Common use of Timing of Payout Clause in Contracts

Timing of Payout. Payout of all vested Performance Shares shall occur as soon as administratively feasible following the end of the Secondary Performance Period, but in no event later than seventy-five (75) days after such vesting date, provided that, if such seventy-five (75) day period begins in one calendar year and ends in another, the Participant may not choose in which calendar year payment will be made.

Timing of Payout. Payout of all vested Performance Shares shall occur as soon as administratively feasible following the end of the Secondary Performance Period, but in no event later than seventy-five four (7574) days after such vesting date, provided that, if such seventy-five four (7574) day period begins in one calendar year and ends in another, the Participant may not choose in which calendar year payment will be made.