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Executive Vesting Clause: Article II, Section 1, Clause 1: The executive Power shall be vested in a President of the United States of America. He shall hold his Office during the Term of four Years, and, together with the Vice-President chosen for the same Term, be elected, as follows:[...] Judicial Vesting Clause: Article III, Section 1
In cases of partial vesting, a "vesting schedule" is a table or chart showing the portion of a right that is vested over time; typically the schedule provides for equal portions to vest on periodic vesting dates, usually once per day, month, quarter, or year, in stairstep fashion over the course of the vesting period.
A donee beneficiary is when a contract is made expressly for giving a gift to a third party, the third party is known as the donee beneficiary. The most common donee beneficiary contract is a life insurance policy. In the United States, the Restatement (Second) of Contracts, Chapter 6, Sections 133-147, covers third-party beneficiaries. [5]
A vesting period is the time an employee must work for an employer in order to own outright employee stock options, shares of company stock or employer contributions to a tax-advantaged retirement ...
A suicide clause is standard in the majority of issued life insurance policies. The suicide clause is in place to prevent individuals from purchasing a life insurance policy when they are ...
Now, more than ever, investing is an important part of retirement planning. Read on to learn about 401k vesting, vesting schedules, and how it effects you.
As a result, a state may not "deem" that an employee benefit plan is an insurance plan in an effort to sidestep preemption if the benefit plan would not otherwise meet the requirements as an insurance company or contract. The "deemer" clause therefore restricts the use of the "savings" clause to conventionally insured employee benefit plans. [20]
Suicide clause: Life insurance policies generally cover death by suicide, but not while the suicide clause is in effect, which is typically the first two years of the policy. After this period ...