General Creditor. The Executive shall be regarded as a general creditor of First Charter with respect to any rights derived by the Executive from the existence of this Supplemental Agreement or the existence or amount of the liability. Title to and beneficial ownership of any assets, whether cash, investments, life insurance policies, or other assets that First Charter may intend to use as a source of payment, shall at all times remain with First Charter. The Executive and his Beneficiary shall not have any property interest whatsoever in any specific assets of First Charter.
Appears in 7 contracts
Samples: Supplemental Agreement (First Charter Corp /Nc/), Supplemental Agreement (First Charter Corp /Nc/), Supplemental Agreement (First Charter Corp /Nc/)
General Creditor. The Executive shall be regarded as a general creditor of First Charter with respect to any rights derived by the Executive from the existence of this Supplemental Agreement or the existence or amount of the liability. Title to and beneficial ownership of any assets, whether cash, investments, life insurance policies, or other assets that First Charter may intend to use as a source of payment, shall at all times remain with First Charter. The Executive and his Beneficiary shall not have any property interest whatsoever in any specific assets of First Charter.
Appears in 3 contracts
Samples: Supplemental Agreement (First Charter Corp /Nc/), Supplemental Agreement (First Charter Corp /Nc/), Supplemental Agreement (First Charter Corp /Nc/)
