COVENANTS OF SR BANCORP AND SOMERSET SAVINGS
Except as set forth in this Section 7.8, SR Bancorp and/or Somerset Bank shall assume and honor in accordance with their terms, all employment, change in control, severance and other compensation agreements, plans and arrangements existing prior to the execution of this Agreement that are between Regal Bancorp or any of its Subsidiaries and any director, officer or employee thereof and that have been disclosed in REGAL BANCORP DISCLOSURE SCHEDULE 4.12.1. Concurrently with the execution and delivery of this Agreement each executive of Regal Bank that is a party to an employment agreement or change in control agreement shall execute and deliver to Somerset Bank an agreement (“Settlement Agreement”) setting forth the manner in which his or her rights under said employment agreement or change in control agreement will be settled by Regal Bank or Somerset Bank or assumed and honored by Somerset Bank, as applicable. Except as expressly provided otherwise in this Agreement or in REGAL BANCORP DISCLOSURE SCHEDULE 7.8.2, Regal Bancorp shall not accelerate the payment of any amounts or benefits that are or may become payable under this Agreement.
【参考訳】本第 7.8 項に規定されている場合を除き、SR Bancorp および/または Somerset Bank は、Regal Bancorp またはその子会社とその取締役、役員、従業員との間で本契約締結前に存在し、REGAL BANCORP DISCLOSURE SCHEDULE 4.12.1 に開示されているすべての雇用、支配権変更、退職、その他の報酬に関する契約、計画、取り決めを引き受け、その条項に従って尊重するものとする。本契約の締結および引渡しと同時に、雇用契約または支配権変更契約の当事者である Regal Bank の各役員は、当該雇用契約または支配権変更契約に基づく権利が Regal Bank または Somerset Bank によって解決される方法、または Somerset Bank によって引き受けられ、尊重される方法を規定した契約（「和解契約」）を締結し、Somerset Bank に引き渡すものとする。本契約または REGAL BANCORP DISCLOSURE SCHEDULE 7.8.2 に明示的に別段の規定がある場合を除き、Regal Bancorp は本契約に基づき支払われる、または支払われる可能性のある金額または給付金の支払いを前倒ししないものとする。
