Common use of Timing of Release of Claims Clause in Contracts

Timing of Release of Claims. Whenever in this Agreement a payment or benefit is conditioned on Feehan’s execution of a release of claims, such release must be executed and all revocation periods shall have expired within sixty (60) days after the Date of Termination; failing which such payment or benefit shall be forfeited. If such payment or benefit constitutes Non-Exempt Deferred Compensation, then such payment or benefit (including any installment payments) that would have otherwise been payable during such 60-day period shall be accumulated and paid on the 60th day after the Date of Termination provided such release shall have been executed and such revocation periods shall have expired. If such payment or benefit is exempt from Section 409A of the Code, the Company may elect to make or commence payment at any time during such period.

Timing of Release of Claims. Whenever in this Agreement a payment or benefit is conditioned on FeehanExecutive’s execution of a release of claims, such release must be executed executed, and all revocation periods shall have expired within sixty (60) 60 days after the Date of Termination; failing which such payment or benefit shall be forfeited. If such payment or benefit constitutes Non-Exempt Deferred Compensation, then such payment or benefit (including any installment payments) that would have otherwise been payable during such 60-day period shall be accumulated and paid on the 60th day after the Date of Termination provided such release shall have been executed and such revocation periods shall have expired. If such payment or benefit is exempt from Section 409A of the Code, the Company Employer may elect to make or commence payment at any time during such period.

Timing of Release of Claims. Whenever in this Agreement a payment or benefit is conditioned on FeehanExecutive’s execution of a release of claims, such release must be executed and all revocation periods shall have expired within sixty (60) 60 days after the Date of Termination; failing which such payment or benefit shall be forfeited. If such payment or benefit constitutes Non-Exempt Deferred Compensation, then such payment or benefit (including any installment payments) that would have otherwise been payable during such 60-day period shall be accumulated and paid on the 60th day after the Date of Termination provided such release shall have been executed and such revocation periods shall have expired. If such payment or LEGAL02/43757576v4 Exhibit 10.7 benefit is exempt from Section 409A of the Code, the Company Employer may elect to make or commence payment at any time during such period.

Timing of Release of Claims. Whenever in this Agreement a payment or benefit is conditioned on FeehanExecutive’s execution of a release of claims, such release must be executed and all revocation periods shall have expired within sixty (60) 60 days after the Date of Termination; failing which such payment or benefit shall be forfeited. If such payment or benefit constitutes Non-Exempt Deferred Compensation, then such payment or benefit (including any installment payments) that would have otherwise been payable during such 60-day period shall be accumulated and paid on the 60th day after the Date of Termination provided such release shall have been executed and such revocation periods shall have expired. If such payment or benefit is exempt from Section 409A of the Code, the Company Bank may elect to make or commence payment at any time during such period.

Timing of Release of Claims. Whenever in this Agreement a payment or benefit is conditioned on FeehanExecutive’s execution of a release of claims, such release must be executed and all revocation periods shall have expired within sixty (60) 60 days after the Date of TerminationTermination Date; failing which such payment or benefit shall be forfeited. If such payment or benefit constitutes Non-Exempt Deferred Compensation, then such payment or benefit (including any installment payments) that would have otherwise been payable during such 60-day period shall be accumulated and paid on the 60th day after the Termination Date of Termination provided such release shall have been executed and such revocation periods shall have expired. If such payment or benefit is exempt from Section 409A of the Code, the Company Bank may elect to make or commence payment at any time during such period.

Timing of Release of Claims. Whenever in this Agreement a payment or benefit is conditioned on FeehanExecutive’s execution of a release of claims, such release must be executed and all revocation periods shall have expired within sixty (60) 60 days after the Date date of Terminationtermination; failing which such payment or benefit shall be forfeited. If such payment or benefit constitutes Non-Exempt Deferred Compensation, then such payment or benefit (including any installment payments) that would have otherwise been payable during such 60-day period shall be accumulated and paid on the 60th day after the Date date of Termination termination provided such release shall have been executed and such revocation periods shall have expired. If such payment or benefit is exempt from Section 409A of the Code, the Company Employer may elect to make or commence payment at any time during such period.

Timing of Release of Claims. Whenever in this Agreement a payment or benefit is conditioned on FeehanExecutive’s execution of a release of claims, such release must be executed and all revocation periods shall have expired within sixty (60) 60 days after the Date of Termination; failing which such payment or benefit shall be forfeited. If such payment or benefit constitutes Non-Exempt Deferred Compensation, then then, subject to subsection (c) above, such payment or benefit (including any installment payments) that would have otherwise been payable during such 60-day period shall be accumulated and paid on the 60th day after the Date of Termination provided such release shall have been executed and such revocation periods shall have expired. If such payment or benefit is exempt from Section 409A of the Code, the Company may elect to make or commence payment at any time during such 60-day period.

Timing of Release of Claims. Whenever in this Agreement a payment or benefit is conditioned on FeehanExecutive’s execution of a release of claims, such release must be executed and all revocation periods shall have expired within sixty (60) 60 days after the Date date of Terminationtermination; failing which such payment or benefit shall be forfeited. If such payment or benefit constitutes Non-Exempt Deferred Compensation, then such payment or benefit (including any installment payments) that would have otherwise been payable during such 60-day period shall be accumulated and paid on the 60th day after the Date date of Termination termination provided such release shall have been executed and such revocation periods shall have expired. If such payment or benefit is exempt from Section 409A of the Code, the Company may elect to make or commence payment at any time during such period.have

Timing of Release of Claims. Whenever in this Agreement a payment or benefit is conditioned on FeehanEmployee’s execution of a release of claims, such release must be executed and all revocation periods shall have expired within sixty (60) 60 days after the Date date of Terminationtermination; failing which such payment or benefit shall be forfeited. If such payment or benefit constitutes Non-Exempt Deferred Compensation, then such payment or benefit (including any installment payments) that would have otherwise been payable during such 60-day period shall be accumulated and paid on the 60th day after the Date date of Termination termination provided such release shall have been executed and such revocation periods shall have expired. If such payment or benefit is exempt from Section 409A of the Code, the Company Employer may elect to make or commence payment at any time during such period.. ​