BEC » Topics » 6.2 - Unsecured General Creditor .

These excerpts taken from the BEC 10-K filed Feb 23, 2009.

6.2 - Unsecured General Creditor.

All Eligible Employees and their heirs, successors, assigns and personal representatives shall have no legal or equitable rights, claims, or interest in any specific property or assets of the Company with respect to benefits payable under the Plan. No assets of the Company shall be held under any trust, or held in any way as collateral security for the fulfillment of the obligations of the Company under the Plan. The Company’s assets shall be, and remain, the general, unpledged, unrestricted assets of the Company. The

 

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Company’s obligation under the Plan shall be merely that of an unfunded and unsecured promise of the Company to pay money in the future, and the rights of all Eligible Employees shall be no greater than those of unsecured general creditors.

6.2 - Unsecured General Creditor.

STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%">All Eligible Employees and their heirs, successors, assigns and personal representatives shall have no legal or equitable rights, claims, or interest in
any specific property or assets of the Company with respect to benefits payable under the Plan. No assets of the Company shall be held under any trust, or held in any way as collateral security for the fulfillment of the obligations of the Company
under the Plan. The Company’s assets shall be, and remain, the general, unpledged, unrestricted assets of the Company. The

 


23









Company’s obligation under the Plan shall be merely that of an unfunded and unsecured promise of the Company to pay money in the future, and the rights
of all Eligible Employees shall be no greater than those of unsecured general creditors.

This excerpt taken from the BEC 8-K filed Feb 26, 2008.

6.2 - Unsecured General Creditor.

All Eligible Employees and their heirs, successors, assigns and personal representatives shall have no legal or equitable rights, claims, or interest in any specific property or assets of the Company with respect to benefits payable under the Plan. No assets of the Company shall be held under any trust, or held in any way as collateral security for the fulfillment of the obligations of the Company under the Plan. The Company’s assets shall be, and remain, the general, unpledged, unrestricted assets of the Company. The Company’s obligation under the Plan shall be merely that of an unfunded and unsecured promise of the Company to pay money in the future, and the rights of all Eligible Employees shall be no greater than those of unsecured general creditors.

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