Two principals resigned from L. F. Rothschild.

The investment firm L. F. Rothschild, Unterberg, Towbin Holdings Inc. formally announced the resignations Thomas I. Unterberg, who had been chairman and chief executive, and A. Robert Towbin, who was a vice chairman. Unterberg and Towbin will receive severence payments of $1.67 million and $1.34 million respectively, the firm said. In addition, both executives will sell their stock in L. F. Rothschild to the company for $13 a share, with Unterberg receiving $7.98 million for his 613,979 shares, and Towbin receiving $5.59 million for his 429,787 shares. L. F. Rothschild had announced Tuesday that the men were leaving because of a dispute over the firm’s strategic direction.