Common use of Payment of the Account Clause in Contracts

Payment of the Account. The Company shall make a payment to the Participant in Shares as provided in Section 5 with respect to the number of Deferred Stock Units then credited to the Participant’s Account on the date of the Director’s cessation of services as a director, or if earlier, the Director’s death, disability (as defined in Section 409A of the Code (“Section 409A”)), or upon a Change in Control (as defined in Appendix A) provided that such Change in Control is a permissible distribution event under Section 409A(a)(2)(A)(v) (the “Payment Date”).

Appears in 3 contracts

Samples: Red Hat Inc, Red Hat Inc, Red Hat Inc

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Payment of the Account. The Company shall make a payment to the Participant in Shares as provided in Section 5 6 with respect to the number of vested Deferred Stock Units then credited to the Participant’s Account on the date of the Director’s cessation of services as a director, or if earlier, the Director’s death, disability (as defined in Section 409A of the Code (“Section 409A”)), or upon a Change in Control (as defined in Appendix A) provided that such Change in Control is a permissible distribution event under Section 409A(a)(2)(A)(v) (the “Payment Date”).

Appears in 2 contracts

Samples: Red Hat Inc, Red Hat Inc

Payment of the Account. The Company shall make a payment to the Participant in cash or in Shares as provided in Section 5 6 with respect to the number of vested Deferred Stock Units then credited to the Participant’s Account on the date previously elected by the Director in accordance with Section 409A of the Director’s cessation of services as a directorCode, or if earlier, the Director’s death, disability (as defined in Section 409A of the Code (“Section 409A”Code)), cessation of service as a director, or upon a Change in Control (as defined in Appendix A) provided that such Change in Control is a permissible distribution event under Section 409A(a)(2)(A)(v) (the “Payment Date”).

Appears in 1 contract

Samples: Stock Unit Agreement (Red Hat Inc)

Payment of the Account. The Company shall make a payment to the Participant in Shares as provided in Section 5 6 with respect to the number of vested Deferred Stock Units then credited to the Participant’s Account on the date of previously elected by the Director’s cessation of services as a director, or if earlier, the Director’s death, disability (as defined in Section 409A of the Code (“Section 409A”)), cessation of service as a director, or upon a Change in Control (as defined in Appendix A) provided that such Change in Control is a permissible distribution event under Section 409A(a)(2)(A)(v) (the “Payment Date”).

Appears in 1 contract

Samples: Stock Unit Agreement (Red Hat Inc)

Payment of the Account. The Company shall make a payment to the Participant in Shares as provided in Section 5 6 with respect to the number of vested Deferred Stock Units then credited to the Participant’s Account on the date of the Director’s cessation of services as a director, or if earlier, the Director’s death, disability becoming disabled (as defined in Section 409A of the Code (“Section 409A”)), or upon a Change in Control (as defined in Appendix Athe Plan) provided that such Change in Control is a permissible distribution event under Section 409A(a)(2)(A)(v) (the “Payment Date”).

Appears in 1 contract

Samples: Red Hat Inc

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Payment of the Account. The Company shall make a payment to the Participant in cash or in Shares as provided in Section 5 with respect to the number of vested Deferred Stock Units then credited to the Participant’s Account on the date previously elected by the Director in accordance with Section 409A of the Director’s cessation of services as a directorCode, or if earlier, the Director’s death, disability (as defined in Section 409A of the Code (“Section 409A”Code)), termination of service as a director, or upon a Change in Control (as defined in Appendix A) provided that such Change in Control is a permissible distribution event under Section 409A(a)(2)(A)(v) (the “Payment Date”).

Appears in 1 contract

Samples: Stock Unit Agreement (Red Hat Inc)

Payment of the Account. The Company shall make a payment to the Participant in Shares as provided in Section 5 with respect to the number of vested Deferred Stock Units then credited to the Participant’s Account on the date of previously elected by the Director’s cessation of services as a director, or if earlier, the Director’s death, disability becoming disabled (as defined in Section 409A of the Code (“Section 409A”)), cessation of service as a director, or upon a Change in Control (as defined in Appendix Athe Plan) provided that such Change in Control is a permissible distribution event under Section 409A(a)(2)(A)(v) (the “Payment Date”).

Appears in 1 contract

Samples: Red Hat Inc

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