Document:

Form of OceanFirst Financial Corp. 2011 Stock Incentive Plan Award Agreement

 Exhibit 10.25 
 OCEANFIRST FINANCIAL CORP. 
 2011 STOCK INCENTIVE PLAN 

STOCK OPTION AWARD AGREEMENT 
  

							
	Name of Recipient:	 	  
	  	
			
	Number of Shares Subject to this Option	 	  
	  	
		
	Exercise Price per Share:	 	$                           
 
		
	Type of Option:	 	          Incentive Stock Option

         Non-Statutory Stock Option

				
	Option Term/Expiration Date:	 	  
	 		  	
		
	Payment of Exercise Price:	 	The Exercise Price may be paid by delivery of any combination of cash, Common Stock or other consideration (to the permitted under the Plan and approved by the
Committee) having a Fair Market Value on the exercise date equal to the total Exercise Price, including a cashless exercise arrangement with a qualifying broker-dealer or a constructive stock swap or “net exercise” as specified by the
Committee.
				
	Date of Grant:	 	  
	 		  	
		
	Vesting Schedule:	 	This Option may be exercised, in whole or in part, only in accordance with the vesting schedule set forth in Exhibit A to this Option Award
Agreement.
		
	Voting:	 	The Recipient will have voting rights over the Common Stock actually acquired only upon the exercise of the Option and acquisition of the Common Stock.
		
	Distribution:	 	Shares of Common Stock subject to the Option will be distributed as soon as practicable upon exercise.
		
	Designation of Beneficiary:	 	A Beneficiary may be designated in writing (subject to such requirements as the Committee may specify in its discretion) to receive, in the event of death, any Award to
which the Recipient would be entitled pursuant to the OceanFirst Financial Corp. 2011 Stock Incentive Plan (the “Plan”) under this Option Award Agreement.

			
	Term of Options:	 	This Option may be exercised during its term in accordance with the Vesting Schedule set forth in Exhibit A and the applicable provisions of the Plan and this Option Award
Agreement. In no event may this Option be exercised after the Expiration Date set forth above (the “Expiration Date”).
		
	Effect of termination of employment or service because of:	 	
		
	 (a)    Death or Disability:
	 	Options which have not yet vested, vest upon termination due to death or Disability. All Options are exercisable for one year after termination, or, if sooner, until the Expiration
Date of the Options.
		
	 (b)    Retirement:
	 	All unexercised Options that are vested as of the date of termination are exercisable for a period of three years following termination, or, if sooner, until the Expiration Date of
the Option. All unvested Options are forfeited and the rights to such unvested Options cease upon termination.
		
	 (c)    Cause:
	 	All unvested Options and all vested Options not yet exercised expire immediately upon termination.
		
	 (d)    Other Reasons:
	 	Unless otherwise determined by the Committee, all unexercised Options that are vested as of the date of termination are exercisable for a period of three months following
termination, or, if sooner, until the Expiration Date of the Option. All unvested Options are forfeited and the rights to such unvested Options cease upon termination.
		
	Non-Transferability:	 	Options are nontransferable, voluntarily or involuntarily, other than by will or the laws of descent or distribution or pursuant to a qualified domestic relations order as defined
by the Code, unless determined otherwise by the Committee. The terms of the Plan and this Option Award Agreement shall be binding upon the executors, administrators, heirs, successors and assigns of the Recipient.

The Committee hereby grants to the individual named above (“Recipient”) an Option to purchase the number of Shares at the per Share Exercise
Price set forth above, subject to the terms and conditions set forth in this Option Award Agreement and in the Plan. In the event of a conflict between the terms and conditions of the Plan and the terms and conditions of this Option Award Agreement,
the terms and conditions of the Plan shall prevail. 

  
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 If designated as an Incentive Stock Option, this Option is intended to qualify as an Incentive Stock Option
under Code Section 422. However, if this Option is intended to be an Incentive Stock Option, to the extent that it exceeds the $100,000 rule of Code Section 422(d), it shall be treated as a Non-Statutory Stock Option. 

