Common use of Amount of Deferral Clause in Contracts

Amount of Deferral. Subject to the limitations set forth in this Agreement, ________ shall be entitled to deferred compensation payments on his continuing employment with the Corporation until he reaches age sixty-five (65) or at such earlier age as provided for in this Agreement. Although the varying amounts payable to ________ as deferred compensation in the event of a termination of his employment prior to his reaching age sixty-five (65) are set forth in this Agreement, no funds or other property shall be set aside for the payment of any amounts due to ________. ________'s rights are limited to the rights to receive payments as provided under this Agreement, and his position with respect thereto is that of a general, unsecured creditor of the Corporation.

Amount of Deferral. Subject to the limitations set forth in this Agreement, ________ shall be entitled to deferred compensation payments on his continuing employment with the Corporation until he reaches age sixty-five (65) or at such earlier age as provided for in this Agreement. Although the varying amounts payable to ________ as deferred compensation in the event of a termination of his employment prior to his reaching age sixty-five (65) are set forth in this Agreement, no funds or other property shall be set aside for the payment of any amounts due to ________. ________'s rights are limited to the rights to receive payments as provided under this Agreement, and his position with respect thereto is that of a general, unsecured creditor of the Corporation.