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This excerpt taken from the MRO DEF 14A filed Mar 13, 2007. 18. Unfunded
Plan. Insofar as it provides for Awards of cash, Common Stock
or rights thereto, this Plan shall be unfunded.
Although bookkeeping accounts may be established with respect to
Participants who are entitled to cash, Common Stock or rights thereto under
this Plan, any such accounts shall be used merely as a bookkeeping convenience.
The Corporation shall not be required to
segregate any assets that may at any time be represented by cash, Common Stock
or rights thereto, nor shall this Plan be construed as providing for such
segregation, nor shall the Corporation, the Board or the Committee be deemed to
be a trustee of any cash, Common Stock or rights thereto to be granted under
this Plan. Any liability or obligation
of the Corporation to any Participant with respect to an Award of cash, Common
Stock or rights thereto under this Plan shall be based solely upon any
contractual obligations that may be created by this Plan and any Award
Agreement, and no such liability or obligation of the Corporation shall be
deemed to be secured by any pledge or other encumbrance on any property of the
Corporation. Neither the Corporation nor
the Board nor the Committee shall be required to give any security or bond for
the performance of any obligation that may be created by this Plan.
I-13 |
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