TRANSFERS INVOLVING A SIMILAR CONTRACT OF ANOTHER EMPLOYER Clause Samples

The "Transfers Involving a Similar Contract of Another Employer" clause governs situations where an employee is transferred to a new employer who has a contract similar to the one under which the employee was previously working. This clause typically outlines the conditions under which such transfers can occur, such as ensuring continuity of employment terms, recognizing prior service, or specifying the process for transferring accrued benefits. Its core practical function is to protect employees' rights and maintain consistency in employment conditions during organizational changes, thereby reducing uncertainty and potential disputes when employees move between employers with comparable contractual arrangements.
TRANSFERS INVOLVING A SIMILAR CONTRACT OF ANOTHER EMPLOYER. A Participant may cease to be employed by an employer who pays contributions under this contract. He may become employed by an employer to whom Prudential has issued a contract similar to this contract. If so, that Participant may request a transfer to that similar contract from this contract but only under the conditions permitted by the Plan, if any. The transfer will normally be made within seven days of receipt of the request. The dollar value of the Participant's Account will be the amount transferred. The Account will be cancelled. Also, this contract will accept a transfer from a contract similar to this contract for a person covered thereunder who becomes employed by an employer who pays contributions under this contract. The transferred amount will be treated as a contribution paid for that person. However, in determining any withdrawal charge, any part of the transferred amount which is investment income will not be considered a contribution. This section may be changed as provided in section 5.1. GVA-120-87 (10/11) Serial 330 3.5
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TRANSFERS INVOLVING A SIMILAR CONTRACT OF ANOTHER EMPLOYER. A Participant may cease to be employed by the Contract-Holder. He may become employed by an employer to whom Prudential has issued a contract similar to this contract. If so, that Participant may request a transfer to that similar contract from this contract. The transfer will normally be made within seven days of receipt of the request. The dollar value of the Participant's Account will be the amount transferred. The Account will be cancelled. Also, this contract will accept a transfer from a contract similar to this contract for a person covered thereunder who becomes employed by the Contract-Holder. The transferred amount will be treated as a contribution paid for that person. However, in determining any withdrawal charge, any part of the transferred amount which is investment income will not be considered a contribution. This section may be changed as provided in section 5.1. GVA-1000 Serial 320 3.5
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TRANSFERS INVOLVING A SIMILAR CONTRACT OF ANOTHER EMPLOYER. A Participant may cease to be employed by an employer who pays contributions under this contract. He may become employed by an employer to whom Prudential has issued a contract similar to this contract. If so, that Participant may request a transfer to that similar contract from this contract but only under the conditions permitted by the Plan, if any. The transfer will normally be made within seven days of receipt of the request. The dollar value of all of the Participant's Accounts will be the amount transferred. The Accounts will be cancelled. Also, this contract will accept a transfer from a contract similar to this contract for a person covered thereunder who becomes employed by an employer who pays contributions under this contract. The transferred amount will be treated as a contribution paid for that Participant and will be added to one or more Subaccounts, as directed by the Participant. However, in determining any withdrawal charge, any part of the transferred amount which is investment income will not be considered a contribution. This section may be changed as provided in section 5.1. GVA-120-87 (24) (as modified by Group Annuity Amendment Form GAA-7764) Serial 350 3.4-3.5
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TRANSFERS INVOLVING A SIMILAR CONTRACT OF ANOTHER EMPLOYER. A Participant may cease to be employed by an employer who pays contributions under this contract. He may become employed by an employer to whom Prudential has issued a contract similar to this contract. If so, that Participant may, subject to written authorization from the Contract-▇▇▇▇▇▇, request a transfer to that similar contract from this contract. The transfer will normally be made within seven days of both receipt of the request and authorization. The dollar value of the non-forfeitable part of the of the Participant's Account will be the amount transferred. The Account will be cancelled. Also, this contract will accept a transfer from a contract similar to this contract for a person covered thereunder who becomes employed by an employer who pays contributions under this contract. The transferred amount will be treated as a contribution paid for that person. However, (a) in determining any withdrawal charge, any part of the transferred amount which is investment income will not be considered a contribution, and (b) the transfer is subject to written authorization from the Contract-Holder. This section may be changed as provided in section 5.1. GVA-7454 Serial 320 3.5
