Common use of Distribution of Common Stock Clause in Contracts

Distribution of Common Stock. Subject to the terms of Sections 8 and 24, and except as otherwise provided in this Section 4, the Company shall distribute to the Participant (or his or her heirs in the event of the Participant’s death) at the time of vesting of the Restricted Stock Units (as provided in Section 2 or Section 7 hereof), a number of shares of Common Stock equal to the number of Restricted Stock Units then held by the Participant that became vested at such time. Shares of Common Stock or any other benefit subject to the Restricted Stock Units shall, upon vesting of the Restricted Stock Units pursuant to Section 2 or Section 7 (and except as otherwise provided in Section 2 and Section 4 herein in the event of Retirement Eligibility), be issued and distributed to the Participant (or his or her beneficiary) no later than the later of (a) the 15th day of the third month following the Participant’s first taxable year in which the amount is no longer subject to a substantial risk of forfeiture, or (b) the 15th day of the third month following the end of the Company’s first taxable year in which the amount is no longer subject to a substantial risk of forfeiture, or otherwise in accordance with Code Section 409A. Shares subject to the Restricted Stock Units which become vested upon the Participant’s becoming Retirement Eligible shall be distributed upon the first to occur of (i) each Vesting Date(s) as specified in Section 2 herein, (ii) the date of the Participant’s Termination of Employment (that is, the date of the Participant’s separation from service, as defined under Code Section 409A) after becoming Retirement Eligible, (iii) the date of the Participant’s death, (iv) the date of the Participant’s Disability (as defined under Code Section 409A), or (v) the date of the Participant’s Termination of Employment by the Company not for Cause or by the Participant for Good Reason within two years after the effective date of a Change in Control (as defined under Code Section 409A). Shares to be distributed as provided in the preceding sentence (following vesting due to Retirement Eligibility) shall be distributed within 90 days of the first to occur of the dates described in (i) through (v) of the preceding sentence (provided that in no event shall the Participant have the right to designate the taxable year in which such distribution shall occur).

Distribution of Common Stock. Subject to the terms of Sections 8 and 2425, and except as otherwise provided in this Section 43, the Company Corporation shall distribute to the Participant Employee (or his or her heirs in the event of the ParticipantEmployee’s death) at the time of vesting of the Restricted Stock Units (as provided in Section Sections 2 or Section 7 hereof), a number of shares of Common Stock equal to the number of Restricted Stock Units then held by the Participant Employee that became vested at such time. Shares of Common Stock or any other benefit subject to the Restricted Stock Units shall, upon vesting of the Restricted Stock Units pursuant to Section 2 or Section 7 (and except as otherwise provided in Section Sections 2 and Section 4 3 herein in the event of Retirement Eligibility), be issued and distributed to the Participant Employee (or his or her beneficiary) no later than the later of (a) the 15th day of the third month following the ParticipantEmployee’s first taxable year in which the amount is no longer subject to a substantial risk of forfeiture, or (b) the 15th day of the third month following the end of the CompanyCorporation’s first taxable year in which the amount is no longer subject to a substantial risk of forfeiture, or otherwise in accordance with Code Section 409A. Shares subject to the Restricted Stock Units which become vested upon the ParticipantEmployee’s becoming Retirement Eligible shall be distributed upon the first to occur of (i) each Vesting Date(s) as specified in Section 2 herein, (ii) the date of the ParticipantEmployee’s Termination of Employment (that is, the date of the ParticipantEmployee’s separation from service, as defined under Code Section 409A) after becoming Retirement Eligible, (iii) the date of the ParticipantEmployee’s death, (iv) the date of the ParticipantEmployee’s Disability (as defined under Code Section 409A), ) or (v) the date of the ParticipantEmployee’s Termination of Employment by the Company Corporation not for Cause or by the Participant Employee for Good Reason within two years after the effective date of a Change in Control (as defined under Code Section 409A). Shares to be distributed as provided in the preceding sentence (following vesting due to Retirement Eligibility) shall be distributed within 90 days of the first to occur of the dates described in (i) through (v) of the preceding sentence (provided that in no event shall the Participant have the right to designate the taxable year in which such distribution shall occur).