Investments to Facilitate Payment of Benefits. Although the Bank is not obligated to invest in any specific asset or fund in order to provide the means for the payment of any liabilities under this Plan, the Bank may elect to do so and, in such event, no Participant shall have any interest whatever in such asset or fund. As a condition precedent to the Bank's obligation to provide any benefits, including incremental increases in benefits, under this Plan, the Participant shall, if so requested by the Bank, provide evidence of insurability at standard and other rates, in such amounts, and with such insurance carrier or carriers as the Bank may require, including the results and reports of previous Bank and other insurance carrier physical examinations, taking such additional physical examinations as the Bank may request, and taking any other action that the Bank may request. If a Participant is requested to and does not or cannot provide evidence of insurability as specified in the immediately preceding sentence, then the Bank shall have no further obligation to such Participant under this Plan, and such Participant's. Plan Agreement shall terminate, except as to benefits previously granted. Notwithstanding the foregoing, if a Participant cannot provide evidence of insurability at standard rates or for the amounts initially contemplated in connection with his or her participation in the Plan, the Bank may, at its discretion, permit the Participant to participate herein for such benefits and upon such deferral of his or her compensation as the Bank may, in its sole discretion, deem appropriate.
Investments to Facilitate Payment of Benefits. Although Employer is not obligated to invest in any specific asset or fund or insurance policy in order to provide the means for the payment of any Benefits under this Agreement, Employer may elect to do so. In such event, Employee will not have any interest whatever in such asset or fund or policy. Employee also understands and agrees that his cooperation or participation, in any manner, in the acquisition of any insurance policy or any other general asset by Employer for purposes of funding this Agreement will not constitute a representation to Employee, his Beneficiary, or any person claiming through Employee that any of them has a special, identified, or beneficial interest in such general asset. Although Employer may earmark, invest or segregate assets representing its commitment to Employee under this Agreement, no such action will give Employee or any person claiming through him any claim to any such earmarked or segregated account or investment asset at any time. All such investments and accounts will remain the general assets of Employer. Similarly, no investment earnings, increases or gains realized or unrealized upon any such earmarked or segregated account or investment will inure to the benefit of Employee directly or indirectly, but all will remain the property of Employer. To the extent that Employer funds are actually invested, earmarked and/or segregated for the purpose of performing Employer's obligations under this Agreement, (1) no secured arrangement will be deemed to have been created because of such investment, earmarking or segregation, (2) all earnings, gains, losses and expenses experienced on such investments will remain the property of Employer and will have no effect on Employer's obligations to Employee, and (3) all such assets or funds will remain subject to the claims of Employer's general creditors.
