Right to Annuity Contract. Notwithstanding any provision hereof to the contrary, the Employer shall have the right to sell or surrender the Annuity Contract without terminating this Agreement, provided the Employer replaces the Annuity Contract with a comparable annuity policy(ies) or arrangement that provides a similar benefit as that provided under the Annuity Contract. Without limitation, the Annuity Contract at all times shall be the exclusive property of the Employer and shall be subject to the claims of the Employer’s creditors.
Appears in 5 contracts
Samples: Supplemental Executive Retirement Plan Agreement, Supplemental Executive Retirement Plan Agreement (Wilson Bank Holding Co), Supplemental Executive Retirement Plan Agreement (Wilson Bank Holding Co)
