Document:

Severance Agreement and Release between Louis T. Ruggiero and the Registrant

  
 Exhibit 10.10c

 CONFIDENTIAL 
 SEVERANCE AGREEMENT AND RELEASE 
 This Severance Agreement and
Release (“Agreement”) is made between Stereotaxis, Inc. (“Stereotaxis” or the “Company”), including its divisions, subsidiaries, parent and affiliated corporations, their successors and assigns (individually and
collectively “Stereotaxis” or the “Company”), and Lou Ruggiero with Employee’s heirs, executors, administrators, successors and assigns (“Employee”). 

WHEREAS, Stereotaxis and Employee (the “Parties”) entered into an Amended and Restated Employment Agreement dated on or about
August 6, 2009 (said agreement and any and all related agreements and amendments collectively, the “Employment Agreement”), and desire to terminate their employment relationship effective December 31, 2009 and settle all legal
rights and obligations resulting from Employee’s employment with Stereotaxis, except as set out in this Agreement. 
 NOW,
THEREFORE, in consideration of the foregoing and the mutual promises, representations and undertakings of the Parties set forth herein, the adequacy and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 

1. Termination Date. Employee’s employment with Stereotaxis will terminate based on mutual agreement and not for Cause, effective
December 31, 2009 (“Termination Date”). The Employment Agreement will remain in full force and effect until December 31, 2009 and Employee shall continue to provide services as directed by the President and CEO pursuant to the
Employment Agreement. 
 2. Compensation. In consideration for Employee’s execution of, and subject to the terms and
conditions of this Agreement and the Employment Agreement, the Parties agree as follows: 
  

	 	(a)	Severance. Notwithstanding anything in his Employment Agreement to the contrary, the “Severance Period” as defined in the Employment Agreement
will be twelve months, commencing on January 1, 2010 and terminating on December 31, 2010. Employee will receive payments in the amount of $25,000 per month during the Severance Period, (“Severance Payments”), for a total payment
of $300,000, less deductions required by law and any offsets required pursuant to Section 2(f) hereinbelow. Severance Payments will be payable in accordance with Stereotaxis’ normal payroll dates and will commence January 1, 2010.
Severance Payments do not include other amounts payable or offset under this Agreement. 

  

	 	(b)	Vacation. Within ten (10) days after the Termination Date, Employee will be paid $12,980.81 less deductions required by law, as the full and complete
payment of all remaining vacation hours and personal time earned but not used by Employee prior to the Termination Date. 

  

	 	(c)	Insurance. Stereotaxis will permit Employee to exercise Employee's COBRA conversion privileges as provided by law, effective January 1, 2010.
Stereotaxis will pay the cost under COBRA for continuing Employee's group medical and dental insurance from January 1, 2010 through December 31, 2010 as set out in the Employment Agreement and Employee’s regular monthly contribution
will be made by deduction from the severance payment. Thereafter, Employee shall be responsible to pay the cost to continue group medical insurance under COBRA. 

 

	 	(d)	Equity. Pursuant to the Stereotaxis 2002 Stock Incentive Plan all Employee Incentive Stock Options that have vested as of December 31, 2009 may be
exercised in accordance with the Employee's Incentive Stock Option Agreements, within ninety days after the effective date of termination of employment and will expire if not exercised. In addition, shares previously provided by Stereotaxis to
Employee in lieu of cash bonuses may be sold at any time. 

  

					
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 CONFIDENTIAL 

 

	 	(e)	Bonus. Pursuant to the Stereotaxis 2009 Annual Bonus Plan approved by the Compensation Committee of the Board of Directors, Employee may be eligible for a
Bonus as determined by the Compensation Committee based on the overall performance of the Company. The Bonus plan and determination of eligibility shall be the same for all senior executive employees, and the portion of any such bonus based on the
performance of the Company, if awarded to senior executive employees, will be paid to Employee when paid to senior executive employees, notwithstanding Employee’s date of termination. For purposes of determining the individual performance
portion of Employee’s bonus, the Employee’s award, like the individual performance portion of all senior executive employee awards, shall be based on his performance against his individual goals for 2009. 

