UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): September 13, 2006
------------------
PROVIDENT FINANCIAL SERVICES, INC.
----------------------------------
(Exact Name of Registrant as Specified in its Charter)
Delaware 001-31566 42-1547151
------------------------------- ------------------------- ------------------
(State or Other Jurisdiction) (Commission File No.) (I.R.S. Employer
of Incorporation) Identification No.)
830 Bergen Avenue, Jersey City, New Jersey 07306-4599
------------------------------------------ ----------
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (201) 333-1000
--------------
Not Applicable
--------------
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 1.02. Termination of a Material Definitive Agreement
----------------------------------------------
Gregory French, Senior Vice President, Market Development and Delivery of
The Provident Bank (the "Bank") will leave the employment of the Bank to pursue
other career opportunities, as more fully disclosed in Item 8.01 of this Current
Report. As a result of such termination of employment, the change in control
agreement that Provident Financial Services, Inc. (the "Company") previously
entered into with Mr. French has been terminated. The change in control
agreement, the form of which was filed as an Exhibit to the Company's
Registration Statement on Form S-1 (Registration No. 333-98241), would have
provided certain benefits to Mr. French in the event of a change in control of
the Company or the Bank followed by the termination of Mr. French's employment,
including circumstances that would constitute a constructive termination of
employment.
Item 8.01 Other Events
------------
On September 13, 2006, the Company and its wholly-owned subsidiary, the Bank,
announced that the employment of Gregory French, Senior Vice President, Market
Development and Delivery, has been terminated by mutual agreement of the parties
effective on September 30, 2006. Mr. French will pursue other career
opportunities. In exchange for a release of all possible claims against the Bank
and the Company, as well as an agreement not to solicit the Bank's employees for
employment for a twelve month period, the Bank has agreed to make a lump-sum
payment to Mr. French in the amount of $800,000.
Item 9.01. Financial Statements and Exhibits
---------------------------------
(a) Financial Statements of Businesses Acquired. Not
applicable.
(b) Pro Forma Financial Information. Not applicable.
(c) Shell Company Transactions. Not applicable.
(d) Exhibits. Not Applicable.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, hereunto duly authorized.
PROVIDENT FINANCIAL SERVICES, INC.
DATE: September 13, 2006 By: /s/ Paul M. Pantozzi
------------------------
Paul M. Pantozzi
Chairman and Chief Executive Officer