to be granted in the future; provided, however, that the Committee shall not lengthen the vesting schedule for any outstanding Option; and 
 (f) To make all other determinations in connection with the administration of the Plan. 
 The Board may, from time to time, appoint members of the Committee in substitution for or in addition to members previously appointed and may fill
vacancies, however caused, in the Committee. The Board shall designate one of the members of the Committee as its chairman. The Committee shall hold its meetings at such times and places as it shall deem advisable. A 
  

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 majority of its members shall constitute a quorum. All action of the Committee may be taken by a written instrument
signed by a majority of the members and action so taken shall be fully effective as if it had been taken by a vote of the majority of the members at a meeting duly called and held. The Committee shall make such rules and regulations for the conduct
of its business as it shall deem advisable. The committee shall also appoint a secretary, who may be the secretary of the Company, to keep minutes of the meetings of the Committee. The Plan shall be so administered as to qualify the Options granted
under it as incentive stock options pursuant to Section 422A of the Code, as it may be amended from time to time. 
 5. Employees Eligible. All
officers of the Company, as defined above, shall be eligible to receive Options under the Plan. In selecting officers to whom Options shall be granted, and in determining the number of shares to be covered by each Option, the Committee may take into
consideration any factors it may deem relevant, including its estimate of the officer’s present and potential contribution to the success of the Company. 
 6. Options. 
 (a) Option Grant. The Committee shall, from time to time, select the officers to whom Options will be
granted and shall determine the number of shares to be covered by each Option. The Fair Market Value (determined at the time the Options are granted) of Common Stock with respect to which Options are exercisable for the first time by any person
during any calendar year (under this Plan and all other plans of the Company) cannot be greater than $100,000. 
 (b) Option Price.
The price at which shares of Common Stock shall be purchased under an Option shall not be less than the Fair Market Value of such shares on the Grant Date, except that if the Optionee owns stock possessing more than 10% of the total combined voting
power of all classes of stock of the Company, than (i) the price at which shares of Common Stock shall be purchased under an Option shall not be less than 110% of the Fair Market Value of such shares on the Grant Date and (ii) the Options
shall not be exercisable after the expiration of 5 years from the grant date. For purposes of determining 10% ownership, (1) an officer will be considered to own stock owned directly or indirectly by or for his brothers and sisters (whether by
the whole or half blood), spouse, ancestors, and lineal descendants, and (2) stock owned directly or indirectly by or for a corporation, partnership, estate or trust shall be considered as being owned proportionately by or for its shareholders,
partners, or beneficiaries. 
 (c) Exercise of Options. Unless the Committee establishes otherwise or except as provided by Sections 7
and 9, each Option shall be exercisable in annual installments. No Option shall be exercisable for six months after the Grant Date. Thereafter, during the first year after an Option is granted, it may be exercised as to not more than 20% of the
shares covered thereby. During the first two years after an Option is granted, it may be exercised as to not more than 40% of the shares covered thereby. During the first three years after an Option is granted, it may be exercised as to not more
than 60% of the shares covered thereby. During the first four years after an Option is granted, it may be exercised as to not more than 80% of their shares covered thereby. An Option may be exercised at any time and from time to time as to all or
any part of the shares covered thereby following the first four years after it has been granted; but no Option shall be exercised after the expiration of ten (10) years from the date on which it was granted. 
  

