number of remaining annual installments, rounded down to the nearest whole Stock Unit, except that the last installment shall be equal to the number of remaining Stock Units, with any fractional share paid in cash.
(iv) Vesting After Separation from Service. An award of nonqualified deferred compensation may provide that some or all of the award may vest after the Participant Separates from Service. Typically, this occurs when a Participant retires under certain conditions specified in the award. Regardless of what payout elections were made under paragraphs, (i), (ii), or (iii), payment of that portion of an award that vests after the Participants Separation from Service will be made on the later of (A) the date that portion of the award vests (subject to the last sentence of Section 5.1(a)) or (B) six months after the Participants Separation from Service, or as soon thereafter as is administratively practicable.
(b) Death, Disability, or Change of Control. If there is a Change of Control or the Participant dies or becomes Disabled before receiving all vested Stock Units, the remaining vested Stock Units, as well as any additional Stock Units that vest because of the death, Disability, or Change of Control, shall be paid as specified in section 5.2(d), 5.3, or 5.4, rather than as originally scheduled.
(c) Small Accounts. If the Fair Market Value of a Participants Account six months after he Separates from Service is no greater than the then-applicable dollar amount under Section 402(g)(1)(B) of the Code and the Participants Account is fully vested as of such date, he shall receive a lump sum payment of the vested Account balance six months after the Separation from Service or as soon thereafter as is administratively practicable.
(d) Disability. Each award of Compensation will specify whether the Participants Disability will trigger a payout and when such payout(s) shall occur.
(e) Deemed Dividends. Deemed Dividends will be settled in cash and paid at the same time the related Stock Unit is paid in accordance with section 5.2.
5.3. Distributions After Participants Death.
This section applies once a Participant dies.
(a) Immediate Payment. When a Participant dies, his remaining vested Account balance shall be paid to each Beneficiary in one lump sum four months after the Participants death, which should give each Beneficiary adequate time to decide whether to disclaim. However, no payment may be made before the Committees designee has been furnished with proof of death and such other information as it may reasonably require, including information needed for tax reporting purposes. Such distribution shall be paid in whole shares of Stock, with any fractional shares paid in cash.
(b) Designating Beneficiaries. Each Participant shall designate one or more persons, trusts, or other entities as his Beneficiary to receive any amounts distributable hereunder after the Participants death, by furnishing the Committee with a beneficiary designation form. In the absence of an effective beneficiary designation as to part or all of a Participants interest in the Plan, such amount will be distributed, to the Participants surviving Spouse, if any, otherwise to the Participants estate. Unless the Participants beneficiary designation form specifies otherwise, if a Beneficiary dies after the Participant but before being paid by the Plan, the Plan shall pay the Beneficiarys estate.
(c) Changing Beneficiaries. A beneficiary designation may be changed by the Participant at any time and without the consent of any previously designated Beneficiary. However, if the Participant is