Common use of Payout Date Clause in Contracts

Payout Date. (a) The amounts paid under this Agreement shall be paid on the Vesting Date, based on the Share Price at Vesting. (b) If the Executive dies before July 1, 2011, the Target Amount shall be paid immediately to the Executive’s estate. (c) If after the occurrence of a Section 409A-Conforming Change in Control, the Executive has a Termination for Good Reason or an involuntary termination of employment (other than a termination for Cause according to a determination made before such Change in Control), vesting shall be accelerated and payout shall be as provided under this Agreement.

Payout Date. (a) The amounts paid under this Agreement shall be paid on the Vesting Date, based on the Share Price at Vesting. (b) If the Executive dies before July January 1, 2011, the Target Amount shall be paid immediately to the Executive’s estate. (c) If after the occurrence of a Section 409A-Conforming Change in Control, the Executive has a Termination for Good Reason or an involuntary termination of employment (other than a termination for Cause according to a determination made before such Change in Control), vesting shall be accelerated and payout shall be as provided under this Agreement.