On June 27, 2019, we issued a press release announcing Terence R. Rogers was resigning as our Executive Vice President and Chief Financial Officer. The effective date of Mr. Rogers’ resignation was August 30, 2019. On August 30, 2019, we and Mr. Rogers entered into a Separation Agreement and Release (the “Separation Agreement”). The Separation Agreement provides that, if Mr. Rogers does not revoke his acceptance of the Separation Agreement within the applicable seven-day revocation period, (a) Mr. Rogers will receive his base salary for a period of twelve (12) months and (b) Mr. Rogers will receive a lump sum payment equal to twelve (12) times the monthly COBRA premium that would be necessary to permit him to continue group insurance coverage under our plans for such 12-month period. The Separation Agreement contains a release that is binding upon Mr. Rogers.

The foregoing is a summary only and does not purport to be a complete description of all of the terms, provisions, covenants and agreements contained in the Separation Agreement, and is subject to and qualified in its entirety by reference to the complete text of the Separation Agreement, a copy of which will be filed as an exhibit to the Company’s Quarterly Report on Form 10-Q for the quarter ending September 30, 2019.