Error: Syntax Error: Unexpected token else

Hello! I'm brand new to Adobe After Effects and just pasted in some code for a timer, but I'm getting a syntax error on line 1. I don't know much about codeing so I was hoping sombody smarter than me might know. Here's the code:

rate = 1;
clockStart = 0;
function padZero(n){
if (n < 10) return "0" + n else return "" + n
}
clockTime = clockStart + rate*(time - inPoint);
if (clockTime < 0){
sign = "-";
clockTime = -clockTime;
}else{
sign = "";
}
t = Math.floor(clockTime);
hr = Math.floor(t/3600);
min = Math.floor((t%3600)/60);
sec = Math.floor(t%60);
ms = clockTime.toFixed(3).substr(-3);
sign + padZero(min) + ":" + padZero(sec)