OWNERSHIP RIGHT OF EMPLOYER Sample Clauses

OWNERSHIP RIGHT OF EMPLOYER. Except as provided below, in accordance with Sections 457(b)(6) and 457 (g) of the Code, until amounts under this Contract are distributed or made available to the Annuitant or the Annuitant's beneficiary in accordance with the terms of the Contract and the terms of the Plan, this Contract remains solely the property of the Employer (subject only to claims of the Employer's general creditors). If the Plan under which this Contract is purchased is maintained by Government Employer, the following three sentences apply: 1. The owner of this contract (which may be the Plan Trust or Employer or Plan Participant) holds it in trust for the exclusive benefit of the Plan participant and the participant's beneficiaries under the Plan, and it is not subject to the claims of the Employer's general creditors. 2. It is impossible, prior to the satisfaction of all liabilities with respect to the Plan participant and the participant's beneficiaries under the Plan, for any part of the assets and income of this Contract to be used for, or diverted to, purposes other than for the exclusive benefit of the Plan participant and the participant's beneficiaries under the Plan. 3. The last two sentences do not apply to a Governmental Employer Plan in existence on August 20, 1996 until January 1, 1999 (or any earlier Plan amendment date).
Sample 1
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OWNERSHIP RIGHT OF EMPLOYER. Notwithstanding any other provision of the terms of this Contract, until amounts under this Contract are distributed or made available to the Annuitant or the Annuitant's beneficiary in accordance with the terms of this Contract and the terms of the Plan, this Contract remains solely the property of the Employer subject only to claims of the Employer's general creditors. This Section shall be construed and administered in accordance with Section 457(b)(6) of the Code and the regulations thereunder. APPLICATION TO THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES Processing Office: Individual Annuity Center, P.O. Box 2996, New York, New York 10116-2996 QUALIFIED VARIABLE ANNUITY CONTRACT APPLICATION FOR: EQUITABLE'S INDIVIDUAL QUALIFIED DEFERRED VARIABLE ANNUITY ------------------------------------------------------------------------------- TYPE OF PURCHASE (Complete One Plan Only) A. |_| TSA PUBLIC SCHOOL (GV-PS-I) B. |_| TSA 501(c)(3) ORGANIZATION (GV-501-I) C. |_| TSA University (GV-PS-U-I) D. |_| IRA Individual (including IRA to IRA transfers) (XX-XXX 4971) E. |_| IRA Unit Billed (including IRA to IRA transfers) (XX-XXX 4971) F. |_| IRA QUALIFIED PLAN ROLLOVER-- (QP IRA) (Distribution from a Qualified Plan) (XX-XXX 4971-71) G. |X| EDC (Public Employee Deferred Compensation) (GV-EDC 4991) H. |_| EDC (Tax Exempt Organization) (GV-EDC 4991-SU-808) I. |_| SEP (Simplified Employee Pension) (GV-SEP 4981) J. |_| SARSEP (Salary Reduction SEP) _________________________________________ K. |_| CORPORATE TRUSTEED (GV-CORP 4941-41) L. |_| XXXXX/HR-10 TRUSTEE (GV HR-10 4911-11) (trustee owned) M. |_| XXXXX/HR-10 (GV-HR-10 4911) (not trustee owned) (issued to existing units only) -------------------------------------------------------------------------------- DO NOT COMPLETE THIS SECTION IF BOX 1.D OR 1.F CHECKED ABOVE
Sample 1
OWNERSHIP RIGHT OF EMPLOYER. Notwithstanding any other provision of the terms of this Contract, until amounts under this Contract are distributed or made available to the Annuitant or the Annuitant's beneficiary in accordance with the terms of this Contract and the terms of the Plan, this Contract remains solely the property of the Employer subject only to claims of the Employer's general creditors. This Section shall be construed and administered in accordance with Section 457(b)(6) of the Code and the regulations thereunder.
Sample 1
OWNERSHIP RIGHT OF EMPLOYER. Tax Exempt Employer Plans: In accordance with Sections 457(b)(6) and 457 (g) of the Code, until amounts under this Contract are distributed or made available to the Annuitant or the Annuitant's Beneficiary in accordance with the terms of the Contract and the terms of the Plan, this Contract remains solely the property of the Employer (subject only to claims of the Employer's general creditors).
Sample 1

Related to OWNERSHIP RIGHT OF EMPLOYER

  • No Right of Employment Nothing in this Agreement shall be construed as giving the Executive any right to be retained in the employ of the Company or shall interfere in any way with the right of the Company to terminate the Executive’s employment at any time, with or without Cause.

