Document:

exv10w1

 

Exhibit 10.1

EMPLOYMENT SEPARATION AGREEMENT

     This EMPLOYMENT SEPARATION AGREEMENT (this “Agreement”) is made by and between Healthaxis,
Ltd., a Texas limited partnership (the “Company”) and an indirect wholly owned subsidiary of
HealthAxis Inc., a Pennsylvania corporation (the “Parent”), and Lawrence F. Thompson (“Thompson”),
as of the 10th day of March, 2008.

     WHEREAS, Healthaxis and Thompson are parties to that certain Employment Agreement dated as of
May 13, 2005, as amended by that Certain First Amendment to Employment Agreement dated as of April
20, 2007 (collectively, the “Employment Agreement”) which sets forth, among other things, the terms
and conditions pursuant to which Healthaxis or its successor will continue to employ Thompson
and/or the amount of certain payments that would be made to Thompson upon certain events;

     WHEREAS, the Company and Thompson have mutually agreed to terminate the Employment Agreement
and Thompson’s employment with the Company on the terms provided in this Agreement.

     NOW, THEREFORE, for and in consideration of the mutual covenants and agreements contained
herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged and confessed, Healthaxis and Thompson do hereby agree as follows:

1. Termination of Employment Agreement and Thompson’s Employment. The Company and Thompson
hereby agree that effective as of March 10, 2008, the Employment Agreement is terminated and shall
be of no further force or effect, and this Agreement shall hereafter govern the relative rights,
duties and obligations of the parties. In addition, effective as of March 15, 2008 (the
“Termination Date”), Thompson’s employment with the Company is hereby terminated by mutual
agreement. Following the Termination Date, Thompson will cooperate with the Company regarding
outstanding business opportunities or issues to the extent reasonably requested by the Company.

2. Severance and Other Post-Termination Payments and Rights. Thompson will receive his
normal base salary through the Termination Date, and a maximum of 80 hours of accrued but unused
vacation pay per the standard vacation policy. In addition, Thompson will be entitled to receive
the following additional post-termination payments and benefits:

(a) Severance Pay. Thompson will be paid a total of $100,000 in severance payable
in twelve (12) equal semi-monthly installments of $8,333.33 beginning on March 31, 2008, and
continuing thereafter on the 15th and the last day of each month through the
final payment date on September 15, 2008. These severance payments will be subject to
normal tax withholding and for Thompson’s portion of the medical/dental benefits to the
extent continued under Subsection 2(c) below. Upon Thompson’s execution and delivery to
human resources of the appropriate election form, 401(k) plan deductions will no longer be
made;

EMPLOYMENT AGREEMENT — Page 1

 

 

(b) Final Commission Payment. On March 31, 2008, Thompson will receive a final
commission payment of $9,375 (subject to normal tax withholding). This negotiated payment
amount shall be final, and is in lieu of any other post-termination commissions and/or
accrued but unpaid minimum guaranteed commission or bonus due or to become due under the
Employment Agreement and/or the Company’s sales compensation plan. Thompson expressly
acknowledges and agrees that no other past or future bonuses or commissions are owed to him
or will be claimed by him on any basis.

(c) Benefits Continuation. The following benefits will be continued until the first
to occur of either (x) six (6) months from the Termination Date, or (y) the date Thompson
becomes eligible for a similar benefit offered through a subsequent employer:

(i) Health and Dental Insurance. To the extent permitted by the specific benefit
plan, Thompson will continue to be covered under the Company’s health and dental
plans to the extent of coverage on the Termination Date, and subject to the normal
withholding for an amount equal to the standard “employee contribution amount” for
the benefit coverage selected. To the extent the benefit plan does not permit the
Company to continue the coverage by virtue of Thompson no longer being an employee,
then Thompson may elect to continue coverage under COBRA and the Company will
reimburse Thompson for the amount of the COBRA premium that exceeds the standard
“employee contribution amount” for the benefit coverage selected; and

(ii) Life & AD&D Insurance. To the extent permitted by the specific benefit plan,
Thompson will continue to be covered under the Company’s basic life insurance and
accidental death and dismemberment plans to the extent of coverage on the
Termination Date at the Company’s cost. Thompson does not subscribe for any
supplemental life coverage. To the extent the benefit plan does not permit the
Company to continue the coverage by virtue of Thompson no longer being an employee,
then the coverage will not be continued beyond the Termination Date.

All other benefits will terminate in accordance with standard policies and practices as of
the Termination Date. For example, Company matching contributions in the 401(k) plan will
not be made on final commission payment, severance or other post termination payments.

(d) Stock Options. Thompson currently holds 50,000 stock options issued pursuant to
the Healthaxis Inc. 2000 Stock Option Plan with an exercise price of $1.80 per share. These
options have previously fully vested. Consistent with the original Employment Agreement and
the original option award, these options shall remain outstanding according to the original
terms and shall be exercisable for a period of thirty-six (36) months after the Termination
Date.

(e) Restricted Stock. Thompson currently holds 41,000 shares of restricted stock
issued pursuant to the Healthaxis Inc. 2005 Stock Incentive Plan, of which 6,250 shares have
previously vested. Consistent with the original Employment Agreement and the original
restricted stock award, all of the remaining 34,750 shares of restricted stock will become
fully vested as of the Termination Date, and Thompson shall make a tax election regarding
this vesting in accordance with the Company’s standard procedure.

EMPLOYMENT SEPARATION AGREEMENT — Page 2

 

 

(f) Final Expenses. Thompson shall be entitled to reimbursement for all Company
business expenses incurred in the normal course prior to the Termination Date. In addition,
the Company will reimburse Thompson for (x) his local apartment rent for the months of April
through June 2008, (y) his local auto lease for the months of April through May 2008, plus
ordinary and reasonable lease termination fees, and his local furniture lease for the months
of April through May 2008. The standard March 2008 living expense reimbursement will also
apply. Thompson shall be solely responsible for giving adequate written notice of
termination of each of these leases, and the Company will not be responsible for rents,
lease payments, fees or expenses except as expressly provided above related to these leases
or any other personal contractual obligations of Thompson. The Company will also reimburse
Thompson’s airfare and reasonable living expenses incurred for up to two (2) additional
trips to Dallas from his home in California to wind up his local affairs after his regular
commute on March 14, 2008. All requests for reimbursement shall be submitted according to
the Company’s current expense reimbursement practices. To the extent any of these expense
reimbursements are taxable to Thompson, then the standard tax gross up amount will also be
paid consistent with past practices.

(g) Cell Phone. Thompson’s cell phone and existing number will be transferred into
a personal account in Thompson’s name. The Company will cooperate with Thompson in
attempting to transfer the account on or before April 15, 2008.