 

	 	(f)	Conditions. Employee specifically acknowledges and agrees that i) the compensation and benefits described in this Section 2 are conditioned on his
compliance with this Agreement and the surviving terms and conditions of the Employment Agreement; ii) medical and dental benefits described in this Section 2 will terminate upon receipt of comparable benefits from another employer; and iii)
Severance Payments will be offset by the amount of $8,000 per month as the total offset for compensation Employee will receive during the Severance Period from other employers or as an independent contractor for other companies.

  

	 	(g)	Entire Compensation. The Parties agree that the compensation and benefits described in this Section 2 provided to Employee by Stereotaxis represent
additional compensation and benefits to which Employee would not be entitled absent the execution of this Agreement, and constitute the total compensation and benefits payable by Stereotaxis to Employee with regard to Employee’s employment by
Stereotaxis and its termination, and that no other compensation, commissions, bonuses, benefits or payments of any kind will be paid other than the amounts set forth above. 

 3. Employment References. Stereotaxis agrees that prospective employers who seek references on behalf of Employee will be directed to Mike Kaminski, CEO and David Giffin, VP Human Resources,
who shall provide references that are positive and who will confirm that Employee left the Company on amicable terms and in very high standing. 

4. Expense Reimbursement. Stereotaxis agrees to reimburse Employee for all documented business expenses incurred through the Termination
Date in accordance with Company policy. Such reimbursement payment shall be made to Employee within ten (10) days of submission of a final expense report. 
 5. Shipment of Personal Items from Office. To avoid the expense of Employee traveling to St. Louis, Stereotaxis agrees to pack, ship and insure at a collective contents value of $7,000 at
the Company’s expense all of the Employee’s personal items from his St. Louis office, including artwork, photographs, clothing and personal files in the possession of his Administrative Assistant, to Employee’s home in Phoenix within
ten (10) days after the execution of this Agreement. 
 6. Waiver and Release. Employee hereby waives and releases
Stereotaxis, its subsidiaries, related, parent and affiliated corporations and business entities, their successors and assigns, and their past and present officers, directors, shareholders, employees and agents (“the Employer Released
Parties”) from any and all claims made, to be made, or which might have been made of whatever nature, whether known or unknown, since the beginning of time through the date of this Agreement, including, but not limited to, any claim Employee
may have under any agreements which Employee may have with any of the Employer Released Parties, any claims that arose as a consequence of Employee’s employment by Stereotaxis, or arising out of the termination of the employment relationship,
or arising out of any acts committed or omitted during or after the existence of the employment relationship through the date of this Agreement. Such release and waiver of claims will include, but will not be limited to, those claims which were,
could have been, or could be the subject of an internal grievance or appeal procedure or an 

  

					
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 CONFIDENTIAL 

 

 
administrative or judicial proceeding filed either by Employee or on Employee's behalf under any federal, state or local law or regulation, any claim of discrimination under any state or federal
statute, regulation or ordinance including, but not limited to Titles 29 and 42 of the United States Code, Title VII of the Civil Rights Act of 1964, as amended, the Employee Retirement Income Security Act of 1974, as amended, the Civil Rights Act
of 1991, the Americans with Disabilities Act of 1990, the Civil Rights Act of 1866, the Rehabilitation Act of 1973, as amended, the Family and Medical Leave Act, the Older Worker Benefit Protection Act, the Arizona Civil Rights Act, the Missouri
Human Rights Act, City of St. Louis Ordinance 6271, any other federal, state or local law, ordinance or regulation regarding employment, discrimination in employment or termination of employment, any claims for breach of contract, wrongful
termination, promissory estoppel, detrimental reliance, negligent or intentional infliction of emotional distress, or any other actions at common law, in contract or tort, all claims for lost wages, bonuses, commissions, benefits, expenses,
severance, service letter, re-employment, compensatory or punitive damages, attorney's fees, and all claims for any other type of legal or equitable relief. Employee further waives all rights to future employment with Stereotaxis and agrees not to
apply for employment with Stereotaxis. This Release does not affect any vested rights Employee may have under any retirement or equity-related plan of Stereotaxis. 
 8. Covenant Not To Sue. Employee covenants not to sue or otherwise make any claims against Stereotaxis or any other party released herein with respect to any claim released pursuant to this
Agreement. 
 9. ADEA Waiver. By execution of this document, Employee expressly waives any and all rights to claims under the Age
Discrimination in Employment Act of 1967, 29 U.S.C. § 621, et seq. (the “ADEA”). 
  

