Unfunded Agreement. The obligations of the Company under this Agreement shall be paid from the general assets of the Company not from any particular fund. The Director shall have the status of a general unsecured creditor of the Company, and the Agreement constitutes a mere promise by the Company to make benefit payments in the future. Nothing contained in this Agreement shall be interpreted to grant to the Director or any Beneficiary, any right, title or interest in any property of the Company or its shareholders.
Appears in 4 contracts
Samples: Board of Directors Services Agreement (Helpful Alliance Co), Board of Directors Services Agreement (Helpful Alliance Co), Board of Directors Services Agreement (Helpful Alliance Co)
Unfunded Agreement. The obligations of the Company under this Agreement shall be paid from the general assets of the Company not from any particular fund. The Director Executive shall have the status of a general unsecured creditor of the Company, and the Agreement constitutes a mere promise by the Company to make benefit payments in the future. Nothing contained in this Agreement shall be interpreted to grant to the Director Executive or any Beneficiary, any right, title or interest in any property of the Company or its shareholdersstockholders.
Appears in 1 contract
Samples: Deferred Compensation Agreement (Interstate Data Usa Inc)
