Common use of Limitation on Right to Deferred Compensation Clause in Contracts

Limitation on Right to Deferred Compensation. The rights of Executive, or Executive’s beneficiaries or estate, to any deferred compensation under this Agreement will be solely those of an unsecured creditor of Employer. Nothing in this Agreement confers any right on Executive, any of Executive’s beneficiaries, or Executive’s estate to receive, assign rights under, or transfer any compensation including any deferred compensation other than as provided for under the applicable Plan.

Appears in 5 contracts

Samples: Executive Employment Agreement (G&k Services Inc), Executive Employment Agreement (G&k Services Inc), Employment Agreement (G&k Services Inc)

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Limitation on Right to Deferred Compensation. The rights of Executive, or Executive’s beneficiaries or estate, to any deferred compensation under this Agreement will be solely those of an unsecured creditor of Employer. Nothing in this Agreement confers any right on Executive, any of Executive’s beneficiaries, or Executive’s estate to receive, assign rights under, or transfer any compensation compensation, including any deferred compensation compensation, other than as provided for under the applicable Plan.

Appears in 5 contracts

Samples: Executive Employment Agreement (G&k Services Inc), Executive Employment Agreement (G&k Services Inc), Executive Employment Agreement (G&k Services Inc)

Limitation on Right to Deferred Compensation. The rights of Executive, or Executive’s 's beneficiaries or estate, to any deferred compensation under this Agreement will shall be solely those of an unsecured creditor of Employer. Nothing in this Agreement confers any right on Executive, Neither Executive nor any of Executive’s beneficiaries's beneficiaries or estate shall be entitled to assign or transfer (except to Employer) any right to receive any part of any deferred compensation amounts hereunder and, or Executive’s estate in the event of any attempt to receive, assign rights under, or transfer any compensation including any deferred compensation other than as provided of such amounts, Employer shall have no further liability hereunder for under the applicable Plansuch amounts.

Appears in 1 contract

Samples: Executive Employment Agreement (G&k Services Inc)

Limitation on Right to Deferred Compensation. The rights of Executive, or Executive’s 's beneficiaries or estate, to any deferred compensation under this Agreement will shall be solely those of an unsecured creditor of Employer. Nothing in this Agreement confers any right on Executive, Neither Executive nor any of Executive’s beneficiaries's beneficiaries or estate shall be entitled to assign or transfer (except to Employer) any right to receive any part of any deferred compensation amounts hereunder and, or Executive’s estate in the event of any attempt to receive, assign rights under, or transfer any compensation including any deferred compensation other than as provided such amounts, Employer shall have no further liability hereunder for under the applicable Plansuch amounts.

Appears in 1 contract

Samples: Executive Employment Agreement (G&k Services Inc)

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Limitation on Right to Deferred Compensation. The rights of Executive, or Executive’s beneficiaries or estate, to any deferred compensation under this Agreement will be solely those of an unsecured creditor of Employer. Nothing in this Agreement confers any right on Executive, Neither Executive nor any of Executive’s beneficiariesbeneficiaries or estate will be entitled to assign or transfer (except to Employer) any right to receive any part of any deferred compensation amounts under this Agreement and, or Executive’s estate in the event of any attempt to receive, assign rights under, or transfer any compensation including any deferred compensation other than as provided of these amounts, Employer will have no further liability under this Agreement for under the applicable Planthese amounts.

Appears in 1 contract

Samples: Executive Employment Agreement (G&k Services Inc)

Limitation on Right to Deferred Compensation. The rights of Executive, or Executive’s 's beneficiaries or estate, to any deferred compensation under this Agreement will shall be solely those of an unsecured creditor of Employer. Nothing in this Agreement confers any right on Executive, Neither Executive nor any of Executive’s beneficiaries's beneficiaries or estate shall be entitled to assign or transfer (except to Employer) any right to receive any part of any deferred compensation amounts hereunder and, or Executive’s estate in the event of any attempt to receive, assign rights under, or transfer any compensation including any deferred compensation other than as provided of such amounts, Employer shall have no further liability hereunder for under the applicable Plan.such amounts,

Appears in 1 contract

Samples: Executive Employment Agreement (G&k Services Inc)

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