Common use of Unfunded Status of Plan Clause in Contracts

Unfunded Status of Plan. Unless otherwise determined by the Committee, the Plan shall be unfunded and shall not create (or be construed to create) a trust or a separate fund or funds. The Plan shall not establish any fiduciary relationship between the Company and any Key Employee Participant, Non-Employee Director Participant, Advisor or other person. To the extent any person holds any right by virtue of a grant under the Plan, such right (unless otherwise determined by the Committee) shall be no greater than the right of an unsecured general creditor of the Company.

Unfunded Status of Plan. Unless otherwise determined by the CommitteeCommittee or Board, as applicable, the Plan shall be unfunded and shall not create (or be construed to create) a trust or a separate fund or funds. The Plan shall not establish any fiduciary relationship between the Company and any Key Employee Participant, Non-Employee Director Participant, Advisor Participant or other person. To the extent any person holds any right by virtue of a grant under the Plan, such right (unless otherwise determined by the CommitteeCommittee or Board, as applicable) shall be no greater than the right of an unsecured general creditor of the Company.