Document:

EX-10.5

 Exhibit 10.5 

<Date> 
 Dear
            : 
 This letter agreement (the “Agreement”) is entered into
effective as of the date shown above (the “Effective Date”) between                      (the “Executive”) and
Einstein Noah Restaurant Group, Inc., its affiliates and its successors and assigns (the “Company”). 
 The Board of Directors of
the Company (the “Board”) recognizes the importance of continuity of management during and following the Chief Executive Officer (“CEO”) search which is currently underway. The Board has authorized the Company to enter
into this Agreement with the Executive to set forth the severance obligations of the Company to the Executive as an inducement to the Executive to continue in the employ of the Company. The term of this Agreement commences as of the Effective Date
and shall remain in effect while the executive is employed by Einstein Noah Restaurant Group, unless modified or terminated by mutual agreement of the parties to this Agreement.  

The Company and the Executive agree as follows: 
  

	 	1.	Severance Payments and Benefits. If the Executive’s employment with the Company is terminated by the Company without Cause (a “Qualifying Termination”), in addition to all accrued but
unpaid salary and accrued vacation and unused paid time off, or PTO, the Company shall provide to the Executive a severance payment as set forth in (a) below and the continued benefits as set forth in (b) below. 

 

	 	a.	Severance Payment. The Company shall provide a severance payment in the amount equal to the Executive’s then current annual base salary (collectively the “Severance Payment”). The severance
payment will be made in equal installments commensurate with the Company’s payroll calendar for the one-year period. 

  

	 	b.	Executive Benefits. The Executive will continue to have access to coverage under the Company’s medical, dental, vision, and prescription drug plan (if and as such plans then exist) for a period equal to the
COBRA period under Section 4980B of the Code. The continuing coverage will be the same coverage that the Executive had at the time of the Qualifying Termination, subject to any changes to the Company’s benefit plan that affect then current
employees. The Executive’s cost shall be the same as the cost of an eligible active employee throughout the coverage period. In addition, the Executive shall be eligible to continue life insurance benefits for a period of the same length that
are no less favorable than those to which the Executive and his or her spouse and eligible dependents were receiving immediately prior to the date of the Qualifying Termination. The Executive may be required to complete any administrative forms and
comply with any applicable COBRA rules and procedures as determined by the Company or its delegate. The benefits described in this Section 3(b) collectively, the “Continued Benefits.” 

 

	 	c.	No Mitigation. The Executive shall not be required to seek other employment to mitigate damages, and any income earned by the Executive from other employment or self-employment shall not be offset against any
obligations of the Company to pay Severance Payments or provide benefits to the Executive under this Agreement. 

	 	2.	Time and Form of Payments and Benefits. Subject to the execution by the Executive of the release and waiver described below and the expiration of the revocation period, the first installment of the
Severance Payment shall be paid by the Company to the Executive on the first day the release and waiver of all claims set forth on Exhibit A becomes irrevocable and within 28 days following the date of the Executive’s “separation from
service” (as determined consistent with the requirements of Section 409A); provided, however, if this 28-day period begins in one calendar year and ends in a later calendar year, the payment will begin in the later calendar year on
a date determined by the Company within the 28-day period. The Continued Benefits shall be provided as set forth above. 

  

	 	3.	Covenants. 

  

	 	a.	Covenants of the Company. In order to induce the Executive to remain in the employ of the Company and in consideration of the covenants of the Executive set forth in subsection (b) hereof, the Company agrees
to provide (i) all payments and benefits as set forth in this Agreement and (ii) a mutual release and indemnification to the Executive in the form set forth on Exhibit A, which is incorporated herein by reference. 

 

	 	b.	Covenants of the Executive. In consideration of the payments and benefits to be provided by the Company to the Executive pursuant to this Agreement, the Executive hereby agrees to provide a mutual release and to
comply with the confidentiality and non-solicitation provisions in the form set forth on Exhibit A, which is incorporated herein by reference. 

The attached Exhibit A is a form of Mutual Release, Indemnification, Confidentiality and Non-Solicitation agreement. Following the
Executive’s termination of employment pursuant to the terms of this Agreement, and prior to payment of any amounts or benefits hereunder, the Executive and the Company agree to execute an agreement substantially in the form of Exhibit A. 

