Preview | Employee Stock Ownership Plan |

NORTHFIELD BANK
EMPLOYEE STOCK OWNERSHIP PLAN

This Employee Stock Ownership Plan, executed on the day of , 2007, by Northfield Bank, a federally chartered stock savings bank (the ?Bank?),

W I T N E S S E T H T H A T

WHEREAS, the board of trustees of the Bank has resolved to adopt an employee stock ownership plan for eligible employees of the Bank and subsidiaries of the Bank, if any, in accordance with the terms and conditions presented set forth herein;

NOW, THEREFORE, the Bank hereby adopts the following Plan setting forth the terms and conditions pertaining to contributions by the Employer and the payment of benefits to Participants and Beneficiaries.

IN WITNESS WHEREOF, the Bank has adopted this Plan and caused this instrument to be executed by its duly authorized officers as of the above date.


ATTEST:

	By:
Secretary		Authorized Officer

C O N T E N T S


			Page No.
Section 1.		Plan Identity		4
	1.1	Name		4
	1.2	Purpose		4
	1.3	Effective Date		4
	1.4	Fiscal Period		4
	1.5	Single Plan for All Employers		4
	1.6	Interpretation of Provisions		4
Section 2.		Definitions		4
Section 3.		Eligibility for Participation		11
	3.1	Initial Eligibility		11
	3.2	Definition of Eligibility Year		12
	3.3	Terminated Employees		12
	3.4	Certain Employees Ineligible		12
	3.5	Participation and Reparticipation		13
	3.6	Omission of Eligible Employee		13
	3.7	Inclusion of Ineligible Employee		13
Section 4.		Contributions and Credits		13
	4.1	Discretionary Contributions		13
	4.2	Contributions for Stock Obligations		13
	4.3	Conditions as to Contributions		14
	4.4	Rollover Contributions		14
Section 5.		Limitations on Contributions and Allocations		14
	5.1	Limitation on Annual Additions		14
	5.2	Effect of Limitations		16
	5.3	Limitations as to Certain Participants		16
	5.4	Erroneous Allocations		17
Section 6.		Trust Fund and Its Investment		17
	6.1	Creation of Trust Fund		17
	6.2	Stock Fund and Investment Fund		17
	6.3	Acquisition of Stock		17
	6.4	Participants? Option to Diversify		18
Section 7.		Voting Rights and Dividends on Stock		19
	7.1	Voting and Tendering of Stock		19
	7.2	Application of Dividends		19
Section 8.		Adjustments to Accounts		21
	8.1	ESOP Allocations		21
	8.2	Charges to Accounts		21
	8.3	Stock Fund Account		21
	8.4	Investment Fund Account		22
	8.5	Adjustment to Value of Trust Fund		22
	8.6	Participant Statements		22
Section 9.		Vesting of Participants? Interests		22
	9.1	Deferred Vesting in Accounts		22
	9.2	Computation of Vesting Years		22
	9.3	Full Vesting Upon Certain Events		23
	9.4	Full Vesting Upon Plan Termination		24
	9.5	Forfeiture, Repayment, and Restoral		24
	9.6	Accounting for Forfeitures		25


	9.7	Vesting and Nonforfeitability	25
Section 10.		Payment of Benefits	25
	10.1	Benefits for Participants	25
	10.2	Time for Distribution	26
	10.3	Marital Status	27
	10.4	Delay in Benefit Determination	27
	10.5	Accounting for Benefit Payments	27
	10.6	Options to Receive and Sell Stock	27
	10.7	Restrictions on Disposition of Stock	28
	10.8	Continuing Loan Provisions; Creations of Protections and Rights	28
	10.9	Direct Rollover of Eligible Distribution	28
	10.10	Waiver of 30-Day Period After Notice of Distribution	29
Section 11.		Rules Governing Benefit Claims and Review of Appeals	29
	11.1	Claim for Benefits	29
	11.2	Notification by Committee	29
	11.3	Claims Review Procedure	30
Section 12.		The Committee and its Functions	30
	12.1	Authority of Committee	30
	12.2	Identity of Committee	30
	12.3	Duties of Committee

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