Common use of Release Payment Clause in Contracts

Release Payment. The payments and benefits provided for in Section 5(b)(ii) through (iv) or Section 5(c) shall be conditioned on (a) the Executive’s continued compliance with the obligations of the Executive under Sections 8 and 9 and (b) the Executive or, in the event of the Executive’s death, the Executive’s estate, executing and delivering to the Company a full release of all claims that the Executive, the Executive’s heirs and assigns may have against the Company, its affiliates and subsidiaries and each of their respective directors, officers, employees and agents, in a form reasonably acceptable to the Company and the Executive (the “Release”). The Release must become enforceable and irrevocable on or before the sixtieth (60th) day following the Termination Date. If the Executive (or the Executive estate) fails to execute without revocation the Release, the Executive shall be entitled to the Accrued Obligations only and no other benefits. The installments of severance provided under Section 5(b)(iv) shall commence in the calendar month following the month in which the Release becomes enforceable and irrevocable. If, however, the sixty (60) day period in which the Release must become enforceable and irrevocable begins in one year and ends in the following year, the Company shall commence payment of the severance installments in the second year in the later of January and the first calendar month following the month in which the Release becomes effective and irrevocable. The first installment shall include, however, all amounts that would otherwise have been paid to the Executive between the Termination Date and the Executive’s receipt of the first installment, assuming the first installment would otherwise have been paid in the month following the month in which the Termination Date occurs. The Pro-Rata Bonus payable in Section 5 shall be paid in accordance with the Company’s applicable Bonus Program.

Release Payment. The Except for the Accrued Obligations provided for in Section 5(a), any other payments and benefits provided for in Section 5(b)(ii) through (iv) or Section 5(c) 5 shall be conditioned on (a) the Executive’s continued compliance with the obligations of the Executive under Sections 8 and 9 and (b) the Executive or, in the event of the Executive’s his death, the Executive’s his estate, executing and delivering to the Company a full release of all claims that the Executive, the Executive’s his heirs and assigns may have against the Company, its affiliates and subsidiaries and each of their respective directors, officers, employees and agents, in a form reasonably acceptable to the Company Company, which shall include an 502244059v.4 affirmation by Executive that Executive shall fully comply with Sections 8 and the Executive 9 of this Agreement (the “Release”). The Release must become enforceable and irrevocable on or before the sixtieth (60th) day following the Termination Date. If the Executive (or the Executive his estate) fails to execute without revocation the Release, the Executive he shall be entitled to the Accrued Obligations only and no other benefits. The installments of severance provided under Section 5(b)(ivSections 5(b)(iii) and 5(c)(iii) shall commence in the calendar month following the month in which the Release becomes enforceable and irrevocable. If, however, the sixty (60) -day period in which the Release must become enforceable and irrevocable begins in one year and ends in the following year, the Company shall commence payment of the severance installments in the second year in the later of January and the first calendar month following the month in which the Release becomes effective and irrevocable. The first installment shall include, however, all amounts that would otherwise have been paid to the Executive between the Termination Date and the Executive’s receipt of the first installment, assuming the first installment would otherwise have been paid in the month following the month in which the Termination Date occurs. The Any Pro-Rata Bonus payable in Section 5 shall be paid in accordance with on the Company’s later of the date it is to be paid under the applicable Bonus ProgramProgram and the date that the severance payments commence to be paid under this Section 6.