3. Non-Compete. In consideration of the Company’s obligations and payments to be made under
Section 2 above, Thompson hereby agrees that during the period beginning on the Termination Date
and ending twelve (12) months thereafter (the “Covered Time”), Thompson will not compete with the
business of the Company. For purposes hereof, “competition” shall mean any engaging, directly or
indirectly, in the “Covered Business” (as hereinafter defined) in any state of the United States of
America (the “Covered Area”). For purposes of this Agreement, “Covered Business” shall mean
providing health insurance administration and claims processing systems and front-end claim
scanning and data capture systems and services to the Healthcare payer market consisting of
insurance companies and third party administrators. For purposes of this Section 3, the phrase
“engaging, directly or indirectly” shall mean engaging directly or having an interest, directly or
indirectly, as owner, partner, shareholder, agent, representative, employee, officer, director,
independent contractor, capital investor, lender, renderer of consultation services or advice or
otherwise (other than as the holder of less than 2% of the outstanding stock of a publicly-traded
corporation), either alone or in association with others, in the operation of any aspect of any
type of business or enterprise engaged in the Covered Business. The Company acknowledges and
agrees that nothing contained in this Agreement shall be construed to prohibit Thompson from
performing the following business, activities, functions, or services during the Covered Time

(a) As an independent consultant to third party administrators, technology vendors
or insurance payers in a manner substantially the same as Thompson engaged in
immediately prior to joining the Company on June 1, 2005;

(b) Owning, operating or employed by a third party administrator, insurance company,
stop loss company, insurance agency, consulting firm, or other insurance enterprise;
or

EMPLOYMENT SEPARATION AGREEMENT — Page 3

 

 

(c) Employment with any technology or services vendor that provides systems or
services that are ancillary to or used in combination with core claims,
administration and front end services.

     Thompson understands that the provisions of this Section 3 may limit his ability to earn a
livelihood in a business similar to the business of the Company but nevertheless agrees and hereby
acknowledges that the restrictions and limitations thereof are reasonable in scope, area, and
duration, are reasonably necessary to protect the goodwill and business interests of the Company,
and that the consideration provided under this Agreement is sufficient to justify the restrictions
contained in such provisions. Accordingly, in consideration thereof and in light of the Thompson’s
education, skills and abilities, Thompson agrees that he will not assert that, and it should not be
considered that, such provisions are either unreasonable in scope, area, or duration, or will
prevent him from earning a living, or otherwise are void, voidable, or unenforceable or should be
voided or held unenforceable.

4. Non-Solicitation. In consideration of the Company’s obligations and payments to be made
under Section 2 above, Thompson hereby agrees that during the Covered Time, he shall not (i)
directly or indirectly solicit or attempt to solicit any of the employees, agents, independent
contractors, or representatives of the Company or its affiliates to leave any of such entities; or
(ii) directly or indirectly solicit or attempt to solicit any of the employees, agents, independent
contractors or representatives of the Company or its affiliates to become employees, agents,
representatives or independent contractors of any other person or entity.

5. Protection of Confidential Information; Non-Disparagement. Thompson shall hold in a
fiduciary capacity for the benefit of the Company all confidential information, knowledge or data
relating to the Company or any of its affiliated companies, and their respective businesses, which
was obtained by Thompson during the his employment by the Company. Thompson agrees that he will
not, without the prior written consent of the Company or as may otherwise be required by law or
legal process, communicate or divulge any such information, knowledge or data to anyone other than
the Company and those designated by it, or otherwise use or exploit such information on behalf of
himself or any third party. Thompson and the Company agree that each will not make any public or
private statements, comments, or communications about each other, including the Company or its
officers, directors or employees, that could constitute disparagement or that may be considered to
be derogatory or detrimental to the good name or business reputation of Thompson or the Company or
such officers, directors or employees.

6. Enforcement. Thompson agrees that the covenants and undertakings contained in Sections
3, 4 and 5 of this Agreement relate to matters which are of a special, unique and extraordinary
character and that the Company may not be reasonably or adequately compensated in damages in an
action at law in the event Thompson breaches any of these covenants or undertakings. Therefore,
Thompson agrees that the Company shall be entitled, as a matter of course, without the need to
prove irreparable injury, to an injunction, restraining order or other equitable relief from any
court of competent jurisdiction, restraining any violation or threatened violation of any of such
terms by Thompson and such other persons as the court shall order. Thompson agrees to pay costs
and legal fees incurred by the Company in obtaining such injunction. Rights and remedies provided
for in this Section 6 are cumulative and shall be in addition to rights and remedies otherwise
available to the parties under any other agreement or applicable law. In the event that any
provision of this Agreement shall to any extent be held

EMPLOYMENT SEPARATION AGREEMENT — Page 4

 

 

invalid, unreasonable or unenforceable in any circumstances, the parties hereto agree that the
remainder of this Agreement and the application of such provision of this Agreement to other
circumstances shall be valid and enforceable to the fullest extent permitted by law. If any
provision of this Agreement, or any part thereof, is held to be unenforceable because of the scope
or duration of or the area covered by such provision, the parties hereto agree that the court or
arbitrator making such determination shall reduce the scope, duration and/or area of such provision
(and shall substitute appropriate provisions for any such unenforceable provisions) in order to
make such provision enforceable to the fullest extent permitted by law, and/or shall delete
specific words and phrases, and such modified provision shall then be enforceable and shall be
enforced. The parties hereto recognize that if, in any judicial proceeding, a court shall refuse
to enforce any of the separate covenants contained in this Agreement, then that unenforceable
covenant contained in this Agreement shall be deemed eliminated from these provisions to the extent
necessary to permit the remaining separate covenants to be enforced. In the event that any court
or arbitrator determines that the time period or the area, or both, are unreasonable and that any
of the covenants is to that extent unenforceable, the parties hereto agree that such covenants will
remain in full force and effect, first, for the greatest time period, and second, in the greatest
geographical area that would not render them unenforceable.

