The short timeout period is 3 seconds and the long timeout period is 90 seconds. The default is long. The short timeout period specifies that the PDU is sent every second and the port waits three times this long (three seconds) before invalidating the information received earlier on this PDU. The long timeout period specifies that the PDU is sent once in 30 seconds and the port waits three times this long (90 seconds) before invalidating the information received earlier on this PDU.
To configure the LACP timeout period on an interface, perform the following steps:
device(config)# interface ethernet 0/1
device(conf-if-eth 0/1)# lacp timeout short
device(conf-if-eth 0/1)# lacp timeout long