Prohibition Against Mis-Application of Royalty. To the extent that any portion of the Royalty is payable, paid or allocated pursuant to this Agreement to or for the benefit of any Licensor which is a pension, profit sharing or other retirement plan (a "Qualified Plan" or "Plan") covered by the Employee Retirement Income Security Act of 1974 under Section (“§”) §401 of the U.S. Internal Revenue Code (the “IRC”) as compiled in 26 United States Code §401, or any Individual Retirement Account or similar plan under IRC §408 or IRC §408A (also a "Plan"), no amount shall be paid or allocated to the individual beneficiaries of such Plan in relation thereto, except by, through and in accordance with the terms of the Plan, or in excess of the compensations, emoluments and benefits permitted to be accrued, paid and/or allocated to the Plan beneficiary under IRC §4975(d)(9), which specifically provides that:
Appears in 7 contracts
Samples: Intellectual Property License Agreement, Intellectual Property License Agreement, Intellectual Property License Agreement