     7. Mutual Release. In consideration of the covenants and agreements contained herein,
including the Company’s obligations and payments to be made under Section 2 above, Thompson on
behalf of himself, and his respective heirs, executors, administrators, affiliates, successors and
assigns, hereby releases, acquits, and forever releases and discharges the Company and the Parent
and each of their former and present agents, directors, officers, stockholders, employees,
servants, parent, affiliates, owners, subsidiaries, divisions, successors, predecessors and assigns
(all such entities and individuals hereinafter collectively referred to as the “Released Parties”)
of and from any and all claims, actions, causes of action, demands, rights, damages, debts,
compensation, costs, or other expenses, including without limitation attorneys’ fees, of any nature
whatsoever, whether known or unknown, which Thompson ever had, now has, or which he, his heirs,
executors, administrators, successors and assigns hereafter can, shall or may have against the
Released Parties arising out of any matter, cause, acts, conduct, claims or events, including but
not limited to, each and every claim, demand or cause of action which Thompson ever had or now has
arising out of the Employment Agreement or Thompson’s association or employment with Released
Parties, as an employee, officer, independent contractor or consultant, or the cessation thereof,
and any written or oral representations made to Thompson thereby, and any federal, state, or local
statute, rule, regulation or principle of common law, including, but not limited to, any claims
under Title VII of the Civil Rights Act of 1964, as amended, 42 U.S.C. §§ 2000e et seq.; the Age
Discrimination in Employment Act (and Older Worker Benefits Protection Act), as amended, 29 U.S.C.
§§ 621 et seq.; the Americans with Disabilities Act, 42 U.S.C. §§ 12101 et seq.; the Employee
Retirement Income Security Act of 1974, as amended, 29 U.S.C. §§ 1001 et seq.; or under any other
federal, state or local statute, rule or regulation or principle of employment or contract law.

     Thompson acknowledges and agrees that he has had an opportunity to participate in and review
all strategic discussions and activity of the Company and the Parent regarding their exploration of
strategic alternatives and that he has made the decision to proceed to enter into this Agreement at
this time without reliance on any representation or warranty by the Released Parties regarding the
status or likely outcome or timing of the ongoing strategic activities.

EMPLOYMENT SEPARATION AGREEMENT — Page 5

 

 

Thompson also acknowledges and agrees that he has no right to participate in any executive
compensation plan or equity awards for 2008 that may be approved on or after the Termination Date.
Thompson agrees that the release contained in this Section 7 includes a full release of any and all
claims actions, causes of action, demands, rights, damages, compensation, or other benefits that
Thompson may now or hereafter have or claim to have arising out of or based on the relative timing
of the entry into this Agreement with the timing of the consummation of a strategic transaction by
the Released Parties or the establishment or approval of any compensation plan or equity awards to
Company executives for 2008.

     In consideration of the covenants and agreements contained herein, the Company on behalf of
itself and all its affiliates constituting the Released Parties, and their successors and assigns,
hereby releases, acquits, and forever releases and discharges Thompson of and from any and all
claims, actions, causes of action, demands, rights, damages, debts, compensation, costs, or other
expenses, including without limitation attorneys’ fees, of any nature whatsoever, whether known or
unknown, which any such parties ever had, now has, or which they or their successors and assigns
hereafter can, shall or may have against Thompson arising out of any matter, cause, acts, conduct,
claims or events, including but not limited to, each and every claim, demand or cause of action
which they ever had or now has arising out of the Employment Agreement or Thompson’s association or
employment with Released Parties, as an employee, officer, independent contractor or consultant, or
the cessation thereof, and any written or oral representations made to them by Thompson, and any
federal, state, or local statute, rule, regulation or principle of common law or regulation or
principle of employment or contract law.

     Nothing contained in this Section 7 shall release, acquit, or discharge any claims, actions,
causes of action, demands, rights, damages, debts, compensation, costs, or other expenses,
including without limitation, attorneys’ fees, arising out of or relating to this Agreement.

8. Successors. This Agreement is personal to Thompson and without the prior written
consent of the Company shall not be assignable by Thompson otherwise than by will or the laws of
descent and distribution. This Agreement shall inure to the benefit of and be enforceable by
Thompson’s legal representatives. This Agreement shall inure to the benefit of and be binding upon
the Company and its successors and assigns. The Company will require any successor (whether direct
or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the
business and/or assets of the Company and/or the Parent to assume expressly and agree to perform
this Agreement in the same manner and to the same extent that the Company would be required to
perform it if no such succession had taken place. As used in this Agreement, “Company” shall mean
the Company as hereinbefore defined and any successor to its business and/or assets as aforesaid
which assumes and agrees to perform this Agreement by operation of law, or otherwise. 

EMPLOYMENT SEPARATION AGREEMENT — Page 6

 

 

9. Miscellaneous.

(a) Applicable Law. This Agreement shall be governed by and construed in accordance with
the laws of the State of Texas, without reference to principles of conflict of laws. The
captions of this Agreement are not part of the provisions hereof and shall have no force or
effect. This Agreement may not be amended or modified otherwise than by a written agreement
executed by the parties hereto or their respective successors and legal representatives.

(b) Notices. All notices and other communications hereunder shall be in writing and shall
be given by hand delivery to the other party or by registered or certified mail, return
receipt requested, postage prepaid, addressed as follows:

If to Thompson:

Lawrence F. Thompson

8282 N Fourth Street

Fresno CA 93720

With a copy to:

Brian J. Stack, Esq.

Stack Fernandez Anderson & Harris P.A.

1200 Brickell Avenue, Suite 950

Miami, Florida 33131

If to the Company:

Healthaxis, Ltd.

7301 N. State Highway 161, Suite 300

Irving, Texas 75039

           Attention: President

With Copy to:

Healthaxis, Inc.

7301 N. State Highway 161, Suite 300

Irving, Texas 75039

           Attention: General Counsel

or to such other address as either party shall have furnished to the other in writing in
accordance herewith. Notice and communications shall be effective when actually received by
the addressee.

EMPLOYMENT SEPARATION AGREEMENT — Page 7

 

 

(c) Withholding. The Company may withhold from any amounts payable under this Agreement
such Federal, state, local or foreign taxes as shall be required to be withheld pursuant to
any applicable law or regulation.

(d) Waiver. Thompson’s or the Company’s failure to insist upon strict compliance with any
provision of this Agreement or the failure to assert any right Thompson or the Company may
have hereunder shall not be deemed to be a waiver of such provision or right under this
Agreement, unless such waiver is expressly made in writing signed by the party waiving its
right hereunder.

(e) Entire Agreement. Thompson and the Company acknowledge that this Agreement constitutes
the entire agreement between them and shall supersede any other agreement between the
parties with respect to the subject matter hereof.

     IN WITNESS WHEREOF, the parties are executing this Agreement to be effective as of the day and
year first above written.

	 	 	 	 	 
	 	THOMPSON:

 	 
	 	/s/Lawrence F. Thomspon
 	 
	 	Lawrence F. Thompson 	 
	 	 	 
	 
	 	HEALTHAXIS:

Healthaxis, Ltd.

