Common use of Multiple Payment Events Clause in Contracts

Multiple Payment Events. If the Plan permits multiple payment events, the change payment election provisions of Section 4.02(B)(1) apply separately as to each payment due upon each payment event. The addition or deletion of a permissible payment event to Deferred Compensation previously deferred is subject to the change election provisions of Section 4.02(B)(1) where the additional event may cause a change in the time or form of payment. However the addition of death, Disability or Unforeseeable Emergency as an “earliest of” payment event is not a change payment election and is not an impermissible acceleration under Section 4.02(C).

Multiple Payment Events. If the Plan permits multiple payment events, the change payment election provisions of Section 4.02(B)(14.03(B)(1) apply separately as to each payment due upon each payment event. The addition or deletion of a permissible payment event to Deferred Compensation previously deferred is subject to the change election provisions of Section 4.02(B)(14.03(B)(1) where the additional event may cause a change in the time or form of payment. However the The addition of death, Disability or Unforeseeable Emergency as an “earliest of” a payment event is not a change payment election and is not an impermissible acceleration under Section 4.02(C4.03(C) provided that the change complies with this Section 4.03(B)(5).