Common use of Benefits Payable Only From Corporate Assets Clause in Contracts

Benefits Payable Only From Corporate Assets. (a) Nothing contained in this Agreement, and no action taken pursuant to its provisions by either party shall create or be construed to create, a trust of any kind, or a fiduciary relationship between the Corporation and the Employee or any other person. (b) The payments to the Employee or his surviving spouse shall continue for all purposes to be a part of the general assets of the Corporation and no person shall acquire any interest in such assets by virtue of this Agreement. To the extent the Employee or his surviving spouse acquires a right to receive payments from the Corporation under this Agreement, such right shall be no greater than the right of any unsecured general creditor of the Corporation.