 	 
	 	By:  	/s/John M. Carradine
 	 
	 	 	John M. Carradine 	 
	 	 	Its: President & CEO 	 
	 

EMPLOYMENT SEPARATION AGREEMENT — Page 8exv10w15

 

EXHIBIT
10.15

Endwave Corporation

EXECUTIVE OFFICER SEVERANCE AND RETENTION PLAN

Section 1. Introduction.

     The purpose of this Plan is to encourage Eligible Executive Officers to remain as valued
employees of the Company. This Plan supersedes any other severance or incentive benefit plan,
policy or practice maintained by the Company, other than the Company’s the Company’s Key Employee
Severance and Retention Plan. This Plan amends and restates, and supersedes in its entirety, the
Company’s “Officer Retention Plan” dated March 31, 2000 and amended March 5, 2002.

     This Plan was adopted by the Board of Directors of the Company. This Plan is effective June
5, 2003 and was amended July 21, 2005 and February 28, 2008. Some of the capitalized terms used
in this Plan document are defined in Section 6 of this Plan. This Plan document is also the
Summary Plan Description for the Plan.

Section 2. Eligibility For Benefits.

     (a) General Provisions. An Eligible Executive Officer will be eligible to receive Severance
Benefits under this Plan in the event his or her employment with the Company is (a) terminated by
the Company for a reason other than Cause or (b) voluntarily terminated by the Eligible Executive
Officer for Good Reason within 30 days after the occurrence of the circumstances giving rise to
Good Reason during the term of this Plan or within six months following any Change in Control that
occurs during the term of this Plan. An Eligible Executive Officer will be eligible to receive
Retention Benefits under this Plan if (1) the Eligible Executive Officer is employed by the Company
upon the occurrence of any Change in Control that occurs during the term of this Plan or (2) his or
her employment is terminated by the Company without Cause in connection with, and prior to, such
Change in Control. Notwithstanding the foregoing, in the event a Board Composition Change occurs,
an Eligible Executive Officer will be eligible to receive Retention Benefits under this Plan even
if he or she is not so employed upon the occurrence of a Change in Control, as long as he or she
was employed by the Company immediately prior to such Board Composition Change. In order to be
eligible to receive Benefits under this Plan, an Eligible Executive Officer must execute a general
waiver and release in the form attached as Exhibit A (for employees age 40 and over at the time of
execution) or Exhibit B (for employees under the age of 40 at the time of execution) prior to the
payment of such Benefits.

     (b) Exceptions.

          (1) An Eligible Executive Officer will not be entitled to receive Severance Benefits if he or
she has a separate agreement with the Company providing for any severance benefits upon his or her
termination of employment with the Company; provided, however, that the Eligible Executive Officer
may, by irrevocable written notice to the Plan Administrator prior

1.

 

to the payment of any Severance Benefits under this Plan or such separate agreement, elect to
receive the Severance Benefits provided under this Plan in lieu of the corresponding benefits under
such separate agreement. Except to the extent an Eligible Executive Officer with a separate
severance agreement makes such an election, such Eligible Executive Officer’s severance benefits,
if any, will be governed solely by the terms of such separate agreement.

          (2) An Eligible Executive Officer will not be entitled to receive Retention Benefits if he or
she has a separate agreement with the Company providing for any benefits occurring upon a Change in
Control (other than pursuant to the Company’s Transaction Incentive Plan); provided, however, that
the Eligible Executive Officer may, by irrevocable written notice to the Plan Administrator prior
to the payment of any Retention Benefits under this Plan or such separate agreement, elect to
receive the Retention Benefits provided under this Plan in lieu of the corresponding benefits under
such separate agreement. Except to the extent an Eligible Executive Officer with a separate
change-in-control agreement makes such an election, such Eligible Executive Officer’s retention
benefits, if any, will be governed solely by the terms of such separate agreement.

          (3) An Eligible Executive Officer will not be entitled to any Benefits if his or her
employment with the Company is terminated for Cause at any time.

          (4) An Eligible Executive Officer will not be entitled to any Severance Benefits if his or her
employment is voluntarily terminated for a reason other than Good Reason or is terminated by reason
of his or her death, retirement, failure to return from a leave of absence or disability.

Section 3. Amount Of Benefit.

     (a) Retention Benefits. An Eligible Executive Officer’s Retention Benefit will be the
acceleration of vesting of all stock options granted to the Eligible Executive Officer by the
Company as provided in this Section 3(a). Upon a Change in Control, each such option automatically
will become exercisable (without right of repurchase) for that number of shares equal to the number
of shares that would be purchasable under the option (without right of repurchase) at the end of
the period beginning upon such Change in Control and ending on the date specified in the following
table if the Eligible Executive Officer were employed by the Company or its successor at the end of
such period:

	 	 	 
	Title of Eligible Executive Officer	 	 
	upon Change in Control	 	Acceleration Period
	Chief Executive Officer

	 	Greater of (a) 24 months and (b) 4
months for each full year of
employment by the Company
	 
	 	 
	Executive Vice President

	 	Greater of (a) 18 months and (b) 3
months for each full year of
employment by the Company
	 
	 	 
	Senior Vice President

	 	No acceleration

     (b) Severance Benefits. An Eligible Executive Officer’s Severance Benefits will be the
benefits set forth in paragraphs (1) through (5) below.

          (1) The Company will continue payment of the Eligible Executive Officer’s base salary (and not
commissions, bonuses or other variable pay) for the period of time after termination of employment
determined in accordance with the following table:

2.

 

	 	 	 	 	 
	 	 	Salary Continuation Period
	 	 	Termination Occurs	 	Termination Occurs
	 	 	in Connection with,	 	Prior to, and not in
	Title of Eligible Executive Officer upon 	 	or Six Months after,	 	Connection with, a
	Termination of Employment	 	Change in Control	 	Change in Control
	Chief Executive Officer

	 	Greater of (a) 24
months and (b) 4
months for each full
year of employment
by the Company
	 	Greater of (a) 12
months and (b) 2
months for each full
year of employment
by the Company
	 
	 	 	 	 
	Executive Vice President

	 	Greater of (a) 18
months and (b) 3
months for each full
year of employment
by the Company
	 	Greater of (a) 9
months and (b) 1.5
months for each full
year of employment
by the Company
	 
	 	 	 	 
	Senior Vice President

	 	Greater of (a) 20
weeks and (b) 4
weeks for each full
year of employment
by the Company and
any business
acquired by the
Company in which
carryover credit
with respect to
employee benefits
was given, up to a
maximum of 8 years
of service
	 	No benefit payable