  • Transfer of Employment Notwithstanding any other provision ---------------------- herein to the contrary, the Company shall cease to have any further obligation or liability to the Executive under this Agreement if (a) the Executive's employment with the Company terminates as a result of the transfer of his employment to any other Affiliate of the Corporation, (b) this Agreement is assigned to such other Affiliate, and (c) such other Affiliate expressly assumes and agrees to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no assignment had taken place. Any Affiliate to which this Agreement is so assigned shall be treated as the "Company" for all purposes of this Agreement on or after the date as of which such assignment to the Affiliate, and the Affiliate's assumption and agreement to so perform this Agreement, becomes effective.

  • Transfer of Employees At least three (3) regular work days' notice shall be given to the Union and the employees before workers are transferred from one reporting headquarters to another reporting headquarters. Upon failure to give three (3) days' notice, as stated above, the Employer shall pay one (1) additional day's subsistence for each day notice is not given, as defined in paragraph 5.2 to the existing shop headquarters. Where such penalty is applicable, it shall be based upon the headquarters from which the employee is being transferred. The notice of transfer required by this Section to be given to the Union shall be in writing to the Local Union's Business Office. The postmark date of such letter shall govern compliance. If the transfer is the result of the employee's request made through his/her Xxxxxxx or if no Xxxxxxx is available, the Business Representative, the reimbursement shall be waived.

  • Employment of Employee (a) Except as provided in Sections 2(b), 2(c) and 2(d), nothing in this Agreement shall affect any right which Employee may otherwise have to terminate Employee's employment, nor shall anything in this Agreement affect any right which the Company may have to terminate Employee's employment at any time in any lawful manner. (b) In the event of a Potential Change in Control, to be entitled to receive the benefits provided by this Agreement, Employee will not voluntarily leave the employ of the Company, and will continue to perform Employee's regular duties and the services specified in the recitals of this Agreement until the Change in Control Date. Should Employee voluntarily terminate employment prior to the Change in Control Date, this Agreement shall lapse upon such termination and be of no further force or effect. (c) If Employee's employment terminates on or after the Change in Control Date, the Company will provide to Employee the payments and benefits as provided in Sections 3 and 4. (d) If Employee's employment is terminated by the Company prior to the Change in Control Date but on or after a Potential Change in Control Date, then the Company will provide to Employee the payments and benefits as provided in Sections 3 and 4 unless the Company reasonably demonstrates that Employee's termination of employment neither (i) was at the request of a third party who has taken steps reasonably calculated to effect a Change in Control nor (ii) arose in connection with or in anticipation of a Change in Control. Solely for purposes of determining the timing of payments and the provision of benefits in Sections 3 and 4 under the circumstances described in this Section 2(d), Employee's date of termination shall be deemed to be the Change in Control Date.

  • Abandonment of Employment Where an employee absents him/herself from work for a continuous period exceeding three working days without the consent of the employer and without notification to the employer, and without good cause, he/she shall be deemed to have terminated his/her employment without notice.

  • Statement of Employment An employer shall, in the event of termination of employment, provide upon request to the employee who has been terminated a written statement specifying the period of employment and the classification or type of work performed by the employee.

  • Work Product Ownership All products of the Contractor’s work, including outlines, reports, charts, sketches, drawings, art work, plans, photographs, specifications, estimates, computer programs, or similar documents become the sole property of the State of Vermont and may not be copyrighted or resold by Contractor.

  • CONTRACT OF EMPLOYMENT 22.1 At the point of engagement of each Employee, the Employer must inform the person in writing whether the engagement is on a permanent, casual or job share basis, stating by whom the Employee is employed, the job performed, the classification level, office from which they are engaged and the relevant rate of pay. Employees may relocate and transfer their office of engagement provided that there has been consultation between the Parties and it is agreed in writing between the Employer and the Employee. Each new Employee shall upon commencement also be provided with a copy of this Agreement, or alternatively, access to the Agreement in electronic format at the discretion of the Employee. 22.2 The Employer may direct an Employee to carry out such duties as are reasonably within the limits of the Employee's skill, competence and training consistent with the Employee's classification provided that such duties do not promote deskilling. 22.3 If an Employee is absent from work for a period for which they have or will claim workers' compensation, the Employee's contract of employment shall remain intact during the period of absence. The Employer shall continue to make contributions (and where applicable, reports of service) on behalf of the Employee to BUSSQ, XXXX, BEWT, CIPQ and Qleave or NTBuild or other funds nominated herein. The Employee shall also continue to accrue all appropriate leave entitlements for the first twelve months of the Employee's absence due to the workers compensation claim.

  • Restriction of Employee Status The status of all employees covered by this Agreement shall be defined under one of the preceding three (3) definitions. If a dispute arises over the proper allocation of employee status, such dispute shall be resolved through Article 9.04

  • RIGHTS OF EMPLOYEES 4.01 Nothing in this Agreement shall be construed as an abridgement or restriction of any employee’s constitutional rights or of any right expressly conferred in an Act of the Parliament of Canada.

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