As a condition to receiving a benefit under the Severance Plan, an eligible participant will be required to sign a release addressing certain promises and covenants pertaining to their employment with DallasNews Corporation. Each participant will have a period of time specified by the Committee to consider the severance benefit available under the Severance Plan, as well as the terms of the release. The Severance Plan and the release require that any dispute or controversy arising under or in connection with the release be settled exclusively by arbitration.

Severance benefits will be paid to eligible participants in a cash lump sum within 10 business days (or at such earlier time as required by applicable law) following the later of the participant’s termination of employment or the effective date of the release.

You are not required to seek other employment or to attempt in any way to reduce any amounts payable to you pursuant to the Severance Plan in order to receive severance benefits. Further, the amount of the severance benefit will not be reduced by any compensation earned as a result of employment by another employer or otherwise. The amount of the severance benefits under the Severance Plan will satisfy DallasNews Corporation’s obligation to make any payments otherwise due under the Worker Adjustment and Retraining Notification Act (WARN) or similar law.