Document:

Separation Agreement

 Exhibit 10.1 
 SEPARATION AGREEMENT 
 AND GENERAL RELEASE OF CLAIMS 

This Agreement is between Steven J. Freiberg (“Employee”) and E*TRADE Financial Corporation (the “Company”) and is effective as of
the eighth day after it is signed by Employee (the “Effective Date”), provided that Employee has not revoked this Agreement (by written notice as set forth below prior to that date). 

 

	1.	Separation Date: Employee’s employment with the Company shall terminate on August 9, 2012 (the “Separation
Date”). Regardless of whether Employee signs or revokes this Agreement, Employee shall receive all accrued and unpaid wages through the Separation Date. As of the Separation Date, Employee has resigned from the Company’s Board of Directors
and from any and all other director, manager, officer or employee positions he may hold with the Company, E*TRADE Bank, and any of the Company’s subsidiaries and affiliates. 

 

	2.	Consideration: In consideration for the release of claims set forth below, the Company agrees to provide Employee with the following
benefits in full satisfaction of any amounts payable under the Employment Agreement dated March 19, 2010 (the “Employment Agreement”), in each case less applicable tax withholding: 

 

	 	a.	a lump sum cash severance payment of $7,000,000, which payment shall be paid within 30 days following the Effective Date; 

 

	 	b.	a lump sum cash payment equal to 222/366 multiplied by the product of (i) the Annual Cash Target (defined in the Employment Agreement to be $3,000,000) and
(ii) a percentage (not to exceed 100%) that is the weighted average of the actual cash bonus payout percentages determined by the Company’s Compensation Committee for the Company’s Executive Vice Presidents for the Company’s
fiscal year ending December 31, 2012; provided that the foregoing payment shall be paid to you no later than March 15, 2013; and 

  

	 	c.	accelerated vesting as of the Effective Date of all outstanding options and restricted stock units (collectively, “Equity Grants”), and any Equity Grant which
is a stock option shall remain exercisable until 12 months following such termination of employment (but in no event beyond the maximum seven-year expiration date set forth in the option agreement). 

 

	3.	 Release: In exchange for the benefits described in Paragraph 2, above, Employee (including his successors and assigns) releases and
absolutely discharges the Company (including its subsidiaries and other affiliated entities, and each of their respective shareholders, directors, employees, agents, attorneys, legal successors and assigns) (the “Company Parties”) from any
and all claims, actions and causes of action, whether now known or unknown, which Employee now has, or at any other time had, or shall or may have, against the Company Parties arising out of or relating to any matter, cause, fact,

  
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thing, act or omission whatsoever occurring or existing at any time to and including the date of execution of this Agreement by Employee, including, but not limited to, claims relating to the
Employment Agreement or any other offer letter or employment agreement between Employee and the Company, the parties’ employment relationship, the termination of that relationship, the Employee’s purchase or right to purchase shares of the
Company’s stock, and any claims of breach of contract, infliction of emotional distress, fraud, defamation, personal injury, wrongful discharge or age, sex, race, national origin, industrial injury, physical or mental disability, medical
condition, sexual orientation or other discrimination, harassment or retaliation, claims under the federal Americans with Disabilities Act, Title VII of the federal Civil Rights Act of 1964, as amended, the Age Discrimination in Employment Act
(“ADEA”), 42 U.S.C. Section 1981, the federal Fair Labor Standards Act, the federal Employee Retirement Income Security Act, the federal Worker Adjustment and Retraining Notification Act, the federal Family and Medical Leave Act, the
National Labor Relations Act, or any other federal, state or local law, all as they have been or may be amended, and all claims for attorneys fees and/or costs, to the full extent that such claims may be released (the “Release”).

 The Release does not apply to claims which cannot be released as a matter of law or indemnification of
Employee provided by the Company’s bylaws, charter, other corporate or organizational documents or other agreement concerning indemnification (including the Company’s insurance policies). As set forth in the last paragraph of
Section 1 of the Employment Agreement, the rights of Executive to indemnification and D&O insurance coverage with respect to all matters, events or transactions occurring or effected during Executive’s period of employment or service
as a director with the Company shall survive the termination of Executive’s employment. The Release does not release the Company from any obligation expressly set forth in this Agreement. Employee acknowledges and agrees that, but for providing
this waiver and release, he would not be receiving the economic benefits being provided under the terms of this Agreement. 
  

