Document:

EX-10.2

AMENDED AND RESTATED PROMISSORY NOTE

	 	 	 
	$1,000,000.00

	 	Irvine, California

May 31, 2006

FOR VALUE RECEIVED, each of Quincy Investments Corp., a Bahamas International Business Company
(“Quincy”), and Naturade, Inc., a Delaware corporation (“Naturade”) (Quincy and
Naturade are collectively referred to herein as “Debtor”), jointly and severally promise to
pay to the order of Symbiotics, Inc. (“Symbiotics”), an Arizona corporation and Symco,
Incorporated (“Symco”), a Nevada corporation, (Symbiotics and Symco are collectively
referred to herein as “Creditor”), subject to the terms and conditions contained in this
Amended and Restated Promissory Note (the “Note”), the principal sum of one million dollars
($1,000,000.00) and all accrued and unpaid interest thereon. This Note is the promissory note
referred to in Section 1.04(a) of that certain Asset Purchase Agreement dated as of July 22, 2005,
by and among Symbiotics, Symco, and Quincy, as amended by that certain Amendment to Asset Purchase
Agreement and Release (the “Purchase Agreement Amendment”) dated as of September 1, 2005, by and
among Symbiotics, Symco, Naturade, Quincy and Peter H. Pocklington (the “Purchase Agreement”), and
the Agreement dated May 31, 2006, by and among Symbiotics, Symco, Naturade and Quincy (the
“Agreement”). The representations and warranties of Quincy in the Purchase Agreement and of
Naturade in that certain Assignment and Assumption Agreement dated as of July 22, 2005, by and
among Symbiotics, Symco, Naturade and Quincy (the “Assignment”), are incorporated herein by this
reference.

1. Principal. Subject to the acceleration of principal provided for in this Note,
Debtor shall repay the principal amount of this Note in accordance to the repayment schedule
attached as Exhibit A.

2. Interest. Charged at a rate of six percent (7%) per annum on the outstanding
balance. Payment of accrued interest will be in accordance with the repayment schedule attached as
Exhibit A.

3. Prepayment. The unpaid principal balance and any and all other sums payable to
Creditor hereunder may be prepaid, in whole or in part, prior to the due date thereof at any time
without penalty.

4. Payments. All payments on this Note shall be made in lawful money of the United
States of America and in immediately available funds by wire transfer and be received by Creditor
into the account to be designated by Creditor in accordance with Section 15 of this Note. All
payments received in respect of this Note are to be applied first to the payment of penalties or
other similar amounts due hereunder, then to the payment of accrued and unpaid interest (if due)
and lastly to the payment of principal.

5. Guaranty. The performance by each Debtor of its obligations under this Note is
guaranteed pursuant to that certain Amended and Restated Guaranty of even date herewith by Peter H.
Pocklington (the “Guaranty”).

6. Acceleration. Upon the occurrence of an Event of Default (as defined in Section
7), all unpaid principal and accrued and unpaid interest of this Note shall become immediately due
and payable, without presentment, demand, notice, protest or other requirements of any kind. In
addition, Creditor may exercise any or all of the rights granted to it under the Guaranty, and
Debtor agrees and acknowledges that any action taken by Creditor under the Guaranty shall not
constitute a waiver of any of Creditor’s rights against Debtor or a release of each Debtor from its
obligations hereunder.

7. Events of Default. The occurrence of any of the following shall constitute an
“Event of Default” under this Note:

(a) The failure of Debtor to make any payment required under this Note within two (2) days
after the date such payment is due, whether at the time scheduled for such payment, stated
maturity, by prepayment, acceleration or otherwise.

(b) The failure of either Debtor to observe or perform any of the other covenants, conditions
or obligations imposed upon such Debtor in this Note, or in any other document executed by Debtor,
or the breach in any material respect by either Debtor of any representation or warranty of such
Debtor contained in this Note or in any other document executed by Debtor.

(c) The filing of a petition by or against Debtor under any provisions of the Bankruptcy
Reform Act, Title 11 of the United States Code, as amended or recodified from time to time, or
under any similar or other law relating to bankruptcy, insolvency, reorganization or other relief
for debtors; the appointment of a receiver, trustee, custodian or liquidator of or for any part of
the assets or property of Debtor; Debtor becomes insolvent, makes a general assignment for the
benefit of creditors or is generally not paying its debts as they become due; or any attachment or
like levy on any property of Debtor.

(d) The cessation of business by, or dissolution or liquidation of, either Debtor.

8. Waiver. Debtor hereby consents to renewals and extension of time at or after the
maturity hereof, without notice, and hereby waives diligence, presentment, protest, demand and
notice of every kind and, to the full extent permitted by law, the right to plead any statute of
limitations as a defense to any demand hereunder.

9. Remedies. No failure or delay on the part of Creditor or any other holder of this
Note to exercise any right, power or privilege under this Note and no course of dealing between
Debtor and Creditor shall impair such right, power or privilege or operate as a waiver of any
default or any acquiescence therein, nor shall any single or partial exercise of any such right,
power or privilege preclude any other or further exercise thereof or the exercise of any other
right, power or privilege. The rights and remedies expressly provided in this Note are cumulative
to, and not exclusive of, any rights or remedies that Creditor would otherwise have. No notice to
or demand on Debtor in any case shall entitle Debtor to any other or further notice or demand in
similar or other circumstances or constitute a waiver of the right of Creditor to any other or
further action in any circumstances without notice or demand.

10. Authority to Execute and Bind. Each Debtor warrants that the undersigned
signatory executing this Note on behalf of such Debtor has the power and authority to bind Debtor.

11. Governing Law; Venue. This Note is to be construed pursuant to the substantive
laws of the State of Arizona, without regard to Arizona’s choice-of-law rules. The parties hereto
each, to the fullest extent it may effectively do so under applicable law, irrevocably (i) submits
to the exclusive jurisdiction of any court of the State of Arizona or the United States of America
sitting in Coconino County over any suit, action or proceeding arising out of or relating to this
Note, (ii) waives and agrees not to assert, by way of motion, as a defense or otherwise, any claim
that it is not subject to the jurisdiction of any such court, any objection that it may now or
hereafter have to the establishment of the venue of any such suit, action or proceeding brought in
any such court and any claim that any such suit, action or proceeding brought in any such court has
been brought in an inconvenient forum, and (iii) agrees that a final judgment in any such suit,
action or proceeding brought in any such court shall be conclusive and binding upon such party and
may be enforced in the courts of the United States of America or the State of Arizona (or any other
courts to the jurisdiction of which such party is or may be subject) by a suit upon such judgment.

