Common use of Specified Time Clause in Contracts

Specified Time. Notwithstanding any other provision of the Plan, if the death of the Participant, the Disability of the Participant, the termination of employment of the Participant, or the Separation From Service of the Participant, as applicable, does not occur before January 1, 2017, then any Section 409A Amounts (including shares) deemed credited to the Participant’s Accounts in the Deferred Compensation Ledger determined under Section 6.9 shall be distributed to the Participant on January 1, 2017. Notwithstanding the foregoing, to the extent that units representing NOV Shares were deemed credited to the Participant’s Account in connection with the Grant Merger, the Committee may cause NOV Shares to be distributed to him.

Specified Time. Notwithstanding any other provision of the Plan, if the death of the Participant, the Disability of the Participant, the termination of employment of the Participant, or the Separation From Service of the Participant, as applicable, does not occur before January 1, 2017, then any Section 409A Amounts the amounts (including shares) then deemed credited to the Participant’s Accounts in the Deferred Compensation Ledger determined under Section 6.9 6.8 shall be distributed to the Participant on January 1, 20172017 in Common Shares. Notwithstanding the foregoing, to the extent that units representing NOV Shares were deemed credited to the Participant’s Account in connection with the Grant Merger, the Committee may cause NOV Shares to be the distributed to him.