	 	(a)	Employee acknowledges that Employee’s waiver of rights or claims refers to rights or claims arising under the ADEA is in writing and is understood by Employee.

  

	 	(b)	Employee expressly understands that by execution of this document, Employee does not waive any rights or claims under the ADEA that may arise after the date the
waiver is executed. 

  

	 	(c)	Employee acknowledges that the waiver of Employee’s rights or claims arising under the ADEA is in exchange for the consideration outlined in this Agreement which
is above and beyond that to which Employee is entitled. 

  

	 	(d)	Employee acknowledges that Stereotaxis expressly advised Employee to consult an attorney of Employee's choosing prior to executing this document and that Employee has
been given a period of not less than forty-five (45) days within which to consider this Agreement. 

  

	 	(e)	Employee acknowledges that Employee has been advised by Stereotaxis that Employee is entitled to revoke (in the event Employee executes this document) Employee’s
waiver of rights or claims arising under the ADEA within seven (7) days after executing this document by notifying Stereotaxis in writing at: Stereotaxis, 4320 Forest Park Avenue, Suite 100, St. Louis, Missouri 63108, Attn: VP of Human
Resources that Employee intends to revoke this waiver and that said waiver will not and does not become effective or enforceable until the seven (7) day period has expired. Employee agrees that payment of monies due under this executed and
unrevoked waiver will not be payable until the seven (7) day revocation period has expired and Employee has not revoked this waiver. 

 10. Confidentiality of Agreement. Employee and Stereotaxis shall keep all the terms and provisions of this Agreement and the fact and amount of consideration paid pursuant to this Agreement
confidential at all times and shall not disclose them to anyone not a party to this Agreement, other than (i) to the extent disclosure is required by law or reasonably deemed necessary by Stereotaxis’ securities counsel, or (ii) to
Employee’s spouse, or to a party's attorneys, accountants and tax advisors who have a need to know in order to render Employee or Stereotaxis, as applicable, professional advice or service. Each party agrees to exercise reasonable care for the
protection of confidentiality by said individuals. 

  

					
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 CONFIDENTIAL 

 

  
 11. Surviving
Obligations. Employee shall not violate any surviving terms and conditions of the Employment Agreement, including without limitation his obligations in (a) through (d) below: 

 

	 	(a)	Employee shall not disclose or use confidential information of Employer required to be kept confidential under the Employment Agreement. 

 

	 	(b)	Employee shall notify prospective Employers of the surviving terms and conditions of the Employment Agreement. 

 

	 	(c)	Employee shall not violate any covenants of non-competition or non-solicitation throughout the Restricted Period. 

 

	 	(d)	Neither party shall disparage the other or make or solicit any comments, statements, or the like to the media or to any third party that may be considered to be
derogatory or detrimental to the good name and/or business reputation of the other, including in the case of the Employer, its directors, officers, employees, agents, representatives and customers. 

12. Return of Materials. Employee agrees to promptly return to Stereotaxis any and all electronic media files, company keys, credit
cards, computers, equipment, documents, papers, records, notes, memoranda, plans, files, and other records containing information concerning Stereotaxis or its employees, customers, or operations, and any other information or materials required to
be returned pursuant to the Employment Agreement. Employee may retain his laptop computer supplied by the Company, provided he shall bring it to the Company’s office in Arizona on or before December 31, 2009 in order that all Company data
may be removed from the computer by the Company. 
 13. Construction. 