	4.	All Claims Waived: Employee understands that he is releasing claims that he may not know about and that it is Employee’s knowing and voluntary intent
even though Employee recognizes that some day he may regret having signed this Agreement. Nevertheless, Employee is assuming that risk and agrees that this Agreement shall remain effective in all respects in any such case. Employee expressly waives
all rights he might have under any law that is intended to protect Employee from waiving unknown claims. 

  

	5.	Reimbursements: Employee will be reimbursed for outstanding business expenses in accordance with the Company’s standard procedures. Employee will
have 60 days from the Separation Date to submit all outstanding business expenses, if any, with appropriate documentation for reimbursement by the Company. Failure to submit documented business expenses for reimbursement within this time period will
be considered a representation by Employee that he has been reimbursed for all business expenses. 

  

	6.	Benefits: Employee understands and acknowledges that he shall be entitled to no benefits from the Company other than those expressly set forth in
Paragraph 2 and any vested benefits earned under Company employee benefit plans through the Separation Date. Employee understands that he will receive no bonus payment for the 2012 fiscal year, except as set forth in Paragraph 2.

  
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	7.	No Admission: This Agreement constitutes a mutually acceptable vehicle for effecting Employee’s departure from the Company and shall not be used or
treated or deemed to be an admission of liability or responsibility on the part of any released person or entity. 

  

	8.	Confidential Information: Employee represents that he has returned or will return all Company property, both physical and electronic, as the Company may
request, and that he will maintain the confidentiality of all Company proprietary information. 

  

	9.	Mutual Non-Disparagement: Employee agrees that he shall not disparage the Company or its officers, directors, employees, products or services. The Company
agrees that it will not (and will use reasonable efforts to cause its directors and officers not to) disparage Employee in the course of any authorized internal or external communication. Notwithstanding the foregoing, nothing contained in this
Agreement will prohibit Employee or the Company from providing truthful testimony in any legal proceeding, communicating with any governmental agency or representative, making any truthful disclosure required or permitted under law, or complying
with any regulatory request, subpoena or other legal process. Employee and the Company acknowledge that the Company will be required to disclose this Agreement and its terms in its public filings with the SEC. 

 

	10.	Dispute Resolution: In the event of any dispute or claim relating to or arising out of this Agreement (including, but not limited to, any claims of breach
of contract, wrongful termination or age, sex, race or other discrimination), Employee and the Company agree that all such disputes shall be fully and finally resolved by binding arbitration conducted through the American Arbitration Association in
New York, New York in accordance with its National Employment Dispute Resolution rules. Employee acknowledges that by accepting this arbitration provision he is waiving any right to a jury trial in the event of such dispute. In connection with any
such arbitration, the Company shall bear all costs not otherwise borne by a plaintiff in a court proceeding. The prevailing party shall be entitled to recover from the losing party its attorneys’ fees and costs incurred in any action brought to
enforce any right arising out of this Agreement. 

  

	11.	Entire Agreement: This Agreement, together with any confidentiality, proprietary rights and dispute resolution agreement between Employee and the Company,
constitute the entire agreement between the parties with respect to the subject matter hereof and supersede all prior negotiations and agreements, whether written or oral, including the Employment Agreement. This Agreement may not be altered or
amended except by a written document signed by Employee and an authorized representative of the Company. 

  
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	12.	Older Workers Benefit Protection Act: In accordance with the Older Workers Benefit Protection Act, Employee understands and acknowledges that he has been
advised to consult an attorney before accepting this Agreement. Employee further understands and acknowledges that he or he has up to 21 days from the date this Agreement is presented to Employee to accept this Agreement by dating and signing a copy
of this Agreement and returning it to the Company, although it may be accepted at any time within such period. Employee further understands that, once having accepted this Agreement, Employee will have an additional seven (7) days within which
to revoke his acceptance, by delivering written notice of execution of the Agreement to Andrew Goodman, Executive Vice President and Chief Human Resources Officer. If Employee revokes this Agreement during the seven-day period, Employee will not be
eligible for and will be required to return all consideration received under this Agreement. 

 EMPLOYEE UNDERSTANDS THAT HE IS
ENTITLED TO CONSULT WITH AN ATTORNEY PRIOR TO SIGNING THIS AGREEMENT AND THAT HE IS GIVING UP ANY LEGAL CLAIMS HE HAS AGAINST THE PARTIES RELEASED ABOVE BY SIGNING THIS AGREEMENT. EMPLOYEE IS SIGNING THIS AGREEMENT KNOWINGLY, WILLINGLY AND
VOLUNTARILY IN EXCHANGE FOR THE BENEFITS DESCRIBED IN PARAGRAPH 2. 
  

