Common use of Unfunded Plan Clause in Contracts

Unfunded Plan. This Plan is intended to be an unfunded plan maintained primarily to provide deferred compensation benefits for a select group of “management or highly compensated employees” within the meaning of Sections 201, 301, and 401 of the Employee Retirement Income Security act of 1974, as amended (“ERISA”), and therefore to be exempt from the provisions of Parts 2, 3, and 4 of Title I ERISA. Accordingly, the Plan shall terminate and no further benefits shall be paid hereunder in the event it is determined by a court of competent jurisdiction or by an opinion of counsel that the Plan constitutes an employee pension benefit plan within the meaning of Section 3(2) of ERISA which is not so exempt.

Unfunded Plan. This Plan is intended to be an unfunded plan maintained primarily to provide deferred compensation benefits for a select group of “management or highly compensated compensation employees” within the meaning of Sections 201, 301, and 401 of the Employee Retirement Income Security act of 1974, as amended (“ERISA”), and therefore to be exempt from the provisions of Parts 2, 3, and 4 of Title I of ERISA. Accordingly, the Plan shall terminate and no further benefits shall be paid hereunder in the event it is determined by a court of competent jurisdiction or by an opinion of counsel that the Plan constitutes an employee pension benefit plan within the meaning of Section 3(2) of ERISA which is not so exempt.

Unfunded Plan. This Plan plan is intended to be an unfunded plan maintained primarily to provide deferred compensation benefits for a select group of “"management or highly highly-compensated employees” " within the meaning of Sections 201, 301, and 401 of the Employee Retirement Income Security act of 1974, as amended (“ERISA”), and therefore to be is exempt from the provisions of Parts 2, 3, 3 and 4 of Title I of ERISA. Accordingly, the Board may terminate the Plan shall terminate and make no further benefits shall be paid hereunder in the event benefit payments or remove certain employees as Participants if it is determined by the United States Department of Labor, a court of competent jurisdiction jurisdiction, or by an opinion of counsel that the Plan constitutes an employee pension benefit plan within the meaning of Section 3(23 (2) of ERISA (as currently in effect or hereafter amended) which is not so exempt.

Unfunded Plan. This Plan is intended to be an unfunded plan maintained primarily to provide deferred compensation benefits for a select group of “management or highly compensated employees” within the meaning of Sections 201, 301, and 401 of the Employee Retirement Income Security act of 1974, as amended (“ERISA”), and therefore to be exempt from the provisions of Parts 2, 3, and 4 of Title I 1 ERISA. Accordingly, the Plan shall terminate and no further benefits shall be paid hereunder in the event it is determined by a court of competent jurisdiction or by an opinion of counsel that the Plan constitutes an employee pension benefit plan within the meaning of Section 3(2) of ERISA which is not so exempt.

Unfunded Plan. This Plan is intended to be an unfunded plan maintained primarily to provide deferred compensation supplemental retirement benefits for a select group of “"management or highly compensated employees” " within the meaning of Sections 201, 301, 301 and 401 of the Employee Retirement Income Security act Act of 1974, as amended (“"ERISA”"), and therefore to be exempt from the provisions of Parts 2, 3, 3 and 4 of Title I of ERISA. Accordingly, the Plan shall terminate and no further benefits shall be paid hereunder in the event it is determined by a court of competent jurisdiction or by an opinion of counsel that the Plan constitutes an employee pension benefit plan within the meaning of Section 3(2) of ERISA which is not so exempt.

Unfunded Plan. This Plan is intended to be an unfunded plan maintained primarily to provide deferred compensation benefits for a select group of “"management or highly compensated employees” " within the meaning of Sections 201, 301, and 401 of the Employee Retirement Income Security act of 1974, as amended (“"ERISA”"), and therefore to be exempt from the provisions of Parts 2, 3, and 4 of Title I ERISA. Accordingly, the Plan shall terminate and no further benefits shall be paid hereunder in the event it is determined by a court of competent jurisdiction or by an opinion of counsel that the Plan constitutes an employee pension benefit plan within the meaning of Section 3(2) of ERISA which is not so exempt.