Common use of RESTRICTIONS UPON FUNDING Clause in Contracts

RESTRICTIONS UPON FUNDING. The Company shall have no obligation to set aside, earmark or entrust any fund or money with which to pay its obligations under this Agreement. Executive or any successor-in-interest to Executive shall be and remain simply a general creditor of the Company in the same manner as any other creditor having a general unsecured claim. For purposes of the Internal Revenue Code, the Company intends this Agreement to be an unfunded, unsecured promise to pay on the part of the Company. For purposes of Employee Retirement Income Security Act of 1974, as amended (“ERISA”), the Company intends that this Agreement not be subject to ERISA. If it is deemed subject to ERISA, it is intended to be an unfunded arrangement for the benefit of a select member of management, who is a highly compensated employee of the Company for the purpose of qualifying this Agreement for the “top hat” plan exception under sections 201(2), 301(a)(3) and 401(a)(1) of ERISA. At no time shall Executive have or be deemed to have any lien nor right, title or interest in or to any specific investment or to any assets of the Company. If the Company elects to invest in a life insurance, disability or annuity policy upon the life of Executive, Executive shall assist the Company by freely submitting to a physical examination and supplying such additional information necessary to obtain such insurance or annuities.

RESTRICTIONS UPON FUNDING. The Company Bank shall have no obligation to set aside, earmark or entrust any fund or money with which to pay its obligations under this Agreement. Executive or any successor-in-interest to Executive shall be and remain simply a general creditor of the Company Bank in the same manner as any other creditor having a general unsecured claim. For purposes of the Internal Revenue Code, the Company Bank intends this Agreement to be an unfunded, unsecured promise to pay on the part of the CompanyBank. For purposes of Employee Retirement Income Security Act of 1974, as amended (“ERISA”), the Company Bank intends that this Agreement not be subject to ERISA. If it is deemed subject to ERISA, it is intended to be an unfunded arrangement for the benefit of a select member of management, who is a highly compensated employee of the Company Bank for the purpose of qualifying this Agreement for the “top hat” plan exception under sections 201(2), 301(a)(3) and 401(a)(1) of ERISA. At no time shall Executive have or be deemed to have any lien nor right, title or interest in or to any specific investment or to any assets of the CompanyBank. If the Company Bank elects to invest in a life insurance, disability or annuity policy upon the life of Executive, Executive shall assist the Company Bank, as applicable, by freely submitting to a physical examination and supplying such additional information necessary to obtain such insurance or annuities.

RESTRICTIONS UPON FUNDING. The Company Bank shall have no obligation to set aside, earmark or entrust any fund or money with which to pay its obligations under this Agreement. The Executive or any successor-in-interest to Executive shall be and remain simply a general creditor of the Company Bank in the same manner as any other creditor having a general unsecured claim. For purposes of the Internal Revenue Code, the Company Bank intends this Agreement to be an unfunded, unsecured promise to pay on the part of the CompanyBank. For purposes of Employee Retirement Income Security Act of 1974, as amended (“"ERISA”"), the Company Bank intends that this Agreement not be subject to ERISA. If it is deemed subject to ERISA, it is intended to be an unfunded arrangement for the benefit of a select member of management, who is a highly compensated employee of the Company Bank for the purpose of qualifying this Agreement for the “"top hat” " plan exception under sections 201(2), 301(a)(3) and 401(a)(1) of ERISA. At no time shall the Executive have or be deemed to have any lien nor right, title or interest in or to any specific investment or to any assets of the CompanyBank. If the Company Bank elects to invest in a life insurance, disability or annuity policy upon the life of Executive, the Executive shall assist the Company Bank by freely submitting to a physical examination and supplying such additional information necessary to obtain such insurance or annuities.

RESTRICTIONS UPON FUNDING. The Company Bank shall have no obligation to set aside, earmark or entrust any fund or money with which to pay its obligations under this Agreement. The Executive or any successor-in-interest to the Executive shall be and remain simply a general creditor of the Company Bank in the same manner as any other creditor having a general unsecured claim. For purposes of the Internal Revenue Code, the Company Bank intends this Agreement to be an unfunded, unsecured promise to pay on the part of the CompanyBank. For purposes of Employee Retirement Income Security Act of 1974, as amended (“ERISA”), the Company Bank intends that this Agreement not be subject to ERISA. If it is deemed subject to ERISA, it is intended to be an unfunded arrangement for the benefit of a select member of management, who is a highly compensated employee of the Company Bank for the purpose of qualifying this Agreement for the “top hat” plan exception under sections 201(2), 301(a)(3) and 401(a)(1) of ERISA. At no time shall the Executive have or be deemed to have any lien nor right, title or interest in or to any specific investment or to any assets of the CompanyBank. If the Company Bank elects to invest in a life insurance, disability or annuity policy upon the life of the Executive, the Executive shall assist the Company Bank by freely submitting to a physical examination and supplying such additional information necessary to obtain such insurance or annuities.

RESTRICTIONS UPON FUNDING. The Company Bank shall have no obligation to set aside, earmark or entrust any fund or money with which to pay its obligations under this Agreement. The Executive or any successor-in-interest to Executive shall be and remain simply a general creditor of the Company Bank in the same manner as any other creditor having a general unsecured claim. For purposes of the Internal Revenue Code, the Company Bank intends this Agreement to be an unfunded, unsecured promise to pay on the part of the Company. B. For purposes of Employee Retirement Income Security Act of 1974, as amended (“"ERISA”"), the Company Bank intends that this Agreement not be subject to ERISA. If it is deemed subject to ERISA, it is intended to be an unfunded arrangement for the benefit of a select member of management, who is a highly compensated employee of the Company Bank for the purpose of qualifying this Agreement for the “"top hat” " plan exception under sections 201(2), 301(a)(3) and 401(a)(1) of ERISA. At no time shall the Executive have or be deemed to have any lien nor right, title or interest in or to any specific investment or to any assets of the Company. B. If the Company Bank elects to invest in a life insurance, disability or annuity policy upon the life of Executive, the Executive shall assist the Company Bank by freely submitting to a physical examination and supplying such additional information necessary to obtain such insurance or annuities.

