July 3, 2007 Joseph Ferrara [Address] Dear Joe:Severance Agreement • November 16th, 2007 • Tollgrade Communications Inc \Pa\ • Services-telephone interconnect systems • Pennsylvania
Tollgrade Communications, Inc. (“Tollgrade”) considers the stability of its executive management team to be essential to Tollgrade’s best interests. In order to induce you to accept and to remain in Tollgrade’s employment, this severance agreement (the “Agreement”) describes the severance compensation which Tollgrade agrees will be provided to you in the event your employment with Tollgrade is terminated under the circumstances described below. This Agreement will remain in effect for a period of three (3) years from the date your employment with Tollgrade commences (the “Term”).