 

	 	4.	Taxes and Section 409A. The Company shall be entitled to withhold from any payments any amount of withholding required by law. The intent of the parties is that payments and benefits under this
Agreement comply with Section 409A of the Code, to the extent subject thereto, and accordingly, to the maximum extent permitted, this Agreement shall be interpreted and administered to be in compliance therewith. Notwithstanding anything
contained herein to the contrary, the Executive shall not be considered to have terminated employment with the Company for purposes of any payments under this Agreement which are subject to Section 409A until the Executive would be considered
to have incurred a “separation from service” within the meaning of Section 409A. Each amount to be paid or benefit to be provided under this Agreement shall be construed as a separate identified payment for purposes of
Section 409A. Without limiting the foregoing and notwithstanding anything contained herein to the contrary, to the extent required in order to avoid accelerated taxation and/or tax penalties under Section 409A, amounts that would otherwise
be payable and benefits that would otherwise be provided pursuant to this Agreement during the six-month period immediately following the Executive’s separation from service shall instead be paid on the first business day after the date that is
six months following the Executive’s separation from service (or, if earlier, the Executive’s date of death). To the extent required to avoid an accelerated or additional tax under Section 409A, amounts reimbursable to the Executive
under this Agreement shall be paid to the Executive on or before the last day of the year following the year in which the expense was incurred and the amount of expenses eligible for reimbursement (and in kind benefits provided to the Executive)
during one year may not affect amounts reimbursable or provided in any subsequent year. The Company makes no representation that any or all of the payments described in this Agreement will be exempt from or comply with Section 409A and makes no
undertaking to preclude Section 409A from applying to any such payment. 

	 	5.	Release and Waiver. The obligation of the Company to pay the Severance Payment and to provide the Continued Benefits set forth in this Agreement is conditioned upon the Executive executing and not revoking
a release of all claims in the form shown on Exhibit A, which is incorporated herein by reference and is acceptable to the Company and the Executive. 

  

	 	6.	Governing Law. This Agreement shall be construed, interpreted and governed in accordance with the laws of the state of Colorado, without reference to rules relating to conflicts of law. 

 

	 	7.	Effect on Prior Agreements. Except for provisions in the offer letter agreement and in the Change in Control (“CIC”) letter agreement between the Executive and the Company that are not affected
by this Agreement and amendments to this Agreement, this Agreement contains the entire understanding between the Company and the Executive and supersedes in all respects any prior or other agreements or understandings between the Company and the
Executive. 

  

	 	8.	Amendment and Termination. This Agreement may only be amended by written agreement of the Company and the Executive. 

  

	 	9.	Definitions. For purposes of this Agreement, the following definitions shall apply: 

“Cause” means and shall be deemed to have occurred as defined in the Omnibus Plan. 

“Code” means the Internal Revenue Code of 1986, as amended and all applicable regulations and guidance thereunder. 

“Section 409A” means section 409A of the Code and all applicable regulations and other guidance thereunder. 

IN WITNESS WHEREOF, the Company and the Executive have executed this Agreement in one or more counterparts on the dates set forth below, to be effective as of
the Effective Date. 
  

									
	Einstein Noah Restaurant Group, Inc.	 		 	  

	the Company	 		 	the Executive
			
	  
	 		 	  

	 Michael Arthur
 Interim President
and Chief Executive Officer
	 		 	
		 		 	
					
	Date:	 	  
	 		 	Date:	 	  

 EXHIBIT A 

Form of 
 Mutual
Release, Indemnification, Confidentiality and Non-Solicitation Provisions 
  

