Common use of UNREGISTERED EMPLOYEES Clause in Contracts

UNREGISTERED EMPLOYEES. Insurance Agency shall ensure that its Unregistered Employees shall not: (a) engage in any securities activities; or (b) receive any compensation based on transactions in securities or the provision of securities advice. Insurance Agency shall further ensure that its Unregistered Employees will not recommend any security, give investment advice with respect to securities, discuss the merits of any security or type of security, or handle any question that might require familiarity with the securities industry. Insurance Agency shall require all Unregistered Employees to refer all Variable Products-related questions to Dual Representatives. Insurance Agency shall further ensure that Unregistered Employees will not handle or maintain customer funds in connection with securities transactions other than providing clerical or ministerial assistance. These obligations concerning Unregistered Employees are included in Broker/Dealer's conduct manual for Unregistered Employees, which will be provided to Unregistered Employees of Insurance Agency, as stated in Sections 3.3 and 4.5, and is attached hereto as Exhibit A.