Document:

Exhibit 10.8 Q2

Exhibit 10.8

June 8, 2012

Dear Gordie:
On April 18, 2012, you and Zeltiq Aesthetics, Inc. (the “Company”) entered into a written agreement regarding your transition from the Company (the “Transition Agreement”). Among other things, the Transition Agreement provided that the terms set forth therein would be further documented in a subsequent written separation agreement.  This Separation Agreement is the subsequent written separation agreement and, once signed by you, it shall supersede and replace the Transition Agreement in its entirety.    
1.SEPARATION DATE AND BOARD RESIGNATION.  You resigned your employment with the Company on April 18th, 2012 (the “Separation Date”).  You also resigned from the Company's Board of Directors on and effective as of the Separation Date.  On the Separation Date, you were paid all accrued salary, and all accrued but unused vacation time, less applicable deductions and withholdings.  

2.SEVERANCE BENFITS.  Upon signing this Separation Agreement, and allowing the releases contained herein to become effective, the Company will provide you with the following severance benefits:  

(i)    Severance Payments.  In lieu of the severance benefits set forth in your Offer Letter with the Company, the Company will provide you with fifteen (15) months of continuing monthly base salary payments (less required deductions and withholdings) beginning on the Separation Date (the “Severance Payment Period”).  These payments shall begin within ten (10) days after the Effective Date (as defined in Section 10 herein), with the first payment containing your base salary from the Separation Date through the first payment date..
(ii)    COBRA Payments.  
(a)    Provided that you timely elect continuing health and dental coverage through COBRA, the Company will reimburse you for COBRA premium payments (for you and all covered dependents) during the Severance Payment Period or until you become eligible for coverage through a subsequent employer, whichever is earlier (the “COBRA Premiums”).    In addition, with regard to your families' non-elective medical expenses incurred during the Severance Payment Period which are not covered by the healthcare policies available to you under COBRA, the Company will pay you a bonus of up to a maximum of $25,000.00 upon presentation of reasonable proof of your actual out of pocket expenses.
(b)    Notwithstanding the foregoing, if the Company determines, in its sole discretion, that it cannot pay the COBRA Premiums without potentially incurring financial costs or penalties under applicable law (including, without limitation, Section 2716 of the Public Health Service Act), the Company instead shall pay to you, on the first day of each month, a fully taxable cash payment equal to the amount of the monthly COBRA premium you would be required to pay to continue your group health coverage (including coverage for any covered dependents) for that month (such amount, the “Special Cash Payments”).  In the event the Company opts for the Special Cash Payments, you could use, but would not be obligated to use, the Special Cash Payments toward the cost of COBRA premiums.  
(iii)    Vesting of Stock Options and Restricted Stock Units.  The vesting of your Company stock options and Restricted Stock Units (“RSUs”) will be accelerated such that you will receive vesting of any such options and RSUs which would have vested had you remained employed from the Separation Date through September 14, 2012.   In addition, you will be given fifteen (15) months from the Separation Date to exercise your vested but unexercised Company Stock Options.  You and the Company agree that the final spreadsheet provided to you on June 7, 2012 constitutes an accurate and complete summary of your Company stock options and RSUs.  Except as set forth in this Section 2(iii), your Company stock options and RSUS will continue to be governed by the applicable stock option plan, stock option agreement, and restricted stock purchase agreement.  You acknowledge and agree that the Company makes no representations as to the tax treatment of your Company stock options and RSUs and that you have been advised to seek independent tax advice as to these issues.

(iv)    Directors and Officers (“D&O”) Insurance.  The Company will continue to cover you as an insured former director and officer under its current D&O insurance policy and any subsequent renewals of such D&O coverage.

(v)    Princeton Office Lease Payments: The Company will make monthly payments on the Princeton Office Lease for the twelve month period beginning May 1, 2012, and ending on April 30, 2013, for a total aggregate amount of up to $40,000.00.

(vi)    Moving Allowance: The Company will reimburse you for up to $20,000.00 for moving expenses related to the relocation of your personal items from the Pleasanton, CA office and apartment to Princeton, NJ.  These reimbursement expenses shall be reported as an income to you on an IRS Form 1099.

(vii)    Reimbursement for Attorney's Fees: The Company will reimburse you for up to $5,000.00 for reasonable attorney's fees incurred by your counsel to review and provide counsel to you in connection with this Separation Agreement, promptly following you providing appropriate documentation of such expenses.  These reimbursement expenses shall be reported as an income to you on an IRS Form 1099.