	 	1.	Mutual Release. The Executive, for himself, his heirs, personal representatives and assigns, and any other person or entity that could or might act on behalf of him, including, without limitation, his
counsel (all of whom are collectively referred to as “Executive Releasers”), and the Company, its parents, divisions, subsidiaries, affiliates, and each of their past and present officers, agents, directors, executives,
shareholders, independent contractors, attorneys and insurers (all of whom are collectively referred to as “Company Releasers), hereby fully and forever release and discharge each other of and from any and all actions, causes of action,
claims, demands, costs and expenses, including attorneys’ fees, of every kind and nature whatsoever, in law or in equity, whether now known or unknown, that each Releaser, or any person acting under any of them, may now have, or claim at any
future time to have, based in whole or in part upon any act or omission occurring from the beginning of time through the date of execution of this Agreement, including but not limited to, any claim in connection with the Executive’s employment
relationship with the Company, or the termination thereof, without regard to present actual knowledge of such acts or omissions, including specifically, but not by way of limitation, matters which may arise at common law, such as breach of contract,
express or implied, promissory estoppel, wrongful discharge, tortious interference with contractual rights, infliction of emotional distress, defamation, or under federal, state or local laws, that may be legally waived and released such as the Fair
Labor Standards Act, the Employee Retirement Income Security Act, as amended (with respect to unvested benefits), the National Labor Relations Act, Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act, the
Rehabilitation Act of 1973, the Equal Pay Act, the Americans with Disabilities Act; EXCEPT for the rights and obligations created by this Agreement AND EXCEPT for any vested rights under any pension, retirement, profit sharing, health and welfare or
stock option, or similar plan. 

 Each party hereby warrants that it or he has not assigned or transferred to
any person any portion of any claim which is released, waived and discharged above. 
 The Executive further warrants that
except as he has reported to the Company before the Separation Date, he has not experienced any illness, injury, or disability compensable or recoverable under the worker’s compensation laws of any state. 

The Executive further represents and warrants that he has been given at least 21 days to review and consider his rights and
obligations under this Agreement (although he may voluntarily choose to sign this Agreement earlier) and he may revoke this Agreement within the seven (7) day period following his execution of this Agreement. 

Each party specifically represents that it or he has had a full and fair opportunity to consult with counsel of its or his own
choosing concerning the agreements, representations, and declarations set forth in this Agreement. Each party understands and agrees that by signing this Agreement it or he is giving up its or his right to bring any legal claim against the other
party concerning, directly or indirectly, the Executive’s employment relationship with the Company, including the Executive’s separation from employment. Each party agrees that this legal release is intended to be interpreted in the
broadest possible manner in favor of the other party, to include all actual or potential legal claims that one party may have against the other, except as specifically provided otherwise in this Agreement. Notwithstanding any other provision of this
Agreement, this release shall not waive or in any way limit or otherwise affect the Executive’s rights, if any, to indemnification and/or defense in connection with any claim that may be asserted against the Executive as a consequence of his
employment with the Executive, whether such rights arise under the Company’s articles of incorporation, bylaws, insurance contracts or 

 
otherwise. Specifically, the Company shall indemnify and hold the Executive harmless, to the fullest extent permitted by applicable law as it presently exists or may hereafter be amended, in the
event the Executive was or is made or is threatened to be made a party or is otherwise involved in any action, suit or proceeding, whether civil, criminal, administrative or investigative (a “proceeding”) by reason of the fact that
he, or a person for whom he is the legal representative, is or was a director, officer, employee or agent of the Company or is or was serving at the request of the Company as a director, officer, employee or agent of another corporation or of a
partnership, joint venture, trust, enterprise or non-profit entity, including service with respect to employee benefit plans, against all liability and loss suffered and expenses reasonably incurred by such person. 

 

	 	2.	Protection of Trade Secrets and Confidential Information. 

  

	 	a.	Definition of “Confidential Information.” As used in this agreement, “Confidential Information” means all nonpublic information (whether in paper or electronic form, or contained in
Executive’s memory, or otherwise stored or recorded) relating to or arising from the Company’s business, including, without limitation, trade secrets used, developed or acquired by the Executive in connection with its business. Without
limiting the generality of the foregoing, “Confidential Information” shall specifically include all information concerning the manner and details of the Company’s operation, organization and management; financial information and/or
documents and nonpublic policies, procedures and other printed, written or electronic material generated or used in connection with the Company’s business; the Company’s business plans and strategies; the details of the Company’s
relationships with its distributors, contractors and vendors; nonpublic forms, contracts and other documents used in the Company’s business; all confidential information concerning the Company’s executives, agents and contractors,
including without limitation such persons’ compensation, benefits, skills, abilities, experience, knowledge and shortcomings, if any; the nature and content of proprietary computer software used in the Company’s business; and all other
information concerning the Company’s concepts, prospects, customers, executives, agents, contractors, earnings, products, services, equipment, systems, and/or prospective and executed contracts and other business arrangements.
“Confidential Information” does not include information that (i) is now in or later enters the public domain through no wrongful act on the part of the Executive, (ii) was in possession of the Executive prior to receipt from the
Company, (iii) is or was independently developed by the Executive without use of the Company’s confidential information, (iv) is furnished to others by the Company without restrictions similar to those herein on the right of the
Executive to use or disclose such information, or (v) must be disclosed pursuant to requirements of law or valid legal process, provided that the Executive shall promptly notify the Company in advance of any such disclosure and reasonably
cooperate in the Company’s attempts to maintain the confidentiality of its information at issue. 

