Plan Unfunded Clause Samples

Plan Unfunded. The Plan shall be unfunded. Except for reserving a sufficient number of authorized Shares to the extent required by law to meet the requirements of the Plan, the Company shall not be required to establish any special or separate fund or to make any other segregation of assets to assure payment of any Option granted under the Plan. To the extent not in accordance with the foregoing, the following shall govern all options granted and securities sold to residents of California: 1. Options shall be exercisable for not more than one-hundred twenty (120) months from the date the option is granted. 2. Options granted pursuant to the plan shall not be transferred other than by will, by the laws of descent and distribution, to a revocable trust, or as permitted by Rule 701 of the Securities Act of 1933, as amended (17 C.F.R. 230.701). 3. The number of securities purchasable pursuant to any option and the exercise price thereof, shall be proportionately adjusted in the event of a stock split, reverse stock split, stock dividend, recapitalization, combination, reclassification or other distribution of the issuer’s equity securities without the receipt of consideration by the issuer, of or on the issuer’s class or series of securities underlying the option. 4. Unless the grantee’s employment is terminated for cause as defined by applicable law, the right to exercise the option in the event of termination of employment, to the extent that the optionee is entitled to exercise on the date employment terminates, shall continue until the earlier of the option expiration date or (1) at least six (6) months from the date of termination if termination was caused by death or disability, or (2) at least thirty (30) days from the date of termination if termination was caused by other than death or disability. 5. The Plan must be approved by a majority of the outstanding securities entitled to vote by the later of (1) within twelve (12) months before or after the date the Plan is adopted, or (2) prior to or within twelve (12) months of the granting of any option under the Plan in California. 6. No options may be granted more than ten (10) years from the date the plan is adopted or the date the plan is approved by the issuer’s security holders, whichever is earlier. THIS AGREEMENT (the “Agreement”), effective as of the date of grant set forth on the signature page hereto (the “Date of Grant”), is between Expo Event Holdco, Inc., a Delaware corporation (together with its successors...

Plan Unfunded. In the event that the Company (or one of its subsidiaries) shall decide to establish an advance accrual reserve on its books against the future expense of payments hereunder, such reserve shall not under any circumstances be deemed to be an asset of this Plan but, at all times, shall remain a part of the general assets of the Company (or such subsidiary), subject to claims of the Company’s (or such subsidiary’s) creditors. A person entitled to any amount under this Plan shall be a general unsecured creditor of the Company (or the Participant’s employer subsidiary) with respect to such amount. Furthermore, a person entitled to a payment or distribution with respect to any amounts credited to Participant Accounts shall have a claim upon the Company (or the Participant’s employer subsidiary) only to the extent of the vested balance(s) credited to such Accounts.

Plan Unfunded. The Plan shall be unfunded and no trust shall be created. The Participant's Stock Account shall be reflected solely through bookkeeping entries. No actual funds shall be set aside. All benefits shall be paid by the Company from its general assets, and the Participant (or his Beneficiary) shall have only the rights of a general, unsecured creditor against the Company for any distributions due hereunder. The foregoing notwithstanding, the Company shall establish a grantor or "rabbi" trust for the purpose of enabling the Company to provide for the payment of benefits hereunder as they come due. Contributions to the rabbi trust shall be made by the Company at such times and in such amounts as the Board, in its sole discretion, shall determine.

Plan Unfunded. The Plan shall be unfunded and no trust or special deposit shall be created, or deemed to be created, by the Plan or the Company. The crediting of amounts to the Deferred Compensation Account of a Participant shall be made through recordkeeping entries. No actual funds or Shares shall be segregated, reserved, or otherwise set aside; provided, however, that nothing herein shall prevent the Company from establishing one or more grantor trusts from which distributions due under the Plan may be paid. All distributions shall be paid by the Company from its general assets and a Participant or a Beneficiary shall have the rights of a general, unsecured creditor against the Company for any distributions due hereunder. The benefits provided to Participants under the Plan constitute a mere promise by the Company to make such payments in the future.

Plan Unfunded. This Plan shall be unfunded. Payments under this Plan shall be made from the general assets of Mikasa. The Participants in this Plan shall be general unsecured creditors of Mikasa. No Participant shall have any right, title, claim or interest in or with respect to any specific assets of Mikasa in connection with the Participant's participation in this Plan.

Plan Unfunded. It is intended that the Plan shall be unfunded for tax purposes and for purposes of Title I of ERISA.

Plan Unfunded. The Plan shall be unfunded and no trust shall be created by the Plan. The allocation to each Participant's Deferred Income Account shall be made through bookkeeping entries and no actual funds need be set aside. To the extent that any funds are credited within the general assets of the Company to an account to cover all or part of the Company's potential liabilities under the Plan, any funds so credited may be kept in cash or invested and reinvested in such manner as the Company shall determine. In the exercise of the foregoing discretionary investment powers, the Company may use the amounts so credited as premium payments for policies of insurance issued by any insurance company licensed to do business in Pennsylvania. Title to and beneficial ownership of any assets whether cash or investments, shall at all times remain in the Company and a Participant (or his or her Beneficiary) shall not have any property interest whatsoever in any specific assets of the company. A Participant (or his or her Beneficiary) shall have the rights of a general unsecured creditor against the Company for any distributions due hereunder.

Plan Unfunded. The obligation to pay benefits under the Plan represents only a contractual obligation of the Company to make payments when due. The Company’s obligation to pay benefits shall not be secured in any way, and neither shall set aside assets beyond the reach of their general creditors for the purpose of paying benefits under the Plan.