Common use of SUPERSEDEAS Clause in Contracts

SUPERSEDEAS. While this Agreement is in addition to and not in lieu of any other plan providing for payments to or benefits for the Executive or any agreement now existing or which hereafter may be entered into between the Company and the Executive, this Agreement supersedes all prior agreements and understandings of the parties hereto with respect to the Company's severance obligations to the Executive and any other similar payments to the Executive due upon termination of employment other than those agreements and understandings contained in the Company's Executive Severance Plan or specifically provided for in any employment contract between the Company and the Executive. This agreement supersedes the Employment Agreement between Prime Bancorp, Inc. and Executive dated December __, 1995 other than the terms of such agreement relating to your stock options, and any other agreements and understandings relating to the employment contracts with or severance benefits payable by Prime Bancorp, Inc. or Prime Bank, which, except as aforesaid, are hereby cancelled and null and void as of the effective date of this Agreement. The merger of Prime Bancorp, Inc. with the Company does not constitute a Change in Control for the purposes of this Agreement.

SUPERSEDEAS. While this Agreement is in addition to and not in lieu of any other plan providing for payments to or benefits for the Executive or any agreement now existing or which hereafter may be entered into between the Company and the Executive, this Agreement supersedes all prior agreements and understandings of the parties hereto with respect to the Company's severance obligations to the Executive and any other similar payments to the Executive due upon termination of employment other than those agreements and understandings contained in the Company's Executive Severance Plan or specifically provided for in any employment contract between the Company and the Executive. This agreement supersedes the Employment Agreement between Prime Bancorp, Inc. and Executive dated December __18, 1995 1995, as amended June 17, 1999, other than the terms of such agreement relating to your stock options, and any other agreements and understandings relating to the employment contracts with or severance benefits payable by Prime Bancorp, Inc. or Prime Bank, which, except as aforesaid, are hereby cancelled canceled and null and void as of the effective date of this Agreement. The merger of Prime Bancorp, Inc. with the Company First Valley does not constitute a Change in Control for the purposes of this Agreement.