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.
Appears in 7 contracts
Samples: Stock Option Agreement (Transaction Systems Architects Inc), Stock Option Agreement (Transaction Systems Architects Inc), Stock Option Agreement (Transaction Systems Architects Inc)
Benefits Unfunded. All rights of Employee and his spouse or other beneficiary under this the 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, and Employee and his spouse or other beneficiary shall have only the rights of a general unsecured creditor of Employer.
Appears in 2 contracts
Samples: Employment Agreement (Enesco Group Inc), Employment Agreement (Enesco Group Inc)
Benefits Unfunded. All rights of Employee and his spouse or other beneficiary under this the Agreement shall at all times be entirely unfunded except with respect to pension benefit plans, if any, 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, and the Employee and his spouse or other beneficiary shall have only the rights of a general unsecured creditor of Employer.
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