Allocation of Obligations. The Bank and the Company shall allocate among themselves which party shall be responsible for paying the severance payments and other benefits directed by this Agreement. The payment by either party of such severance payments and other benefits shall satisfy the obligations of the non-paying party under this Agreement. Both the Bank and the Company shall be jointly liable in the event of a failure by both parties to pay such severance payments and other benefits.
Appears in 9 contracts
Samples: Change in Control Agreement (CCBT Bancorp Inc), Change in Control Agreement (CCBT Bancorp Inc), Change of Control Agreement (CCBT Financial Companies Inc)
