Later Distribution Dates Clause Samples

Later Distribution Dates. Executive may elect, with respect to any type of Distribution Event, to have payment of the Deferred Incentive Benefit delayed until a later Distribution Date for that event, which may be the first day of either (i) any month elected in a future year before the year 2013, or (ii) the month following an elected number of months (not greater than 120), in either case after the applicable Distribution Date specified in Section 7, but not later than the first day of the month following Executive’s 65th birthday.