Shared Employees definition
Examples of Shared Employees in a sentence
If there are Shared Employees, the Adviser shall maintain errors and omissions and fidelity bond insurance policies providing reasonable coverage for its employee’s activities and shall provide copies of such policies to the Distributor.
If there are Shared Employees, one employee of the Adviser shall register as a principal of the Distributor and assist the Distributor in monitoring the marketing and sales activities of the Shared Employees.
The Adviser agrees that only its employees who are registered representatives of the Distributor (“Shared Employees”) shall offer or sell Shares of the Portfolios and further agrees that the activities of any such Shared Employees as registered representatives of the Distributor shall be limited to offering and selling Shares.
Shared Employees should seek guidance on the foregoing restrictions from the Screening Officers to the extent that they are uncertain as to an appropriate course of action.
During the term of this Agreement, Client will maintain all licenses necessary to carry out its business and engage in the services performed by the Shared Employees.