12. Severability. In case any one or more of the provisions of this Note, in whole or
in part, shall be held to be invalid or unenforceable in any respect, the validity and
enforceability of the remainder of such provision(s) or remaining provisions shall not be affected
or impaired.

13. Costs and Expenses. Debtor shall pay to Creditor upon demand the amount of any
and all costs and expenses, including the reasonable fees and expenses of its counsel and of any
experts and agents, that Creditor may incur in connection with (a) the exercise or enforcement of
any of the rights of Creditor hereunder or (b) the failure by Debtor to perform or observe any of
the provisions hereof.

14. Further Assurances. Debtor will execute all such further and additional documents
as shall be reasonable, convenient, necessary or desirable to carry out the provisions of this
Note.

15. Notices. All notices, requests, consents and other communications required or
permitted hereunder shall be in writing and shall be personally delivered, electronically delivered
by facsimile to the following telephone numbers or mailed by using first-class certified mail,
postage prepaid, to the following addresses or to such other address as the parties hereto may
designate in writing:

	 	 	 	 	 
	If to Debtor:
	 	Quincy Investments Corp.

	 
	 	309 Terraces North
	 
	 	47-111 Vintage Drive East
	 
	 	Indian Wells, California 92210

	 
	 	Attn:  Peter H. Pocklington

	 
	 	Fax:  760-862-2752

	 
	 	Naturade, Inc.

	 
	 	14370 Myford Rd, #100
	 
	 	Irvine, CA  92606

	 
	 	Attn:  Bill Stewart

	 
	 	Fax No.:  714-573-4822

	If to Creditor:
	 	Symbiotics, Inc.

	 
	 	Symco, Incorporated

	 
	 	70 Sheath Drive
	 
	 	Sedona, Arizona  86336

	 
	 	Attn: Douglas A. Wyatt

	 
	 	Fax:  928-203-0279

All such notices, requests, consents and other communications shall be deemed to be properly given
upon receipt, if delivered personally or, if sent by mail, three business days after the same has
been deposited in the United States mail, addressed and postage prepaid as set forth above or, if
sent electronically, upon verification of receipt.

16. Delays or Omissions. No delay or omission to exercise any right, power or remedy
accruing to Creditor under this Note shall impair any such right, power or remedy, nor shall it be
construed to be a waiver of any such breach or default, or an acquiescence therein, or in any
similar breach or default thereafter occurring; nor shall any waiver of any single breach or
default be deemed a waiver of any other breach or default theretofore or thereafter occurring.

17. No Right of Set-Off. The payment to Creditor of any amount under this Note may
not be withheld, set-off against or reduced by any amount owed, or claimed to be owed, to Debtor by
Creditor for any reason whatsoever. Debtor acknowledges and agrees that Creditor has satisfied all
of its obligations under Section 1.01 of the Purchase Agreement and that Debtor has released
Creditor from any claims, obligations or liability arising from or in connection with the Purchase
Agreement as set forth in Sections 6.1 and 6.2 of the Purchase Agreement Amendment. Debtor’s
obligation to make the payments required under this Note is absolute and unconditional. Debtor
agrees not to assert any claim, demand, or other right against Creditor in order to withhold,
set-off against or reduce the amount of any payment required under this Note and further agrees to
pursue or assert any claim or right against Creditor only by commencing an independent proceeding.
Debtor further acknowledges that its failure to comply with the preceding sentence or otherwise
comply with this Section 17, whether or not in good faith or ultimately determined to be justified,
shall constitute an Event of Default under this Note as provided in Section 7(b) hereof.

18. Confession of Judgment. Upon the occurrence of an Event of Default under this
Note, Debtor agrees to submit to the confession of judgment procedure set forth in Sections 1132
through 1134 of the Code of Civil Procedure of California and to take in good faith any and all
actions necessary to follow the procedures set forth therein (including without limitation
consulting in good faith with independent legal counsel and preparing and executing any documents
related thereto) not later than 20 days after the occurrence of the Event of Default. Debtor
recognizes that this covenant is a material and significant covenant to Creditor and that time is
of the essence in complying herewith.

IN WITNESS WHEREOF, Debtor has executed this Promissory Note as of the date first above
written.

	 	 	 	 	 	 	 
	QUINCY INVESTMENTS CORP.

	 	 	 	NATURADE, INC.
	 	

	 
	 	 	 	 	 	 
	By: /s/Peter H. Pocklington
	 	By: /s/Stephen M. Kasprisin

	 
	 	 	 	 	 	 
	 
	 	 

	 
	 	 	 	 	 	 
	Name:

Title:

	 	Peter H. Pocklington

Chairman
	 	Name:

Title:
	 	Stephen M. Kasprisin

Chief Financial Officer
	 
	 	 	 	 	 	 
	SYMBIOTICS, INC.

	 	 	 	SYMCO, INCORPORATED.
	 	

	 
	 	 	 	 	 	 
	By: /s/Douglas Wyatt

	 	 	 	By: /s/ Douglas Wyatt
	 	

	 
	 	 	 	 	 	 
	 
	 	 

	 
	 	 	 	 	 	 
	Name:

Title:

	 	Douglas Wyatt

President
	 	Name:

Title:
	 	Douglas Wyatt

President
	 
	 	 	 	 	 	 

1

Exhibit A

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Payment	 	Principal	 	Principal	 	Interest Charge	 	Payment
	 	 	Date	 	Reduction	 	Balance	 	7.0%	 	Amount
	
 
	 	5/23/2006
	 	 	 	 	 	$	1,000,000.00	 	 	

	 	

	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	1

	 	6/15/2006
	 	$	33,333.33	 	 	$	966,666.67	 	 	$	5,753.42	 	 	$	39,086.76	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	2