(a) Nothing contained in this Agreement will be construed to require the commission of any act contrary to law or to be contrary to law,
and whenever there is any conflict between any provision of this Agreement and any present or future statute, law, government regulation or ordinance contrary to which the Parties have no legal right to contract, the latter will prevail, but in such
event the provisions of this Agreement affected will be curtailed and restricted only to the extent necessary to bring them within legal requirements. 
 (b) The existence and execution of this Agreement will not be considered, and will not be admissible in any proceeding, as an admission by Stereotaxis or anyone released hereby, of any liability, error,
violation or omission. 
 (c) This Agreement will be governed by, and construed and interpreted according to, the laws of the
State of Missouri and whenever possible, each provision herein will be interpreted in such manner as to be effective or valid under applicable law. 
 14. Entire Agreement. This Agreement constitutes the entire agreement between the Parties, superseding all prior written and oral agreements or understandings between them, with the
exception of any terms and conditions of the Employment Agreement that survive its termination. This Agreement may not be modified, altered or changed except by written agreement signed by the Parties hereto. 

15. Acknowledgement. Employee acknowledges that the only consideration for Employee signing this Agreement are the terms stated
above and that no other promise, agreement, statement or representation of any kind has been made to Employee by any person or entity to cause Employee to sign this Agreement, and that Employee a) has read this Agreement, b) has had a reasonable
amount of time to consider its terms, c) is competent to execute this Agreement, d) has had an adequate opportunity to discuss this Agreement with an attorney and has done so or has voluntarily elected not to do so, d) fully understands the meaning
and intent of this Agreement, and e) is voluntarily executing it of Employee’s own free will. 

  

					
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 CONFIDENTIAL 

 

  

			
	AGREED TO AND ACCEPTED:
	
	
 

	Employee	 	
		
	STATE OF TX	 	)
		 	)
	COUNTY OF Denton	 	)

 COMES NOW Lou Ruggiero, who states to me that he has
read and understands the foregoing Agreement and agrees to and accepts its terms and conditions as a free act of his own volition. 
 Subscribed
and sworn to before me this 10 day of December 2009. 
  

							
		 		 		 	
 

	 My Commission Expires: 11-10-12
	 		 	Notary Public
			
	 STEREOTAXIS:
	 		 	
				
	By:	 	 

	 		 	Date: 12/10/09
				
		 		 		 	

  

					
	V5	 	5Form of Restricted Stock Unit Agreement

  
 Exhibit 10.1

 PC CONNECTION, INC. 
 Restricted Stock Unit Agreement 
 Granted Under the Amended and Restated 2007 Stock
Incentive Plan 
 AGREEMENT made this [    ] day of
[            ], between PC Connection, Inc., a Delaware corporation (the “Company”), and [insert name of Recipient] (the “Recipient”). 

For valuable consideration, receipt of which is acknowledged, the parties hereto agree as follows: 

1. Issuance of Restricted Stock Units. 
 In consideration of services rendered to the Company by the Recipient, the Company shall issue to the Recipient, subject to the terms and conditions set forth in this Agreement and in the Company’s
Amended and Restated 2007 Stock Incentive Plan, as amended (the “Plan”), [insert number of units granted] restricted stock units (each an “RSU” and together the “RSUs”), each representing the right to receive one
share (each a “Share” and together the “Shares”) of common stock, $0.01 par value, of the Company (“Common Stock”) upon satisfaction of the vesting conditions set forth in Section 2. The Recipient agrees that the
Shares shall be subject to the vesting and forfeiture provisions set forth in Section 2 of this Agreement and the restrictions on transfer set forth in Section 3 of this Agreement. 

