Common use of Change in Form or Timing of Distributions Clause in Contracts

Change in Form or Timing of Distributions. This Agreement may be amended by the Employer and the Executive (or after the Executive’s death, the Beneficiary) to change the form of timing of distributions hereunder; provided, however, that all changes in the form or timing of distributions hereunder must comply with the following requirements. The changes: (a) shall not take effect until at least twelve (12) months after the amendment is made, and (b) shall, except for payments described in Section 2.4 or Article 3, delay the distribution for a minimum of five (5) years from the date the distribution was originally scheduled to be made;

Change in Form or Timing of Distributions. This Agreement may be amended by the Employer and the Executive (or after the Executive’s death, the Beneficiary) to change the form of timing of distributions hereunder; provided, however, that all changes in the form or timing of distributions hereunder must comply with the following requirements. The changes: (a) shall not take effect until at least twelve (12) months after the amendment is made, ; and (b) shall, except for payments described in Section 2.4 or Article 3, delay the distribution payments for a minimum of five (5) years from the date the distribution was payments were originally scheduled to be made;.