          (2) If the Eligible Executive Officer is, immediately prior to termination of employment,
enrolled in the Company’s health and/or dental plan, the Company will pay the COBRA premiums for
such medical and/or dental insurance coverage for the Eligible Executive Officer and his or her
then-covered dependents for the period of time following termination of employment determined in
accordance with the following table:

	 	 	 
	Title of Eligible Executive Officer	 	 
	upon Termination of Employment	 	COBRA Benefits Period
	Chief Executive Officer

	 	Greater of (a) 12 months and (b) 2
months for each full year of
employment by the Company
	 
	 	 
	Executive Vice President

	 	Greater of (a) 9 months and (b)
1.5 months for each full year of
employment by the Company
	 
	 	 
	Senior Vice President

	 	Greater of (a) 20 weeks and (b) 4
weeks for each full year of
employment by the Company and any
business acquired by the Company
in which carryover credit with
respect to employee benefits was
given, up to a maximum of 8 years
of service

No provision of this Plan will affect the continuation coverage rules under COBRA, except that the
Company’s payment of any applicable premiums during the COBRA benefits period set forth in the
foregoing table will be credited as payment by the Eligible Executive Officer for purposes of his
or her payment required under COBRA. The period during which an Eligible Executive Officer must
elect to continue the Company’s group medical or dental coverage at his or her own expense under
COBRA, the length of time during which COBRA coverage will be made available to the Eligible
Executive Officer, and all other rights and obligations of the Eligible Executive Officer under
COBRA (except the obligations of the Company hereunder) will be applied in the same manner that
such rules apply in the absence of this Plan. At the conclusion of the COBRA benefits period set
forth in the foregoing table, the Eligible Executive Officer will be responsible for the entire
payment of premiums required under COBRA for the remainder of the COBRA period, if any. All other
benefits (such as life insurance and disability coverage) terminate as of the employee’s
termination date, except to the extent that any conversion privilege is available thereunder.

3.

 

          (3) The automatic vesting in full of all stock options granted to the Eligible Executive
Officer by the Company prior to March 31, 2000 upon termination of employment.

          (4) The acceleration of vesting of all stock options granted to the Eligible Executive Officer
by the Company on or after March 31, 2000, as provided in this paragraph (4). Upon termination of
employment, each such option automatically will become exercisable (without right of repurchase)
for that number of shares equal to the number of shares that would be purchasable under the option
(without right of repurchase) at the end of the period beginning upon termination of employment and
ending on the date specified in the following table if the Eligible Executive Officer were employed
by the Company or its successor at the end of such period:

	 	 	 
	Title of Eligible Executive Officer	 	 
	upon Termination of Employment	 	Acceleration Period
	Chief Executive Officer

	 	Greater of (a) 24 months and (b) 4
months for each full year of
employment by the Company
	 
	 	 
	Executive Vice President

	 	Greater of (a) 18 months and (b) 3
months for each full year of
employment by the Company
	 
	 	 
	Senior Vice President

	 	No acceleration

In the event of a termination of employment in connection with, or within six months after, a
Change in Control, the acceleration of vesting provided by this paragraph (4) is intended to be in
addition to the acceleration of vesting that would have occurred upon the Change in Control
pursuant to Section 3(a).

     (c) Income Tax Liabilities and Withholding. All income tax liabilities with respect to
payments under this Plan will be solely those of the affected Eligible Executive Officer and not
the Company or any other party. The Company will have no obligation to structure Benefit payments
or otherwise administer this Plan in a manner as to reduce or eliminate such liabilities. Payments
under this Plan will be subject to withholdings and deductions as may be required by law.

     (d) Certain Tax Provisions Affecting Amount of Payments. Anything in this Plan to the
contrary notwithstanding, in the event it is determined that any payment by the Company to an
Eligible Executive Officer hereunder (a “Payment”) would cause the Eligible Executive Officer to be
liable for an excise tax pursuant to Section 4999 of the Code, then the aggregate present value of
all amounts payable as Benefits shall be reduced to the Reduced Amount. The “Reduced Amount” will
be an amount, expressed in present value, that maximizes the aggregate present value of Benefits
without causing any Payment to create an excise tax liability under Section 4999 of the Code. For
purposes of this Section 3(d), present value will be determined in accordance with Section
280G(d)(4) of the Code.

Section 4. Time Of Payment; Right of Offset.

     (a) Time of Payment. Eligible Executive Officers will receive acceleration of vesting
Benefits upon a Change in Control (in the case of Retention Benefits) or upon termination of
employment (in the case of Severance Benefits). Salary continuation Benefit payments will be made,
at the option of the Plan Administrator, in a lump sum upon termination

4.

 

of employment or in accordance with the Company’s normal payroll payments. COBRA Benefit payments
will be made at times deemed appropriate by the Plan Administrator. Notwithstanding any of the
foregoing, no Benefit payment will be made, and no Benefit will be effective, under this Plan prior
to the last day of any waiting period or revocation period as required by applicable law in order
for the general waiver and release required by Section 2(a) of this Plan to be effective.

     (b) Right of Offset. If an Eligible Executive Officer is indebted to the Company at the time
any cash Benefits are payable, the Company reserves the right to offset any such Benefits under
this Plan by the amount of such indebtedness.

Section 5. Right To Interpret, Amend and Terminate Plan; Other Arrangements; Binding
Nature Of Plan.

     (a) Exclusive Discretion. The Plan Administrator will have the exclusive discretion and
authority (1) to establish rules, forms and procedures for the administration of this Plan, (2) to
construe and interpret this Plan and (3) to decide any and all questions of fact, interpretation,
definition, computation or administration arising in connection with the operation of this Plan
including, but not limited to, the eligibility to participate in this Plan and the amount of
benefits paid under this Plan. Such rules, interpretations, computations and other actions of the
Plan Administrator will be binding and conclusive on all persons.

     (b) Term Of Plan; Amendment Or Termination; Binding Nature Of Plan.

          (1) Subject to the provisions of Section 5(b)(2), this Plan will be effective until six months
after the first Change in Control has occurred; provided, however, that the Company’s obligations
to provide Benefits hereunder shall survive until all such Incentive Benefits have been paid.

          (2) This Plan may not be amended without the written consent of the Plan Administrator and
each Eligible Executive Officer affected by such amendment. This Plan will constitute a
contractual right to the benefits to which such Eligible Executive Officer is entitled hereunder,
enforceable by the Eligible Executive Officer against the Company.

          (3) Any action amending or terminating this Plan will be in writing and executed by an officer
of the Company duly authorized by the Plan Administrator and any Eligible Executive Officers whose
consent is required.

     (c) Other Severance and Retention Arrangements. The Company reserves the right to make other
arrangements regarding severance and retention benefits in special circumstances.