This Option is exercisable by delivery of an exercise notice, in the form attached hereto as Exhibit B (the “Exercise Notice”), which shall
state the election to exercise the Option, the number of Shares in respect to which the Option is being exercised, and such other representations and agreements as may be required by the Committee pursuant to the provisions of the Plan. The Exercise
Notice shall be accompanied by payment of the aggregate Exercise Price as to all Shares for which the Option is exercised. The Option shall be deemed to be exercised upon receipt by the Holding Company of the fully executed Exercise Notice
accompanied by the aggregate Exercise Price. No Shares will be issued pursuant to the exercise of this Option unless such issuance and exercise complies with applicable laws. The Recipient agrees to make appropriate arrangements with the Holding
Company (or parent or subsidiary employing or retaining the Recipient) for satisfaction of any Federal, state, local and foreign income and employment tax withholding requirements applicable to the Option exercise. Recipient acknowledges and agrees
that the Holding Company may refuse to honor the exercise and deliver Shares if such withholding amounts are not delivered at the time of exercise. 
 If Recipient sells or otherwise disposes of any Shares acquired pursuant to an Incentive Stock Option on or before the later of (i) two years after the Date or Grant, or (ii) one year after the
date the Option is exercised, the Recipient shall notify the Committee of such disposition within ten (10) days of such sale or disposition. 
 Neither the Plan nor this Option Award Agreement create any right on the part of any Employee to continue in the employ of OceanFirst Bank, OceanFirst Financial Corp. or any affiliates thereof. Unless
otherwise defined herein, all capitalized terms herein shall have the same meaning as those contained in the Plan. 
 This Option and the Shares
acquired pursuant to this Option are subject to forfeiture or “clawback” to the extent required by law or pursuant to such forfeiture or clawback policy as has been or may be adopted by the Holding Company’s Board of Directors from
time to time. 
 The Recipient hereby acknowledges that all decisions, determinations and interpretations of the Board of Directors or the
Committee in respect of the Plan and this Option Award Agreement shall be final and conclusive. 
 The Plan is incorporated herein by reference.
The Plan and this Option Award Agreement constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of the Holding Company and the Recipient with
respect to the subject matter hereof, and may not be modified adversely to the Recipient’s interest except by means of a writing signed by the Holding Company and the Recipient. This Option Award Agreement is governed by the internal
substantive laws, but not the choice of law rules, of Delaware. 

  
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 IN WITNESS WHEREOF, OceanFirst Financial Corp. has caused this Option Award Agreement to be
executed, and the Recipient has hereunto set his or her hand, as of the      day of         , 20    . 

 

			
	OCEANFIRST FINANCIAL CORP.
		
	By:	 	  

	
	RECIPIENT
	
	  

  
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 EXHIBIT A 
 VESTING CONDITIONS 

 EXHIBIT B 
 OCEANFIRST FINANCIAL CORP. 
 2011 STOCK INCENTIVE PLAN 

STOCK OPTION AWARD AGREEMENT 
 EXERCISE NOTICE 
 OceanFirst Financial Corp. 

[Address] 
 [Address] 

Attention:    [TITLE] 
 1. Exercise of Option. Effective as of today,                     , the undersigned
(“Purchaser”) hereby elects to purchase                     Shares (the “Shares”) of Common Stock of OceanFirst Financial
Corp. (the “Holding Company”) under and pursuant to the 2011 Stock Incentive Plan (the “Plan”) and the Stock Option Award Agreement dated
                     (the “Option Award Agreement”). The purchase price for the Shares shall be
$             as required by the Option Award Agreement. 

