Five Hundred Forty. Four Thousand Two Hundred Fifty-Five Dollars and Seventy-Five Cents ($544,255.75) within 90 days after the Second Payment Period provided execution and delivery of the above mentioned Release. Notwithstanding the above, any Severance Pay to be paid pursuant to this letter will not be paid during the six month period following your termination of employment if the Compensation Committee of the Company determines that you are a “specified employee” within the meaning of Section 409A of the of the Internal Revenue Code of 1986, as amended (the “Code”) and that such amounts are not exempt from Code Section 409A. In such event, the Company will pay you a lump sum amount equal to the cumulative amounts that would have otherwise been paid to you during such six month period (without interest) on the first day following such six month period. Except for those obligations specifically set forth in this letter relating to the Covered Period and as described in Schedule A hereto, as of the date of this letter, any and all agreements or arrangements, either oral or written, between the Parties related to severance, commissions, bonuses, ownership or other interests in any entities or assets, payments and/or compensation of any kind including, but not limited to any documents, correspondence, oral promises or any other arrangements related to the proposal known as the Jonah Value Creation Project, are null and void. If you voluntarily resign during the Initial Period or are terminated for Cause at any time, you shall forfeit any entitlement to the Severance Pay. For purposes of entitlement to the Severance, “Cause” shall be defined as your:
Five Hundred Forty. Six (546) 2 X 4 lay-in four tube florescent light fixtures to give seventy (70) foot candles at desk height.
