Unsecured Promise. Nothing contained in this Agreement shall create or require the Bank to create a trust of any kind to fund the benefits payable hereunder. To the extent that the Executive or any other person acquires a right to receive payments from the Bank, such individual shall at all times remain an unsecured general creditor of the Bank.
Appears in 4 contracts
Sources: Supplemental Executive Retirement Agreement (Home Federal Bancorp, Inc. Of Louisiana), Supplemental Executive Retirement Agreement (Home Federal Bancorp, Inc. Of Louisiana), Supplemental Executive Retirement Agreement (Home Federal Bancorp, Inc. Of Louisiana)