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It sounds like you were "managed out the door." The first move was to try to make you miserable hoping that you would leave on your own. The second move was to find a "neutral" reason to let you go to reduce the likelihood that you would litigate the termination.
This happens very often with long term high paid middle managers. There are two reasons for this 1) You cost too much money and 2) you are a threat to the managers immediately above you because you are knowledgeable and capable.
This does not mean that you do not have options. Because you are over 40 and a women you meet two categories of a protected class.
This means it is worth your while to file an age and gender discrimination complaint with the EEOC and your State's Human Relations Commission. It costs nothing to file the complaint. If the agency discovers that your job duties still exist and a younger person is performing the duties you may very well find that you have an action.
Also the agency can provide mediation services so that you may be able to negotiate a better severance, or perhaps even a return to work.
Also note that you can usually file a "dual complaint" with your state agency. Most State discrimination agencies have an agreement with the EEOC so that your complaint with the State is forwarded to the EEOC.
Please do not be to overly concerned about any clause in the Severance Agreement that prohibits you from filing a complaint or suing. The Courts rarely enforce those clauses because they are viewed as violating public policy.
Lastly, you may wish to meet with a local discrimination attorney to assess your situation. Most will meet with you at no cost to assess your case. The laws on these issue provide for the violator to pay attorney's fees. So it is worth calling an attorney or two.
If you let me know which state you are in I will try to link you to your State's agency regarding discrimination complaints and link you to a resource that can help you find local counsel.
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Please note: Information given is not legal advice. Only your local attorney can give legal advice. I can't establish or accept an attorney-client relationship with you. All posts are available for public viewing.