Document:

Retention and Ownership Change Event Agreement

 Exhibit 10.1 
 RETENTION AND OWNERSHIP 
 CHANGE EVENT AGREEMENT 

This Retention and Ownership Change Event Agreement (“Agreement”) is made effective as of the last date set forth below by and
between Immersion Corporation (the “Company”) and Joe LaValle (“Executive”). 
 RECITALS

 In order to make available compensation pursuant to this Agreement that will not be subject to taxation under
Section 409A (as defined below), Executive and the Board of Directors of the Company (the “Board”) have determined that it is in the best interests of the Company and Executive to enter into this Retention and Ownership Change Event
Agreement. The Company intends that income provided to Executive pursuant to this Agreement will not be subject to taxation under Section 409A, and the provisions of this Agreement shall be interpreted and construed in favor of satisfying any
applicable requirements of Section 409A. However, the Company does not guarantee any particular tax effect for income provided to Executive pursuant to this Agreement. In any event, except for the Company’s responsibility to withhold
applicable income and employment taxes from compensation paid or provided to Executive, the Company shall not be responsible for the payment of any applicable taxes on compensation paid or provided to Executive pursuant to this Agreement.

 The Board has determined that it is in the best interests of the Company to assure that the Company will have the continued
dedication and service of the Executive, notwithstanding the possibility or occurrence of a Change in Control (as defined below) of the Company. 
 AGREEMENT 
 In recognition thereof, the parties now agree as follows:

 1.        Definitions. For purposes of this Agreement: 

(a)        “Change in Control” means the occurrence of any of the following:

 (i)        any “person” (as such term is used in Sections 13(d) and 14(d)
of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) becomes the “beneficial owner” (as defined in Rule 13d-3 promulgated under the Exchange Act), directly or indirectly, of securities of the Company
representing more than fifty percent (50%) of the total combined voting power of the Company’s then-outstanding securities entitled to vote generally in the election of the Company’s Board of Directors; provided, however, that the
following acquisitions shall not constitute a Change in Control: (1) an acquisition by any such person who on the effective date of such transaction is the beneficial owner of more than fifty percent (50%) of such voting power,
(2) any acquisition directly from the Company, including, without limitation, a public offering of securities, (3) any acquisition by the Company, (4) any acquisition by a trustee or other fiduciary under an employee benefit plan of
the Company or (5) any acquisition by an 

 
entity owned directly or indirectly by the stockholders of the Company in substantially the same proportions as their ownership of the voting securities of the Company; or 

(ii)         an Ownership Change Event or series of related Ownership Change Events
(collectively, a “Transaction”) in which the stockholders of the Company immediately before the Transaction do not retain immediately after the Transaction direct or indirect beneficial ownership of more than fifty percent (50%) of
the total combined voting power of the outstanding securities entitled to vote generally in the election of Directors or, in the case of an Ownership Change Event described in Section 1(c)(iii), the entity to which the assets of the Company
were transferred (the “Transferee”), as the case may be; or 
 (iii)        a
liquidation or dissolution of the Company; 
 provided, however, that a Change in Control shall be deemed not to include a transaction described
in subsections (i) or (ii) of this Section 1(a) in which a majority of the members of the Board of Directors of the continuing, surviving or successor entity, or parent thereof, immediately after such transaction is comprised of
incumbent members. Notwithstanding the foregoing, to the extent that any amount that constitutes deferred compensation subject to and not exempted from the requirements of Section 409A of the Internal Revenue Code of 1986, as amended
(“Section 409A”), would become payable under this Agreement by reason of a Change in Control, such amount shall become payable only if the event constituting a Change in Control would also constitute a change in ownership or effective
control of the Company or a change in the ownership of a substantial portion of the assets of the Company within the meaning of Section 409A. 
 (b)        “Good Reason” means any of the following conditions, which condition(s) remain(s) in effect thirty (30) days after written notice to the
Board or the Company’s Chief Executive Officer from Executive of such condition(s): 

(i)          a material decrease in Executive’s base salary, other than a
material decrease that applies generally to other executives of the Company at Executive’s level; 

(ii)         a material, adverse change in the Executive’s title, authority,
responsibilities, or duties; or 
 (iii)        the relocation of the Executive’s
work place for the Company to a location that is more than forty (40) miles distant from Executive’s present work location for the Company; 
 provided, that such written notice must be given within thirty (30) days following the first occurrence of any of the good reason conditions set forth in this subsection (b) and the
Executive’s resignation must occur within six (6) months following the first occurrence of the good reason condition. 