3.OTHER COMPENSATION OR BENEFITS.  You acknowledge that, except as expressly provided in this Separation Agreement, you will not receive any additional compensation, severance, or benefits after the Separation Date.  
    
4.EXPENSE REIMBURSEMENTS. You agree that, within thirty (30) days after the date you sign this Agreement, you will submit your final documented expense reimbursement statement reflecting all business expenses you incurred through the Separation Date, if any, for which you seek reimbursement.  The Company will reimburse you for these expenses pursuant to its regular business practice.  

5.RETURN OF COMPANY PROPERTY.  Within two (2) weeks of the Separation Date, you will return any of the Company's property, documents and confidential information in your possession, custody, or control; provided however, that you can keep your laptop computer so long as you first allow the Company to remove preserve any Company information contained on this computer and thereafter expunge any such information from it.

6.CONFIDENTIAL INFORMATION OBLIGATIONS.  You acknowledge and agree to abide by your continuing obligations under your Nondisclosure Agreement (the “Nondisclosure agreement”), a copy of which is attached hereto as Exhibit A.  

7.NONDISPARAGEMENT.  You agree not to disparage the Company, its officers, directors, employees, shareholders, and agents, in any manner likely to be harmful to its or their business, business reputation or personal reputation; provided that you will respond accurately and fully to any question, inquiry or request for information when required by legal process.  The Company (through its officers and directors) agrees not to disparage you in any manner likely to be harmful to you or your business, business reputation or personal reputation; provided that the Company will respond accurately and fully to any question, inquiry or request for information when required by legal process.  

8.NO ADMINISSIONS.  You understand and agree that the promises and payments in consideration of this Agreement shall not be construed to be an admission of any liability or obligation by the Company to you or to any other person, and that the Company makes no such admission.

9.YOUR RELEASE OF CLAIMS.
  
a.General Release.  In exchange for the consideration under this Separation Agreement to which you would not otherwise be entitled, you hereby generally and completely release the Company and its directors, officers, employees, shareholders, partners, agents, attorneys, predecessors, successors, parent or subsidiary entities, 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 prior to or on the date you sign this Separation Agreement.  

b.Scope of Release.  This general release includes, but is not limited to: (1) all claims arising out of or in any way related to your employment with the Company or the termination of that employment; (2) all claims related to your compensation or benefits from the Company, including salary, bonuses, commissions, vacation pay, expense reimbursements, severance pay, fringe benefits, stock, stock options or any other ownership interests in the Company; (3) all claims for breach of contract, wrongful termination or breach of the implied covenant of good faith and fair dealing; (4) all tort claims, including claims for fraud, defamation, emotional distress and discharge in violation of public policy; and (5) 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, the federal Age Discrimination in Employment Act (the “ADEA”) (as amended), or the California Fair Employment and Housing Act (as amended).  

c.Excluded Claims.  Notwithstanding the foregoing, you are not hereby releasing the Company from any of the following claims (collectively, the “Excluded Claims”): (a) any rights or claims for indemnification you may have pursuant to any written indemnification agreement with the Company to which you are a party, the charter, bylaws, or operating agreements of the Company, or under applicable law; (b) any rights which cannot be waived as a matter of law; or (c) any claims arising from the breach of this Separation Agreement.  In addition, nothing in this Separation Agreement prevents you from filing, cooperating with, or participating in any proceeding before the Equal Employment Opportunity Commission, the Department of Labor, or the California Department of Fair Employment and Housing, except that you hereby waive your right to any monetary benefits in connection with any such claim, charge or proceeding.  You hereby represent and warrant that, other than the Excluded Claims, you are not aware of any claims you have or might have against the Company or its directors, officers, employees, shareholders, partners, agents, attorneys, predecessors, successors, parent or subsidiary entities, insurers, affiliates or assigns. 

10.ADEA Waiver.  You acknowledge that you are knowingly and voluntarily waiving and releasing any rights you may have under the ADEA (“ADEA Waiver”).  You also acknowledge that the consideration given for the ADEA Waiver is in addition to anything of value to which you were already entitled.  You further acknowledge that you have been advised by this writing, as required by the ADEA, that:  (a) your ADEA Waiver does not apply to any rights or claims that arise after the date you sign this Agreement; (b) you should consult with an attorney prior to signing this Agreement; (c) you have twenty-one (21) days to consider this Agreement (although you may choose to voluntarily sign it sooner); (d) you have seven (7) days following the date you sign this Agreement to revoke (in a written revocation sent to me); and (e) this Agreement will not be effective until the date upon which the revocation period has expired, which will be the eighth day after you sign this Agreement (the “Effective Date”). 

