NO SECURED GUARANTEE OF BENEFITS. In the event of the insolvency or bankruptcy of Employer, Participant shall remain a general creditor of the Employer with respect to any benefits payable under the Agreement and nothing contained in the Agreement shall constitute a secured guaranty by Employer or any other person or entity that the assets of Employer will be sufficient to pay any benefit hereunder in the event of the Employer's insolvency or bankruptcy.
Appears in 4 contracts
Samples: Supplemental Executive Retirement Agreement (Union Planters Corp), Supplemental Executive Retirement Agreement (Union Planters Corp), Supplemental Executive Retirement Agreement (Union Planters Corp)
NO SECURED GUARANTEE OF BENEFITS. In the event of the insolvency or bankruptcy of Employer, Participant shall remain a general creditor of the Employer with respect to any 11 benefits payable under the Agreement and nothing contained in the Agreement shall constitute a secured guaranty by Employer or any other person or entity that the assets of Employer will be sufficient to pay any benefit hereunder in the event of the Employer's Employers insolvency or bankruptcy.
Appears in 1 contract
Samples: Supplemental Executive Retirement Agreement (Union Planters Corp)