(c)        “Ownership Change Event” means the occurrence of any of the following with
respect to the Company: (i) the direct or indirect sale or exchange in a single or series of related transactions by the stockholders of the Company of more than fifty percent (50%) of the voting stock of the Company; (ii) a merger or
consolidation in which the Company is a party; or (iii) the sale, exchange, or transfer of all or substantially all of the assets of the Company (other than a sale, exchange or transfer to one or more subsidiaries of the Company). 

  

			
	Second Amended And Restated Retention And Ownership Change Event Agreement – February 2010	 	Page 2

 (d)        a termination for “Cause” means
Executive’s termination based upon (1) Executive’s theft, dishonesty, misconduct, breach of fiduciary duty, or falsification of any Company documents or records; (2) Executive’s material failure to abide by the
Company’s code of conduct or other policies (including, without limitation, policies relating to confidentiality and reasonable workplace conduct); (3) Executive’s unauthorized use, misappropriation, destruction or diversion of any
tangible or intangible asset or corporate opportunity of the Company (including, without limitation, Executive’s improper use or disclosure of the Company’s confidential or proprietary information); (4) any intentional act by the
Executive that has a material detrimental effect on the Company’s reputation or business; (5) Executive’s repeated failure or inability to perform any reasonable assigned duties after written notice from the Company of, and a
reasonable opportunity to cure, such failure or inability; (6) Executive’s conviction (including any plea of guilty or nolo contendere) for any criminal act that impairs Executive’s ability to perform his duties for the Company.

 (e)        “Separation from Service” shall have the meaning determined by
Treasury Regulations issued pursuant to Section 409A. 
 2.        Termination
Without Cause or Resignation for Good Reason. In the event that the Company or its successor terminates Executive’s employment without Cause or Executive resigns for Good Reason and Executive is not entitled to receive the severance pay and
benefits described in Section 3 below, Executive will be entitled to receive the following payment and benefits, provided that prior to the sixtieth (60th) day following the date of such termination Executive has signed a general release
of known and unknown claims in a form satisfactory to the Company, and the period for revocation has lapsed without the general release having been revoked: 
 (a)        payment in a lump sum on the sixtieth (60th) day following Executive’s termination of employment of an amount equal to six
(6) months’ base salary at Executive’s final base salary rate, subject to applicable withholding; and 

(b)        commencing on the sixtieth (60th) day following Executive’s termination of
employment, payment of the premiums (including reimbursement to Executive of any such premiums paid by Executive during such sixty (60) day period) necessary to continue Executive’s and dependents group health insurance coverage under
COBRA until the earlier of (i) six (6) months following Executive’s termination date, or (ii) the date on which Executive first becomes eligible to obtain other group health insurance coverage. Thereafter, Executive may elect to
purchase continued group health insurance coverage at his own expense in accordance with COBRA. Notwithstanding the foregoing, payment of such premiums shall not commence unless and until Executive has incurred a Separation from Service. 

In the event that a Change in Control constituting a change in ownership or effective control of the Company or a change in the ownership
of a substantial portion of the assets of the Company within the meaning of Section 409A (a “Section 409A Change in Control Event”) occurs on or before the ninetieth (90th) day following a date on which Executive experiences a
termination of employment in connection with which Executive is entitled to receive the payment provided by Section 2(a), Executive will be entitled to receive the following additional payment and benefits: 

  

			
	Second Amended And Restated Retention And Ownership Change Event Agreement – February 2010	 	Page 3

 (c)        payment on the sixtieth (60th) day
following the Section 409A Change in Control Event of an amount equal to six (6) months’ base salary at Executive’s final base salary rate, subject to applicable withholding; and 

(d)        commencing with the seventh (7th) month following Executive’s termination of
employment, payment of the premiums necessary to continue Executive’s and dependents group health insurance coverage under COBRA until the earlier of (i) twelve (12) months following Executive’s termination date, or (ii) the
date on which Executive first becomes eligible to obtain other group health insurance coverage. Thereafter, Executive may elect to purchase continued group health insurance coverage at his own expense in accordance with COBRA. Notwithstanding the
foregoing, payment of such premiums shall not commence unless and until Executive has incurred a Separation from Service. 

