Common use of TRANSFERS FROM QUALIFIED PLANS Clause in Contracts

TRANSFERS FROM QUALIFIED PLANS. (a) With the consent of the Administrator, amounts may be transferred from other qualified plans by Employees, provided that the trust from which such funds are transferred permits the transfer to be made and the transfer will not jeopardize the tax exempt status of the Plan or Trust or create adverse tax consequences for the Employer. The amounts transferred shall be set up in a separate account herein referred to as a "Participant's Rollover Account". Such account shall be fully Vested at all times and shall not be subject to Forfeiture for any reason.

Appears in 2 contracts

Samples: Telxon Corp, Aironet Wireless Communications Inc

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TRANSFERS FROM QUALIFIED PLANS. (a) With the consent of the Administrator, amounts may be transferred from other qualified plans by EmployeesParticipants, provided that the trust from which such funds are transferred permits the transfer to be made and the transfer will not jeopardize the tax exempt status of the Plan or Trust or create adverse tax consequences for the Employer. The amounts transferred shall be set up in a separate account herein referred to as a "Participant's Rollover Account". ." Such account shall be fully Vested at all times and shall not be subject to Forfeiture for any reason.

Appears in 1 contract

Samples: Allied Employee Stock Ownership Plan and Trust Agreement (Allied Capital Corp)

TRANSFERS FROM QUALIFIED PLANS. (a) With the consent of the Administrator, amounts may be transferred from other qualified plans by Eligible Employees, provided that the trust from which such funds are transferred permits the transfer to be made and the transfer will not jeopardize the tax exempt status of the Plan or Trust or create adverse tax consequences for the Employer. The amounts transferred shall be set up in a separate account herein referred to as a "Participant's Rollover Account". ." Such account shall be fully Vested at all times and shall not be subject to Forfeiture for any reason.

Appears in 1 contract

Samples: Ameritrade Holding Corp

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TRANSFERS FROM QUALIFIED PLANS. (a) With the consent of the Administrator, amounts may be transferred from other qualified plans by EmployeesParticipants, provided that the trust from which such funds are transferred permits the transfer to be made and the transfer will not jeopardize the tax exempt status of the Plan or Trust or create adverse tax consequences for the Employer. The amounts transferred shall be set up in a separate account herein referred to as a "Participant's Rollover Account". ." Such account shall be fully Vested at all times and shall not be subject to Forfeiture for any reason.

Appears in 1 contract

Samples: Fulton Financial (Fulton Financial Corp)

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