											
	Dated:	 	8/14/12	 		 		 	Employee
						
		 		 		 		 		 	/s/ Steven J. Freiberg
		 		 		 		 		 	Steven J. Freiberg
		 		 		 		 		 	
					
	Dated:	 	8/15/12	 		 		 	E*TRADE Financial Corporation
						
		 		 		 		 	By:	 	/s/ Frank J. Petrilli            
		 		 		 		 		 	Name: Frank J. Petrilli
		 		 		 		 		 	 Title: Chairman and

          Interim Chief Executive Officer

  
 4Exhibit 10.1

 Exhibit 10.1 
 Genworth Financial, Inc. 
 2012 Key Employee Severance Plan

 1. Purpose. The purpose of the Plan is to promote the retention of a selected group of key employees of the Company by enabling
the Company to offer certain protections to such employees in the event their employment is involuntarily terminated under certain circumstances. Capitalized terms and phrases used herein shall have the meanings ascribed thereto in Section 2.

 2. Definitions. 
 a. “Affiliate” shall have the meaning ascribed to such term in Rule 12b-2 of the General Rules and Regulations of the Exchange Act. 

b. “Base Salary” shall mean the Participant’s annual base salary in effect on the date of termination of the
Participant’s employment with the Company, including amounts not currently includible in gross income by reason the Participant’s election to defer such amounts under a cafeteria plan, 401(k) plan, or nonqualified deferred compensation
plan of the Company or an Affiliate. 
 c. “Board” shall mean the board of directors of the Company from time to time.

 d. “Bonus” shall mean the Participant’s target annual cash bonus for the year in which the Participant’s
employment is terminated. 
 e. “Cause” shall mean (with regard to a Participant’s termination of employment with
the Company): (i) the Participant’s willful and continued failure to substantially perform his or her duties with the Company and its Affiliates as determined by the Committee; (ii) the Participant is convicted of or pleads guilty or
nolo contendere (or any similar plea or admission) to any felony or any act of fraud, misappropriation or embezzlement; (iii) the Participant’s willful engagement in conduct (other than conduct covered under clause (i) above) which,
in the good faith judgment of the Committee, is injurious to the Company and/or its Affiliates, monetarily or otherwise; or (iv) the Participant’s material violation of Company or Affiliate policy, the terms of this Plan or breach of any
applicable noncompetition, confidentiality, or other restrictive covenant with respect to the Company or any of its Affiliates (including, without limitation, the restrictive covenants contained in Section 4 of this Plan). 

f. “Change of Control Plans” shall mean the Genworth Financial, Inc. Amended and Restated 2005 Change of Control Plan and the
Genworth Financial, Inc. 2011 Change of Control Plan. 
 g. “Code” shall mean the Internal Revenue Code of 1986, as
amended. 
 h. “Committee” shall mean the Management Development and Compensation Committee of the Board, or such
other committee appointed or designated by the Board from time to time to administer the Plan. Notwithstanding the 

  
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foregoing, if no Committee exists which has the authority to administer the Plan, the functions of the Committee shall be exercised by the Board, and all references herein to the Committee shall
be deemed to be references to the Board. 
 i. “Company” shall mean Genworth Financial, Inc., a Delaware corporation,
and any successor thereto as provided in Section 12. 
 j. “Director” shall mean any individual who is a member
of the Board. 
 k. “Disability” shall mean a permanent disability that would make the Participant eligible for
benefits under the long-term disability program maintained by the Company or any of its Affiliates (without regard to any time period during which the disability condition must exist) or in the absence of any such program, such meaning as the
Committee shall determine. 
 l. “Effective Date” shall mean October 31, 2012. 

m. “ERISA” shall mean the Employee Retirement Income Security Act of 1974, as amended from time to time. 

n. “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended from time to time, or any successor act thereto.