3.        Termination Without Cause or Resignation for Good Reason Due to a Change in
Control. In the event that, within one (1) year following a Change in Control, the Company or its successor terminates Executive’s employment without Cause or Executive resigns for Good Reason, Executive will be entitled to receive the
following payment and benefits, provided that prior to the sixtieth (60th) day following the date of such termination Executive has signed a general release of known and unknown claims claims in a form satisfactory to the Company, and the
period for revocation has lapsed without the general release having been revoked: 

(a)        payment in a lump sum on the sixtieth (60th) day following Executive’s
termination of employment of an amount equal to twelve (12) months’ base salary at Executive’s final base salary rate, subject to applicable withholding; 
 (b)        commencing on the sixtieth (60th) day following Executive’s termination of employment, payment of the premiums (including reimbursement to
Executive of any such premiums paid by Executive during such sixty (60) day period) necessary to continue Executive’s and dependents group health insurance coverage under COBRA until the earlier of (i) twelve (12) months
following Executive’s termination date, or (ii) the date on which Executive first becomes eligible to obtain other group health insurance coverage. Thereafter, Executive may elect to purchase continued group health insurance coverage at
his own expense in accordance with COBRA. Notwithstanding the foregoing, payment of such premiums shall not commence unless and until Executive has incurred a Separation from Service; and 

(c)        Immediate vesting in fifty percent (50%) of his then unvested Company equity
awards. 
 4.        Voluntary Termination. In the event that Executive resigns
from his employment with the Company at any time (other than a resignation for Good Reason during the period covered by Section 2 or Section 3), or in the event that Executive’s employment terminates at any time as a result of his
death or disability (meaning Executive is unable to perform his duties for any consecutive six (6) month period, with or without reasonable accommodation, as a result of a physical and/or mental impairment), Executive will be entitled to no
compensation or benefits from the Company other than those earned through the date of Executive’s termination. Executive agrees that if he resigns from his employment with the Company, he will provide the Company with 20 calendar days’
written notice of such resignation. The Company may, in its sole discretion, elect to waive all or any part of such notice period and accept the Executive’s resignation at an earlier date. 

  

			
	Second Amended And Restated Retention And Ownership Change Event Agreement – February 2010	 	Page 4

 5.        Termination for Cause. If
Executive’s employment is terminated by the Company at any time for Cause as defined above in paragraph 1, Executive will be entitled to no compensation or benefits from the Company other than those earned through the date of his termination
for Cause. 
 6.        Compliance With Section 409A.  

(a)        Notwithstanding anything set forth herein to the contrary, no amount payable pursuant
to Section 2 or Section 3 of the Agreement which constitutes a “deferral of compensation” within the meaning of Treasury Regulations promulgated pursuant to Section 409A (the “Section 409A Regulations”) shall be
paid unless and until Executive has incurred a Separation from Service. Furthermore, to the extent that Executive is a “specified employee” of the Company as of the date of Executive’s Separation from Service, and to the extent
required by the Section 409A Regulations, no amount that constitutes a deferral of compensation which is payable on account of the Employee’s Separation from Service shall be paid to Executive before the date (the “Delayed Payment
Date”) which is the first day of the seventh month after the date of Executive’s Separation from Service or, if earlier, the date of Executive’s death following such Separation from Service. All such amounts that would, but for this
paragraph, become payable prior to the Delayed Payment Date will be accumulated and paid on the Delayed Payment Date. To the extent that any provision of this Agreement is ambiguous as to its compliance with Section 409A, the provision will be
read in such a manner so that all payments hereunder comply with Section 409A. Payments pursuant to this section are intended to constitute separate payments for purposes of Section 1.409A-2(b)(2) of the Section 409A Regulations.

