Common use of Change in Distribution Clause in Contracts

Change in Distribution. The Participant may elect to change the timing of distribution set forth in this Section 4 to a later date, in accordance with Code Section 409A and such rules and procedures as the Company may prescribe, subject to the following: (i) Such election may not take effect until at least 12 months after the date it is filed with the Company; (ii) Such election must be made not later than 12 months prior to the first scheduled payment date; and (iii) To the extent required under Code Section 409A, the revised payment date must be not sooner than the five-year anniversary of the previously-scheduled payment date.

Change in Distribution. The Participant may elect to change the timing of distribution set forth in this Section 4 to a later date, in accordance with Code Section 409A and such rules and procedures as the Company may prescribe, subject to the following: (i) : Such election may not take effect until at least 12 months after the date it is filed with the Company; (ii) ; Such election must be made not later than 12 months prior to the first scheduled payment date; and (iii) and To the extent required under Code Section 409A, the revised payment date must be not sooner than the five-year anniversary of the previously-scheduled payment date.