On July 5, 2012, ViewPoint Financial Group, Inc. entered into a general release with Mark E. Hord in accordance with the severance agreement between the bank and Mr. Hord dated as of January 1, 2011. Under the Release, Mr. Hord will continue to serve as Executive Vice President, General Counsel and Secretary of the company and the bank until July 31, 2012, to ensure a smooth transition of his responsibilities within the organization. In connection with Mr. Hord's resignation and in accordance with the agreement, for a period of one year following Mr. Hord's separation the bank will continue to pay his base salary, based on his annual base salary in effect on the resignation date ($237,003), and provide to him, at the bank's expense, the hospitalization, medical, dental, prescription drug and other health benefits required to be provided under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended from time to time.