     (d) Binding Effect On Successor To Company. This Plan will be binding upon any successor to
or assignee of the Company or its business or assets, whether direct or indirect, by Change in
Control or otherwise. Any such successor or assignee will be required to perform the Company’s
obligations under this Plan. In such event, the term “Company,” as used in this Plan, will mean
the Company as hereinafter defined and any successor or assignee as described above which by reason
hereof becomes bound by the terms and provisions of this Plan.

5.

 

Section 6. Definitions.

     Capitalized terms used in this Plan have the following meanings:

     (a) Benefits means Retention Benefits and Severance Benefits.

     (b) Board Composition Change means the occurrence of a change in the Board of Directors of the
Company in which the individuals who constituted the Board of Directors of the Company at the
beginning of the two-year period immediately preceding such change (together with any other
director whose election by the Board of Directors of the Company or whose nomination for election
by the stockholders of the Company was approved by a vote of a majority of the directors then in
office either who were directors at the beginning of such period or whose election or nomination
for election was previously so approved) cease for any reason to constitute a majority of the
directors then in office.

     (c) Cause means misconduct, including but not limited to: (1) conviction of any felony or any
crime involving moral turpitude or dishonesty; (2) participation in a fraud or act of dishonesty
against the Company; (3) any conduct that, based upon a good faith and reasonable factual
investigation and determination by the Company’s Board of Directors, demonstrates a gross unfitness
to serve; (4) any conduct that, based upon a good faith and reasonable factual investigation and
determination by the Company’s Board of Directors, consists of willful and repetitive acts having
the effect of injuring the business or reputation of the Company or any of its affiliates; or (5)
intentional, material violation of any contract between the Company and an Eligible Executive
Officer or any statutory duty owed by an Eligible Executive Officer to the Company that is not
corrected within 30 days after written notice to the Eligible Executive Officer. A physical or
mental disability will not constitute “Cause.”

     (d) Change in Control means any of the following:

          (1) a merger or consolidation of the Company after which the Company’s stockholders
immediately prior to the merger or consolidation do not have beneficial ownership of at least 50%
of the outstanding voting securities of the new or continuing entity or its parent entity (taking
into account only such stockholders’ ownership of the Company prior to such merger or consolidation
and not any other ownership of the new or continuing entity or its parent entity);

          (2) a transaction or series of related transactions to which the Company is a party and in
which a majority of the outstanding shares of the Company’s capital stock are sold, exchanged or
otherwise disposed of, after which the Company’s stockholders immediately prior to the first of
such transactions do not have beneficial ownership of at least 50% of the outstanding voting
securities of the Company or of the entity for which shares of the Company’s capital stock were
exchanged (in either such case, taking into account only such stockholders’ ownership of the
Company prior to the time such transaction or transactions commenced and not any other ownership of
any entity for which shares of the Company’s capital stock were exchanged); and

          (3) a transaction or series of related transactions in which the Company sells, licenses or
otherwise transfers for value all or substantially all of its assets to a single purchaser or group
of associated purchasers.

6.

 

     (e) Code means the Internal Revenue Code of 1986, as may be amended from time to time.

     (f) Company means Endwave Corporation, a Delaware corporation, and any successor as provided
in Section 5(d) of this Plan.

     (g) Eligible Executive Officer means each individual notified in writing by the Plan
Administrator that he or she is an Eligible Key Employee under this Plan.

     (h) Good Reason means, with respect to an Eligible Executive Officer:

          (1) a material reduction in the Eligible Executive Officer’s rate of compensation (base salary
and bonus target), except a reduction applicable proportionally to all Eligible Executive Officers;

          (2) a substantial diminution in the Eligible Executive Officer’s job responsibilities and
authority (but not merely title) with respect to the Company;

          (3) a requirement that the Eligible Executive Officer relocate to a worksite that is more than
50 miles from his or her prior worksite;

          (4) failure or refusal of any successor to the Company to assume the Company’s obligations
under this Plan; or

          (5) material breach by the Company or any successor to the Company of any material provisions
of this Plan.

     (i) Payment has the meaning given to such term in Section 3(d) of this Plan.

     (j) Plan means this Endwave Corporation Executive Officer Severance and Retention Plan.

     (k) Plan Administrator means the Compensation Committee of the Board of Directors of the
Company.

     (l) Plan Sponsor means the Company as “Plan Sponsor” within the meaning of ERISA.

     (m) Reduced Amount has the meaning given to such term in Section 3(d) of this Plan.

     (n) Retention Benefits means the benefits calculated pursuant to Section 3(a) of this Plan.

     (o) Severance Benefits means the benefits calculated pursuant to Section 3(b) of this Plan.

Section 7. No Implied Employment Contract.

7.

 

     This Plan does not give any employee or other person any right to be retained in the employ of
the Company. The Company’s right to discharge any employee or other person at any time and for any
reason is hereby reserved.

Section 8. Legal Construction.

     This Plan is intended to be governed by and will be construed in accordance with the Employee
Retirement Income Security Act of 1974, as amended (“ERISA”), and, to the extent not preempted by
ERISA, the laws of the State of California.

Section 9. Claims, Inquiries And Appeals.

     (a) Applications For Benefits And Inquiries. Any application for benefits, inquiries about
the Plan or inquiries about present or future rights under the Plan must be submitted to the Plan
Administrator in writing. The Plan Administrator is the named fiduciary charged with the
responsibility for administering the Plan.

     (b) Denial Of Claims. In the event that any application for benefits is denied in whole or in
part, the Plan Administrator must notify the applicant, in writing, of the denial of the
application, and of the applicant’s right to review the denial. The written notice of denial will
be set forth in a manner designed to be understood by the employee, and will include specific
reasons for the denial, specific references to the Plan provision upon which the denial is based, a
description of any information or material that the Plan Administrator needs to complete the review
and an explanation of the Plan’s review procedure. This written notice will be given to the
employee within 90 days after the Plan Administrator receives the application, unless special
circumstances require an extension of time, in which case, the Plan Administrator has up to an
additional 90 days for processing the application. If an extension of time for processing is
required, written notice of the extension will be furnished to the applicant before the end of the
initial 90-day period. This notice of extension will describe the special circumstances
necessitating the additional time and the date by which the Plan Administrator is to render its
decision on the application. If written notice of denial of the application for benefits is not
furnished within the specified time, the application will be deemed to be denied. The applicant
will then be permitted to appeal the denial in accordance with the Review Procedure described
below.

