Common use of Funding of Benefits Clause in Contracts

Funding of Benefits. Unless the Board in its discretion shall determine otherwise, the benefits payable to Mr. Ratcliffe under this Agreement shall not be funded in any mannxx xxx xxxxx be paid by the Company out of its general assets, which assets are subject to the claims of the Company's creditors.

Appears in 1 contract

Samples: Change in Control Agreement (Gulf Power Co)

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Funding of Benefits. Unless the Board in its discretion shall determine otherwise, the benefits payable to Mr. Ratcliffe under this Agreement shall not be funded in any mannxx xxx xxxxx xxxxxx xnd shall be paid by the Company out of its general assets, which assets are subject to the claims of the Company's creditors.

Appears in 1 contract

Samples: Change in Control Agreement (Savannah Electric & Power Co)

Funding of Benefits. Unless the Board of Directors in its discretion shall determine determines otherwise, the benefits amounts payable to Mr. Ratcliffe under the this Agreement shall not be funded in any mannxx xxxxxx xxx xxxxx xxall be paid by the Company out of its general assets, which assets are subject to the claims of the Company's creditors.

Appears in 1 contract

Samples: Change in Control Agreement (Alabama Power Co)

Funding of Benefits. Unless the Board in its discretion shall determine otherwise, the benefits payable to Mr. Ratcliffe under this Agreement shall not be funded in any mannxx xxx xxxxx xxxxxx xx xxy manner and shall be paid by the Company out of its general assets, which assets are subject to the claims of the Company's creditors.

Appears in 1 contract

Samples: Change in Control Agreement (Southern Power Co)

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Funding of Benefits. Unless the Board of Directors in its discretion shall determine determines otherwise, the benefits amounts payable to Mr. Ratcliffe under the this Agreement Xxxxxment shall not be funded in any mannxx xxx xxxxx manner and shall be paid by the Company out of its general assets, which assets are subject to the claims of the Company's creditors.

Appears in 1 contract

Samples: Change in Control Agreement (Southern Co)

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