Unfunded Status. This Agreement is intended to constitute an unfunded plan for incentive compensation. Nothing contained herein shall give Executive any rights that are greater than those of a general unsecured creditor of the Company. In its sole discretion, the Compensation Committee may authorize the creation of trusts, acquisition of life insurance policies or other arrangements to meet the obligations created under this Agreement.
Appears in 11 contracts
Samples: Employment Agreement, Employment Agreement (KLX Inc.), Employment Agreement (KLX Inc.)
Unfunded Status. This Agreement is intended to constitute an unfunded plan for incentive compensation. Nothing Except with respect to the Retirement Compensation, nothing contained herein shall give Executive any rights that are greater than those of a general unsecured creditor of the Company. In its sole discretion, the Compensation Committee may authorize the creation of trusts, acquisition of life insurance policies or other arrangements to meet the obligations created under this Agreement.
Appears in 4 contracts
Samples: Employment Agreement (B/E Aerospace Inc), Employment Agreement (B/E Aerospace Inc), Employment Agreement (Be Aerospace Inc)
Unfunded Status. This Agreement is intended to constitute an unfunded plan for incentive compensation. Nothing Except with respect to the Retirement Compensation, nothing contained herein shall give the Executive any rights that are greater than those of a general unsecured creditor of the Company. In its sole discretion, the Stock Option and Compensation Committee of the Board may authorize the creation of trusts, acquisition of life insurance policies or other arrangements to meet the obligations created under this Agreement.
Appears in 3 contracts
Samples: Employment Agreement (Be Aerospace Inc), Employment Agreement (Be Aerospace Inc), Employment Agreement (Be Aerospace Inc)
Unfunded Status. This Agreement is intended to constitute an unfunded plan for incentive compensation. Nothing contained herein shall give Executive any rights that are greater than those of a general unsecured creditor of the Company. In its sole discretion, the Compensation Committee may authorize the creation of trusts, acquisition acquisitions of life insurance policies or other arrangements to meet the obligations created under this Agreement.
Appears in 3 contracts
Samples: Employment Agreement (KLX Inc.), Amended And (KLX Inc.), Employment Agreement (KLX Inc.)
Unfunded Status. This Agreement is intended to constitute an unfunded plan for incentive compensation. Nothing Except with respect to the Retirement Compensation following the Vesting Date, nothing contained herein shall give Executive any rights that are greater than those of a general unsecured creditor of the Company. In its sole discretion, the Compensation Committee of the Board may authorize the creation of trusts, acquisition of life insurance policies or other arrangements to meet the obligations created under this Agreement.
Appears in 1 contract
Unfunded Status. This Agreement is intended to constitute an unfunded plan for incentive compensation. Nothing Except with respect to the Retirement Compensation following the Vesting Date, nothing contained herein shall give the Executive any rights that are greater than those of a general unsecured creditor of the Company. In its sole discretion, the Stock Option and Compensation Committee of the Board may authorize the creation of trusts, acquisition of life insurance policies or other arrangements to meet the obligations created under this Agreement.
Appears in 1 contract
