Non-Secured Promise. The rights of the Executive under this Agreement and of any Beneficiary of the Executive will be solely those of an unsecured creditor of the Company. Any insurance policy or any other asset acquired or held by the Company in connection with the liabilities assumed by it hereunder, will not be deemed to be held under any trust for the benefit of the Executive or his beneficiaries or to be security for the performance of the obligations of the Company, but will be, and remain, a general, unpledged, unrestricted asset of the Company and the Company will retain all ownership rights in any such policy.
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Samples: Benefit and Supplemental Pension Agreement (Hartford Steam Boiler Inspection & Insurance Co), Benefit and Supplemental Pension Agreement (Hartford Steam Boiler Inspection & Insurance Co), Benefit and Supplemental Pension Agreement (Hartford Steam Boiler Inspection & Insurance Co)
Non-Secured Promise. The rights of the Executive under this Agreement and of any Beneficiary beneficiary of the Executive will be solely those of an unsecured creditor of the CompanyCorporation. Any insurance policy or any other asset acquired or held by the Company Corporation in connection with the liabilities assumed by it hereunder, will not be deemed to be held under any trust for the benefit of the Executive or his beneficiaries or to be security for the performance of the obligations of the CompanyCorporation, but will be, and remain, a general, unpledged, unrestricted asset of the Company Corporation and the Company Corporation will retain all ownership rights in any such policy.
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