Payment upon Change in Control Event Clause Samples

Payment upon Change in Control Event. Notwithstanding any provision or election to the contrary, in the event of a Change in Control Event, all amounts credited to each Participant’s Account shall be paid to the Participant in a lump sum within ninety (90) days after the Change in Control Event. Subject to the requirements of Code Section 409A, in the event that a Participant is an employee of an Affiliate, other than the Plan Sponsor, and the Affiliate has a Change of Control Event, all amounts credited to such Participant’s Account shall be paid to the Participant in a lump sum within ninety (90) days after the Change in Control Event. Notwithstanding the preceding sentence, such distribution shall only occur if neither the Plan Sponsor nor an entity that is an Affiliate after such transaction employs the Participant after such transaction. For this purpose, an Affiliate shall be deemed to have a Change of Control Event with respect to any event that would be a Change of Control Event within the meaning of Section 1.9(a) or (c), if the term “Plan Sponsor” were replaced with the term “Affiliate” each time it is used therein.