Common use of Written Release Clause in Contracts

Written Release. Prior to making any payment to or any --------------- contribution on behalf of the Executive, the Company shall have received from the Executive a written release of all claims by or through the Executive and against the Company, its stockholders, directors, officers, employees, representatives and successors by reason of the Executive's termination. Such written release shall be signed and delivered by the Executive in a form approved by the President of the Company or its successor. In addition, if in the opinion of counsel for the Company or its successor, waiting periods (not to exceed 21 days in the aggregate) are required under any federal or state law in order to make such written release binding and enforceable on the Executive, such waiting period shall have expired prior to the payment of any Income Continuation Payment hereunder.