 o. “Good Reason” shall mean (i) relocation of the Participant’s principal business location to an area
outside a 100 mile radius of its current location; or (ii) any material reduction in the Participant’s Base Salary or Bonus, and/or any failure to timely pay any part of the Participant’s compensation when due (including Base Salary
and Bonus) or any benefits due under any benefit plan, program or arrangement; provided, however, that Company-initiated reductions in compensation affecting substantially all U.S.-based Company employees shall not alone be considered Good Reason,
unless the compensation reductions exceed fifteen percent (15%) of pay (Base Salary plus Bonus); provided that any event described in clauses (i) or (ii) above shall constitute Good Reason only if the Company fails to rescind
or remedy such event within 30 days after receipt from the Participant of written notice of the event which constitutes Good Reason; provided, further, that Good Reason shall cease to exist for an event or condition described in
clauses (i) or (ii) above on the 90th day following its occurrence, unless the Participant has given the Company written notice thereof prior to such date. 
 For purposes of determining the amount of any cash payment payable to the Participant in accordance with the provisions of Section 3(a), any reduction in compensation or benefits that would
constitute Good Reason hereunder shall be deemed not to have occurred. 
 p. “Omnibus Plans” shall mean the 2004
Genworth Financial, Inc. Omnibus Incentive Plan and the 2012 Genworth Financial, Inc. Omnibus Incentive Plan, each as amended from time to time, or any successor plan providing for the grant or award of equity-based compensation to the
Company’s employees, officers and directors. 

  
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 q. “Participant” shall mean each key employee of the Company or any of its
Affiliates who has: (i) been selected by the Committee in its sole discretion and designated in writing as eligible for participation herein, and (ii) signed an acknowledgment and consent letter agreeing to the terms and conditions set
forth in the Plan. The Company will review the list of Participants on a periodic basis, and may (i) add Participants at its discretion, and (ii) remove Participants, subject to Section 11. 

r. “Plan” shall mean the Genworth Financial, Inc. 2012 Key Employee Severance Plan, as may be amended from time to time.

 s. “Qualified Termination” shall mean a termination of the Participant’s employment by the Company
(i) without Cause (including a job loss due to any reduction in the work force, but excluding termination of employment due to the Participant’s death or Disability), or (ii) by the Participant for Good Reason. Notwithstanding the
foregoing, a Qualified Termination shall not include a termination of employment in connection with the sale or disposition of a Company business segment or division for which the Participant was primarily performing services, provided that the
Participant is offered a position with the purchaser or successor to such business segment or division (and which does not constitute “Good Reason”). 
 t. “Severance Benefits” shall mean the severance benefits described in Section 3(a). 
 u. “Tier I Employees” shall mean the employees determined by the Committee from time to time to be Tier I Employees and identified as such in the records of the Plan maintained by the Company at
any time during the term of the Plan. 
 v. “Tier II Employees” shall mean the employees determined by the Committee
from time to time to be Tier II Employees and identified as such in the records of the Plan maintained by the Company at any time during the term of the Plan. 
 w. “Tier III Employees” shall mean the employees determined by the Committee from time to time to be Tier III Employees and identified as such in the records of the Plan maintained by the
Company at any time during the term of the Plan. 
 3. Benefits. 

a. Severance Benefits. Subject to Sections 4, 5, 6 and 10, if the Participant has a Qualified Termination as defined in
Section 2(s), the Participant shall be eligible to receive the following benefits: 
 i. a lump sum cash payment of accrued
but unpaid salary and accrued but unused vacation as of the Participant’s date of termination (net of applicable taxes and withholdings), payable within 15 days following the date of termination; 

ii. if the date of termination occurs during the second half of the Company’s fiscal year, a lump sum cash payment (net of
applicable taxes and 

  
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withholdings) based on the Participant’s annual bonus that would have been payable with respect to the fiscal year in which the Qualified Termination occurs (determined at the end of such
year based on actual performance results through the end of such year), prorated to the nearest half-month to reflect the portion of the fiscal year that had elapsed prior to the Participant’s date of termination, and payable at the same time
as annual bonuses are payable to other employees of the Company (for the avoidance of doubt, if the date of termination occurs during the first half of the Company’s fiscal year, the Participant shall not be entitled to any prorated annual
bonus); 
 iii. a lump sum cash payment (net of applicable taxes and withholdings), payable within 60 days following the
Participant’s date of termination, based on the Participant’s participation level under the Plan as of the Participant’s date of termination, as follows: 
  

	 	A.	Tier I Employees: 2.0 times Base Salary, plus 2.0 times Bonus; or 

  

	 	B.	Tier II Employees: 1.0 times Base Salary, plus 1.0 times Bonus; or 

  

