What happens if:
1) I purchase Episode 1
2) I later decide that I would like to purchase the season pass
Is the price of the season pass reduced by the amount I paid for Episode 1?
Nothing has been decided about that, yet. Not that I have been informed.
However, the Season Pass is currently on sale - $24 at our store (http://www.shop.cognitiongame.com/), special offer includes the Soundtrack which usually goes for $9,99 by itself :)
As a big fan of the soundtrack myself, I'd say it's not a bad offer. It's only for a couple of days left though, until next Monday (January 1st), actually.