11.THE COMPANY'S RELEASE OF CLAIMS.  The Company hereby generally and completely releases you 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, conducts, or omissions prior to or on the date it signs this Separation Agreement; provided, however, that this release shall not extend to: (1) any claims arising after the date this Separation Agreement is signed, including without limitation any claims for breach of this Separation Agreement; (2) claims arising at any time from your contractual, statutory, and common law obligations to refrain from the unauthorized use or disclosure of the Company's confidential, proprietary, or trade secret information; or (3) claims arising at any time from any violations of federal or state law.

12.SECTION 1542 WAIVER.  In granting the release herein, which includes claims that may be unknown to you or the Company at present, you and the Company acknowledge that you have read and understand Section 1542 of the California Civil Code:  “A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected his or her settlement with the debtor.”  Except as to claims which are expressly reserved herein, you and the Company hereby expressly waive and relinquish all rights and benefits under that section and any law or legal principle of similar effect in any jurisdiction with respect to the releases granted herein, including but not limited to the release of unknown and unsuspected claims granted in this Agreement.

13.NO VOLUNTARY ADVERSE ACTIONS; COOPERATION.  You agree that you will not voluntarily assist any person in bringing or pursuing any claim or action of any kind against the Company or its parent, subsidiary, or affiliate entities, or their officers, directors, members, employees or agents, except in the course of a government investigation or as required by compulsion of law (including as required by subpoena or deposition notice).  In addition, you agree to cooperate fully with the Company in connection with its actual or contemplated defense, prosecution, or investigation of any claims or demands by or against third parties (e.g., demands to produce documents or testimony pursuant to subpoena), or other matters arising from events, acts, or failures to act that occurred during the period of your employment by the Company.  Such cooperation includes, without limitation, making yourself available to the Company upon reasonable notice, without subpoena, to provide truthful and accurate information in witness interviews with the Company or its counsel, and in deposition and trial testimony.  The Company will reimburse you for reasonable out-of-pocket expenses you may incur in connection with any such cooperation effort (pro-rated for partial days); provided, however that no per diem payment will be made for any time you spend testifying in deposition, court hearing, or other legal proceeding.  The Company will make reasonable efforts to accommodate your scheduling needs.  In addition, you agree to execute all documents (if any) necessary to carry out the terms of this Agreement.

14.REPRESENTATIONS.  You hereby represent that you have been paid all compensation owed and for all hours worked, you have received all the leave and leave benefits and protections for which you are eligible pursuant to FMLA, CFRA, or any applicable law or Company policy, and you have not suffered any on-the-job injury or illness for which you have not already filed a workers' compensation claim.

15.MISCELLANEOUS.  This Separation Agreement, including Exhibit A, constitutes the complete, final and exclusive embodiment of the entire agreement between you and the Company with regard to its subject matter.  It is entered into without reliance on any promise or representation, written or oral, other than those expressly contained herein, and it supersedes 

any other such promises, warranties or representations, including without limitation any promises set forth in the Transition Agreement.  This Separation Agreement may not be modified or amended except in a writing signed by both you and a duly authorized officer of the Company.  This Separation Agreement will bind the heirs, personal representatives, successors and assigns of both you and the Company, and inure to the benefit of both you and the Company, their heirs, successors and assigns.  If any provision of this Separation Agreement is determined to be invalid or unenforceable, in whole or in part, this determination will not affect any other provision of this Separation Agreement and the provision in question will be modified so as to be rendered enforceable.  This Separation Agreement will be deemed to have been entered into and will be construed and enforced in accordance with the laws of the State of California as applied to contracts made and to be performed entirely within California.  Any ambiguity in this Agreement shall not be construed against either party as the drafter.  Any waiver of a breach of this Separation Agreement shall be in writing and shall not be deemed to be a waiver of any successive breach.  This Separation Agreement may be executed in counterparts and facsimile signatures will suffice as original signatures.

If this Separation Agreement is acceptable to you, please sign below and return the original to me.
We wish you the best in your future endeavors.
Sincerely,
ZELTIQ AESTHETICS, INC.

