Common use of Timing and Conditions of Payment Clause in Contracts

Timing and Conditions of Payment. 4.3.1. The amounts provided for in Sections 4.1.1 and 4.2.1 shall be paid in a lump sum in cash within thirty (30) days following the Employee’s Termination Date. 4.3.2. The payment of the amounts provided in Sections 4.1.2, 4.1.3, 4.1.4, and 4.2.2 of this Agreement shall be conditioned upon the execution, non-revocation, and delivery of a Release and Separation Agreement in a form similar to the one attached hereto as Exhibit A (the “Release”) by Employee within forty-five (45) days of the date of Employee’s Termination Date. The payments due under Sections 4.1.2, 4.1.3, 4.1.4, and 4.2.2 of this Agreement shall be made to the Employee on the sixtieth (60th) day following the Employee’s Termination Date, provided that the Company has received a properly executed Release by the Employee no later than the forty-fifth (45th) day following the Termination Date. If the Employee fails to properly execute and deliver the Release during the allowed forty-five (45) day period following the Employee’s Termination Date, the Employee agrees that he or she shall not be entitled to receive the benefits described in Sections 4.1.2, 4.1.3, 4.14, and 4.2.2 of this Agreement.