	 	7/15/2006
	 	$	33,333.33	 	 	$	933,333.33	 	 	$	5,561.64	 	 	$	38,894.98	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	3

	 	8/15/2006
	 	$	33,333.33	 	 	$	900,000.00	 	 	$	5,369.86	 	 	$	38,703.20	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	4

	 	9/15/2006
	 	$	33,333.33	 	 	$	866,666.67	 	 	$	5,178.08	 	 	$	38,511.42	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	5

	 	10/15/2006
	 	$	33,333.33	 	 	$	833,333.33	 	 	$	5,152.51	 	 	$	38,485.84	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	6

	 	11/15/2006
	 	$	33,333.33	 	 	$	800,000.00	 	 	$	4,954.34	 	 	$	38,287.67	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	7

	 	12/15/2006
	 	$	33,333.33	 	 	$	766,666.67	 	 	$	4,602.74	 	 	$	37,936.07	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	8

	 	1/15/2007
	 	$	33,333.33	 	 	$	733,333.33	 	 	$	4,557.99	 	 	$	37,891.32	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	9

	 	2/15/2007
	 	$	33,333.33	 	 	$	700,000.00	 	 	$	4,219.18	 	 	$	37,552.51	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	10

	 	3/15/2007
	 	$	33,333.33	 	 	$	666,666.67	 	 	$	4,161.64	 	 	$	37,494.98	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	11

	 	4/15/2007
	 	$	33,333.33	 	 	$	633,333.33	 	 	$	3,963.47	 	 	$	37,296.80	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	12

	 	5/15/2007
	 	$	33,333.33	 	 	$	600,000.00	 	 	$	3,400.91	 	 	$	36,734.25	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	13

	 	6/15/2007
	 	$	33,333.33	 	 	$	566,666.67	 	 	$	3,567.12	 	 	$	36,900.46	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	14

	 	7/15/2007
	 	$	33,333.33	 	 	$	533,333.33	 	 	$	3,260.27	 	 	$	36,593.61	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	15

	 	8/15/2007
	 	$	33,333.33	 	 	$	500,000.00	 	 	$	3,170.78	 	 	$	36,504.11	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	16

	 	9/15/2007
	 	$	33,333.33	 	 	$	466,666.67	 	 	$	2,876.71	 	 	$	36,210.05	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	17

	 	10/15/2007
	 	$	33,333.33	 	 	$	433,333.33	 	 	$	2,774.43	 	 	$	36,107.76	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	18

	 	11/15/2007
	 	$	33,333.33	 	 	$	400,000.00	 	 	$	2,493.15	 	 	$	35,826.48	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	19

	 	12/15/2007
	 	$	33,333.33	 	 	$	366,666.67	 	 	$	2,378.08	 	 	$	35,711.42	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	20

	 	1/15/2008
	 	$	33,333.33	 	 	$	333,333.33	 	 	$	2,109.59	 	 	$	35,442.92	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	21

	 	2/15/2008
	 	$	33,333.33	 	 	$	300,000.00	 	 	$	1,981.74	 	 	$	35,315.07	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	22

	 	3/15/2008
	 	$	33,333.33	 	 	$	266,666.67	 	 	$	1,783.56	 	 	$	35,116.89	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	23

	 	4/15/2008
	 	$	33,333.33	 	 	$	233,333.33	 	 	$	1,585.39	 	 	$	34,918.72	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	24

	 	5/15/2008
	 	$	33,333.33	 	 	$	200,000.00	 	 	$	1,297.72	 	 	$	34,631.05	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	25

	 	6/15/2008
	 	$	33,333.33	 	 	$	166,666.67	 	 	$	1,189.04	 	 	$	34,522.37	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	26

	 	7/15/2008
	 	$	33,333.33	 	 	$	133,333.33	 	 	$	958.90	 	 	$	34,292.24	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	27

	 	8/15/2008
	 	$	33,333.33	 	 	$	100,000.00	 	 	$	792.69	 	 	$	34,126.03	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	28

	 	9/15/2008
	 	$	33,333.33	 	 	$	66,666.67	 	 	$	575.34	 	 	$	33,908.68	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	29

	 	10/15/2008
	 	$	33,333.33	 	 	$	33,333.33	 	 	$	396.35	 	 	$	33,729.68	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	30

	 	11/15/2008
	 	$	33,333.33	 	 	$	(0.00	)	 	$	198.17	 	 	$	33,531.51	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

2EX-10.1

ARBITRON INC.

EXECUTIVE RETENTION AGREEMENT

THIS EXECUTIVE RETENTION AGREEMENT is entered into as of      , 2006 (the
“Effective Date”), by and between Arbitron Inc., a Delaware corporation (the “Company”), and
     (the “Executive”). [This Agreement amends and supersedes the Executive Retention
Agreement between the Company and the Executive dated November 9, 2001.]

WHEREAS, the Executive is currently employed by the Company and is an executive officer of the
Company;

WHEREAS, the Company has implemented a severance program for executive officers and wishes to
document under this Agreement the provisions applicable to the Executive in the event of his or her
termination of employment;

WHEREAS, in addition, the Company recognizes that a Change of Control may result in material
alteration or diminishment of the Executive’s position and responsibilities and substantially
frustrate the purpose of Executive’s commitment to the Company and forbearance of career options,
and has determined therefore to provide enhanced severance and other benefits in the event of a
Change of Control;

WHEREAS, the parties wish to replace any and all prior agreements and undertakings with
respect to the Executive’s termination of employment and Change of Control occurrences and
compensation, other than the agreements governing the Executive’s equity participation in the
Company (as the same are modified by Section 5 of this Agreement);

NOW THEREFORE, in consideration of the Executive’s acceptance of and continuance in
Executive’s employment, the parties agree to be bound by the terms contained in this agreement as
follows:

1. “At-Will” Employment. The Company may terminate the Executive’s employment at any
time for any reason pursuant to a Notice of Termination. The Executive may terminate his or her
employment with the Company at any time for any reason pursuant to a Notice of Termination. If the
Executive dies while still an employee of the Company, the Executive’s death shall be a termination
of employment from the Company. Any termination of the Executive’s employment by the Company or
the Executive (other than because of the Executive’s death) shall be communicated by written Notice
of Termination to the other party hereto in accordance with Section 6.1 below. For
purposes of this Agreement, a “Notice of Termination” shall mean a notice which shall indicate the
specific termination provision in this Agreement relied upon, if any, and shall set forth in
reasonable detail the facts and circumstances claimed to provide a basis for termination of the
Executive’s employment under the provision so indicated. The Company’s notice shall be given in
writing by the Chief Executive Officer. Termination of the Executive’s employment shall take
effect on the Date of Employment Termination, the setting of which shall require the minimum notice
period described under the definition of “Date of Employment Termination.”

