Unfunded Plan. The Plan shall be unfunded. Neither the Corporation nor the Board shall be required to segregate any assets that may at any time be represented by benefits under the Plan. Neither the Corporation nor the Board shall be deemed to be a trustee of any amounts to be paid under the Plan. Any liability of the Corporation to any Participant with respect to any benefit shall be based solely upon any contractual obligations created by the Plan and the Agreement; no such obligation shall be deemed to be secured by any pledge or any encumbrance on any property of the Corporation.
Unfunded Plan. The Plan shall be unfunded.unfunded and all costs of the Plan shall be paid from the Company’s general assets. Neither the CorporationCompany nor the Board shall be required to segregate any assets that may at any time be represented by benefits under the Plan. Neither the CorporationCompany nor the Board shall be deemed to be a trustee of any amounts to be paid under the Plan. Any liability of the CorporationCompany to any Participant with respect to any benefit shall be based solely upon any contractual obligations created by the Plan and the Participation Agreement; no such obligation shall be deemed to be secured by any pledge or any encumbrance on any property of the Corporation.Company.
Unfunded Plan. The Plan shall be unfunded. Neitherunfunded and the Corporation nor the BoardCompany shall not be required to segregate any assets that may at any time be represented by benefitsAwards under the Plan. Neither the CorporationCompany, its Subsidiaries, the Committee, nor the Board shall be deemed to be a trustee of any amounts to be paid under the Plan. Any liabilityPlan nor shall anything contained in the Plan or any action taken pursuant to its provisions create or be construed to create a fiduciary relationship between the Company and/or its Subsidiaries, and a Participant. To the extent any person has or acquires a right to receive a payment in connection with an Award under the Plan, this right shall be no greater than the right of an unsecured general creditor of the Corporation to any Participant with respect to any benefit shall be based solely upon any contractual obligations created by the Plan and the Agreement; no such obligation shall be deemed to be secured by any pledge or any encumbrance on any property of the Corporation.Company.
Unfunded Plan.Obligation. The Planobligation of the Corporation under this Agreement shall be unfunded. Neither theThe Corporation nor the Board shall not be required to segregate any assets that may at any time be represented by benefits under the Plan. Neither thethis Agreement. The Corporation nor the Board shall not be deemed to be a trustee of any amounts to be paid under the Plan.this Agreement. Any liability of the Corporation to any Participantthe Executive with respect to any benefit shall be based solely upon any contractual obligations created by the Plan and the Agreement;hereunder; no such obligation shall be deemed to be secured by any pledge or any encumbrance on any property of the Corporation.
UnfundedNo Funding of Plan. The PlanCompany shall be unfunded. Neither the Corporation nor the Board shallnot be required to fund or otherwise segregate any assets thatcash or any other assets, which may at any time be represented by benefitspaid to Participants under the Plan. NeitherThe Plan shall constitute an “unfunded” plan of the Corporation norCompany. The Company shall not, by any provisions of the Board shallPlan, be deemed to be a trustee of any amounts toproperty, and any rights of any Participant or former Participant shall be paid under the Plan. Any liabilityno greater than those of a general unsecured creditor or shareholder of the Corporation to any Participant with respect to any benefit shall be based solely upon any contractual obligations created byCompany, as the Plan and the Agreement; no such obligation shall be deemed to be secured by any pledge or any encumbrance on any property of the Corporation.case may be.
Unfunded Plan. The Plan is intended to constitute an “unfunded” plan and Participants shall be unfunded. Neitherhave no claim against the Corporation nor the BoardCompany or its assets other than as unsecured general creditors. The Company shall not be required to fund, or otherwise segregate any assets that may at any timeto be represented byused for payment of, benefits under the Plan. Neither the Corporation nor the Board shall be deemed to be a trustee of any amounts to be paid under the Plan. Any liability of the Corporation to any Participant with respect to any benefit shall be based solely upon any contractual obligations created by the Plan and the Agreement; no such obligation shall be deemed to be secured by any pledge or any encumbrance on any property of the Corporation.
Unfunded Plan. TheThis Plan shall be unfunded. Neither the Corporation nor the Board shall be required to segregate any assets that may at any time be represented by benefits under the Plan. Neither the Corporation nor the Board shall be deemed to be a trustee of any amounts to be paid under the Plan. Any liabilityThe obligation of the Corporation to any Participant with respect to any benefitunder this Plan shall be based solely upon any contractual obligations created bythat of an unfunded and unsecured promise to pay money in the future. Any benefits which become payable under this Plan and the Agreement; no such obligation shall be deemed to be secured by any pledge or any encumbrance on any propertypaid from the general assets of the Corporation. The Corporation may, in its discretion, purchase a letter of credit from a bank or trust to secure the benefit of one or more Participants.
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