  

	 	b.	Executive’s Use of Confidential Information. The Executive shall not, without the Company’s prior written consent, at any time, directly or indirectly, for a period of three (3) years following the
Effective Date: (i) use any Confidential Information for any purpose; or (ii) disclose or otherwise communicate any Confidential Information to any person or entity without the Company’s prior written consent. 

 

	 	c.	 Acknowledgments. The Executive acknowledges that during the Executive’s employment with the Company, the Executive had access to
Confidential Information, all of which was made accessible to the Executive only in strict confidence; that unauthorized disclosure of Confidential Information could damage the Company’s business; that Confidential Information could be
susceptible to immediate competitive application by a competitor of the Company’s; that the Company’s business is, in part, 

	 	
dependent on access to and the continuing secrecy of Confidential Information; that certain Confidential Information is novel, unique to the Company and known only to the Executive, the Company
and certain key executives and contractors of the Company; that the Company shall at all times retain ownership and control of all Confidential Information; and that the restrictions contained in this Agreement are reasonable and necessary for the
protection of the Company’s legitimate business interests. 

  

	 	d.	Records Containing Confidential Information. “Confidential Records” means all documents and other records, whether in paper, electronic or other form, that contain or reflect any Confidential
Information. The Executive shall immediately deliver to the Company or its designee (and shall not keep in the Executive’s possession or deliver to any other person or entity) all Confidential Records and all other Company property, whether
tangible or intangible, in the Executive’s possession or control. The Executive understands and agrees that compliance with this paragraph may require that data be removed from the Executive’s personal computer or other electronic
equipment. Consequently, upon written request from the Company, the Executive agrees to certify in writing to the Company that all Company Confidential Records previously existing on the Executive’s personal computer or other electronic
equipment have been deleted and/or destroyed. 

  

	 	3.	Prohibition of Unfair Solicitation. During the 12 months following the Separation Date, the Executive shall not without the Company’s prior written consent, directly or indirectly cause or attempt to
cause any executive, agent or contractor of the Company or any Company affiliate to terminate his or his employment, agency or contractor relationship with the Company or any Company affiliate; or interfere or attempt to interfere with the
relationship between the Company and any executive, agent or contractor. Notwithstanding the forgoing, however, this paragraph shall not prohibit any entity with whom the Executive is employed or otherwise affiliated from soliciting or hiring any
person so long as the Executive is not consulted concerning or otherwise involved, directly or indirectly, in such solicitation and/or hiring, nor shall this paragraph impose any liability upon any entity in the event that any person applies for or
inquires concerning employment in response to any advertisement or other job posting, so long as the Executive is not consulted concerning or otherwise involved, directly or indirectly, in any aspect of the recruitment, evaluation or hiring of the
person(s) in question.EX-10.6

 Exhibit 10.6 

Einstein Noah Restaurant Group Inc. 

2011 Omnibus Incentive Plan 

Stock Option Agreement 

You have been selected by the Compensation Committee of the Board of Directors of Einstein Noah Restaurant Group Inc., a Delaware corporation
(the “Company”) to receive a grant of Stock Options (“Options”) pursuant to the Einstein Noah Restaurant Group Inc. 2011 Omnibus Incentive Plan (the “Plan”) as specified below: 

 

					
	Participant:	 	  
	 	
			
	Date of Grant:	 	  
	 	
			
	Number of Options Granted:	 	  
	 	
			
	Option Price:	 	  
	 	
			
	Term of Option:	 	  
	 	

 Vesting Schedule: Unless otherwise provided in this Agreement or in the Plan, the Options shall vest according to the
following schedule: 
  

					
	 Date on Which Options Vest
	  	Number of Options Vested	  	Cumulative Number of Options Vested
			
		  	One-Third	  	One-Third
		  	One-Third	  	Two-Thirds
		  	One-Third	  	100%

 THIS AGREEMENT, effective as of the Date of Grant set forth above, represents the grant of Options by the Company to the
Participant named above, pursuant to the provisions of the Plan which includes additional terms and conditions governing the grant of Options. In the event of a conflict between the terms and conditions of the Plan and this Agreement, the terms and
conditions of the Plan shall govern. All capitalized terms in this Agreement shall have the meaning assigned to them in the Plan, unless specifically defined in this Agreement. 

