Common use of Funding of Benefits Clause in Contracts

Funding of Benefits. Unless the Board of Directors in its discretion determines otherwise, the amounts payable to Mr. Ratcliffe under the this Agreement shall not be funded in any xxxxxx xxx 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)

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Funding of Benefits. Unless the Board of Directors in its discretion determines shall determine otherwise, the amounts benefits payable to Mr. Ratcliffe under the this Agreement shall not be funded in any xxx xxxxxx xxx xxall 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 determines otherwise, the amounts payable to Mr. Ratcliffe under the this Agreement Xxxxxment shall not be funded in any xxxxxx xxx xxall 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: Severance Agreement (Southern Co)

Funding of Benefits. Unless the Board of Directors in its discretion determines shall determine otherwise, the amounts benefits payable to Mr. Ratcliffe under the this Agreement shall not be funded in any xxxxxx xxx xxall 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 determines shall determine otherwise, the amounts benefits payable to Mr. Ratcliffe under the this Agreement shall not be funded in any xxxxxx mannxx xxx xxall 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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