Common use of Timing of Release of Claims Clause in Contracts

Timing of Release of Claims. Whenever in this Agreement the provision of payment or benefit is conditioned on Executive’s execution and non-revocation of a release of claims, such release must be (i) presented by the Company to Executive within 14 days after termination of Executive’s employment and (ii) executed by Executive, and all revocation periods shall have expired, within 60 days after the date of termination of Executive’s employment. If such payment or benefit constitutes non-exempt deferred compensation, and if such 60-day period begins in one calendar year and ends in the next calendar year, the payment or benefit shall not be made or commence before the second such calendar year, even if the release becomes irrevocable in the first such calendar year. In other words, Executive is not permitted to influence the calendar year of payment based on the timing of his signing of the release.”

Timing of Release of Claims. Whenever in this Agreement the provision of a payment or benefit is conditioned on Executive’s execution and non-revocation of a release of claimsRelease, such release Release must be (i) presented by the Company to Executive within 14 days after termination of Executive’s employment and (ii) executed by Executive, and all revocation periods shall have expired, expired within 60 37 days after the date of termination of Executive’s employmenttermination; failing which such payment or benefit shall be forfeited. If such payment or benefit constitutes non-exempt deferred compensationcompensation for purpose of the Section 409A Guidance, and if such 6037-day period begins in one calendar year and ends in the next calendar year, the payment or benefit shall not be made or commence before the second such calendar year, even if the release Release becomes irrevocable in the first such calendar year. In other words, Executive is not permitted to influence the calendar year of payment based on the timing of his signing of the releaseRelease.”

Timing of Release of Claims. Whenever in this Agreement the provision of payment or benefit is conditioned on Executive’s execution and non-revocation of a release of claims, such release release, must be (i) presented by the Company to Executive within 14 days after termination of Executive’s employment and (ii) executed by Executiveexecuted, and all revocation periods shall have expired, within 60 thirty (30) days after the date of termination of Executive’s employment; failing which such payment or benefit shall be forfeited. If such payment or benefit constitutes nonNon-exempt deferred compensationExempt Deferred Compensation, and if such 60-thirty (30) day period begins in one calendar year and ends in the next calendar year, the payment or benefit shall not be made or commence before the second such calendar year, even if the release becomes irrevocable in the first such calendar year. In other words, Executive is not permitted to influence the calendar year of payment based on the timing of his signing of the release.”

Timing of Release of Claims. Whenever in this Agreement the provision of payment or benefit is conditioned on Executive’s Employee's execution and non-revocation of a release of claims, such release release, must be (i) presented by the Company to Executive within 14 days after termination of Executive’s employment and (ii) executed by Executiveexecuted, and all revocation periods shall have expired, within 60 days after the date of termination of Executive’s Employee's employment; failing which such payment or benefit shall be forfeited. If such payment or benefit constitutes nonNon-exempt deferred compensationExempt Deferred Compensation, and if such 60-day period begins in one calendar year and ends in the next calendar year, the payment or benefit shall not be made or commence before the second such calendar year, even if the release becomes irrevocable in the first such calendar year. In other words, Executive Employee is not permitted to influence the calendar year of payment based on the timing of his signing of the release.”