By acceptance of this Agreement, the Participant acknowledges receipt of the Participant’s Notice of Grant of Options and a copy of the Plan and the
prospectus for the Plan. 
 The parties hereto agree as follows: 
  

	1.	 Employment With the Company; Forfeiture Restrictions. Except as may otherwise be provided in Sections 5 or 6 of this Agreement, the Options
granted hereunder are granted subject to the 

  
  

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condition that the Participant remains an employee of the Company from the Date of Grant through (and including) the date on which the Options become vested and are settled pursuant to Sections 2
and 3 of this Agreement and the terms of the Plan. 

 This grant of Options shall not confer any right to the Participant (or
any other Participant) to be granted Options or other Awards in the future under the Plan. 
  

	2.	Option Exercise. The method of exercising each Option granted and payment of the exercise price and all applicable withholdings shall be as specified by the Company’s third party administrator. Notice of
subsequent changes to the Plan administrator will be forwarded to the Participant pursuant to subparagraph 6(h) below. 

  

	3.	Termination of Employment/Option Exercise Period. On and after a Participant’s Termination of Employment, an Option shall not be exercisable except during the Option Exercise Period described below:

  

	 	(a)	By Disability. If the Termination of Employment is due to the Participant’s disability, then the Options Exercise Period shall be the period ending on the earlier of (i) the one-year anniversary of such
Termination of Employment or (ii) the date the Option expires. 

  

	 	(b)	By Death. If the Termination of Employment is due to the Participant’s death or if the Participant’s death occurs during the Option Exercise Period described in paragraph (a) above or during
the Option Exercise Period described in paragraph (c) below, then the Option Exercise Period shall be the period ending on the earlier of (i) the one-year anniversary of the Participant’s death or (ii) the date the Option
expires. 

  

	 	(c)	By Retirement. For purposes of this Agreement and in accordance with the authority granted to the Compensation Committee in Article 15 of the Einstein Noah Restaurant Group, Inc. 2011 Omnibus Incentive Plan,
effective May 3, 2011 (the “Omnibus Plan”), “Retirement” shall mean the occurrence of the cessation of the employment relationship between a Participant and the Corporation or a Subsidiary, as applicable, by reason of
the Participant’s retiring from active full-time employment on a date that is on or after the date that the Participant attains the age of 60 years; provided the Participant has at least 5 years of
employment service and provided the Participant does not become an employee, director, or consultant with a direct competitor for a minimum of 36 months. 

Provided the Participant’s Termination occurs as a result of the Participant’s Retirement, then any Restricted Share Units, Stock
Options, Performance Share Units or other long term incentives awarded to the Participant under the Omnibus Plan shall continue to vest (and be paid out) following the Participant’s Termination Date in the normal course for a period of three
(3) years extending from the Participant’s Termination Date. Provided further, should the Participant at any time within three (3) years of the Participant’s Termination Date commence work as a director, consultant or employee
with a direct competitor of Einstein Noah Restaurant Group or any of its Subsidiaries, any Restricted Share Units, Stock Options, Performance Share Units or other long term incentives awarded under the Omnibus Plan granted to such Participant which
have not yet vested shall immediately terminate and become null and void as of the date that the Board determines the Participant has commenced the provision of services and/or become engaged with such a Competitor. 

  
  

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	 	(d)	For Cause. In the event the employment of the Participant with the Company is involuntarily terminated for Cause, all unvested Options and any vested but unexercised Options will be forfeited as of the date of
such termination of employment. [unless otherwise defined in a separate agreement between the Participant and the Company.] For purposes of this Agreement, Cause means: 

 

	 	i)	Willful misconduct of the Participant; 

  

	 	ii)	Willful failure to perform the Participant’s duties; 

  

	 	iii)	Conviction of the Participant by a court of competent jurisdiction of a felony or entering the plea of nolo contendere to such crime by the Participant; or 

 

	 	iv)	The commission of an act of theft, fraud, dishonesty, or insubordination that is materially detrimental to the Company or any Subsidiary. 

