Benefits Unfunded. All rights of Executive and his spouse or other beneficiary under this Agreement shall at all times be entirely unfunded and no provision shall at any time be made with respect to segregating any assets of Employer for payment of any amounts due hereunder. Neither Executive nor his spouse or other beneficiary shall have any interest in or rights against any specific assets of Employer, and Executive and his spouse or other beneficiary shall have only the rights of a general unsecured creditor of Employer.
Benefits Unfunded. All rights under this Agreement of the Executive and Beneficiaries will at all times be entirely unfunded, and no provision will at any time be made with respect to segregating any assets of Fidelity or any Affiliate for payment of any amounts due hereunder. The Executive and Beneficiaries will have only the rights of general unsecured creditors of Fidelity.
Benefits Unfunded. (i) All rights of Employee and his spouse, dependent or any other beneficiary under this Agreement shall at all times be entirely unfunded and no provision shall at any time be made with respect to segregating any assets of Employer for payment of any amounts due hereunder; (ii) neither Employee nor his spouse, dependent or any other beneficiary shall have any interest in or rights against any specific assets of Employer; and (iii) Employee and his spouse, dependent or any other beneficiary shall have only the rights of a general unsecured creditor of Employer.
Benefits Unfunded. All rights under this Agreement of Executive and his spouse, Beneficiary or other beneficiary under the Pension Plans, shall at all times be entirely unfunded, and no provision shall at any time be made with respect to segregating any assets of Employer for payment of any amounts due hereunder. None of Executive, his spouse, Beneficiary or any other beneficiary under the Pension Plans shall have any interest in or rights against any specific assets of Employer, and Executive and his spouse, Beneficiary or other beneficiary shall have only the rights of a general unsecured creditor of Employer.
Benefits Unfunded. All rights of Employee and his spouse or other beneficiary under this Agreement shall at all times be entirely unfunded and no provision shall at any time be made with respect to segregating any assets of Employer for payment of any amounts due hereunder. Neither Employee nor his spouse or other beneficiary shall have any interest in or rights against any specific assets of Employer.
Benefits Unfunded. This Agreement is completely separate from and is not a part of any other plan, qualified or nonqualified, of the Company and its subsidiaries. The benefits payable hereunder, if any, are in addition to those that may be provided to the Executive under any other plan, arrangement or agreement. Further, the benefits payable hereunder are completely unfunded and shall be payable by the Company solely out of its general assets and the Executive and his spouse shall be unsecured, general creditors of the Company with respect to such benefits; provided, however, the Company, in its discretion, may establish a grantor or "rabbi" trust to pay all or part of the benefits it may be required to pay under this Agreement, in which event this Agreement shall be deemed to be a part of such trust agreement and the Executive hereby waives, with respect to the assets of such rabbi trust, any preference he may have under state law with respect to such assets and acknowledges that he shall be a general, unsecured creditor of the Company with respect to the same.
Benefits Unfunded. Except as otherwise provided in Section 13, all rights under this Agreement of Executive and his spouse, Beneficiary or other beneficiary under the Pension Plans, shall at all times be entirely unfunded, and no provision shall at any time be made with respect to segregating any assets of Employer for payment of any amounts due hereunder. None of Executive, his spouse, Beneficiary or any other beneficiary under the Pension Plans shall have any interest in or rights against any specific assets of Employer, and Executive and his spouse, Beneficiary or other beneficiary shall have only the rights of a general unsecured creditor of Employer. Except as otherwise provided in Section 13, and notwithstanding the preceding provisions of this Section, the Nominating and Compensation Committee of the Board of Directors of Employer, in its discretion, shall have the right, at any time and from time to time, to cause amounts payable to Executive or his Beneficiary hereunder to be paid to the trustee of the NIPSCO Industries, Inc. Umbrella Trust For Management established effective January 1, 1991, as amended from time to time, or any similar trust at any time established by Employer ("Trust").
Benefits Unfunded. All rights under this Agreement of Executive and his spouse, Beneficiary or other beneficiary under the plans, shall at all times be entirely unfunded, and no provision shall at any time be made with respect to segregating any assets of Employer for payment of any amounts due hereunder. None of Executive, his spouse, Beneficiary or any other beneficiary under the plans shall have any interest in or rights against any specific assets of Employer, and Executive and his spouse, Beneficiary or other beneficiary shall have only the rights of a general unsecured creditor of Employer. Notwithstanding the preceding provisions of this Section, the Officer Nominating and Compensation Committee of the Board of Directors of Employer, in its discretion, shall have the right, at any time and from time to time, to cause amounts payable or potentially payable to Executive or his Beneficiary hereunder to be paid to the trustee of a Rabbi Trust or any similar trust to be established by Employer (“Trust”).
Benefits Unfunded. All rights under this Agreement of Executive and his spouse or other beneficiary, shall at all times be entirely unfunded, and no provision shall at any time be made with respect to segregating any assets of Bancorp or the Bank for payment of any amounts due hereunder. Neither Executive nor his spouse or other beneficiary, shall have any interest in or rights against any specific assets of Bancorp or the Bank, and Executive and his spouse and other beneficiary shall have only the rights of a general unsecured creditor of Bancorp and the Bank.
Benefits Unfunded. All rights under this Agreement of the Executive and Beneficiaries will at all times be entirely unfunded, and no provision will at any time be made with respect to segregating any assets of Jefferson for payment of any amounts due hereunder. The Executive and Beneficiaries will have only the rights of general unsecured creditors of Jefferson.