2. Delivery of Payment. Purchaser herewith delivers to the Holding Company the full purchase price for the Shares. 

3. Representations of Purchaser. Purchaser acknowledges that Purchaser has received, read and understood the Plan and the Option
Award Agreement and agrees to abide and be bound by their terms and conditions. 
 4. Rights as Shareholder. Until the
issuance (as evidenced by the appropriate entry on the books of the Holding Company or a duly authorized transfer agent of the Holding Company) of the Shares, no right to vote or receive dividends or other rights as a shareholder shall exist with
respect to the Shares subject to the Option Award Agreement. The Shares so acquired shall be issued to the Purchaser as soon as practicable after exercise of the Option. 
 5. Tax Consultation. Purchaser understands that Purchaser may suffer adverse tax consequences as a result of Purchaser’s purchase or disposition of the Shares. Purchaser represents that
Purchaser has consulted with any tax consultants deemed advisable in connection with the purchase or disposition of Shares and that Purchaser is not relying on the Holding Company for any tax advice. 

6. Entire Agreement; Governing Law. The Plan and Option Award Agreement are incorporated herein by reference. This Exercise
Notice, the Plan and the Option Award Agreement constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertaking and agreements of the Holding Company and

 
the Purchaser with respect to the subject matter hereof, and may not be modified adversely to the Purchaser’s interest except by means of a writing signed by the Holding Company and the
Purchaser. This Exercise Notice is governed by the internal substantive laws, but not the choice of law rules, of New Jersey. 
  

			
	Submitted by:
	
	PURCHASER
	
	  

	Signature
	
	  

	Print Name
	
	Accepted by:
	
	OCEANFIRST FINANCIAL CORP.
	
	  

	By
	
	  

	Date ReceivedForm of OceanFirst Financial Corp. 2011 Stock Incentive Plan Award Agreement

 Exhibit 10.26 
 OCEANFIRST FINANCIAL CORP. 
 2011 STOCK INCENTIVE PLAN 

STOCK AWARD AGREEMENT 
  

							
	Name of Recipient:	 	  
	 	
			
	Total Stock Award:	 	  
	 	Shares
		
	Vesting:	 	This Stock Award is subject to the time-based and performance-based conditions set forth in Exhibits A and B to this Award Agreement, which are incorporated herein by
reference. No Shares subject to this Stock Award shall be vested until the Committee certifies that these performance-based conditions set forth in Exhibit B, if any, have been attained. The Committee cannot delegate this certification
function.
		
	Qualified Performance-Based Award:	 	              Yes

             No

				
	Date of Grant:	 	  
	 		 	
				
	Effect of termination of employment or service because of:	 		 		 	
		
	(a) Death or Disability	 	All unvested Shares subject to this Stock Award vest immediately upon such termination.
		
	(b) Cause:	 	All unvested Shares subject to this Stock Award shall be forfeited as of the date of termination and any rights the Recipient had to such Shares become null and
void.
		
	(c) Other Reasons:	 	Unless otherwise determined by the Committee, all unvested Shares subject to this Stock Award shall be forfeited as of the date of termination and any rights the
Recipient had to such Shares become null and void.
		
	Voting:	 	Recipient is entitled to direct the Trustee as to the voting of Shares subject to this Stock Award that have been granted, but have not yet been earned and
distributed.

			
	Non-Transferability:	 	 The Recipient of this Stock Award shall not sell, transfer, assign, pledge or otherwise encumber Shares subject to this Stock Award
until full vesting of such Shares has occurred. The period of time between the Date of Grant and the date Shares subject to this Award Agreement become vested is referred to herein as the “Restricted Period.” All certificates representing
Shares subject to this Award Agreement shall have endorsed thereon the following legend: “The Shares represented by this certificate are subject to an agreement between the Holding Company and the registered holder, a copy of which is on file
at the principal office of the Holding Company.”
  
 Unless determined
otherwise by the Committee and except in the event of the Recipient’s death or pursuant to a domestic relations order, this Stock Award is not transferable and may be earned only in the Recipient’s lifetime. Upon the death of the
Recipient, this Stock Award is transferable by will or the laws of descent and distribution. The terms of the OceanFirst Financial Corp. 2011 Stock Incentive Plan (the “Plan”) and this Stock Award Agreement shall be binding upon the
executors, administrators, heirs, successors and assigns of the Recipient.
  