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 (d) Method of Exercise. To the extent permitted by subparagraph (c) above, Optionees may
exercise their Options from time to time by giving written notice to the Company. The date of exercise shall be the date on which the Company receives an exercise notice. Such notice shall state the number of shares to be purchased and the desired
closing date, which date shall be at least fifteen days after the giving of such notice unless an earlier date shall have been mutually agreed upon. At the closing, the Company shall deliver to the Optionee (or other person entitled to exercise the
Option) at the principal office of the Company, or such other place as shall be mutually acceptable, a certificate or certificates for such shares against either (1) payment in full of the Option price for the number of share to be delivered,
by certified or bank cashier’s check, or (2) with the prior consent of the Committee, tender of a number of shares of the Common Stock to the Company having a Fair Market Value equal to the Option price times the number of shares being
purchased. The Committee shall have no obligation to permit the tender of shares in payment of the Option price. If the Optionee (or other person entitled to exercise the Option) shall fail to accept delivery of and pay for all or any part of the
shares specified in his notice when the Company shall tender such shares to him, his right to exercise the Option with respect to such unpurchased shares may be terminated. 
 7. Termination of Employment. If the Company shall terminate the employment of an Optionee for any reason other than for cause, all such Optionee’s Options shall terminate three months after the date upon
which such employment shall cease, but in any event, not later than the dates upon which the respective Options shall expire. If the Optionee shall voluntarily terminate his employment with the Company, or if the Company shall terminate the
employment of an Optionee for cause, all such Optionee’s Options shall terminate upon the date on which such employment shall cease. If the Company shall Suspend the employment of an Optionee, the Company shall not be obligated to issue any
shares upon the exercise by the Optionee of any Options held by him if the exercise occurs during the Suspension Period. Any documents tendered by the Optionee to the Company during the Suspension Period pursuant to an exercise will not be deemed to
be accepted by the Company during such Suspension Period, and any such exercise shall be governed by the provisions set forth in the following two sentences. If, at the conclusion of the Suspension Period the Company shall terminate the employment
of the Suspended Optionee, all such exercises shall be deemed void and the company shall return to the Optionee any documents tendered to effect an exercise, including the purchase price, without interest. If, at the conclusion of the Suspension
Period, the Company shall determine to continue the employment of the Suspended Optionee, the Company shall deliver share certificates to the Optionee with respect to all Options which were properly exercised (but for the Suspension) by the Optionee
during the Suspension Period as promptly as practicable after the date the Suspension Period ends. If the Optionee shall die or become disabled while he is employed by the Company, all such Optionee’s Options (except as otherwise determined by
the Committee) shall terminate one year after the date of death or disability of the Optionee, but in any event, not later than the dates upon which the respective Options shall expire. During such period, the Options may be exercised by the
Optionee or his personal representatives, next of kin, executors or legatees, as the case may be. No exercise permitted by this Section 7 shall entitle an Optionee or his personal representatives, next of kin, executors or legatees to exercise any
portion of any Option beyond the extent to which such Option is exercisable pursuant to Section 6(c) hereof on the date such Optionee’s employment with the company terminates. 
  

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 8. Changes in Capital Structure. In the event that there is a change in the capitalization of the Company, such as
by reason of a stock dividend, recapitalization, extraordinary dividend of cash or property, stock split-up, combination of shares, or other event which the Committee determines is dilutive to the holder of Options, then appropriate adjustments
shall be made by the Committee to the number and kind of shares reserved for issuance under the Plan upon the grant and exercise of Options. In addition, the Committee shall make appropriate adjustments to the number and kind of shares subject to
outstanding Options, and the purchase price per share thereunder shall be appropriately adjusted consistent with such change. In no event shall fractional shares be issued or issuable pursuant to any adjustment made under this Section 8. The
determination of the Committee as to any adjustment shall be final and conclusive. Notwithstanding anything contained in this Section 8, no adjustments shall be made by the Committee if such adjustments constitute the adoption of a new incentive
stock option plan with the meaning of Section 422A of the Code. 
 9. Mandatory Exercise. Notwithstanding anything to the contrary set forth in the
Plan, in the event that the Company should adopt a plan of reorganization pursuant to which it shall merge into, consolidate with, or sell its assets to, any other corporation or entity or if the Company should adopt a plan of complete liquidation,
the Company may give an Optionee written notice thereof requiring such Optionee either (a) to exercise the Option within thirty days after receipt of such notice, including all installments whether or not they would otherwise be exercisable at that
date, or (b) to surrender such Option or any unexercised portion thereof. Any portion of such Option which shall not have been exercised in accordance with the provisions of the Plan by the end of such 30-day period shall automatically lapse
irrevocably and the Optionee shall have no further rights thereunder. 
 10. Option Agreement. Each grant of an Option under the Plan will be
evidenced by an agreement in such form as the Committee may from time to time approve. Such agreement will contain such provisions as the Committee may in its discretion deem advisable, including without limitation additional restrictions or
conditions upon the exercise of an Option. The Committee may require an Optionee, as a condition to the grant or exercise of an Option or the issuance or delivery of shares upon the exercise of an Option or the payment therefor, to make such
representations and warranties and to execute and deliver such notices of exercise and other documents as the committee may deem consistent with the Plan or the terms and conditions of the Option agreement. Not in limitation of any of the foregoing,
in any such case referred to in the preceding sentence the Committee may also require the Optionee to execute and deliver documents containing such representations, warranties and agreements as the Committee or counsel to the Company shall deem
necessary or advisable to comply with any applicable Federal or State securities laws, and any other applicable law, regulation or rule. 
 11. Listing;
Registration. If at any time the Board determines, in its discretion, that the listing, registration or qualification of any of the stock subject to Options under the Plan upon any securities exchange or under any state or federal law, or the
consent or approval of any governmental regulatory body, is necessary or desirable as a condition of or in connection with granting Options under the Plan or the purchase or issue of stock thereunder, no further Options 
  