2. Compensation Upon Termination.

2.1. Death. Except as provided in Section 2.5, if the Executive’s employment
is terminated as a result of the Executive’s death, the Company shall pay to the Executive’s
estate, or as may be directed by the legal representatives of such estate, the Executive’s then
current base salary through the Date of Employment Termination and all other unpaid amounts, if
any, to which Executive is entitled as of the Date of Employment Termination. The payments
contemplated by this Section 2.1 shall be paid at the time they are due, and the Company
shall have no further obligations to the Executive or his or her estate under this Agreement.

2.2. Disability. Except as provided in Section 2.5, if the Company terminates
the Executive’s employment because of the Executive’s Disability, the Company shall pay the
Executive the Executive’s then current base salary through the Date of Employment Termination and
all other unpaid amounts, if any, to which Executive is entitled as of the Date of Employment
Termination. The payments contemplated by this Section 2.2 shall be paid at the time they
are due, and the Company shall have no further obligations to the Executive under this Agreement;
provided, however, that the base salary shall be reduced by the amount of any disability benefit
payments made to the Executive during a period of Disability from any insurance or other policies
provided by the Company.

2.3. By the Company for Cause or by the Executive. Except as provided in Section
2.5, if the Executive’s employment with the Company is terminated in accordance with this
Section 2.3, the Company shall pay the Executive the Executive’s then current base salary
through the Date of Employment Termination and all other unpaid amounts, if any, to which Executive
is entitled as of the Date of Employment Termination. The Executive’s termination is covered by
this Section 2.3, (i) if the Executive voluntarily terminates his or her employment other
than during the Window Period as described in Section 2.5, or (ii) if the Company
terminates the Executive’s employment for Cause. The payments contemplated by this Section
2.3 shall be paid at the time such payments are due, and the Company shall have no further
obligations to the Executive under this Agreement.

2.4. By the Company other than for Cause. Except as provided in Section 2.5,
if the Company terminates the Executive’s employment other than for Cause, the Company shall pay
the Executive the Executive’s then current base salary through the Date of Employment Termination
and all other unpaid amounts, if any, to which the Executive is entitled as of the Date of
Employment Termination, plus the following amounts:

(a) Severance Amount. If the Executive has to his or her credit fewer than 15 Years
of Service, the Executive shall receive a severance payment equal to 12 months of the Executive’s
Reference Compensation. If the Executive has to his or her credit 15 or more Years of Service, the
Executive shall receive a severance payment equal to 15 months of the Executive’s Reference
Compensation. This severance payment amount shall be paid in a lump sum, following the Executive’s
Date of Employment Termination in accordance with Section 6.2; provided, however, that the
severance payment amount shall not be paid prior to the Company’s receipt of a duly executed Waiver
and Release Agreement that is not revoked during the applicable regulatory revocation period.

(b) Health and Welfare Benefits Continuation; Outplacement. Commencing on his or her
Date of Employment Termination, and except as next provided, for the duration of the Benefits
Continuation Period, the Executive shall be entitled to receive from the Company the same or
equivalent health, dental, accidental death and dismemberment, short and long-term disability, life
insurance coverages, and all other insurance policies and health and welfare benefits programs,
policies or arrangements, at the same levels and coverages as Executive was receiving on the day
immediately prior to his or her Date of Employment Termination. The Executive shall be required to
pay no more for the above-mentioned benefits than he or she paid as an active employee, or if
provided by the Company at no cost to the employee on the date immediately prior to the Executive’s
Date of Employment Termination, the benefits shall continue to be made available to the Executive
on this basis. In addition, the Company shall provide or make available arrangements for
reasonable outplacement services for the Executive based on his or her level within the Company.
With respect to any particular benefit, the benefit’s continuation described in this paragraph
shall end earlier than the end of the Benefits Continuation Period as of the date the Executive (or
in the case of dependent coverage, the Executive’s dependent), is eligible for the benefit under a
plan, program or arrangement of a subsequent employer which provides a benefit that is
substantially equivalent to the benefit being terminated.

2.5. Termination During Window Following a Change of Control Other than by the Company for
Cause. If the Executive’s employment with the Company terminates following a Change of Control
during the Window Period, other than by a termination by the Company for Cause, the Executive shall
be entitled to payment of the Executive’s then current base salary through the Date of Employment
Termination and all other unpaid amounts, if any, to which the Executive is entitled as of the Date
of Employment Termination, plus the following amounts:

(a) Severance Amount. If the Executive has to his or her credit fewer than 15 Years
of Service, the Executive shall receive a severance payment equal to 18 months of the Executive’s
Reference Compensation. If the Executive has to his or her credit 15 or more Years of Service, the
Executive shall receive a severance payment equal to 21 months of the Executive’s Reference
Compensation. This severance payment amount shall be paid in a lump sum, following the Executive’s
Date of Employment Termination in accordance with Section 6.2; provided, however, that the
severance payment amount shall not be paid prior to the Company’s receipt of a duly executed Waiver
and Release Agreement that is not revoked during the applicable regulatory revocation period.

(b) Health and Welfare Benefits Continuation; Outplacement. Commencing on his or her
Date of Employment Termination, and except as next provided, for the duration of the Benefits
Continuation Period, the Executive shall be entitled to receive from the Company the same or
equivalent health, dental, accidental death and dismemberment, short and long-term disability, life
insurance coverages, and all other insurance policies and health and welfare benefits programs,
policies or arrangements, at the same levels and coverages as Executive was receiving on the day
immediately prior to his or her Date of Employment Termination. The Executive shall be required to
pay no more for the above-mentioned benefits than he or she paid as an active employee, or if
provided by the Company at no cost to the employee on the date immediately prior to the Executive’s
Date of Employment Termination, the benefits shall continue to be made available to the Executive
on this basis. In addition, the Company shall provide or make available arrangements for
reasonable outplacement services for the Executive based on his or her level within the Company.
With respect to any particular benefit, the benefit’s continuation described in this paragraph
shall end earlier than the end of the Benefits Continuation Period as of the date the Executive (or
in the case of dependent coverage, the Executive’s dependent), is eligible for the benefit under a
plan, program or arrangement of a subsequent employer which provides a benefit that is
substantially equivalent to the benefit being terminated.

