Common use of Release Prior to Payment of Benefits Clause in Contracts

Release Prior to Payment of Benefits. Prior to the payment of any of the Separation Benefits, Executive shall execute, and allow to become effective, the Release within the time frame set forth therein, but not later than sixty (60) days following Executive’s Separation from Service (the “Release Effective Date”). Such Release shall specifically relate to all of Executive’s rights and claims in existence at the time of such execution and shall confirm Executive’s continuing obligations to the Company (including but not limited to obligations under any confidentiality and/or non-solicitation agreement with the Company). No Separation Benefits will be paid prior to the Release Effective Date. Within five (5) days following the Release Effective Date, the Company will pay Executive the Separation Benefits Executive would otherwise have received on or prior to such date but for the delay in payment related to the effectiveness of the Release, with the balance of the benefits being paid as originally scheduled. Unless a Separation from Service has occurred, the Board, in its sole discretion, may modify the form of the required Release to comply with applicable law and shall determine the form of the

Release Prior to Payment of Benefits. Prior to the payment or provision of any of the Change in Control Separation Benefits, Executive shall execute, and allow to become effective, the Release within the time frame set forth therein, but not later than sixty (60) days following Executive’s Separation from Service (the “Release Effective Date”)Service. Such Release shall specifically relate to all of Executive’s rights and claims in existence at the time of such execution and shall confirm Executive’s continuing obligations to the Company (including but not limited to obligations under any confidentiality and/or non-solicitation agreement with the Company). No Change in Control Separation Benefits will be paid prior to the Release Effective Date. Within five If the Company (5or, if applicable, the successor entity thereto) days determines that any of the Change in Control Separation Benefits constitute “deferred compensation” under Section 409A (defined below), then, solely to the extent necessary to avoid the incurrence of the adverse personal tax consequences under Section 409A, no Change in Control Separation Benefits will be paid prior to the sixtieth (60th) day following Executive’s Separation from Service. On the sixtieth (60th) day following the Release Effective Datedate of Separation from Service, the Company will pay to Executive in a lump sum the applicable Change in Control Separation Benefits Executive that Employee would otherwise have received on or prior to such date but for the delay in payment related to the effectiveness of the Releasedate, with the balance of the benefits Change in Control Separation Benefits being paid as originally scheduled. Unless a Separation from Service has occurred, the Board, in its sole discretion, may modify the form of the required Release to comply with applicable law and shall determine the form of the.