 (b)        The parties intend that the payments and benefits provided to Executive
pursuant to this Agreement be paid in compliance with Section 409A so that no excise tax is incurred under Section 409A. To the extent permitted by Section 409A and the Section 409A Regulations, the parties agree to modify this
Agreement, the timing (but not the amount(s)) of the payments or benefits provided herein, or both, to the extent necessary to comply with Section 409A. 
 7.        At-Will Employment. Notwithstanding anything contained in this Agreement, the parties acknowledge and agree that Executive’s employment with
the Company is and shall continue to be “at-will.” 
 8.        Dispute
Resolution. In the event of any dispute or claim between the parties, including any claims relating to or arising out of this Agreement or the termination of Executive’s employment with the Company for any reason, Executive and the Company
agree that all such disputes shall be fully resolved by binding arbitration conducted by the American Arbitration Association (“AAA”) in Santa Clara County, under the AAA’s National Rules for the Resolution of Employment Disputes then
in effect, which are available online at the AAA’s website at www.adr.org. Executive and the Company each acknowledge and agree that they are waiving their respective rights to have any such disputes or claims tried by a judge or jury.

 9.        Notices. Notices and all other communications contemplated by this
Agreement shall be in writing and shall be deemed to have been duly given when personally delivered or when received if mailed by U.S. registered or certified mail, return receipt requested and postage prepaid. In the case of the Executive, mailed
notices shall be addressed to the Executive at the 

  

			
	Second Amended And Restated Retention And Ownership Change Event Agreement – February 2010	 	Page 5

 
home address which the Executive most recently communicated to the Company in writing. In the case of the Company, mailed notices shall be addressed to its corporate headquarters, and all notices
shall be directed to the attention of its Chief Executive Officer. 

10.        Successors. 

(a)        Company’s Successors. Any successor to the Company (whether direct or
indirect and whether by purchase, lease, merger, consolidation, liquidation or purchase of all or substantially all of the Company’s business and/or assets) shall assume the Company’s obligations under this Agreement in writing and agree
expressly to perform the Company’s obligations under this Agreement in the same manner and to the same extent that the Company would be required to perform such obligations in the absence of a succession. For all purposes under this Agreement,
the term “Company” shall include any successor to the Company’s business and/or assets which executes and delivers the assumption agreement described in this subsection (a) or which becomes bound by the terms of this Agreement by
operation of law. 
 (b)        Executive’s Successors. Without the written
consent of the Company, the Executive shall not assign or transfer this Agreement or any right or obligation under this Agreement to any other person or entity. Notwithstanding the foregoing, the terms of this Agreement and all rights of the
Executive hereunder shall inure to the benefit of, and be enforceable by, the Executive’s personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. 

11.        Termination. This Agreement shall terminate in the event that Executive is no
longer part of the executive team of the Company as determined by the Board of Directors and does not terminate service for Good Reason. 
 12.        Miscellaneous Provisions. 
 (a)        No Duty to Mitigate. The Executive shall not be required to mitigate the amount of any payment contemplated by this Agreement, nor shall any such
payment be reduced by any earnings that the Executive may receive from any other source. 

(b)        Modification/Waiver. No provision of this Agreement may be amended, modified,
waived or discharged unless the amendment, modification, waiver or discharge is agreed to in writing and signed by the Executive and by an authorized officer of the Company (other than Executive). No waiver by either party of any breach of, or of
compliance with, any condition or provision of this Agreement by the other party shall be considered a waiver of any other condition or provision or of the same condition or provision at another time. 

(c)        Integration. This Agreement constitutes the entire agreement and understanding
between the parties regarding Executive’s retention and severance benefits, and it supersedes all prior or contemporaneous agreements, whether written or oral, regarding that subject matter, including the Original Agreement. 

(d)        Choice of Law. The validity, interpretation, construction and performance of
this Agreement shall be governed by the laws of the State of California. 

  

			
	Second Amended And Restated Retention And Ownership Change Event Agreement – February 2010	 	Page 6

 (e)        Severability. The invalidity or
unenforceability of any provision or provisions of this Agreement shall not affect the validity or enforceability of any other provision hereof, which shall remain in full force and effect. 

(f)        Employment Taxes. All payments made pursuant to this Agreement shall be subject
to withholding of applicable income and employment taxes. 

(g)        Counterparts. This Agreement may be executed in counterparts, each of which
shall be deemed an original, but all of which together will constitute one and the same instrument. 

  

			
	Second Amended And Restated Retention And Ownership Change Event Agreement – February 2010	 	Page 7

 THE PARTIES SIGNING BELOW HAVE READ THE FOREGOING AGREEMENT AND FULLY UNDERSTAND AND AGREE TO EACH AND EVERY
PROVISION CONTAINED HEREIN. 
  

