Severance Pay. The Company will pay to you $156,075, less all applicable taxes and withholdings, as severance pay (an amount equivalent to 12 months of your current base salary). This severance pay will be paid in installments in accordance with the Company’s regular payroll practices, but in no event shall payments begin earlier than the Company’s first payroll date following expiration of the Revocation Period. The 12 month period during which you receive severance pay shall be referred to as the “Severance Period”.

Severance Payment. The Company will pay you, as severance, an amount equivalent to twelve (12) months of your current base salary (in the total amount of $559,084), subject to standard payroll deductions and withholdings (the “Severance Payment”). The Severance Payment will be paid to you as a continuation on the Company’s regular payroll beginning after the Effective Date (as defined below); and

“(a) The Company will pay you one hundred four (104) weeks of severance pay at your current base salary ($1,152,000 annually), less withholding of all applicable federal, state, and local taxes. The severance payments will be paid to you in substantially equal installments in accordance with the Company’s regular payroll practices, with the first installment to be made on the first payroll date that follows your Retirement Date. For purposes of this Agreement, the period in which you receive severance payments pursuant to this Paragraph 2(a) shall be referred to as the “Severance Period.”