2. Vesting. 
 (a) The RSUs shall vest in accordance with the vesting schedule in Schedule A attached hereto. Any fractional Shares resulting from the application of the foregoing percentages shall be rounded down to
the nearest whole number Shares. In the event that the Recipient ceases to be employed or engaged by the Company for any reason or no reason, with or without cause, prior to a vesting date, no further RSUs shall vest and the unvested RSUs shall be
automatically and immediately forfeited to the Company, without the payment of any consideration to the Recipient, effective as of such termination of employment or engagement. The Recipient shall have no further rights with respect to any RSUs that
are so forfeited. 
 (b) If the Recipient is employed or engaged by a subsidiary of the Company, any references in this
Agreement to employment with or engagement by the Company shall instead be deemed to refer to employment with or engagement by such subsidiary. 
 3. Restrictions on Transfer. 
 (a) The Recipient shall not sell, assign,
transfer, pledge, hypothecate or otherwise dispose of, by operation of law or otherwise (collectively “transfer”) any RSUs, or any interest therein, until such RSUs have vested and any additional restrictions on the sale of such shares set
forth in this agreement have expired or been released, except that the Recipient may transfer such RSUs: (a) to or for the benefit of any spouse, children, parents, uncles, aunts, siblings, grandchildren and any other relatives approved by the
Compensation Committee (collectively, “Approved Relatives”) or to a trust established solely for the benefit of the Recipient and/or Approved Relatives, 

 
provided that such RSUs shall remain subject to this Agreement (including, without limitation, the vesting and forfeiture provisions set forth in Section 2 and the restrictions on
transfer set forth in this Section 3) and such permitted transferee shall, as a condition to such transfer, deliver to the Company a written instrument confirming that such transferee shall be bound by all of the terms and conditions of this
Agreement; or (b) as part of the sale of all or substantially all of the shares of capital stock of the Company (including pursuant to a merger or consolidation); provided that the securities or other property received by the Recipient in
connection with such transaction shall remain subject to this Agreement. 
 (b) The Company shall not be required (i) to
transfer on its books any of the RSUs which have been transferred in violation of any of the provisions set forth in this Agreement or (ii) to treat as owner of such RSUs any transferee to whom such RSUs have been transferred in violation of
any of the provisions of this Agreement. 
 4. Distribution of Shares. 

(a) Subject to Section 2 of this Agreement, the Company will distribute to the Recipient, as soon as administratively practical after
the vesting date, the Shares represented by the RSUs that vested on such vesting date. 
 (b) The Company shall not be obligated
to issue to the Recipient the Shares upon vesting of any RSU (or otherwise) unless the issuance and delivery of such Shares shall comply with all relevant provisions of law and other legal requirements including, without limitation, any applicable
federal or state securities laws and the requirements of any stock exchange upon which shares of Common Stock may then be listed. 
 5. Provisions of the Plan. 
 (a) This Agreement is subject to the provisions
of the Plan, a copy of which is furnished to the Recipient with this Agreement. 
 (b) As provided in the Plan, upon the
occurrence of a Reorganization Event (as defined in the Plan) other than a liquidation or dissolution of the Company, the repurchase and other rights of the Company under each outstanding RSU shall inure to the benefit of the Company’s
successor and shall, unless the Board of Directors determines otherwise, apply to the cash, securities or other property which the Common Stock was converted into or exchanged for pursuant to such Reorganization Event in the same manner and to the
same extent as they applied to the Common Stock subject to such RSU. If, in connection with a Reorganization Event, a portion of the cash, securities and/or other property received upon the conversion or exchange of the Company’s Common Stock
is to be placed into escrow to secure indemnification or similar obligations, the mix between the vested and unvested portion of such cash, securities and/or other property that is placed into escrow shall be the same as the mix between the vested
and unvested portion of such cash, securities and/or other property that is not subject to escrow. 
 6. Withholding Taxes;
No Section 83(b) Election. 
 (a) The Recipient acknowledges and agrees that the Company has the right to deduct from
payments of any kind otherwise due to the Recipient any federal, state or local taxes of 

