No Trust Relationship. Nothing contained in this Employment Agreement and no action taken pursuant to the provisions of this Employment Agreement shall create or be construed to create a trust of any kind, or a fiduciary relationship between the Company and Employee. Any amounts or assets referred to under the provisions of this Employment Agreement shall continue for all purposes to be a part of the general funds of the Company, and no person other than the Company shall by virtue of the provisions of this Employment Agreement have any interest in such funds. To the extent that any person acquires a right to receive payments from the Company under this Employment Agreement, such rights shall be no greater than the right of any unsecured creditor of the Company.
Appears in 1 contract
Sources: Stock Purchase and Sale Agreement (Timberline Resources Corp)
No Trust Relationship. Nothing contained in this Employment Agreement and no action taken pursuant to the provisions of this Employment Agreement shall create or be construed to create a trust of any kind, or a fiduciary relationship between the Company and Employee. Any amounts or assets referred to under the provisions of this Employment Agreement shall continue for all purposes to be a part of the general funds of the Company, and no person other than the Company shall by virtue of the provisions of this Employment Agreement have any interest in such funds. To the extent that any person acquires a right to receive payments from the Company under this Employment Agreement, such rights shall be no greater than the right of any unsecured creditor of the Company.. EMPLOYMENT AGREEMENT - 8
Appears in 1 contract
Sources: Stock Purchase and Sale Agreement (Timberline Resources Corp)