Common use of Permitted Distribution Events Clause in Contracts

Permitted Distribution Events. Shares (or, where applicable, cash payments) under this Agreement shall not be distributed earlier than the occurrence of one of the following: i) separation from service, ii) the date the Participant becomes Disabled, iii) the death of the Participant, or iv) a time specified in this Agreement as of the date of this Agreement. Payments under this Agreement shall not be accelerated, except as may be allowed by the Internal Revenue Service under Code Section 409A or if Section 409A is inapplicable.

Permitted Distribution Events. Shares (or, where applicable, cash payments) under this Agreement shall not be distributed earlier than the occurrence of one of the following: i) separation from service, ii) the date the Participant becomes Disabled, iii) the death of the Participant, or iv) a time specified in this Agreement agreement as of the date of this Agreement. Payments under this Agreement shall not be accelerated, except as may be allowed by the Internal Revenue Service under Code Section 409A 409A. or if Section 409A is inapplicable.