I guess Trolltech can make any license it wants but the one I have is to a single developer, me, not to my employer, or to a shared machine.

The license has my name on it, even though my employer paid for it. I will retire in about two months and the terms are that my employer writes to Trolltech to get a different employee's name put on the license. After the change ONLY that employee can use the commercial Qt installation to generate binaries. It is also not legal for other employees to use the GPL version to work on the app and then have the licensed employee make the binary using the commercial version.