     (c) Request For A Review. Any person (or that person’s authorized representative) for whom an
application for benefits is denied (or deemed denied), in whole or in part, may appeal the denial
by submitting a request for a review to the Plan Administrator within 60 days after the application
is denied (or deemed denied). The Plan Administrator will give the applicant (or his or her
representative) an opportunity to review pertinent documents in preparing a request for a review.
A request for a review must be in writing and addressed to:

Endwave Corporation

Attn: Plan Administrator for the

Executive Officer Severance and Retention Plan

130 Baytech Drive

San Jose, CA 95134

8.

 

A request for review must set forth all of the grounds on which it is based, all facts in support
of the request and any other matters that the applicant feels are pertinent. The Plan
Administrator may require the applicant to submit additional facts, documents or other material as
it may find necessary or appropriate in making its review.

     (d) Decision On Review. The Plan Administrator will act on each request for review within 60
days after receipt of the request, unless special circumstances require an extension of time (not
to exceed an additional 60 days), for processing the request for a review. If an extension for
review is required, written notice of the extension will be furnished to the applicant within the
initial 60-day period. The Plan Administrator will give prompt, written notice of its decision to
the applicant. In the event that the Plan Administrator confirms the denial of the application for
benefits in whole or in part, the notice will outline, in a manner calculated to be understood by
the applicant, the specific Plan provisions upon which the decision is based. If written notice of
the Plan Administrator’s decision is not given to the applicant within the time prescribed in this
paragraph (d), the application will be deemed denied on review.

     (e) Rules And Procedures. The Plan Administrator will establish rules and procedures,
consistent with the Plan and with ERISA, as necessary and appropriate in carrying out its
responsibilities in reviewing benefit claims. The Plan Administrator may require an applicant who
wishes to submit additional information in connection with an appeal from the denial (or deemed
denial) of benefits to do so at the applicant’s own expense.

     (f) Exhaustion Of Remedies. No legal action for benefits under the Plan may be brought until
the claimant (1) has submitted a written application for benefits in accordance with the procedures
described by Section 9(a) above, (2) has been notified by the Plan Administrator that the
application is denied (or the application is deemed denied due to the Plan Administrator’s failure
to act on it within the established time period), (3) has filed a written request for a review of
the application in accordance with the appeal procedure described in Section 9(c) above and (4) has
been notified in writing that the Plan Administrator has denied the appeal (or the appeal is deemed
to be denied due to the Plan Administrator’s failure to take any action on the claim within the
time prescribed by Section 9(d) above).

Section 10. Basis Of Payments To And From Plan.

     All benefits under the Plan will be paid by the Company. The Plan will be unfunded, and
benefits hereunder will be paid only from the general assets of the Company.

Section 11. Other Plan Information.

     (a) Employer And Plan Identification Numbers. The Employer Identification Number assigned to
the Company (which is the “Plan Sponsor” as that term is used in ERISA) by the Internal Revenue
Service is 95-4333817. The Plan Number assigned to the Plan by the Plan Sponsor pursuant to the
instructions of the Internal Revenue Service is 5-15.

     (b) Ending Date For Plan’s Fiscal Year. The date of the end of the fiscal year for the
purpose of maintaining the Plan’s records is December 31.

9.

 

     (c) Agent For The Service Of Legal Process. The agent for the service of legal process with
respect to the Plan is the Chairman of the Compensation Committee, Endwave Corporation,130 Baytech
Drive, San Jose, CA 95134.

Section 12. Statement Of Erisa Rights.

     Participants in this Plan (which is a welfare benefit plan sponsored by Endwave Corporation)
are entitled to certain rights and protections under ERISA. Each Eligible Executive Officer is
considered a participant in the Plan and, under ERISA, is entitled to:

     (a) Examine, without charge, at the Plan Sponsor’s office and at other specified locations,
such as work sites, all Plan documents and copies of all documents filed by the Plan with the U.S.
Department of Labor, such as detailed annual reports;

     (b) Obtain copies of all Plan documents and Plan information upon written request to the Plan
Administrator. The Plan Administrator may make a reasonable charge for the copies;

     (c) Receive a summary of the Plan’s annual financial report, in the case of a plan which is
required to file an annual financial report with the Department of Labor. (Generally, all pension
plans and welfare plans with 100 or more participants must file these annual reports.)

     In addition to creating rights for Plan participants, ERISA imposes duties upon the people
responsible for the operation of the employee benefit plan. The people who operate the Plan,
called “fiduciaries” of the Plan, have a duty to do so prudently and in the interest of Plan
participants and beneficiaries.

     No one may fire a Plan participant or otherwise discriminate against a Plan participant in any
way to prevent him or her from obtaining a Plan benefit or exercising his or her rights under
ERISA. If a claim for a Plan benefit is denied in whole or in part, the Plan participant must
receive a written explanation of the reason for the denial. A Plan participant has the right to
have the Plan review and reconsider his or her claim.

     Under ERISA, there are steps a Plan participant can take to enforce the above rights. For
instance, if he or she requests materials from the Plan and does not receive them within 30 days,
he or she may file suit in a federal court. In such a case, the court may require the Plan
Administrator to provide the materials and pay the Plan participant up to $100 a day until he or
she receives the materials, unless the materials were not sent because of reasons beyond the
control of the Plan Administrator. If the Plan participant has a claim for benefits that is denied
or ignored, in whole or in part, he or she may file suit in a state or federal court. If it should
happen that the Plan fiduciaries misuse the Plan’s money, or if a Plan participant is discriminated
against for asserting his or her rights, he or she may seek assistance from the U.S. Department of
Labor, or may file suit in a federal court. The court will decide who should pay court costs and
legal fees. If the Plan participant is successful, the court may order the person sued to pay
these costs and fees. If the Plan participant loses, the court may order the participant to pay
these costs and fees, for example, if it finds his or her claim is frivolous.

     Questions about the Plan should be directed to the Plan Administrator. Questions about a Plan
participant’s rights under ERISA should be directed to the nearest area office of the U.S. Labor -
Management Services Administration, Department of Labor.

10.

 

Section 13. Execution.

     To record the adoption of this Plan as set forth herein, effective as of the date first set
forth above, the Company has caused its duly authorized officer to execute the same as of the date
first set forth above.

	 	 	 	 	 
	 	Endwave Corporation

 	 
	 	By:  	/s/ Edward A. Keible, Jr.
 	 
	 	 	Edward A. Keible, Jr. 	 
	 	 	Chief Executive Officer 	 

 

 

	 	 	 	 	 

[For Employees Age 40 and Older]

Exhibit A

RELEASE AGREEMENT

     I understand and agree completely to the terms set forth in the                 Plan (the “Plan”).