	 	C.	Tier III Employees: 1.0 times Base Salary; 

 iv. a lump sum cash payment (net of applicable taxes and withholdings), payable within 60 days following the Participant’s date of termination, equal to the monthly cost to provide group medical,
dental, vision and/or prescription drug plan benefits sponsored by the Company and maintained by the Participant as of the date of the Participant’s termination of employment, multiplied by a number of months equal to (i) twelve (12), in
the case of Tier I and Tier II Employees, or (ii) six (6), in the case of Tier III Employees. For purposes of this Section 3(a)(iv), the cost of such benefits will be calculated based on the “applicable premium” determined in
accordance with Code Section 4980B(f)(4) and the regulations issued thereunder (less the 2% administrative fee and less the active-employee rate for such coverage) for the year in which the termination of employment occurs; 

v. stock options, stock appreciation rights (SARs), restricted stock units (RSUs) and other stock awards granted under the Omnibus Plans
and held by a designated executive officer of the Company who is a Tier I Employee or a Tier II Employee shall become immediately vested as of the date of such Participant’s Qualified Termination but only with respect to the number of awards
that otherwise would have become vested on the award’s next regularly scheduled vesting date based on continued employment; 
 vi. any stock options and SARs that are vested (or become vested) and unexercised as of the date of the Qualified Termination and are held by a Participant shall expire on the earlier of (i) the one-
year anniversary of the Qualified Termination, or (ii) their regular termination date; provided, however, that if the Participant dies before the earlier of such dates, then the stock options and SARs that are vested and
unexercised as of the Qualified Termination shall not expire until twenty-four (24) months after the date of the Participant’s death; and 

  
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 vii. With respect to either (i) a Tier I Employee, or (ii) a Tier II or Tier III
Employee who has attained age 50 or has greater than 20 years of Company-recognized service with the Company as of the Qualified Termination, full and immediate vesting of any supplemental pension benefit under any funded or unfunded nonqualified
pension or deferred compensation plan now or hereafter maintained by the Company in which the Participant participates, with payment to be made at such time and in accordance with the terms of such plan(s). 

b. Death Benefits. If a Participant has a Qualified Termination, but subsequently dies before receiving the Severance Benefits,
such benefits will be paid to the Participant’s estate as soon as practicable after his or her death. 
 c.
Non-Duplication of Benefits. In the event that a Participant becomes entitled to receive Severance Benefits under this Plan and may also be eligible for benefits under any other Company plan, program, arrangement or agreement as a result of
the Participant’s termination of employment, the Participant shall be entitled to receive the greater of the benefits available under the Plan, on the one hand, and the benefits available under such other plan, program, arrangement or
agreement, on the other, but not both. For the avoidance of doubt, if a Participant is entitled to receive Severance Benefits under this Plan, he or she will not be eligible to receive any payment of benefits under the Company’s Layoff Payment
Plan. Conversely, if a Participant is entitled to receive Severance Benefits under the Company’s Change of Control Plans, he or she will not be eligible to receive any payments or benefits under this Plan. 

4. Restrictive Covenants. 
 a. Confidential Information and Confidentiality. In connection with his or her employment with the Company, the Participant previously executed a Conditions of Employment acknowledgment obligating
the Participant to comply with the terms of the Company’s Proprietary Information and Inventions Agreement (“PIIA”), which is incorporated herein by reference. The Participant acknowledges and reaffirms his obligation to comply with
the terms of the PIIA. This Plan is not intended to, and does not, alter either the Company’s rights or the Participant’s obligations under the PIIA or any state or federal statutory or common law regarding trade secrets and unfair trade
practices. Anything herein to the contrary notwithstanding, the Participant shall not be restricted from disclosing information that is required to be disclosed by law, court order or other valid and appropriate legal process; provided, however,
that in the event such disclosure is required by law, the Participant shall provide the Company with prompt notice of such requirement so that the Company may seek an appropriate protective order prior to any such required disclosure by the
Participant. Unless otherwise publicly disclosed by the Company, the Participant agrees to keep his or her participation in this Plan strictly confidential and agrees not to disclose it to any person at any time, other than the Participant’s
family or legal and financial advisors who shall be subject to the same confidentiality provisions. 

