Common use of Accelerated Distributions Clause in Contracts

Accelerated Distributions. The Committee may, at its sole discretion, allow for the early payment of a Participant’s deferred Plan Share Award account in the event of an “unforeseeable emergency” or in the event of the death or Disability of the Recipient. An “unforeseeable emergency” means an unanticipated emergency caused by an event beyond the control of the Recipient that would result in severe financial hardship if the distribution were not permitted. Such distributions shall be limited to the amount necessary to sufficiently address the financial hardship. Any distributions under this provision shall be consistent with the Code and the regulations promulgated thereunder.