Example ContractsClausesno plan assetsIdentical
No Plan Assets
No Plan Assets contract clause examples

Participants and their Beneficiaries, heirs, successors and assigns shall have no legal or equitable rights, interests or claims in any property or assets of the Company or an Employer or in any property or assets held in a Trust maintained with respect to the Plan. For purposes of the payment of benefits under this Plan, any and all of an Employer’s assets, shall be, and shall remain, the general, unpledged unrestricted assets of the Employer. Any Employer’s obligation under the Plan shall be merely that of an unfunded and unsecured promise to pay money in the future. To the extent that any person acquires a right to receive payments from the Company under this Plan, such rights shall be no greater than the right of any unsecured general creditor of the Company.

MCCORMICK & CO INC (MKC, MKC-V) (CIK 0000063754)
Source: SEC EDGAR database • Date: March 28, 2017 • SIC: 2090 • CIK: 2090

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