XXXXXXXXX BENEFITS PURSUANT TO THE EMPLOYMENT CONTRACT. 1. Severance Pay. Employee shall be entitled to Severance Pay in the gross amount of Two Million Six Hundred Forty-One Thousand Dollars and 00/100 Cents ($2,641,000.00), less lawfully required withholdings and any other agreed to deductions, which represents two (2) times Employee’s base salary in the aggregate amount of $1,050,000, plus two (2) times the average of Employee’s actual annual bonuses for the three fiscal years immediately preceding the fiscal year in which Employee’s termination of employment occurs in the aggregate amount of $1,591,000, as calculated pursuant to the terms of Employee’s Employment Agreement. Such Severance Pay will be paid to Employee in a series of successive equal installments over the one-year period measured from the date of Employee’s Separation Date, beginning with the first regular pay day following the expiration of the maximum twenty-one (21)-day review period and seven (7)-day revocation period in effect for the general release Employee is required to deliver pursuant to the attached Separation Agreement and General Release and Waiver of Claims as a condition for the severance benefits set forth in this Attachment A (such payment timing to be independent of when the Separation Agreement and General Release and Waiver of Claims actually becomes effective within such periods), but subject to any required holdback under Section 13(b) of Employee’s Employment Agreement. Subsequent installments will be paid on successive regular pay days for the Company’s salaried employees during the remainder of such one-year period.