  
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 b. Non-Disparagement. Subject to any obligations the Participant may have under
applicable law, the Participant will not make or cause to be made any statements that disparage, are inimical to, or damage the reputation of the Company or any of its affiliates, subsidiaries, agents, officers, directors or employees. In the event
such a communication is made to anyone, including but not limited to the media, public interest groups and publishing companies, it will be considered a material breach of the terms of the Plan. 

c. Non-Solicitation of Customers or Clients by Participants. Unless waived in writing by the Senior Vice President, Human
Resources (or his successor), the Participant shall not, directly or indirectly, while employed and during the (i) 24-month period commencing upon the Participant’s termination of employment for any reason, in the case of a Tier I or Tier
II Employee, or (ii) 12-month period commencing upon a Qualified Termination, in the case of a Tier III Employee, solicit or contact, directly or indirectly, the trade or patronage of any of the customers or clients of the Company with whom the
Participant had material contact during his employment, regardless of the location of such customers or clients of the Company with respect to any services, products, or other matters in which the Company is active. 

d. Non-Solicitation of Company Employees. Unless waived in writing by the Senior Vice President, Human Resources (or his
successor), the Participant shall not, directly or indirectly, while employed and during the (i) 24-month period commencing upon the Participant’s termination of employment for any reason, in the case of a Tier I or Tier II Employee, or
(ii) 12-month period commencing upon a Qualified Termination, in the case of a Tier III Employee, solicit or attempt to entice away from the Company any director, agent or employee of the Company. 

e. Remedies. If a Participant breaches any of the provisions of this Section 4, the Participant will be required to reimburse
the Company for any and all Severance Benefits provided under the terms of the Plan (other than those that were already vested without respect to the Plan) and all commitments to make additional payments to the Participant will be null and void, and
the Company shall have the right to seek other appropriate relief (including any equitable remedy to which the Company may be entitled), including attorneys’ fees incurred by the Company in enforcing the provisions of this Section 4.

 5. No Duty to Mitigate/Set-off. No Participant entitled to receive Severance Benefits hereunder shall be required to seek other
employment or to attempt in any way to reduce any amounts payable to him or her pursuant to this Plan. Further, the amount of Severance Benefits payable hereunder shall not be reduced by any compensation earned by the Participant as a result of
employment by another employer or otherwise. Except as provided herein, the amounts payable hereunder shall not be subject to setoff, counterclaim, recoupment, defense or other right which the Company may have against the Participant or others. In
addition, if any termination payments made to a Participant by the Company are related to an actual or potential liability under the 

  
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Worker Adjustment and Retraining Notification Act (WARN) or similar law, such amounts shall reduce (offset) the Participant’s Severance Benefit under this Plan. In the event of the
Participant’s breach of any provision hereunder, including without limitation, Sections 4, 5 or 6, the Company shall be entitled to recover any payments previously made to the Participant hereunder. 

6. Release Required. Any amounts payable pursuant to this Plan (except for any payment pursuant to Section 3(a)(i) of the Plan) shall only be
payable if the Participant executes, delivers to the Company and does not revoke a full general release of all claims of any kind whatsoever that the Participant has or may have against the Company and its Affiliates and their officers, directors
and employees, known or unknown, arising on or before the date on which the Participant executes such release (other than claims to payments specifically provided hereunder, claims under COBRA, claims to vested accrued benefits under the
Company’s tax-qualified employee benefit plans, claims for reimbursement under the Company’s medical reimbursement program for any unreimbursed medical expenses incurred on or before the Participant’s date of termination, claims for
unreimbursed business expenses in accordance with the Company’s policy or rights of indemnification or contribution to which the Participant was entitled under the Company’s By-laws, the Company’s Certificate of Incorporation or
otherwise with regard to the Participant’s service as an employee, officer or director of the Company, or claims that the Participant cannot by law release) in a form acceptable to the Company. Such release must be executed and all revocation
periods shall have expired within 60 days after the Participant’s date of termination; failing which such payment or benefit shall be forfeited. If such payment or benefit constitutes non-exempt deferred compensation for purposes of
Section 409A of the Code, and if such 60-day period begins in one calendar year and ends in the next calendar year, the payment or benefit shall not be made or commence before the second such calendar year, even if the release becomes
irrevocable in the first such calendar year.
 7. Funding. Participants shall have no right, title, or interest whatsoever in or to any
investments that the Company and/or its Affiliates may make to aid it in meeting its obligations under the Plan. Nothing contained in the Plan, and no action taken pursuant to its provisions, shall create or be construed to create a trust of any
kind, or a fiduciary relationship between the Company and any Participant, beneficiary, legal representative, or any other person. To the extent that any person acquires a right to receive payments from the Company under the Plan, such right shall
be no greater than the right of an unsecured general creditor of the Company. All payments to be made hereunder shall be paid from the general funds of the Company and no special or separate fund shall be established and no segregation of assets
shall be made to assure payment of such amounts except as expressly set forth in the Plan. 
 8. Administration of the Plan. 

