Severance Payment. Without limiting the provisions of the foregoing Section, assuming Key Employee’s employment with the Company shall have been continuous from Key Employee’s start date through the occurrence of the applicable event, and provided Key Employee executes and delivers to the Company, within twenty-one (21) days (or, to the extent required by law, forty-five (45) days) following the termination date (with any revocation periods having expired without any revocations by Key Employee), a separation agreement that includes a general release of claims against the Company and persons affiliated with the Company substantially in the form attached hereto as Exhibit A (the “Release”), then:

Severance Payment. The Company agrees to pay Employee a lump sum equivalent to twelve (12) months of Employee’s base salary, for a total of four hundred seventy-four thousand five hundred dollars ($474,500.00), less applicable withholdings. This payment will be made to Employee within ten (10) business days after the Effective Date of this Agreement.

Severance Payment. If Executive’s employment terminates prior to a Change of Control or after the date that is twelve (12) months after a Change of Control, then the Company will pay Executive an amount equal to 1.75 times the sum of # Executive’s Base Salary as of the Termination Date, and # an amount equal to Executive’s target Annual Bonus for the fiscal year that includes the Termination Date, which amount will be paid in a lump sum payment on the earlier to occur of: # the Company’s first payroll date that comes on or after the date that is sixty (60) days after the Termination Date, or # the fifth (5th) business day after the expiration of such sixty (60)-day period. If Executive’s employment terminates on the date of a Change in Control or within twelve (12) months after a Change of Control, then the Company will pay Executive an amount equal to 2.0 times the sum of # Executive’s Base Salary as of the Termination Date, and # an amount equal to Executive’s target Annual Bonus for the fiscal year that includes the Termination Date, which amount will be paid in a lump sum payment on the earlier to occur of: # the Company’s first payroll date that comes on or after the date that is sixty (60) days after the Termination Date, or # the fifth (5th) business day after the expiration of such sixty (60)-day period.

Severance Payment. If, on the occurrence of a Change-in-Control or, within two (2) years following the occurrence of a Change-in-Control, # Executive’s employment with the Company is terminated by the Company other than for Cause or Executive’s death, or # Executive resigns for Good Reason, then the Company shall pay to Executive as severance pay in a lump sum, in cash, on or before the fifth day following the Date of Termination, an amount equal to # two (2) times the average of the base salary and contributions made by the Company to its ESOP Plan on Executive’s behalf paid to Executive during the two (2) calendar years preceding the Change-in-Control (or the annual average for any shorter period, if applicable) plus # two times the Executive’s target bonus amount for the calendar year in which the Change-in-Control occurs (or if not yet determined for that calendar year in which the Change-in-Control occurs, the Executives’ targeted bonus for the preceding calendar year). In addition, the Company shall promptly reimburse Executive each month for all costs incurred by Executive of purchasing COBRA continuing coverage (as described in Section 4980B of the Code) for Executive and all of Executive’s dependents following Executive’s Date of Termination for so long as Executive qualifies for such continuing coverage. Notwithstanding the foregoing, in the event a Change-in-Control occurs on or before the one (1) year anniversary of the Effective Date, the severance payment to Executive shall be limited to and shall not exceed One Million Dollars ($1,000,000.00).

Severance Payment. If Executive’s employment is terminated by the Company without Cause (as defined in Section 7.1 above) or if Executive voluntarily resigns Executive’s position with the Company for Good Reason (as defined in Section 7.3 above) within thirty (30) days prior to or twelve (12) months after a Change of Control (as that term is defined below), Executive shall be entitled to receive the Severance Payment described in Section 7.2 above, provided Executive complies with the Severance Obligations except that the “Severance Payment” amount shall be paid in a single lump-sum payment, without interest, on or before the second regularly scheduled payroll date following the effectiveness of the binding release as set forth in Section 7.2 above; provided, however, that if any portion of the Severance Payment constitutes deferred compensation subject to Section 409A, and the sixty (60) day period for executing the Release described in Section 7.2 would span two (2) calendar years, then, subject further to Section 7.6(a), such portion of the Severance Payment shall be paid on the first regularly scheduled payroll date occurring on or after sixty (60) days following the calendar year in which the termination date occurs.

Severance Payment. If Executive’s employment terminates prior to a Change of Control or after the date that is twelve (12) months after a Change of Control, then the Company will pay Executive an amount equal to 0.75 times the sum of # Executive’s Base Salary as of the Termination Date, and # an amount equal to Executive’s target Annual Bonus for the fiscal year that includes the Termination Date, which amount will be paid in a lump sum payment on the earlier to occur of: # the Company’s first payroll date that comes on or after the date that is sixty (60) days after the Termination Date, or # the fifth (5th) business day after the expiration of such sixty (60)-day period. If Executive’s employment terminates on the date of a Change in Control or within twelve (12) months after a Change of Control, then the Company will pay Executive an amount equal to 1.0 times the sum of # Executive’s Base Salary as of the Termination Date, and # an amount equal to Executive’s target Annual Bonus for the fiscal year that includes the Termination Date, which amount will be paid in a lump sum payment on the earlier to occur of: # the Company’s first payroll date that comes on or after the date that is sixty (60) days after the Termination Date, or # the fifth (5th) business day after the expiration of such sixty (60)-day period.

Severance Payment. The Company will pay Executive (or his legal representatives, as the case may be) an amount equal to one (1) times Executive’s Base Salary as of the Termination Date, which amount will be paid in a lump sum payment on the earlier to occur of: # the Company’s first payroll date that comes on or after the date that is sixty (60) days after the Termination Date, or # the fifth (5th) business day after the expiration of such sixty (60)-day period.

Severance Payment. If you execute this Agreement, and fully comply with your obligations hereunder, the Company will make twenty-four severance payments to you in the bi-monthly, gross amount of $15,066.67 for twelve months following the Separation Date. These payments will be subject to standard payroll deductions and withholdings and will be made on the Company’s ordinary payroll dates, beginning with the first such date which occurs at least eight (8) business days following the Company's receipt of your executed Agreement. The Company is offering severance to you in reliance on Treasury Regulation Section 1.409A­ l(b)(9) and the short-term deferral exemption in Treasury Regulation Section l.409A-l(b)(4). Any payments made in reliance on Treasury Regulation Section l.409A-l(b)(4) will be made not later than November 15, 2020. For purposes of Code [Section 409A], your right to receive any installment payments under this letter (whether severance payments, reimbursements or otherwise) shall be treated as a right to receive a series of separate payments and, accordingly, each installment payment hereunder shall at all times be considered a separate and distinct payment.

Severance Payment. Pursuant to the terms of your Employment Agreement with the Company dated August 10, 2015 (the “Employment Agreement”), the Company will pay you six (6) months of your base salary, less standard payroll deductions and tax withholdings, as cash severance plus any bonus amounts determined in accordance with Section 4 below (the “Severance”). The Severance will be paid # for the base salary, in the form of continuing base salary payments on the Company’s regular payroll schedule, with such payments to start on the first payroll date thirty (30) days following the Separation Date, and # for the bonus, as provided in Section 4 below. You acknowledge and agree that such continuing payments represent the cash severance you are entitled to under the Employment Agreement.

Severance Payment. The Company will pay Executive (or his legal representatives, as the case may be) an amount equal to one (1) times Executive’s Base Salary as of the Termination Date, which amount will be paid in a lump sum payment on the earlier to occur of: # the Company’s first payroll date that comes on or after the date that is sixty (60) days after the Termination Date, or # the fifth (5th) business day after the expiration of such sixty (60)-day period.