Common use of Receipt or Release Clause in Contracts

Receipt or Release. Any payment to any Participant or his Beneficiary in accordance with the provisions of this Trust Agreement shall, to the extent thereof, be in full satisfaction of all claims against the Trustee, the Administrator and the Company, and the Administrator may require such Participant or Beneficiary to execute a receipt and release to such effect as a condition precedent to such payment.

Receipt or Release. Any payment to any Participant or his Beneficiary in accordance with the provisions of this Trust Agreement shall, to the extent thereof, shall be in full satisfaction of all claims against the Trustee, Trustee to the Administrator and extent of the Companypayment, and the Administrator Trustee may require such Participant or Beneficiary Beneficiary, as a condition precedent to such payment, to execute a receipt and release to such effect as a condition precedent to such paymenteffect.