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 need be granted, the exercise of outstanding Options may be deferred, and the Company shall not be obligated to issue or
deliver any shares, until such action can be taken or consent or approval can be obtained at the Company’s expense, free of any condition unacceptable to the Board. 
 12. Tax Withholding. The Company, as and when appropriate, shall have the right to require each Optionee purchasing or receiving shares of Common Stock under the Plan to pay any federal, state, or local taxes
required by law to be withheld with respect to the receipt of Common Stock. 
 13. Non-assignability. No Option shall be assignable or transferable by
the Optionee except by will or the laws of descent and distribution, in which events the terms of this Plan, including all restrictions and limitations set forth herein, shall continue to apply to the transferee. Each Option shall be exercisable
only by the Optionee during his lifetime. 
 14. Optionee’s Rights as Shareholder. An Optionee shall have no rights as a shareholder of the
Company with respect to any shares subject to an Option until the Option has been exercised and the certificate with respect to the shares purchased upon exercise of the Option has been duly issued and registered to the name of the Optionee.

 15. Term. No Option shall be granted under the Plan more than ten (10) years after the date of the last meeting of the shareholders of the Company
at which they adopted or approved the Plan or the date on which the Board adopted the Plan, whichever is earlier; the Plan may be resubmitted to the shareholders for their approval at any time during or at the end of any such ten-year period.

 16. Adoption and Ratification. This Plan has been adopted by the Board subject to ratification by the shareholders of the Company and filing with
the Commissioner of the Department of Banking of the State of New Jersey. The effective date of the Plan may also be delayed pending satisfaction of the requirements of Section 11. This Plan shall terminate unless ratified by the shareholders within
one year of adoption by the Board. 
 17. Termination and Amendment. The Board may at any time terminate or amend the Plan or any Option then
outstanding as it may deem advisable; provided, however, that no such amendment may be made without shareholder approval if such approval is required by Rule 16b-3 under the Securities Exchange Act of 1934. 
 18. Indemnification of Committee. In addition to such other rights of indemnification as they may have as directors or as members of the Committee, the members of
the Committee shall be indemnified by the Company against and reimbursed for the reasonable expenses, including attorney’s fees, actually and necessarily incurred in connection with the defense of any action, suit or proceeding or in connection
with any appeal therein, to which they or any of them may be a party by reason of any action taken or failure to act under or in connection with the Plan or any option granted thereunder, and against and for all amounts paid by them in settlement
thereof (provided such settlement is approved by independent legal counsel selected by the Company) or paid by them in satisfaction of a judgment in any such action, suit or proceeding, except in relation to matters as to which it shall be adjudged
in such action, suit or proceeding, or (in the event of settlement) by a disinterested majority of the Board or of any disinterested group of 
  

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 persons to whom the question may be referred by the Board, that such Committee member is guilty of bad faith in the
performance of his duties; provided that within 60 days after institution of any such action, suit or proceeding, the Committee member seeking indemnification shall have offered the Company in writing the opportunity, at its own expense, to handle
and defend the same. 
 19. Governing Law. The option agreements authorized under the Plan shall be governed by and construed under the laws of the
State of New Jersey. 
  

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