EXHIBIT 99.1
AGREEMENT, dated as of this 13th day of February 1998, by and between
each of the persons named on the signature pages hereto, in consideration of the
mutual covenants and agreements set forth herein.
WHEREAS, each of the parties hereto beneficially owns shares (the
"Shares") of common stock of Sun Bancorp, Inc. a New Jersey corporation (the
"Company"); and
WHEREAS, the parties hereto may be deemed to jointly own a certain
amount of the Shares;
NOW, THEREFORE, the parties hereto hereby agree as follows:
1. The parties hereto shall prepare a statement containing the
information required by Schedule 13G with respect to their respective interests
in the Shares (the "Schedule 13G") and any necessary amendments thereto, and for
the completeness and accuracy of the information concerning him, her or it
contained therein, but shall not be responsible for the completeness and
accuracy of the information concerning any other party contained therein, except
to the extent that he, she or it knows or has reason to believe that such
information is inaccurate.
2. Xx. Xxxxxxx X. Xxxxx shall be designated as the person authorized to
receive notices and communications with respect to the Schedule 13G and any
amendments thereto.
3. Each of the undersigned hereby constitutes and appoints Xxxxxxx X.
Xxxxx his, her or its true and lawful attorney-in-fact and agent, with full
power of substitution and resubstitution, for him or it and in his, her or its
name, place and stead, in any and all capacities, to sign Schedule 13G and any
and all amendments thereto, and other documents in connection therewith, to be
filed with the Securities and Exchange Commission, granting unto said
attorney-in-fact and agent all power and authority to do and perform each and
every act requisite and necessary to be done, as fully to all intents and
purposes as he, she or it might or could do in person, hereby ratifying and
confirming all that said attorney-in-fact and agent, or his substitute or
substitutes, may lawfully do or cause to be done by virtue hereof.
4. This Agreement may be executed in counterparts, each of which taken
together shall constitute one and the same instrument.
IN WITNESS WHEREOF, the undersigned have executed this
Agreement as of the date first above written.
By: /s/Xxxxxxx X. Xxxxx
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Xxxxxxx X. Xxxxx
By: /s/Xxxxxxx X. Xxxxx
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Xxxxxxx X. Xxxxx
VINELAND CONSTRUCTION COMPANY
By: /s/Xxxxxxx X. Xxxxx
By: /s/Xxxxxxx X. Xxxxx