									
				
	Dated:	 	 8/31/10
	 		 	 /s/ Joe LaValle

		 		 		 	Joe LaValle
				
		 		 		 	Immersion Corporation
					
	Dated:	 	 9-3-10
	 		 	By:	 	 /s/ Victor Viegas

		 		 		 	Its:	 	CEO

  

			
	Second Amended And Restated Retention And Ownership Change Event Agreement – February 2010	 	Page 8Form of 2011 Executive Bonus Plan

 Exhibit 10.2 

 

 

 2011 
 Executive Incentive Plan 

  
 Page 1

 OBJECTIVES 
 The primary aim of the 2011 Executive Incentive Plan (the “Plan”) is to focus Immersion’s executive management efforts on meeting Immersion’s Revenue, EBITDA Profit, and business
objectives, and to reward the achievement of those goals. 
 ELIGIBILITY 

In addition to your base salary, you are eligible to earn an incentive payment pursuant to the Plan and its Attachment A. In order to be
eligible to earn any payment under this Plan, you must sign and date a copy of the Plan on the space provided below and return it to Human Resources. An executive’s eligibility to participate in this Plan will be subject to the review and
approval of the CEO of the Company, and before they become earned, any payments to be made under this Plan are subject to the review and approval of the Company’s Compensation Committee, with input from the Company’s CEO. Any
interpretation of this Plan shall be made by the Company’s Compensation Committee in its sole discretion. This Plan supersedes all prior executive bonus, incentive, and/or variable compensation plans of the Company, as well as any such
provisions in any employment agreement, which are of no further force or effect. 
 Employees hired between January 1 and
December 31, 2011, who are permitted to participate in the Plan shall be eligible to participate on a pro-rata basis, based upon their employment start date and contingent upon their continued active employment through the Payment Date (defined
below). The proration will be based on the number of work days that the employee was employed by the Company during 2011. 
 PLAN
ADMINISTRATION 
 The Plan Administrator is the Compensation Committee of the Board of Directors. The Plan Administrator
may cancel, suspend, amend, or revise all or any part of the Plan for any reason at any time. In addition, the Plan Administrator reserves full discretion to modify, alter and/or change the actual bonus payout at its sole discretion. 

To the extent earned, payments under the Plan will be wages and will be subject to withholding of federal and state income and employment
taxes. Earned payments under this Plan will be paid on the next regular payroll date following the later of (a) February 15, 2012, (b) the date on which the Company’s Income Statement for 2011 has been finalized, or (c) the
date on which the Company’s 2011 earnings have been publicly disclosed (the “Payment Date”), but in no event will such payments be made any later than March 15, 2012. 

Nothing in this Plan shall in any way alter the at-will employment relationship between the Company and its executives. All employees of the
company are employed on an “at-will” basis, which means that either the employee or the Company may terminate the relationship at any time, with or without cause or notice. 

In the event that a participant receives payment under this Plan and the Company later determines or uncovers an act or event of fraud or
financial misstatements, the Company shall have the right, at its own discretion, to recover any or all of the bonus paid to the participant. 
 For purposes of this Plan, a participant’s employment with Immersion terminates on the last day on which work duties are actually performed by the participant. Periods of pay in lieu of notice,
severance, or any other post-termination benefits or compensation period shall not be deemed periods of employment for purposes of this Plan. Subject only to the second paragraph of the “Eligibility” section above, in order to earn any
payment under the Plan, a participant must be continuously employed by Immersion from January 1, 2011 through the Payment Date. A participant who resigns from his or her employment with Immersion prior to the Payment Date for any reason, or
whose employment is terminated by Immersion prior to the Payment Date for any reason, will not earn any payment under this Plan. 

Provided they meet the eligibility requirements described in this Plan and Attachment A, participants who

  
 Page 2

 
are on an approved leave of absence at any time during calendar year 2011 will earn a pro-rated payment under this Plan based upon the portion of the year that they are actively employed and not
on leave status. To the extent that a participant is on an approved leave of absence on the Payment Date, he/she will receive payment under this Plan on the Payment Date (subject to pro-ration, if applicable, as described in this paragraph). To the
extent that a participant is on an unapproved leave of absence on the Payment Date, he/she will not earn any payment under this Plan unless he/she returns to active employment with Immersion, at which time he/she will receive his/her Plan payment
(subject to pro-ration, if applicable, as described in this paragraph); provided that if such participant does not return to active employment by March 15, 2012, he/she shall forfeit his/her right to such incentive payment. 

