No Right to Assets. Participation in the Plan does not create, in favor of any Participant or Beneficiary, any right or lien in or against any asset of the Company. Nothing contained in the Plan, and no action taken under its provisions, will create or be construed to create a trust of any kind, or a fiduciary relationship, between the Company and a Participant or any other person. The Company’s promise to pay benefits under the Plan will at all times remain unfunded as to each Participant and Beneficiary, whose rights under the Plan are limited to those of a general and unsecured creditor of the Company.
No Right to Assets. No person other than the Trustees of the Pension Fund shall have any right, title or interest in any of the income, or property of any funds received or held by or for the account of the Pension Fund, and no person shall have any right to benefits provided by the Pension Plan except as expressly provided herein.
No Right to Assets. (A) No person other than the Trustees of the Annuity Fund shall have any right, title or interest in any of the income or property of any funds received or held by or for the account of the Annuity Fund, and no person shall have any right to benefits provided by the Annuity Plan except as expressly provided herein.
No Right to Assets. Neither a Participant nor any other person shall acquire by reason of the Plan any right in or title to any assets, funds or property of Xxxxx and its subsidiaries whatsoever including, without limiting the generality of the foregoing, any specific funds or assets which Xxxxx, in its sole discretion, may set aside in anticipation of a liability hereunder. Xxxxx has established the 1994 Supplemental Executive Retirement Plan Trust, dated May 25, 1994 and amended and restated on July 25, 1994 (the "Trust"). Without limiting the generality of the foregoing, Section 1(d) of the Trust provides as follows: Plan participants and their beneficiaries shall have no preferred claim on, or any beneficial ownership interest in, any assets of Xxxxx. Any rights created under the Plan and this Agreement shall be mere unsecured contractual rights of Plan participants and their beneficiaries against Company. Any assets held by the Trust will be subject to the claims of Company's general creditors under federal and state law in the event of Insolvency, as defined in Section 3(a) herein. A Participant shall have only an unsecured contractual right to the amounts, if any, payable hereunder.