3. Waiver and Release Agreement. In consideration of the severance payments described
in Section 2.4 or Section 2.5, to which severance payments the Executive would
otherwise not be entitled, and as a pre-condition to the Executive becoming entitled to such
severance payments under this Agreement, the Executive agrees to execute at the time of Executive’s
termination a Waiver and Release Agreement in exactly the form provided to the Executive by the
Company without alteration or addition (the “Waiver and Release Agreement”), attached hereto as
Exhibit A, the terms and conditions of which are specifically incorporated herein by
reference.

4. Certain Additional Payments by the Company.

(a) Notwithstanding anything in this Agreement to the contrary and except as set forth in this
Section 4, in the event it shall be determined that any payment or distribution by the
Company to or for the benefit of the Executive (whether paid or payable or distributed or
distributable pursuant to the terms of this Agreement or otherwise, but determined without regard
to any additional payments required under this Section 4) (a “Payment”) would be subject to
the excise tax imposed by Section 4999 of the Code or any interest or penalties are incurred by the
Executive with respect to such excise tax (such excise tax, together with any such interest and
penalties, are hereinafter collectively referred to as the “Excise Tax”), then the Executive shall
be entitled to receive an additional payment (a “Gross-Up Payment”) in an amount such that after
payment by the Executive of all taxes, including, without limitation, any income taxes (and any
interest and penalties imposed with respect thereto) and Excise Tax imposed upon the Gross-Up
Payment, the Executive retains an amount of the Gross-Up Payment equal to the Excise Tax (including
any interest or penalties imposed with respect to such taxes) imposed upon the Payments.

(b) Subject to the provisions of Section 4(c), all determinations required to be made
under this Section 4, including whether and when a Gross-Up Payment is required and the
amount of such Gross-Up Payment and the assumptions to be utilized in arriving at such
determination, shall be made by the Company’s external auditors (the “Accounting Firm”), which
shall provide detailed supporting calculations both to the Company and the Executive within 15
business days of the receipt of notice from the Executive that there has been a Payment, or such
earlier time as is requested by the Company. In the event that the Accounting Firm is serving as
accountant or auditor for the individual, entity or group effecting the Change of Control, the
Executive shall appoint another nationally recognized accounting firm to make the determinations
required hereunder (which accounting firm shall then be referred to as the Accounting Firm
hereunder). All fees and expenses of the Accounting Firm shall be borne solely by the Company.
Any Gross-Up Payment, as determined pursuant to this Section 4, shall be paid by the
Company to the Executive within five business days of the receipt of the Accounting Firm’s
determination. Any determination by the Accounting Firm shall be binding upon the Company and the
Executive. As a result of the uncertainty in the application of Section 4999 of the Code at the
time of the initial determination by the Accounting Firm hereunder, it is possible that Gross-Up
Payments which will not have been made by the Company should have been made (“Underpayment”),
consistent with the calculations required to be made hereunder. In the event that the Company
exhausts its remedies pursuant to Section 4(c) and the Executive thereafter is required to
make a payment of any Excise Tax, the Accounting Firm shall determine the amount of the
Underpayment that has occurred and any such Underpayment shall be promptly paid by the Company to
or for the benefit of the Executive.

(c) The Executive shall notify the Company in writing of any claim by the Internal Revenue
Service that, if successful, would require the payment by the Company of the Gross-Up Payment.
Such notification shall be given as soon as practicable but no later than ten business days after
the Executive is informed in writing of such claim and shall apprise the Company of the nature of
such claim and the date on which such claim is requested to be paid. The Executive shall not pay
such claim prior to the expiration of the 30-day period following the date on which he or she gives
such notice to the Company (or such shorter period ending on the date that any payment of taxes
with respect to such claim is due). If the Company notifies the Executive in writing prior to the
expiration of such period that it desires to contest such claim, the Executive shall:

(i) give the Company any information reasonably requested by the Company relating to
such claim,

(ii) take such action in connection with contesting such claim as the Company shall
reasonably request in writing from time to time, including, without limitation, accepting
legal representation with respect to such claim by attorneys reasonably selected by the
Company,

(iii) cooperate with the Company in good faith in order effectively to contest such
claim, and

(iv) permit the Company to participate in any proceedings relating to such claim;

provided, however, that the Company shall bear and pay directly all costs and expenses (including
additional interest and penalties) incurred in connection with such contest and shall indemnify and
hold the Executive harmless, on an after-tax basis, for any Excise Tax or income tax (including
interest and penalties with respect thereto) imposed as a result of such representation and payment
of costs and expenses. Without limitation on the foregoing provisions of this Section
4(c), the Company shall control all proceedings taken in connection with such contest and, at
its sole option, may pursue or forgo any and all administrative appeals, proceedings, hearings and
conferences with the taxing authority in respect of such claim and may, at its sole option, either
direct the Executive to pay the tax claimed and sue for a refund or contest the claim in any
permissible manner, and the Executive agrees to prosecute such contest to a determination before
any administrative tribunal, in a court of initial jurisdiction and in one or more appellate
courts, as the Company shall determine; further provided,, that if the Company directs the
Executive to pay such claim and sue for a refund, the Company shall advance the amount of such
payment to the Executive, on an interest-free basis, and shall indemnify and hold the Executive
harmless, on an after-tax basis, from any Excise Tax or income tax (including interest or penalties
with respect thereto) imposed with respect to such advance or with respect to any imputed income
with respect to such advance; and, further provided, that any extension of the statute of
limitations relating to payment of taxes for the taxable year of the Executive with respect to
which such contested amount is claimed to be due is limited solely to such contested amount.
Furthermore, the Company’s control of the contest shall be limited to issues with respect to which
a Gross-Up Payment would be payable hereunder and the Executive shall be entitled to settle or
contest, as the case may be, any other issue raised by the Internal Revenue Service or any other
taxing authority.