Release Payment. The Except for the Accrued Obligations provided for in Section 5(a), any other payments and benefits provided for in Section 5(b)(ii) through (iv) or Section 5(c) 5 shall be conditioned on (a) the Executive’s continued compliance with the obligations of the Executive under Sections 8 and 9 and (b) the Executive or, in the event of the Executive’s his death, the Executive’s his estate, executing and delivering to the Company a full release of all claims that the Executive, the Executive’s his heirs and assigns may have against the Company, its affiliates and subsidiaries and each of their respective directors, officers, employees and agents, in a form reasonably acceptable to the Company Company, which shall include an affirmation by Executive that Executive shall fully comply with Sections 8 and the Executive 9 of this Agreement (the “Release”). The Release must become enforceable and irrevocable on or before the sixtieth (60th) day following the Termination Date. If the Executive (or the Executive his estate) fails to execute without revocation the Release, the Executive he shall be entitled to the Accrued Obligations only and no other benefits. The installments of severance provided under Section 5(b)(ivSections 5(b)(iii) and 5(c)(iii) shall commence in the calendar month following the month in which the Release becomes enforceable and irrevocable. If, however, the sixty (60) day period in which the Release must become enforceable and irrevocable begins in one year and ends in the following year, the Company shall commence payment of the severance installments in the second year in the later of January and the first calendar month following the month in which the Release becomes effective and irrevocable. The first installment shall include, however, all amounts that would otherwise have been paid to the Executive between the Termination Date and the Executive’s receipt of the first installment, assuming the first installment would otherwise have been paid in the month following the month in which the Termination Date occurs. The Propro-Rata rata Bonus payable in Section 5 shall be paid in accordance with the Company’s applicable Bonus Programprogram.

Release Payment. The Except for the Accrued Obligations provided for in Section 5(a), any other payments and benefits provided for in Section 5(b)(ii) through (iv) or Section 5(c) 5 shall be conditioned on (a) the Executive’s continued compliance with the obligations of the Executive under Sections 8 and 9 and (b) the Executive or, in the event of the Executive’s his death, the Executive’s his estate, executing and delivering to the Company a full release of all claims that the Executive, the Executive’s his heirs and assigns may have against the Company, its affiliates and subsidiaries and each of their respective directors, officers, employees and agents, in a form reasonably acceptable to the Company Company, which shall include an affirmation by Executive that Executive shall fully comply with Sections 8 and the Executive 9 of this Agreement (the “Release”). The Release must become enforceable and irrevocable on or before the sixtieth (60th) day following the Termination Date. If the Executive (or the Executive his estate) fails to execute without revocation the Release, the Executive he shall be entitled to the Accrued Obligations only and no other benefits. The installments of severance provided under Section 5(b)(ivSections 5(b)(iii) and 5(c)(iii) shall commence in the calendar month following the month in which the Release becomes enforceable and irrevocable. If, however, the sixty (60) day period in which the Release must become enforceable and irrevocable begins in one year and ends in the following year, the Company shall commence payment of the severance installments in the second year in the later of January and the first calendar month following the month in which the Release becomes effective and irrevocable. The first installment shall include, however, all amounts that would otherwise have been paid to the Executive between the Termination Date and the Executive’s receipt of the first installment, assuming the first installment would otherwise have been paid in the month following the month in which the Termination Date occurs. The Pro-Rata Bonus payable in Section 5 shall be paid in accordance with on the Company’s later of the date it is to be paid under the applicable Bonus Program.Program and the date that the severance payments commence to be paid under this Section 6. 

Release Payment. The Except for the Accrued Obligations provided for in Section 5(a), any other payments and benefits provided for in Section 5(b)(ii) through (iv) or Section 5(c) 5 shall be conditioned on (a) the Executive’s continued compliance with the obligations of the Executive under Sections 8 and 9 and (b) the Executive or, in the event of the Executive’s her death, the Executive’s her estate, executing and delivering to the Company a full release of all claims that the Executive, the Executive’s her heirs and assigns may have against the Company, its affiliates and subsidiaries and each of their respective directors, officers, employees and agents, in a form reasonably acceptable to the Company Company, which shall include an affirmation by Executive that Executive shall fully comply with Sections 8 and the Executive 9 of this Agreement (the “Release”). The Release must become enforceable and irrevocable on or before the sixtieth (60th) day following the Termination Date. If the Executive (or the Executive her estate) fails to execute without revocation the Release, the Executive she shall be entitled to the Accrued Obligations only and no other benefits. The installments of severance provided under Section 5(b)(ivSections 5(b)(iii) and 5(c)(iii) shall commence in the calendar month following the month in which the Release becomes enforceable and irrevocable. If, however, the sixty (60) -day period in which the Release must become enforceable and irrevocable begins in one year and ends in the following year, the Company shall commence payment of the severance installments in the second year in the later of January and the first calendar month following the month in which the Release becomes effective and irrevocable. The first installment shall include, however, all amounts that would otherwise have been paid to the Executive between the Termination Date and the Executive’s receipt of the first installment, assuming the first installment would otherwise have been paid in the month following the month in which the Termination Date occurs. The Any Pro-Rata Bonus payable in Section 5 shall be paid in accordance with on the Company’s later of the date it is to be paid under the applicable Bonus Program.Program and the date that the severance payments commence to be paid under this Section 6. 79830963v.5

