Common use of Timing of Waiver and Release of Claims Clause in Contracts

Timing of Waiver and Release of Claims. Whenever in this Agreement the provision of payment or benefit is conditioned on Executive’s execution and non-revocation of a waiver and release of claims, such waiver and release must be executed, and all revocation periods must have expired, within 60 days after the date of termination of Executive’s employment, but the Company may elect to commence payment at any time during such 60-day period. Notwithstanding the foregoing, in any case where the date of termination of employment and the 60th day following the date of termination of employment fall in two separate taxable years, any payments required to be made to Executive that are conditioned on the waiver and release of claims and are treated as nonqualified deferred compensation for purposes of Section 409A shall be made in the later taxable year.

Timing of Waiver and Release of Claims. Whenever in this Agreement the provision of payment or benefit is conditioned on Executive’s execution and non-revocation of a waiver and release of claims, such waiver and release must be executed, and all revocation periods must have expired, within 60 days after the date of termination of the Executive’s employmentSeparation from Service, but the Company may elect to commence payment at any time during such 60-day period. Notwithstanding the foregoing, in any case where the date of termination of employment Separation from Service and the 60th day following the date of termination of employment Separation from Service fall in two separate taxable years, any payments required to be made to Executive that are conditioned on the waiver and release of claims and are treated as nonqualified deferred compensation for purposes of Section 409A shall be made in the later taxable year.

Timing of Waiver and Release of Claims. Whenever in this Agreement the provision of payment or benefit is conditioned on Executive’s 's execution and non-revocation of a waiver and release of claims, such waiver and release must be executed, and all revocation periods must have expired, within 60 days after the date of termination of Executive’s 's employment, but the Company may elect to commence payment at any time during such 60-day period. Notwithstanding the foregoing, in any case where the date of termination of employment and the 60th day following the date of termination of employment fall in two separate taxable years, any payments required to be made to Executive that are conditioned on the waiver and release of claims and are treated as nonqualified deferred compensation for purposes of Section 409A shall be made in the later taxable year.