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

Release Prior to Receipt of Benefits. Prior to the receipt of any benefits under Section 4 of this Agreement, Employee shall execute and allow to become effective, a release of claims agreement in the form attached hereto as Exhibit A (the “Release”) not later than fifty-two (52) days following Employee’s employment termination. In no event will severance benefits under Section 4 of this Agreement be provided to Employee until the Release becomes effective. In the event severance payments are delayed because of the effective date of the Release, the Company will pay Employee the severance payments, that Employee would otherwise have received under Section 4(a) on or prior to the effective date of the Release, on the first regular payroll pay day following the effective date of the release, with the balance of the payments being paid as originally scheduled.