When putting your income into NQDCP, one big concern is

This plan is an unfunded, nonqualified plan, and no funded account has been established for you. Any account is only a recordkeeping account that records your deferred compensation and any notional earnings applicable to your deferred compensation. In the event of a bankruptcy or insolvency, you would be an unsecured, general creditor of the employer or service recipient.

Just copied this short portion from the brochure sent to me in email by our company asking to enroll into the next year plan.