exec time out means seession waits for the user input before the time out and closing the seession...and its default of 10 minutes you can use the "exec-timeout" command to configure time...
and session time oute is the time interval that the router waits for the traffic before closing the connection and its in minutes...and you can configure it using "session-timeout minutes" command...default is 0...and output key word in this command tell router to use both input and output traffic to reset the counters...if you not use this output key word then only input traffic will cause a counter reset...
hope this will clear your idea...
rate this post if it helps
regards
Devang