 

	 	(e)	For Any Other Reason. If the Termination of Participant is due to reasons other than the Participant’s Disability, Death, Retirement or Cause, then the Option Exercise Period shall be the period ending on
the earlier of (i) the three-month anniversary of such Termination of Participant or (ii) the date the Option expires. 

  

	4.	Change in Control. Notwithstanding anything to the contrary in this Agreement, in the event of a Change in Control of the Company prior to the Participant’s termination of employment, the Participant shall
become immediately fully vested without restriction in all Options granted pursuant to this Agreement and exercisable over the Exercise Period. 

  

	5.	Restrictions on Transfer. Unless and until actual shares of stock of the Company are delivered in settlement of an exercise of Options, the Options granted pursuant to this Agreement may not be sold, transferred,
pledged, assigned, or otherwise alienated or hypothecated, other than by will or by the laws of descent and distribution, except as otherwise provided in the Plan. 

 

	6.	Beneficiary Designation. The Participant may, from time to time, designate a beneficiary or beneficiaries (who may be named contingently or successively) to whom any benefit under this Agreement is to be paid in
case of his or her death before he or she receives any or all of such benefit. Each such designation shall revoke all prior designations by the Participant, shall be in a form prescribed by the Company, and will be effective only when filed by the
Participant in writing with the Secretary of the Company during the Participant’s lifetime. In the absence of any such designation, benefits remaining unpaid at the Participant’s death shall be paid to the Participant’s executor,
administrator or legal representative. 

  

	7.	Continuation of Employment. This Agreement shall not confer upon the Participant any right to continue employment with the Company or its Subsidiaries, nor shall this Agreement interfere in any way with the
Company’s right to terminate the Participant’s employment at any time. 

  

	8.	Miscellaneous. 

  

	 	(a)	 This Agreement and the rights of the Participant hereunder are subject to all the terms and conditions of the Plan, as the same may be amended from
time to time, as well as to such rules and regulations as the Compensation Committee may adopt for administration of the Plan. The Compensation Committee shall have the right to impose such restrictions on any Shares

  
  

3 

	 	
acquired pursuant to this Agreement, as it may deem advisable, including, without limitation, restrictions under applicable federal securities laws, under the requirements of any stock exchange
or market upon which such shares are then listed and/or traded, and under any blue sky or state securities laws applicable to such shares. It is expressly understood that the Compensation Committee is authorized to administer, construe, and make all
determinations necessary or appropriate to the administration of the Plan and this Agreement, all of which shall be binding upon the Participant. 

  

	 	(b)	The Compensation Committee may terminate, amend, or modify the Plan or this Agreement; provided, however, that no such termination, amendment, or modification of the Plan may in any material way adversely affect the
Participant’s rights under this Agreement, without the written consent of the Participant. 

  

	 	(c)	The Participant agrees to take all steps necessary to comply with all applicable provisions of federal and state securities laws in exercising his or her rights under this Agreement. 

 

	 	(d)	This Agreement shall be subject to all applicable laws, rules, and regulations, and to such approvals by any governmental agencies or national securities exchanges as may be required. 

 

	 	(e)	All obligations of the Company under the Plan and this Agreement, with respect to the Options, shall be binding on any successor to the Company, whether the existence of such successor is the result of a direct or
indirect purchase, merger, consolidation, or otherwise, of all or substantially all of the business and/or assets of the Company. 

  

	 	(f)	To the extent not preempted by federal law, this Agreement shall be governed by, and construed in accordance with, the laws of the state of Colorado. 

 

	 	(g)	To the extent any provision of this Agreement is held by a court of competent jurisdiction to be unenforceable or invalid for any reason, the remaining provisions of this Agreement shall not be affected by such holding
and shall continue in full force in accordance with their terms. 

  

	 	(h)	Notice hereunder shall be given to the Company at its principal place of business, and shall be given to the Participant at the address then on file with the Company, or in either case at such addresses as one party may
subsequently furnish to the other party in writing. 

  
  

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