Common use of Unfunded Status Clause in Contracts

Unfunded Status. Neither Executive nor any other person or entity claiming a benefit under or through Executive or otherwise shall have any right, title or interest by reason of the bonus hereunder to any particular assets of the Subsidiary or any of its subsidiaries or affiliates. There shall be no funding of any amounts which may become payable hereunder. Neither the Subsidiary nor any of its subsidiaries or affiliates shall be required to establish any fund or make any other segregation of assets to assure satisfaction of the obligations under this Agreement. Nothing in this Agreement gives Executive or any other person or entity claiming a benefit under or through Executive any rights that are greater than those of a general unsecured creditor of the Subsidiary or any of its subsidiaries or affiliates. Any amount payable hereunder shall be paid from the general assets of the Subsidiary, and no special or separate fund or deposit shall be established and no segregation of assets shall be made to assure payment of such amounts.

Unfunded Status. Neither Executive nor any other person or entity claiming a benefit under or through Executive or otherwise shall have any right, title or interest by reason of the bonus hereunder to any particular assets of the Subsidiary Company or any of its subsidiaries or affiliates. There shall be no funding of any amounts which may become payable hereunder. Neither the Subsidiary Company nor any of its subsidiaries or affiliates shall be required to establish any fund or make any other segregation of assets to assure satisfaction of the obligations under this Agreement. Nothing in this Agreement gives Executive or any other person or entity claiming a benefit under or through Executive any rights that are greater than those of a general unsecured creditor of the Subsidiary Company or any of its subsidiaries or affiliates. Any amount payable hereunder shall be paid from the general assets of the SubsidiaryCompany, and no special or separate fund or deposit shall be established and no segregation of assets shall be made to assure payment of such amounts.