Funding by the Bank. (a) The Bank shall be under no obligation to set aside, earmark or otherwise segregate any funds with which to pay its obligations under this Agreement. The Executive shall be and remain an unsecured general creditor of the Bank with respect to the Bank’s obligations hereunder. The Executive shall have no property interest in the assets of the Bank or any other rights with respect thereto.
Appears in 7 contracts
Samples: Retirement Benefits Agreement (National Commerce Corp), Retirement Benefits Agreement (National Commerce Corp), Retirement Benefits Agreement (National Commerce Corp)
Funding by the Bank. (a) The Bank shall be under no obligation to set aside, earmark or otherwise segregate any funds with which to pay its obligations under this Agreement. The Executive shall be and remain an unsecured general creditor of the Bank with respect to the Bank’s obligations hereunder. The Executive shall have no property interest in the assets of the Bank Retirement Account or any other rights with respect thereto.
Appears in 3 contracts
Samples: Supplemental Executive Retirement Benefits Agreement (Southeastern Bank Financial CORP), Supplemental Executive Retirement Benefits Agreement (Southeastern Bank Financial CORP), Supplemental Executive Retirement Benefits Agreement (Southeastern Bank Financial CORP)