RESTRICTIONS UPON FUNDING. The Company Bank shall have no obligation to set aside, earmark or entrust any fund or money with which to pay its obligations under this Agreement. Executive or any successor-in-interest to Executive shall be and remain simply a general creditor of the Company Bank in the same manner as any other creditor having a general unsecured claim. For purposes of the Internal Revenue Code, the Company Bank intends this Agreement to be an unfunded, unsecured promise to pay on the part of the CompanyBank. For purposes of Employee Retirement Income Security Act of 1974, as amended (“ERISA”), the Company Bank intends that this Agreement not be subject to ERISA. If it is deemed subject to ERISA, it is intended to be an unfunded arrangement for the benefit of a select member of management, who is a highly compensated employee of the Company Bank for the purpose of qualifying this Agreement for the “top hat” plan exception under sections 201(2), 301(a)(3) and 401(a)(1) of ERISA. At no time shall Executive have or be deemed to have any lien nor right, title or interest in or to any specific investment or to any assets of the CompanyBank. If the Company Bank elects to invest in a life insurance, disability or annuity policy upon the life of Executive, Executive shall assist the Company Bank by freely submitting to a physical examination and supplying such additional information necessary to obtain such insurance or annuities.

RESTRICTIONS UPON FUNDING. The Company Employer shall have no obligation to set aside, earmark or entrust any fund or money with which to pay its obligations under this Agreement. Executive or any successor-in-interest to Executive shall be and remain simply a general creditor of the Company Employer in the same manner as any other creditor having a general unsecured claim. For purposes of the Internal Revenue Code, the Company Employer intends this Agreement to be an unfunded, unsecured promise to pay on the part of the CompanyEmployer. For purposes of Employee Executive Retirement Income Security Act of 1974, as amended (“"ERISA”"), the Company Employer intends that this Agreement not be subject to ERISA. If it is deemed subject to ERISA, it is intended to be an unfunded arrangement for the benefit of a select member of management, who is a highly compensated employee Executive of the Company Employer for the purpose of qualifying this Agreement for the “"top hat” " plan exception under sections 201(2), 301(a)(3) and 401(a)(1) of ERISA. At no time shall the Executive have or be deemed to have any lien nor right, title or interest in or to any specific investment or to any assets of the CompanyEmployer. If the Company Employer elects to invest in a life insurance, disability or annuity policy upon the life of Executive, Executive shall assist the Company Employer by freely submitting to a physical examination and supplying such additional information necessary to obtain such insurance or annuities.

RESTRICTIONS UPON FUNDING. The Company Bank shall have no obligation to set aside, earmark or entrust any fund or money with which to pay its obligations under this Agreement. Executive or any successor-in-interest to Executive shall be and remain simply a general creditor of the Company Bank in the same manner as any other creditor having a general unsecured claim. For purposes of the Internal Revenue Code, the Company Bank intends this Agreement to be an unfunded, unsecured promise to pay on the part of the CompanyBank. For purposes of Employee Retirement Income Security Act of 1974, as amended (“ERISA”), the Company Bank intends that this Agreement not be subject to ERISA. If it is deemed subject to ERISA, it is intended to be an unfunded arrangement for the benefit of a select member of management, who is a highly compensated employee of the Company Bank for the purpose of qualifying this Agreement for the “top hat” plan exception under sections 201(2), 301(a)(3) and 401(a)(1) of ERISA. At no time shall Executive have or be deemed to have any lien nor right, title or interest in or to any specific investment or to any assets of the CompanyBank. If the Company Bank elects to invest in a life insurance, disability or annuity policy upon the life of Executive, Executive shall assist the Company Bank by freely submitting to a physical examination and supplying such additional information necessary to obtain such insurance or annuities.

RESTRICTIONS UPON FUNDING. The Company Bank shall have no obligation to set aside, earmark or entrust any fund or money with which to pay its obligations under this Agreement. The Executive or any successor-in-interest to the Executive shall be and remain simply a general creditor of the Company Bank in the same manner as any other creditor having a general unsecured claim. For purposes of the Internal Revenue Code, the Company Bank intends this Agreement to be an unfunded, unsecured promise to pay on the part of the CompanyBank. For purposes of Employee Retirement Income Security Act of 1974, as amended (“ERISA”), the Company Bank intends that this Agreement not be subject to ERISA. If it is deemed subject to ERISA, it is intended to be an unfunded arrangement for the benefit of a select member of management, who is a highly compensated employee of the Company Bank for the purpose of qualifying this Agreement for the “top hat” plan exception under sections 201(2), 301(a)(3) and 401(a)(1401(a)(l) of ERISA. At no time shall the Executive have or be deemed to have any lien nor right, title or interest in or to any specific investment or to any assets of the CompanyBank. If the Company Bank elects to invest in a life insurance, disability or annuity policy upon the life of the Executive, the Executive shall assist the Company Bank by freely submitting to a physical examination and supplying such additional information necessary to obtain such insurance or annuities.