In the event the Recipient is subject to the provisions of Section 16 of the Securities Exchange Act of 1934, as amended, the Committee must give written
consent to permit the Shares subject to this Stock Award Agreement to be sold or otherwise disposed of within six (6) months following the Date of Grant of this Stock Award.

		
	Distribution:	 	The certificate or certificates evidencing Shares subject to this Stock Award shall be delivered to and deposited with a trustee or with the Secretary of the Holding Company as
Escrow Agent in this transaction (either referred to herein as the “Trustee”). Such certificates are to be held by the Trustee until termination of the Restricted Period. Shares of Common Stock, plus any dividends and earnings on such
Shares, will be distributed as soon as practicable upon termination of the Restricted Period.
		
	Designation of Beneficiary:	 	A Beneficiary may be designated in writing (subject to such requirements as the Committee may specify in its discretion) to receive in the event of death, any Award to which the
Recipient would be entitled pursuant to the Plan under the Stock Award Agreement.

 The Committee hereby grants to the individual
named above (“Recipient”) a Stock Award for the number of Shares listed above, subject to the terms and conditions of the Plan and this Stock Award Agreement. In the event of a conflict between the terms and conditions of the Plan and the
terms and conditions of this Stock Award Agreement, the terms and conditions of the Plan shall prevail. 

  
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 Neither the Plan nor this Stock Award create any right on the part of an employee to continue in the service
of OceanFirst Bank, OceanFirst Financial Corp. or any affiliates thereof. Unless otherwise defined herein, all capitalized terms herein shall have the same meaning as those contained in the Plan. 

The Holding Company shall not be required to transfer on its books any Shares which have been sold or transferred in violation of any of the provisions
set forth in this Stock Award Agreement. The parties agree to execute such further instruments and take such actions as may be reasonably necessary to carry out the intent of this Stock Award Agreement. 

The Recipient agrees to make appropriate arrangements with the Holding Company (or parent or subsidiary employing or retaining the Recipient) for
satisfaction of any Federal, state, local and foreign income and employment tax withholding requirements applicable to Shares subject to this Award Agreement. The Recipient represents that the Recipient has consulted with any tax consultants deemed
advisable in connection with this Stock Award and that Recipient is not relying on the Holding Company for any tax advice. 
 This Stock Award
and any Shares covered by this Stock Award are subject to forfeiture or “clawback” to the extent required by law or pursuant to such forfeiture or clawback policy as has been or may be adopted by the Holding Company’s Board of
Directors from time to time. 
 The Recipient hereby acknowledges that all decisions, determinations and interpretations of the Board of
Directors or the Committee in respect of the Plan and this Stock Award Agreement shall be final and conclusive. 
 The Plan is incorporated
herein by reference. The Plan and this Stock Award Agreement constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of the Holding Company and
the Recipient with respect to the subject matter hereof, and may not be modified adversely to the Recipient’s interest except by means of a writing signed by the Holding Company and the Recipient. In the event of a conflict between the terms of
the Plan and this Stock Award Agreement, the terms of the Plan prevail. Unless otherwise defined herein, all capitalized terms herein shall have the same meaning as those contained in the Plan. This Stock Award Agreement is governed by the internal
substantive laws, but not the choice of law rules, of Delaware. 
 IN WITNESS WHEREOF, OceanFirst Financial Corp. has caused this Stock Award
Agreement to be executed, and said Recipient has hereunto set his or her hand, as of this      day of         , 20    . 

 

			
	OCEANFIRST FINANCIAL CORP.
		
	By:	 	  

	
	RECIPIENT
	
	  

  
 3 

 EXHIBIT A 
 TIME-BASED VESTING CONDITIONS 

 EXHIBIT B 
 PERFORMANCE-BASED VESTING CONDITIONS

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