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  • Special Permit from Relevant Ministerial/ Government Agencies and Foreign Capital Ownership Limitation Cultivation of Agricultural Germ Plasm, including food crops, horticulture, plantation, livestock (maximum foreign capital ownership 49%) with special permit from the Minister of Agriculture (ISIC 0111, 0112, 0113, 0121, 0122) Cultivation and Processing of Genetically Modified Organism (GMO) Products (maximum foreign capital ownership 49%) with special permit from the Minister of Agriculture (ISIC 0111, 0112, 0113, 0121, 0122) For each individual crop cultivation in an area of more than 25 hectares with special permit from the Minister of Agriculture: - Main food crops are corn, soy, peanuts, green beans, rice, cassava, sweet potato (maximum foreign capital ownership 49%) (ISIC 0111, 0112) - Other food crops are wheat, oats, barley, rye, millet, taro, and other food crops not classified elsewhere (maximum foreign capital ownership 95%) (ISIC 0111, 0112). For each individual crop culturing medium/nursery business with special permit from the Minister of Agriculture: - Main food crops are corn, soy, peanuts, green beans, rice, cassava, sweet potato (maximum foreign capital ownership 49%) (ISIC 0111, 0112) - Other food crops are wheat, oats, barley, rye, millet, taro, and other food crops not classified elsewhere (maximum foreign capital ownership 95%) (ISIC 0111, 0112). Estate Crops Plantation with an area equal to or more than 25 Hectares until a certain area stipulated in Regulation of Minister of Agriculture Number 26 of 2007, is subject to a maximum foreign capital ownership 95% and a special permit from the Minister of Agriculture : a. Without an integrated processing unit > Jatropha Curcas Plantation, Sugar cane and other sweetening plants, Tobacco plantation, Rubber and other latex producing plantation, raw material Textile Crop plantation, Cotton Plantation, Medicinal/pharmaceutical Crop plantation, Essential oil Crop Plantation, Other Crop plantations that are not classified in other locations (ISIC 0111, 0112) > Coconut plantation, Palm plantation, Crop Plantation for Beverage material (Tea, Coffee, and Cacao), Cashew plantation, Peppercorn plantation, Clove plantation, Other spices Crop plantations (ISIC 0113) b. With an integrated processing unit with an input capacity equal to or more than a certain capacity as stipulated in Regulation of Minister of Agriculture Number 26 of 2007 > Clove plantation and dry flower clove industry (ISIC 0113 & 0140), > Cotton plantation and cotton fiber and seed industry (ISIC 0111 & 1514, 1711), > Cashew plantation and cashew seed industry and Cashew Nut Shell Liquid (CNSL) (ISIC 0113 & 1531), > Peppercorn plantation and dry white peppercorn and dry black peppercorn industry (ISIC 0112 & 1531, 1549), > Jatropha Plantation and Jatropha Curcas Oil Industry (ISIC 0111 & 2429), > Sugar cane plantation, sugar industry, sugar cane, and sugar cane residue (ISIC 0111 & 1542), > Tobacco plantation and dry tobacco leaves industry (ISIC 0111 & 1600), > Coconut Plantation and coconut oil industry (ISIC 0113 & 1514), >Coconut Plantation and Copra, Fiber, Coconut Charcoal, Dust, Nata de coco industry (ISIC 0113, 1514 & 1549), > Palm Plantation and palm oil industry (CPO) (ISIC 0113 & 1514), > Cacao Plantation and cleaning, peeling and drying industry (ISIC 0113 & 0140, 1543), > Tea plantation and black/green tea industry (ISIC 011381549), > Essential oil Crop Plantation and Essential Oil industry (ISIC 0111, 0112, 0113 & 2429), > Coffee Plantation and Coffee sorting, cleaning and peeling industry (ISIC 0113 & 0140, 1549), > Rubber plantation and sheet, thick latex industry and crumb rubber industry (ISIC 0111 & 2519), > Seed plantation other than Coffee and Cacao and Seeds other than Coffee and Cacao cleaning and peeling industry (ISIC 0111, 0112, 0113 & 0140, 1531) Estate crops plantation with an area more than a certain area related as stipulated in the Regulation of Minister of Agriculture Number 26 of 2007, is required to have an integrated processing unit with an input capacity equal to or more than a certain capacity as stipulated in Regulation of Minister of Agriculture Number 26 of 2007, and is subject to maximum foreign capital ownership 95% and a special permit from the Minister of Agriculture: Clove plantation and dry flower clove industry (ISIC 0113 & 0140), Cotton plantation and cotton fiber and seed industry (ISIC 0111 & 1514, 1711), Cashew plantation and cashew seed industry and Cashew Nut Shell Liquid (CNSL) (ISIC 0113 & 1531), Peppercorn plantation and dry white peppercorn and dry black peppercorn industry (ISIC 0112 & 1531, 1549), Jatropha Plantation and Jatropha Curcas Oil Industry (ISIC 0111 & 2429), Sugar cane plantation, sugar industry, sugar cane, and sugar cane residue (ISIC 0111 & ▇▇▇▇), ▇▇▇▇▇▇▇ plantation and dry tobacco leaves industry (ISIC 0111 & 1600), Coconut Plantation and coconut oil industry (ISIC 0113 & 1514), Coconut Plantation and Copra, Fiber, Coconut Charcoal, Dust, Nata de coco industry (ISIC 0113, 1514 & 1549), Palm Plantation and palm oil industry (CPO) (ISIC 0113 & 1514), Cacao Plantation and cleaning, peeling and drying industry (ISIC 0113 & 0140, 1543), Tea plantation and black/green tea industry (ISIC 011381549), Essential oil Crop Plantation and Essential Oil industry (ISIC 0111, 0112, 0113 & 2429), Coffee Plantation and Coffee sorting, cleaning and peeling industry (ISIC 0113 & 0140, 1549), Rubber plantation and sheet, thick latex industry and crumb rubber industry (ISIC 0111 & 2519), > Seed plantation other than Coffee and Cacao and Seeds other than Coffee and Cacao cleaning and peeling industry (ISIC 0111, 0112, 0113 & 0140, 1531) Breeding and propagation of the following for an area of 25 hectares or over, until a certain area according to Regulation of Minister of Agriculture Number 26 of 2007 with maximum foreign capital ownership 95%, with a special permit from the Minister of Agriculture: > Jatropha curcas plantation, Sugar cane and other sweetening plant plantation, Tobacco plantation, raw material Textile Crop plantation, cotton plantation, Rubber and other latex producing plantation, Other crop plantations that are not classified in other locations, Medicinal/pharmaceutical crop plantation, Essential oil Crop Plantation (ISIC 0111, 0112) > Cashew plantation, Coconut plantation, Palm plantation, Crop Plantation for Beverage material, Peppercorn plantation, Clove plantation, Other spices crop plantation (ISIC 0113) Product processing plantation industry (harvesting and activities relating to harvesting) with an input capacity equal to or exceeding a certain limit as stated in the Regulation of the Minister of Agriculture Number 26 of 2007, with maximum foreign capital ownership 95%, with a special permit from the Minister of Agriculture: - Dry Clove Flower Industry (ISIC 0140)