Release Payment. The Except for the Accrued Obligations provided for in Section 5(a), any other payments and benefits provided for in Section 5(b)(ii) through (iv) or Section 5(c) 5 shall be conditioned on (a) the Executive’s continued compliance with the obligations of the Executive under Sections 8 and 9 and (b) the Executive or, in the event of the Executive’s his death, the Executive’s his estate, executing and delivering to the Company a full release of all claims that the Executive, the Executive’s his heirs and assigns may have against the Company, its affiliates and subsidiaries and each of their respective directors, officers, employees and agents, in a form reasonably acceptable to the Company Company, which shall include an affirmation by Executive that Executive shall fully comply with Sections 8 and the Executive 9 of this Agreement (the “Release”). The Release must become enforceable and irrevocable on or before the sixtieth (60th) day following the Termination Date. If the Executive (or the Executive his estate) fails to execute without revocation the Release, the Executive he shall be entitled to the Accrued Obligations only and no other benefits. The installments of severance provided under Section 5(b)(ivSections 5(b)(iii) and 5(c)(iii) shall commence in the calendar month following the month in which the Release becomes enforceable and irrevocable. If, however, the sixty (60) -day period in which the Release must become enforceable and irrevocable begins in one year and ends in the following year, the Company shall commence payment of the severance installments in the second year in the later of January and the first calendar month following the month in which the Release becomes effective and irrevocable. The first installment shall include, however, all amounts that would otherwise have been paid to the Executive between the Termination Date and the Executive’s receipt of the first installment, assuming the first installment would otherwise have been paid in the month following the month in which the Termination Date occurs. The Any Pro-Rata Bonus payable in Section 5 shall be paid in accordance with on the Company’s later of the date it is to be paid under the applicable Bonus ProgramProgram and the date that the severance payments commence to be paid under this Section 6.

Release Payment. The payments and benefits provided for in Section 5(b)(ii) through (iv) or Section 5(c) Payment of the Severance shall be conditioned on (a) the Executive’s continued compliance with the obligations of the Executive under Sections 8 and 9 and of this Agreement, (b) the Executive orExecutive’s return of all Company and NHC property, in data and documents to the event Company as of the Executive’s deathTermination Date, and (c) the Executive’s estate, Executive executing and delivering to the Company a separation agreement containing a full release of all claims that the Executive, the Executive’s heirs and assigns Executive may have against the Company, its parents, subsidiaries and affiliates and subsidiaries each of their respective directors, officers, employees and agents (collectively, the “Company Released Parties”) and a full release of all claims that the Company Released Parties may have against the Executive, his family members and affiliates and each of their respective directors, officers, employees and agents, in a form reasonably acceptable to the Company and the Executive (the “Release”). The Release must become enforceable and irrevocable on or before the sixtieth (60th) day following the Termination Date. If the Executive (or the Executive estate) fails to execute without revocation the Release, the Executive he shall be entitled to the Accrued Obligations only and no other benefitsbenefits under Section 5(b). The installments of severance continued salary provided under Section 5(b)(iv5(b)(ii) shall be paid in accordance with the Company’s normal payroll practices and shall commence in on the calendar month following next payroll date falling after the month in which date the Release becomes enforceable and irrevocable. If, however, the sixty (60) day period in which the Release must become enforceable and irrevocable begins in one taxable year of the Executive and ends in the following year, the Company shall commence payment of the severance installments continued salary in the second year in on the first payroll date falling on the later of (i) January 1, and (ii) the first calendar month following the month in date on which the Release becomes effective and irrevocable. The first installment payroll shall include, however, all amounts that would otherwise have been paid to the Executive between the Termination Date and the Executive’s receipt of the first installment, assuming the first installment would otherwise have been paid in the month following the month in which the Termination Date occurs. The Pro-Rata Bonus payable in Section 5 shall be paid in accordance with the Company’s applicable Bonus Program.