a. Plan Administrator. The administrator of the Plan shall be the Committee. 

b. Authority of the Committee. Subject to the terms of the Plan, the Committee shall have full discretion and authority to
determine a Participant’s participation and benefits under the Plan and to interpret and construe the provisions of the Plan. 

  
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 c. Delegation of Authority. The Committee may delegate any and all of its powers and
responsibilities hereunder to other persons. Any such delegation shall not be effective until it is accepted by the persons designated and may be rescinded at any time by written notice from the Committee to the person to whom the delegation is
made. 
 d. Retention of Professional Assistance. The Committee may employ such legal counsel, accountants and other
persons as may be required in carrying out its duties and responsibilities in connection with the Plan. 
 e. Claims/Disputes
Procedure. 
 i. Prior to paying any benefit under the Plan, the Committee may require the Participant to provide such
information or material as the Company, in its sole discretion, shall deem necessary for it to make any determination it may be required to make under the Plan. The Committee may withhold payments of any benefit under the Plan until it receives all
such information and material and is reasonably satisfied of its accuracy. 
 ii. Claims for benefits under the Plan should be
forwarded to the Committee. The Committee shall provide adequate notice in writing to a Participant whose claim for benefits is denied, setting forth the specific reasons for such denial. In the event of the denial of a claim, the Participant has
the right to file a written request for a review of the denial with the Committee within 90 days after the Participant receives written notice of the denial. The Committee will conduct a full and fair review of the claim for benefits. The Committee
will deliver to the Participant a written decision on that claim within 60 days after the receipt for review, unless there are special circumstances requiring an extension of time for processing, the 60-day period may be extended up to 120 days.

 iii. All acts and decisions of the Committee shall be final and binding upon the Participant. 

f. Indemnification. The Committee, its members and any person designated pursuant to Section 8(d) above shall not be liable
for any action or determination made in good faith with respect to the Plan. The Company shall, to the extent permitted by law, by the purchase of insurance or otherwise, indemnify and hold harmless each member of the Committee and each director,
officer and employee of the Company for liabilities or expenses they and each of them incur in carrying out their respective duties under this Plan, other than for any liabilities or expenses arising out of such individual’s willful misconduct
or fraud. 
 9. Continuance of Welfare Benefits Upon Death. If the Participant dies while receiving a welfare continuation benefit
provided under Section 3(a)(vi) of the Plan, the Participant’s spouse and other dependents will continue to be covered under all 

  
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applicable welfare plans during the remainder of the respective coverage period. The Participant’s spouse and other dependents will become eligible for COBRA continuation coverage for health
and dental benefits at the end of such period. 
 10. Code Section 409A. 

a. Notwithstanding anything in this Plan to the contrary, to the extent that any amount or benefit that would constitute non-exempt
“deferred compensation” for purposes of Section 409A of the Code would otherwise be payable or distributable hereunder by reason of a Participant’s termination of employment, such amount or benefit will not be payable or
distributable to the Participant by reason of such circumstance unless (i) the circumstances giving rise to such termination of employment meet any description or definition of “separation from service” in Section 409A of the
Code and applicable regulations (without giving effect to any elective provisions that may be available under such definition), or (ii) the payment or distribution of such amount or benefit would be exempt from the application of
Section 409A of the Code by reason of the short-term deferral exemption or otherwise. This provision does not prohibit the vesting of any amount upon a termination of employment, however defined. If this provision prevents the payment or
distribution of any amount or benefit, such payment or distribution shall be made on the date, if any, on which an event occurs that constitutes a Section 409A-compliant “separation from service.” 

b. Notwithstanding anything in this Plan to the contrary, if any amount or benefit that would constitute non-exempt “deferred
compensation” for purposes of Section 409A of the Code would otherwise be payable or distributable under this Plan by reason of a Participant’s separation from service during a period in which he is a Specified Employee (as defined
below), then, subject to any permissible acceleration of payment by the Company under Treas. Reg. Section 1.409A-3(j)(4)(ii) (domestic relations order), (j)(4)(iii) (conflicts of interest), or (j)(4)(vi) (payment of employment taxes):

