diff --git a/releasenotes/notes/octavia_init_time_settings-1ef46f6b9d4fc1df.yaml b/releasenotes/notes/octavia_init_time_settings-1ef46f6b9d4fc1df.yaml
new file mode 100644
index 00000000..c7cc4458
--- /dev/null
+++ b/releasenotes/notes/octavia_init_time_settings-1ef46f6b9d4fc1df.yaml
@@ -0,0 +1,23 @@
+---
+features:
+  - For the ``os_octavia`` role, the systemd unit ``TimeoutSec`` value which
+    controls the time between sending a SIGTERM signal and a SIGKILL signal
+    when stopping or restarting the service has been reduced from 300 seconds
+    to 120 seconds. This provides 2 minutes for long-lived sessions to drain
+    while preventing new ones from starting before a restart or a stop. The
+    ``RestartSec`` value which controls the time between the service stop and
+    start when restarting has been reduced from 150 seconds to 2 seconds to
+    make the restart happen faster. These values can be adjusted by using the
+    ``octavia_*_init_overrides`` variables which use the
+    ``config_template`` task to change template defaults.
+upgrade:
+  - For the ``os_octavia`` role, the systemd unit ``TimeoutSec`` value which
+    controls the time between sending a SIGTERM signal and a SIGKILL signal
+    when stopping or restarting the service has been reduced from 300 seconds
+    to 120 seconds. This provides 2 minutes for long-lived sessions to drain
+    while preventing new ones from starting before a restart or a stop. The
+    ``RestartSec`` value which controls the time between the service stop and
+    start when restarting has been reduced from 150 seconds to 2 seconds to
+    make the restart happen faster. These values can be adjusted by using the
+    ``octavia_*_init_overrides`` variables which use the
+    ``config_template`` task to change template defaults.
diff --git a/templates/octavia-systemd-init.j2 b/templates/octavia-systemd-init.j2
index 15af05c1..fb9baeaf 100644
--- a/templates/octavia-systemd-init.j2
+++ b/templates/octavia-systemd-init.j2
@@ -17,9 +17,9 @@ ExecStart={{ octavia_bin }}/{{ item.value.service_name }} {{ program_config_opti
 {% endif %}
 
 # Give a reasonable amount of time for the server to start up/shut down
-TimeoutSec=300
+TimeoutSec=120
 Restart=on-failure
-RestartSec=150
+RestartSec=2
 
 # This creates a specific slice which all services will operate from
 #  The accounting options give us the ability to see resource usage through