(d) If, after the receipt by the Executive of an amount advanced by the Company pursuant to
Section 4(c), the Executive becomes entitled to receive any refund with respect to such
claim, the Executive shall (subject to the Company’s complying with the requirements of Section
4(c)) promptly pay to the Company the amount of such refund (together with any interest paid or
credited thereon after taxes applicable thereto). If, after the receipt by the Executive of an
amount advanced by the Company pursuant to Section 4(c), a determination is made that the
Executive shall not be entitled to any refund with respect to such claim and the Company does not
notify the Executive in writing of its intent to contest such denial of refund prior to the
expiration of 30 days after such determination, then such advance shall be forgiven and shall not
be required to be repaid and the amount of such advance shall offset, to the extent thereof, the
amount of Gross-Up Payment required to be paid.

5. Special Vesting Rules for Stock Incentives. If there is a Change of Control, then,
notwithstanding any contrary provision of the Arbitron Inc. 1999 Stock Incentive Plan (the “Plan”)
and notwithstanding any contrary provision in an award agreement under the Plan pursuant to which
Executive has received an equity incentive grant, the Executive’s awards under the Plan (including,
but not limited to, the Executive’s stock option and restricted stock awards, if any) shall fully
and immediately vest upon the consummation of the Change of Control. This Section 5 shall
not be changed or otherwise modified without the written consent of the Executive.

6. Miscellaneous.

6.1. Notices. All notices, demands, requests or other communications required or
permitted to be given or made hereunder shall be in writing and shall be delivered, telecopied or
mailed by first class registered or certified mail, postage prepaid, addressed as follows:

	 	 	 	 	 
	 
	 	with copy to:

	 
	 	Hogan & Hartson L.L.P.

	If to the Company:
	 	555 Thirteenth Street, N.W.
	Arbitron Inc.
	 	Washington, D.C.  20004-1109

	142 W. 57th Street
	 	Attention:  David Bonser

	New York, NY 10019-3300
	 	Telecopy:  (202) 637-5910

	Attention: Office of General Counsel
	 	Telephone:  (202) 637-5868

	 
	 	 	 	 

If to the Executive:

     

     

     

or to such other address as may be designated by either party in a notice to the other. Each
notice, demand, request or other communication that shall be given or made in the manner described
above shall be deemed sufficiently given or made for all purposes three days after it is deposited
in the U.S. mail, postage prepaid, or at such time as it is delivered to the addressee (with the
return receipt, the delivery receipt, the answer back or the affidavit of messenger being deemed
conclusive evidence of such delivery) or at such time as delivery is refused by the addressee upon
presentation.

6.2. Section 409A Compliance. Notwithstanding anything to the contrary
contained herein, in the event that the Company determines that any payment under this Agreement is
subject to Section 409A of the Code, such payments under this Agreement shall not be made until six
months after the Executive separates from service (or, if earlier, the date Executive dies) to the
extent necessary to avoid the imposition of the additional 20% tax under Section 409A of the Code.
Otherwise, payment of any lump sum severance payment generally shall be made within 15 days of the
Executive’s Date of Employment Termination.

6.3. Representations. The Executive agrees to execute any proper oath or verify any
proper document required to carry out the terms of this Agreement. The Executive represents that
performance of all the terms of this Agreement and the Waiver and Release Agreement will not breach
any similar agreement. Executive has not entered into, and Executive agrees not to enter into, any
oral or written agreement in conflict herewith.

6.4. Severability. The invalidity or unenforceability of any one or more provisions
of this Agreement shall not affect the validity or enforceability of the other provisions of this
Agreement, which shall remain in full force and effect.

6.5. Survival. It is the express intention and agreement of the parties hereto that
the provisions of Section 2 hereof shall survive the termination of employment of the
Executive. In addition, all obligations of the Company to make payments hereunder shall survive
any termination of this Agreement on the terms and conditions set forth herein.

6.6. Assignment. The rights and obligations of the parties to this Agreement shall
not be assignable or delegable, except that (i) in the event of the Executive’s death, the personal
representative or legatees or distributees of the Executive’s estate, as the case may be, shall
have the right to receive any amount owing and unpaid to the Executive hereunder and (ii) the
rights and obligations of the Company hereunder shall be assignable and delegable in connection
with any subsequent merger, consolidation, sale of all or substantially all of the assets of the
Company or similar reorganization to a successor entity. In connection with a transaction
described in item (ii) of the preceding sentence under which the Executive’s employment is
transferred to a successor in the transaction, the Company’s failure to obtain the agreement of its
successor to perform the Company’s obligations under this Agreement shall be treated as a
termination by the Company without Cause and during the Window Period following a Change of Control
under Section 2.5 of this Agreement and under the Executive’s Company equity agreements.

6.7. Binding Effect. Subject to any provisions hereof restricting assignment, this
Agreement shall be binding upon the parties hereto and shall inure to the benefit of the parties
and their respective heirs, devisees, executors, administrators, legal representatives, successors
and assigns.

6.8. Amendment; Waiver. This Agreement shall not be amended, altered or modified
except by an instrument in writing duly executed by the parties hereto. Neither the waiver by
either of the parties hereto of a breach of or a default under any of the provisions of this
Agreement, nor the failure of either of the parties, on one or more occasions, to enforce any of
the provisions of this Agreement or to exercise any right or privilege hereunder, shall thereafter
be construed as a waiver of any subsequent breach or default of a similar nature, or as a waiver of
any such provisions, rights or privileges hereunder.

6.9. Headings. Section and subsection headings contained in this Agreement are
inserted for convenience of reference only, shall not be deemed to be a part of this Agreement for
any purpose, and shall not in any way define or affect the meaning, construction or scope of any of
the provisions hereof.

6.10. Governing Law. This Agreement, the rights and obligations of the parties
hereto, and any claims or disputes relating thereto, shall be governed by and construed in
accordance with the laws of the State of Maryland (but not including the choice of law rules
thereof).