 
any kind required by law to be withheld with respect to the grant of the RSUs, the issuance of the Shares to the Recipient upon vesting of the RSUs or otherwise with respect to this Award. On
each date on which unvested RSUs vest pursuant to this Agreement, the Company shall deliver written notice to the Recipient of the amount of withholding taxes due with respect to the vesting of those unvested RSUs that vest on such date; provided,
however, that the total tax withholding cannot exceed the Company’s minimum statutory withholding obligations (based on minimum statutory withholding rates for federal, state, local or foreign tax purposes, including payroll and social taxes,
that are applicable to such supplemental taxable income). The Recipient shall satisfy such tax withholding obligations by the Company retaining, on each date on which unvested RSUs vest under this Agreement, such number of Shares that are issuable
with respect to such RSUs as have a fair market value (calculated using the last reported sale price of the Common Stock of the Company on the NASDAQ Global Select Market on such vesting date, or if such vesting date is not a NASDAQ Global Select
Market trading day, then on the trading day immediately preceding such vesting date) equal to the amount of the Company’s statutory minimum tax withholding obligation in connection with the vesting of such unvested RSUs. The retention of Shares
by the Company shall happen automatically, without any action required on the part of the Recipient, and the Company is hereby authorized to take such actions as are necessary to effect such retention. 

(b) The Recipient has reviewed with the Recipient’s own tax advisors the federal, state, local and foreign tax consequences of this
investment and the transactions contemplated by this Agreement. The Recipient is relying solely on such advisors and not on any statements or representations of the Company or any of its agents. The Recipient understands that the Recipient (and not
the Company) shall be responsible for the Recipient’s own tax liability that may arise as a result of this investment or the transactions contemplated by this Agreement. The Recipient understands an election under Section 83(b) of the U.S.
Internal Revenue Code is not available with respect to the RSUs. 
 7. Miscellaneous. 

(a) No Rights to Employment or Engagement. The Recipient acknowledges and agrees that the vesting of the RSUs pursuant to
Section 2 hereof is earned only by continuing service at the will of the Company (not through the act of being hired or being issued RSUs hereunder). The Recipient further acknowledges and agrees that the transactions contemplated hereunder and
the vesting schedule set forth herein do not constitute an express or implied promise of continued engagement as an employee or consultant or otherwise for the vesting period, for any period, or at all. 

(b) Severability. The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or
enforceability of any other provision of this Agreement, and each other provision of this Agreement shall be severable and enforceable to the extent permitted by law. 
 (c) Waiver. Any provision for the benefit of the Company contained in this Agreement may be waived, either generally or in any particular instance, by the Board of Directors of the Company.

 (d) Binding Effect. This Agreement shall be binding upon and inure to the benefit of the Company and the Recipient and
their respective heirs, executors, administrators, legal representatives, successors and assigns, subject to the restrictions on transfer set forth in Section 3 of this Agreement. 

  
 (e) Notice. All
notices required or permitted hereunder shall be in writing and deemed effectively given upon personal delivery or five days after deposit in the United States Post Office, by registered or certified mail, postage prepaid, addressed to the other
party hereto at the address shown beneath his or its respective signature to this Agreement, or at such other address or addresses as either party shall designate to the other in accordance with this Section 7(e). 

(f) Pronouns. Whenever the context may require, any pronouns used in this Agreement shall include the corresponding masculine,
feminine or neuter forms, and the singular form of nouns and pronouns shall include the plural, and vice versa. 
 (g) Entire
Agreement. This Agreement and the Plan constitute the entire agreement between the parties, and supersedes all prior agreements and understandings, relating to the subject matter of this Agreement. 

(h) Amendment. This Agreement may be amended or modified only by a written instrument executed by both the Company and the
Recipient. 
 (i) Governing Law. This Agreement shall be construed, interpreted and enforced in accordance with the
internal laws of the State of Delaware without regard to any applicable conflicts of laws. 
 (j) Recipient’s
Acknowledgments. The Recipient acknowledges that he or she: (i) has read this Agreement; (ii) has been represented in the preparation, negotiation, and execution of this Agreement by legal counsel of the Recipient’s own choice or
has voluntarily declined to seek such counsel; (iii) understands the terms and consequences of this Agreement; and (iv) is fully aware of the legal and binding effect of this Agreement. 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written. 

 

			
	PC CONNECTION, INC
		
	By:	 	  

		 	[insert name and title]

  

	
	Accepted and Agreed
	
	  

	[insert name of recipient]

  
 Schedule A

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