PLAN DEFINITIONS 

Revenue is revenue that is recognized by Immersion for the applicable period in accordance with generally accepted accounting
principles and as reported in the Company’s audited financial statements. 
 EBITDA Profit is Earnings Before Interest,
Taxes, Depreciation, and Amortization. EBITDA includes Executive Incentive Plan payment amounts for the purposes of this calculation. Excluded from the calculation are the following expenses and charges: stock compensation expense, discontinued
operations, restatement charges, and restructuring charges. 
 Target Incentive is the “target” payment that a
participant would earn under the Plan if all of the Company performance targets and participant’s MBO’s are met, and the participant’s performance is fully satisfactory as determined by the Company’s CEO. The amount of the Target
Incentive is a percentage of the participant’s annual base salary as of January 1, 2011 (or as of such participant’s first day of employment is such participant is hired after January 1, 2011), which percentage is determined by
the Compensation Committee with input from the CEO. The actual Plan payment earned by a participant will vary depending on (i) the extent to which Company performance targets and participant’s MBO’s are met, and (ii) the
CEO’s evaluation of the participant’s performance. 
 MBO’s are specific business milestones which must be
completed in a timely manner, in strict accordance with the stated terms and conditions associated with each MBO, to the satisfaction of the CEO. 
  

					
			
	  
	  		  	  

	 Executive
	  		  	 Date

			
	  
	  		  	  

	 VP of Human Resources
	  		  	 Date

			
	  
	  		  	  

	 CFO
	  		  	 Date

			
	  
	  		  	  

	 CEO
	  		  	 Date

  
 Page 3

 Attachment A 
 EXECUTIVE INCENTIVE PLAN STATEMENT OF GOALS FOR YEAR 2011 
 Name 

Percent of Base Salary Payment at Plan: XX% 
 The following is a statement of financial, strategic and tactical objectives for 2011 that will serve as a basis for overall performance evaluation and determination of year-end executive incentive award.

 Discretionary Multiplier: The Company’s Compensation Committee will determine a performance “weighting” to
be applied to the Executive’s incentive calculation as determined by the Compensation Committee with input from the CEO. The weighting factor will typically range from 0.80 to 1.20. This factor is then multiplied by each plan component
calculation (Corporate Financial Metrics and MBO’s, separately) to determine the Executive’s overall incentive payment. 

Plan Components: The Plan has two independent components: Corporate Financial Metrics and Individual MBO’s. Within each
component you will be measured against specific goals. 
  

	A.	 XX% of your target bonus will be based on Corporate performance as follows. 

 

	 	•	 	 Achieve GAAP Revenue of $XXM. Achieve EBITDA Profit of $XXM. The EBITDA Profit amount for the purpose of this calculation comprises
the GAAP EBITDA Profit prior to stock compensation expense, discontinued operations, restatement charges, and restructuring charges. Payment amounts will be pro-rated between matrix levels. No payments shall occur from performance below any minimum
matrix target: (Min. Revenue: $XXM or Min EBITDA Profit: $XXM) 

  

											
	Revenue /
EBITDA Profit
Targets	  	$XXM	  	$XXM	  	$XXM	  	$XXM	  	$XXM
	
$XXM
	  	125.0%	  	137.5%	  	150.0%	  	175.0%	  	200.0%
	
$XXM
	  	100.0%	  	112.5%	  	125.0%	  	150.0%	  	175.0%
	
$XXM
	  	75.0%	  	87.5%	  	100.0%	  	125.0%	  	150.0%
	
$XXM
	  	62.5%	  	75.0%	  	87.5%	  	112.5%	  	137.5%
	
$XXM
	  	50.0%	  	62.5%	  	75.0%	  	100.0%	  	125.0%

 

	B.	 XX% of your target bonus will be based on individual MBO’s as follows. 

 

	 	•	 	 For payment to be made under the MBO component of the Plan, certain financial targets must be met: 

	 	ü
	 	 Participants will be eligible for 100% MBO payout when the company is >/= 80% of Revenue target and EBITDA Profit ;

	 	•	 	 Goals and Objectives will be agreed upon between the Plan Participant and the CEO. 

	 	•	 	 Achievement of such goals and objectives shall be made by the Company’s Compensation Committee with input from the CEO.

  
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