6.11. Entire Agreement. This Agreement, the Waiver and Release Agreement, and any
agreements entered into in connection with the Executive’s equity participation in the Company (as
modified by Section 5 of this Agreement) constitute the entire agreement between the parties
respecting the employment of Executive, there being no representations, warranties or commitments
except as set forth herein.

6.12. Counterparts. This Agreement may be executed in two or more counterparts, each
of which shall be an original and all of which shall be deemed to constitute one and the same
instrument.

6.13. No Right to Continued Employment. Nothing in this Agreement shall be deemed to
give the Executive the right to be retained in the employ of the Company, or to interfere with the
right of the Company to discharge the Executive at any time and for any lawful reason, subject in
all cases to the terms of this Agreement.

6.14. Definitions.

“Benefit Continuation Period” means the applicable 12, 15, 18 or 21 month period upon which
the Executive’s severance payment under Section 2.4 or 2.5 is based, treating the period as though
it runs from the Date of Employment Termination.

“Cause” means (i) fraud; (ii) misrepresentation; (iii) theft or embezzlement of assets of the
Company; (iv) intentional violations of law involving moral turpitude; (v) failure to follow the
Company’s conduct and ethics policies; and/or (vi) the continued failure by the Executive to
attempt in good faith to perform his or her duties as reasonably assigned by the Chief Executive
Officer to the Executive for a period of 60 days after a written demand for such performance which
specifically identifies the manner in which it is alleged the Executive has not attempted in good
faith to perform such duties.

“Code” means the Internal Revenue Code of 1986, as amended from time to time.

“Change of Control” means any of the following events:

	 	(i)	 	a merger or consolidation to which the Company is a party if
the individuals and entities who were stockholders of the Company immediately
prior to the effective date of such merger or consolidation have beneficial
ownership (as defined in Rule 13d-3 under the Exchange Act) of less than 50% of
the total combined voting power for election of directors of the surviving
Company immediately following the effective date of such merger or
consolidation;

	 	(ii)	 	the direct or indirect beneficial ownership (as defined in
Rule 13d-3 under the Exchange Act) in the aggregate of securities of the
Company representing 51% or more of the total combined voting power of the
Company’s then issued and outstanding securities by any person or entity, or
group of associated persons or entities acting in concert; provided, however,
that for purposes hereof, any acquisition by any employee benefit plan (or
related trust) sponsored or maintained by the Company or any corporation
controlled by the Company shall not constitute a Change of Control;

	 	(iii)	 	the direct or indirect beneficial ownership (as defined in
Rule 13d-3 under the Exchange Act) in the aggregate of securities of the
Company representing 25% or more of the total combined voting power of the
Company’s then issued and outstanding securities by any person or entity, or
group of associated persons or entities acting in concert if such acquisition
is not approved by the Board of Directors of the Company prior to any such
acquisition; provided, however, that for purposes hereof, any acquisition by
any employee benefit plan (or related trust) sponsored or maintained by the
Company or any corporation controlled by the Company shall not constitute a
Change of Control;

	 	(iv)	 	the sale of the properties and assets of the Company,
substantially as an entirety, to any person or entity which is not a
wholly-owned subsidiary of the Company;

	 	(v)	 	the stockholders of the Company approve any plan or proposal
for the liquidation of the Company; or

	 	(vi)	 	a change in the composition of the Board at any time during any
consecutive 24-month period such that the “Continuity Directors” cease for any
reason to constitute at least a 70% majority of the Board. For purposes of
this clause, “Continuity Directors” means those members of the Board who either
(A) were directors at the beginning of such consecutive 24-month period, or
(B) were elected by, or on the nomination or recommendation of, at least a
two-thirds majority of the then-existing Board of Directors.

“Date of Employment Termination” means (i) if the Executive’s employment is terminated by the
Executive’s death, the date of the Executive’s death; (ii) if the Executive’s employment is
terminated because of the Executive’s Disability, 30 days after Notice of Termination, provided
that the Executive shall not have returned to the performance of the Executive’s duties on a
full-time basis during such 30-day period; (iii) if the Executive’s employment is terminated by the
Company for Cause, the date immediately following the Notice of Termination; (iv) if the
Executive’s employment is terminated by the Company, 30 days after the Notice of Termination; or
(v) if the Executive voluntarily terminates his or her employment, the date 21 days after the
Notice of Termination.

“Determination Date” means the earlier of the date one week after the date on which Arbitron
or the entity effecting the Change of Control first announces to the public the existence of a
definitive agreement leading to the Change of Control or the date of commencement of a tender offer
leading to the Change of Control.

“Disability” means the Executive’s inability to perform all of the Executive’s duties
hereunder by reason of illness, physical or mental disability or other similar incapacity, as
determined by the Chief Executive Officer in his or her sole discretion, which inability shall
continue for more than three consecutive months; provided, however, that the Executive does not
hereby waive any rights under the Americans with Disabilities Act or other applicable law.

“Reference Compensation” means the sum of the Executive’s annual salary and annual bonus
divided by twelve. For purposes of this definition, the Executive’s annual salary is the greater
of the annual rate of his or her base salary from the Company and its subsidiaries in effect
immediately prior to the Date of Employment Termination, or the annual rate of the Executive’s base
salary from the Company and its subsidiaries in effect immediately prior to the date of
consummation of the Change of Control. For purposes of this definition, annual bonus shall mean
the greatest of (i) the average of the three annual bonuses paid to the Executive prior to his or
her Date of Employment Termination, (ii) the average of the three annual bonuses paid to the
Executive prior to the date of consummation of the Change of Control (if applicable, because
termination occurs during a Window Period), or the Executive’s target annual bonus under the
Company’s annual incentive compensation plan for the year that include his or her Date of
Employment Termination. If the Executive received fewer than three bonuses prior to his or her
Date of Employment Termination or the date of consummation of the Change of Control, as applicable,
the amounts described in Clauses (i) and (ii) shall be calculated using the average of such lesser
number of annual bonuses. The term annual bonus does not include any special or sign-on bonus that
is not part of the Company’s regular and recurring program of annual incentive compensation.