 (i) if the payment or distribution is payable in a lump sum, the Participant’s right to receive payment
or distribution of such non-exempt deferred compensation will be delayed until the earlier of the Participant’s death or the first business day of the seventh month following the Participant’s separation from service; and 

(ii) if the payment or distribution is payable over time, the amount of such non-exempt deferred compensation that would
otherwise be payable during the six-month period immediately following the Participant’s separation from service will be accumulated and the Participant’s right to receive payment or distribution of such accumulated amount will be delayed
until the earlier of the Participant’s death or the first day of the seventh month following the Participant’s separation from service, whereupon the accumulated amount will be paid or distributed to the Participant and the normal payment
or distribution schedule for any remaining payments or distributions will resume. 

  
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 For purposes of this Plan, the term “Specified Employee” has the meaning given such term in Code
Section 409A and the final regulations thereunder (“Final 409A Regulations”), provided, however, that, as permitted in the Final 409A Regulations, the Company’s Specified Employees and its application of the six-month
delay rule of Code Section 409A(a)(2)(B)(i) shall be determined in accordance with rules adopted by the Company, which shall be applied consistently with respect to all nonqualified deferred compensation arrangements of the Company, including
this Plan. 
 11. Duration, Amendment and Termination. The Plan shall become effective as of the Effective Date, and shall continue in
effect until December 31, 2014. The Company reserves the right to amend in any respect any or all of the provisions of this Plan at any time; provided, however, that the Company may not amend the Plan in any way that would adversely
affect the rights of Participants without the consent of each Participant so affected, except where any such amendment may be required in order to comply with any applicable law or regulation. Subject to the following sentence, removal of a
Participant as a Participant (other than as a result of the Participant ceasing to be an employee under circumstances in which he or she would not be entitled to Severance Benefits under the terms of the Plan) or any reduction in payments or
benefits shall be deemed to be an amendment of the Plan which adversely affects the rights of the Participant. Notwithstanding the preceding sentence, in the event the Committee determines in good faith that a Participant has willfully engaged in
conduct that is detrimental to the Company or constitutes a material violation of Company or Affiliate policy, or otherwise has consistently and substantially failed to perform his or her duties with the Company and/or its Affiliates, the Committee
may remove such Participant as a Participant under the Plan, and such individual shall thereafter have no further rights to participate in the Plan or receive any Severance Benefits under the Plan. 

12. Successors. All obligations of the Company under the Plan 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. In any such event, the term “Company”, as used in this Plan, shall
mean the Company, as hereinbefore defined and any successor or assignee to the business or assets which by reason hereof becomes bound by the terms and provisions of this Plan. 
 13. Miscellaneous. 
 a. Rights of Participants. Nothing herein
contained shall be held or construed to create any liability or obligation upon the Company to retain any Participant in its service. All Participants shall remain subject to discharge or discipline to the same extent as if this Plan had not been
put into effect. 
 b. Governing Law. The Plan shall be governed by the laws of the Commonwealth of Virginia, excluding
any conflicts or choice of law rule or principle that might otherwise refer construction or interpretation of the Plan to the substantive law of another jurisdiction. 

  
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 c. Withholding. The Company shall have the right to make such provisions as it deems
necessary or appropriate to satisfy any obligations it may have to withhold federal, state or local income or other taxes incurred by reason of payments pursuant to this Plan. 
 d. Severability. In case any provision of this Plan be deemed or held to be unlawful or invalid for any reason, such fact shall not adversely affect the other provisions of this Plan unless such
determination shall render impossible or impracticable the functioning of this Plan, and in such case, an appropriate provision or provisions shall be adopted so that this Plan may continue to function properly. 

e. Assignment and Alienation. The benefits payable to the Participant under the Plan shall not be subject to alienation, transfer,
assignment, garnishment, execution or levy of any kind and any attempt to cause any benefits to be so subjected shall not be recognized. 
 f. Communications. All announcements, notices and other communications regarding this Plan will be made by the Company in writing. 

g. ERISA Plan. The Plan is intended to be a “top hat” welfare benefit plan within the meaning of U.S. Department of
Labor Regulation § 2520.104-24. 
 14. Entire Agreement. This Plan sets forth the entire understanding of the Company with respect
to the subject matter hereof. 

  
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