Joint and Several Liability; Payments by the Company and the Bank. To the extent permitted by law, except as otherwise provided herein, the Company and the Bank shall be jointly and severally liable for the payment of all amounts due under this Agreement. The Company hereby agrees that it shall be jointly and severally liable with the Bank for the payment of all amounts due under this Agreement and shall guarantee the performance of the Bank’s obligations hereunder, provided that the Company shall not be required by this Agreement to pay to the Executive a salary or any bonuses or any other cash payments, except in the event that the Bank does not fulfill its obligations to the Executive for such payments.
Appears in 6 contracts
Samples: Employment Agreement (Yardville National Bancorp), Employment Agreement (Yardville National Bancorp), Employment Agreement (Yardville National Bancorp)