“Window Period” means the one-year period commencing on the date of consummation of a Change
of Control. Furthermore, only the first Change of Control shall be counted in determining whether
there is a Window Period, and, as a result, there shall not be multiple Window Periods under this
Agreement.

“Years of Service” means the number of whole years, i.e., completed consecutive 12-month
periods, in the period beginning on the date the Executive first performed services as an employee
of the Company (or its predecessor) and ending on his or her Date of Employment Termination.

IN WITNESS WHEREOF, the undersigned have duly executed this Agreement, or have caused this
Agreement to be duly executed on their behalf, as of the day and year first herein above written.

ARBITRON INC.

By:

Name:

Title:

EXECUTIVE:

1

EXHIBIT A

WAIVER AND RELEASE AGREEMENT

THIS WAIVER AND RELEASE AGREEMENT is entered into as of      , 20     (the “Effective
Date”), by      (the “Executive”) in consideration of the severance pay provided to the
Executive by Arbitron Inc. (“Employer”) pursuant to the Executive Retention Agreement by and
between the Employer and the Executive (the “Severance Payment”).

1. Waiver and Release. The Executive, on his own behalf and on behalf of his heirs,
executors, administrators, attorneys and assigns, hereby unconditionally and irrevocably releases,
waives and forever discharges Employer and each of its affiliates, parents, successors,
predecessors, and the subsidiaries, directors, owners, members, shareholders, officers, agents, and
employees of the Employer and its affiliates, parents, successors, predecessors, and subsidiaries
(collectively, all of the foregoing are referred to as the “Company”), from any and all causes of
action, claims and damages, including attorneys’ fees, whether known or unknown, foreseen or
unforeseen, presently asserted or otherwise arising through the date of his signing of the Waiver
and Release Agreement, concerning his employment or separation from employment. This release
includes, but is not limited to, any claim or entitlement to salary, bonuses, any other payments,
benefits or damages arising under any federal law (including, but not limited to, Title VII of the
Civil Rights Act of 1964, the Age Discrimination in Employment Act, the Employee Retirement Income
Security Act of 1974, the Americans with Disabilities Act, Executive Order 11246, the Family and
Medical Leave Act, and the Worker Adjustment and Retraining Notification Act, each as amended); any
claim arising under any state or local laws, ordinances or regulations (including, but not limited
to, any state or local laws, ordinances or regulations requiring that advance notice be given of
certain workforce reductions); and any claim arising under any common law principle or public
policy, including, but not limited to, all suits in tort or contract, such as wrongful termination,
defamation, emotional distress, invasion of privacy or loss of consortium.

The Executive understands that by signing this Waiver and Release Agreement he is not waiving
any claims or administrative charges which cannot be waived by law. He is waiving, however, any
right to monetary recovery or individual relief should any federal, state or local agency
(including the Equal Employment Opportunity Commission) pursue any claim on his behalf arising out
of or related to his employment with and/or separation from employment with the Employer.

The Executive further agrees without any reservation whatsoever, never to sue the Company or
become a party to a lawsuit on the basis of any and all claims of any type lawfully and validly
released in this Waiver and Release Agreement.

2. Acknowledgments. The Executive is signing this Waiver and Release Agreement
knowingly and voluntarily. He acknowledges that:

	 	(a)	 	He is hereby advised in writing to consult an
attorney before signing this Waiver and Release Agreement;

	 	(b)	 	He has relied solely on his own judgment and/or
that of his attorney regarding the consideration for and the terms of
this Waiver and Release Agreement and is signing this Waiver and
Release Agreement knowingly and voluntarily of his own free will;

	 	(c)	 	He is not entitled to the Severance Payment
unless he agrees to and honors the terms of this Waiver and Release
Agreement;

	 	(d)	 	He has been given at least forty-five (45)
calendar days to consider this Waiver and Release Agreement, or he
expressly waives his right to have at least forty-five (45) days to
consider this Waiver and Release Agreement;

	 	(e)	 	He may revoke this Waiver and Release Agreement
within seven (7) calendar days after signing it by submitting a written
notice of revocation to the Company. He further understands that this
Waiver and Release Agreement is not effective or enforceable until
after the seven (7) day period of revocation has expired without
revocation, and that if he revokes this Waiver and Release Agreement
within the seven (7) day revocation period, he will not receive the
Severance Payment;

	 	(f)	 	He has read and understands the Waiver and
Release Agreement and further understands that it includes a general
release of any and all known and unknown, foreseen or unforeseen claims
presently asserted or otherwise arising through the date of his signing
of this Waiver and Release Agreement that he may have against the
Company; and

	 	(g)	 	No statements made or conduct by the Company
has in any way coerced or unduly influenced him to execute this Waiver
and Release Agreements.

3. No Admission of Liability. This Waiver and Release Agreement does not constitute
an admission of liability or wrongdoing on the part of the Company, the Company does not admit
there has been any wrongdoing whatsoever against the Executive, and the Company expressly denies
that any wrongdoing has occurred.

4. Entire Agreement. There are no other agreements of any nature between the Company
and the Executive with respect to the matters discussed in this Waiver and Release Agreement,
except as expressly stated herein, and that in signing this Waiver and Release Agreement, he is not
relying on any agreements or representations, except those expressly contained in this Waiver and
Release Agreement.

5. Execution. It is not necessary that the Company sign this Waiver and Release
Agreement following the Executive’s full and complete execution of it for it to become fully
effective and enforceable.

6. Severability. If any provision of this Waiver and Release Agreement is found, held
or deemed by a court of competent jurisdiction to be void, unlawful or unenforceable under any
applicable statute or controlling law, the remainder of this Waiver and Release Agreement shall
continue in full force and effect.

7. Governing Law. This Waiver and Release Agreement shall be governed by the laws of
the State of Maryland except for the provisions of Maryland law that would refer jurisdiction to
another state.

8. Headings. Section and subsection headings contained in this Waiver and Release
Agreement are inserted for the convenience of reference only. Section and subsection headings
shall not be deemed to be a part of this Waiver and Release Agreement for any purpose, and they
shall not in any way define or affect the meaning, construction or scope of any of the provisions
hereof.

IN WITNESS WHEREOF, the undersigned has duly executed this Agreement as of the day and year
first herein above written.

EXECUTIVE:

2

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