     I understand that this Release Agreement, together with the Plan, constitutes the complete,
final and exclusive embodiment of the entire agreement between Endwave Corporation (the “Company”)
and me with regard to the subject matter hereof. I am not relying on any promise or representation
by the Company that is not expressly stated therein. Certain capitalized terms used in this
Release Agreement are defined in the Plan.

     I hereby acknowledge my continuing obligations not to use or disclose confidential or
proprietary information of the Company without prior written authorization from a duly authorized
representative of the Company.

     Except as otherwise set forth in this Release Agreement, in consideration of the benefits I
will receive under the Plan, I hereby generally and completely release the Company and its parents,
subsidiaries, successors, predecessors and affiliates, and its and their partners, members,
directors, officers, employees, stockholders, shareholders, agents, attorneys, predecessors,
insurers, affiliates and assigns, from any and all claims, liabilities and obligations, both known
and unknown, that arise out of or are in any way related to events, acts, conduct, or omissions
occurring at any time prior to and including the date I sign this Release Agreement. This general
release includes, but is not limited to: (a) all claims arising out of or in any way related to my
employment with the Company or the termination of that employment; (b) all claims related to my
compensation or benefits, including salary, bonuses, commissions, vacation pay, expense
reimbursements, severance pay, fringe benefits, stock, stock options, or any other ownership
interests in the Company; (c) all claims for breach of contract, wrongful termination, and breach
of the implied covenant of good faith and fair dealing; (d) all tort claims, including claims for
fraud, defamation, emotional distress, and discharge in violation of public policy; and (e) all
federal, state, and local statutory claims, including claims for discrimination, harassment,
retaliation, attorneys’ fees, or other claims arising under the federal Civil Rights Act of 1964
(as amended), the federal Americans with Disabilities Act of 1990 (as amended), the federal Age
Discrimination in Employment Act (as amended) (“ADEA”), the federal Employee Retirement Income
Security Act of 1974 (as amended), and the California Fair Employment and Housing Act (as amended).
Provided, however, that nothing in this paragraph shall be construed in any way to release the
Company from any obligation it may have to indemnify me pursuant to agreement or applicable law.

     I acknowledge that I am knowingly and voluntarily waiving and releasing any rights I may have
under the ADEA, and that the consideration given under the Plan for the waiver and release in the
preceding paragraph hereof is in addition to anything of value to which I was

1

 

already entitled. I further acknowledge that I have been advised by this writing, as required
by the ADEA, that: (a) my waiver and release do not apply to any rights or claims that may arise
after the date I sign this Release Agreement; (b) I should consult with an attorney prior to
signing this Release Agreement (although I may choose voluntarily not to do so); (c) I have 21 [or
45, if more than one employee over 40 is terminated] days to consider this Release Agreement
(although I may choose voluntarily to sign this Release Agreement earlier); (d) I have seven days
following the date I sign this Release Agreement to revoke the Release Agreement by providing
written notice to an office of the Company; and (e) this Release Agreement shall not be effective
until the date upon which the revocation period has expired, which shall be the eighth day after I
sign this Release Agreement.

     I acknowledge that I have read and understand Section 1542 of the California Civil Code which
reads as follows: “A general release does not extend to claims which the creditor does not know or
suspect to exist in his favor at the time of executing the release, which if known by him must have
materially affected his settlement with the debtor.” I hereby expressly waive and relinquish all
rights and benefits under that section and any law of any jurisdiction of similar effect with
respect to my release of any claims hereunder.

	 	 	 	 	 
	 	Employee Name (print):

 	 
	 	 	 
	 
	 	Signature: 	 	 
	 
	 	Date: 	 	 
	 

2

 

	 	 	 	 	 

[For Employees Under Age 40]

Exhibit B

RELEASE AGREEMENT

     I understand and agree completely to the terms set forth in the                 Plan (the “Plan”).

     I understand that this Release Agreement, together with the Plan, constitutes the complete,
final and exclusive embodiment of the entire agreement between Endwave Corporation (the “Company”)
and me with regard to the subject matter hereof. I am not relying on any promise or representation
by the Company that is not expressly stated therein. Certain capitalized terms used in this
Release Agreement are defined in the Plan.

     I hereby acknowledge my continuing obligations not to use or disclose confidential or
proprietary information of the Company without prior written authorization from a duly authorized
representative of the Company.

     Except as otherwise set forth in this Release Agreement, in consideration of the benefits I
will receive under the Plan, I hereby generally and completely release the Company and its parents,
subsidiaries, successors, predecessors and affiliates, and its and their partners, members,
directors, officers, employees, stockholders, shareholders, agents, attorneys, predecessors,
insurers, affiliates and assigns, from any and all claims, liabilities and obligations, both known
and unknown, that arise out of or are in any way related to events, acts, conduct, or omissions
occurring at any time prior to and including the date I sign this Release Agreement. This general
release includes, but is not limited to: (a) all claims arising out of or in any way related to my
employment with the Company or the termination of that employment; (b) all claims related to my
compensation or benefits, including salary, bonuses, commissions, vacation pay, expense
reimbursements, severance pay, fringe benefits, stock, stock options, or any other ownership
interests in the Company; (c) all claims for breach of contract, wrongful termination, and breach
of the implied covenant of good faith and fair dealing; (d) all tort claims, including claims for
fraud, defamation, emotional distress, and discharge in violation of public policy; and (e) all
federal, state, and local statutory claims, including claims for discrimination, harassment,
retaliation, attorneys’ fees, or other claims arising under the federal Civil Rights Act of 1964
(as amended), the federal Americans with Disabilities Act of 1990 (as amended), the federal Age
Discrimination in Employment Act (as amended), the federal Employee Retirement Income Security Act
of 1974 (as amended), and the California Fair Employment and Housing Act (as amended). Provided,
however, that nothing in this paragraph shall be construed in any way to release the Company from
any obligation it may have to indemnify me pursuant to agreement or applicable law.

     I acknowledge that I have read and understand Section 1542 of the California Civil Code which
reads as follows: “A general release does not extend to claims which the creditor does not know or
suspect to exist in his favor at the time of executing the release, which if known by him must have
materially affected his settlement with the debtor.” I hereby expressly

 

 

waive and relinquish all rights and benefits under that section and any law of any jurisdiction of
similar effect with respect to my release of any claims hereunder.

     I acknowledge that the Release Agreement will become effective only if I sign and return it to
the Company so that it is received not later than 15 days following the date of my employment
termination.

	 	 	 	 	 
	 	Employee Name (print):

 	 
	 	 	 
	 
	 	Signature: 	 	 
	 
	 	Date:

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