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The Severance Benefits and rights to COBRA Reimbursement under the Employment Agreement are intended to be exempt from section 409A of the Code under the \u201cshort-term deferral\u201d exception of Treas. Reg. Section 1.409A-1(b)(4), to the maximum extent applicable, and then under the \u201cseparation pay\u201d exception of Treas. Reg. Section 1.409A-1(b)(9)(iii), to the maximum extent applicable. All payments that are subject to Section 409A that are to be made upon a termination of the Releasee\u2019s employment may only be made upon the Releasee\u2019s \u201cseparation from service,\u201d as defined in Treas. Reg. Section 1.409A-1(h), from the Company. For purposes of section 409A of the Code, the right to a series of installment payments under this Agreement shall be treated as a right to a series of separate payments and each such installment shall be treated as a separate payment. 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