Common use of Plan Funding Clause in Contracts

Plan Funding. No Eligible Employee shall acquire by reason of the Plan any right in or title to any assets, funds, or property of the Employer. Any severance pay, which becomes payable under the Plan is an unfunded obligation and shall be paid from the general assets of the Company. No employee, officer, director or agent of the Employer personally guarantees in any manner the payment of Plan severance pay and severance benefits.

Plan Funding. No Eligible Employee shall acquire by reason of the Plan any right in or title to any assets, funds, or property of the EmployerCompany. Any severance pay, which becomes payable under the Plan is an unfunded obligation and shall be paid from the general assets of the Company. No employee, officer, director or agent of the Employer Company personally guarantees in any manner the payment of Plan severance pay and severance benefits.