Common use of No Trust or Fund Clause in Contracts

No Trust or Fund. The Plan is intended to constitute an “unfunded” plan. Nothing contained herein shall require the Company to segregate any monies or other property, or shares of Common Stock, or to create any trusts, or to make any special deposits for any immediate or deferred amounts payable to any Participant, and no Participant shall have any rights that are greater than those of a general unsecured creditor of the Company.

Appears in 2 contracts

Samples: Restricted Stock Agreement (LSB Industries Inc), Restricted Stock Agreement (LSB Industries Inc)

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No Trust or Fund. The Plan is intended to constitute an “unfunded” plan. Nothing contained herein shall require the Company to segregate any monies or other property, or shares of Common StockShares, or to create any trusts, or to make any special deposits for any immediate or deferred amounts payable to any Participant, and no Participant shall have any rights that are greater than those of a general unsecured creditor of the Company.

Appears in 1 contract

Samples: Award Agreement (Sumtotal Systems Inc)

No Trust or Fund. The This Plan is intended to constitute an “unfunded” plan. Nothing contained herein shall require the Company to segregate any monies or other property, or shares of Common Stock, or to create any trusts, or to make any special deposits for any immediate or deferred amounts payable to any Participant, and no Participant shall have any rights that are greater than those of a general unsecured creditor of the Company.

Appears in 1 contract

Samples: Employment Agreement (Strategic Hotels & Resorts, Inc)

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No Trust or Fund. The Plan is intended to constitute an "unfunded" plan. Nothing contained herein shall require the Company to segregate any monies or other property, or shares of Common Stock, or to create any trusts, or to make any special deposits for any immediate or deferred amounts payable to any ParticipantOptionee, and no Participant Optionee shall have any rights that are greater than those of a general unsecured creditor of the Company.

Appears in 1 contract

Samples: Infoseek Corp /De/

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