	
		
	 
	 

	/s/ Jean George
	 

	Jean George
	 

	Director
	 

I have read, understand and agree fully to the foregoing separation agreement:

	
	
	 

	/s/ Gordie Nye

	Gordie Nye

	Dated: June 8, 2012

[ZELTIQ LOGO]

NONDISCLOSURE AGREEMENT

THIS NONDISCLOSURE AGREEMENT (this “Agreement”) governs the disclosure of information by and between ZELTIQ AESTHETICS, INC. , a Delaware corporation (“ZELTIQ”) and Gordie Nye, an individual, (“Recipient”) as of July 27, 2009 (the “Effective Date”).
1.As used herein, “Confidential Information” shall mean any and all technical and non-technical information that ZELTIQ provides Recipient, whether in graphic, electronic, written or oral form, and including but not limited to any patent and patent applications, trade secrets, and proprietary information as well as any ideas, techniques, sketches, drawings, works of authorship, models, inventions, know-how, processes, algorithms, software programs, software source documents, firmware and formulae related to the current, future, and proposed products and services of ZELTIQ, and any information concerning any research, experimental work, development, design details and specifications, engineering, financial information, purchasing, customer lists, investors, employees, business and contractual relationships, business forecasts, sales and merchandising, marketing plans of ZELTIQ and information ZELTIQ provides regarding third parties. 

2.Recipient agrees that for a period of four (4) years from disclosure of Confidential Information and notwithstanding any termination of this Agreement it will hold in strict confidence and not disclose to any third party any Confidential Information except as approved in writing in advance by ZELTIQ, and will use the Confidential Information for no purpose other than for the purpose furthering a business relationship with ZELTIQ.  Recipient shall only permit access to Confidential Information to those of its employees or authorized representatives having a need to know and who have signed confidentiality agreements or are otherwise bound by confidentiality obligations at least as restrictive as those contained herein.  Intangible Confidential Information shall be designated as confidential by ZELTIQ at the time of disclosure.

3.Recipient shall not be required to treat information as Confidential Information if such information:  (a) was already lawfully known to Recipient at the time of receipt from ZELTIQ; (b) was otherwise available to the public at the time of its receipt by Recipient from ZELTIQ; or (c) subsequently becomes published or available to the public other than by a breach of this Agreement.

4.Recipient immediately shall notify ZELTIQ upon discovery of any loss or unauthorized disclosure of the Confidential Information.

5.Recipient recognizes and agrees that nothing contained in this Agreement shall be construed as granting it any property rights, by license or otherwise, to any Confidential Information, or to any invention or any patent, copyright, trademark, or other intellectual property right that has issued or that may issue, based on such Confidential Information.  Recipient shall not make, have made, use or sell for any purpose any product or service or other item using, incorporating or derived from any Confidential Information absent separate written approval of ZELTIQ.  Recipient assigns to ZELTIQ all right, title and interest to any and all inventions solely or jointly conceived or developed by Recipient using any Confidential Information.

6.Recipient agrees promptly and fully to disclose to ZELTIQ any invention or other intellectual property, including trademarks, which Recipient may make, whether alone or jointly, resulting from use of Confidential Information, that all rights in any such invention or other intellectual property, including trademarks, shall belong solely to ZELTIQ and that Recipient will execute any documents or take such other action (at ZELTIQ's expense) as may be required to confirm such rights.

7.  Confidential Information shall not be reproduced in any form except as required to accomplish the intent of this Agreement.  Any reproduction of any Confidential Information shall remain the property of ZELTIQ and shall contain any and all confidential or proprietary notices or legends which appear on the original. Recipient agrees that any software programs contain valuable confidential information and agrees that it will not modify, reverse engineer, decompile, create other works from, or disassemble any software programs contained in the Confidential Information without the prior written consent of ZELTIQ.

8.This Agreement may be terminated by either party at any time upon thirty (30) days written notice to the other party. Recipient's obligations under this Agreement shall survive termination of the Agreement between the parties and shall be binding upon Recipient's heirs, successors and assigns. Upon termination of the Agreement, or upon written request of ZELTIQ, Recipient shall promptly return to the ZELTIQ all documents and other tangible materials representing the Confidential Information and all copies thereof.

9.This Agreement shall be governed by and construed in accordance with the laws of California. This Agreement sets forth the complete, exclusive and final statement of the agreement between the parties as to the subject matter hereof and supersedes all prior and contemporaneous agreements, understandings, negotiations and discussions, whether oral or written, between the parties regarding such subject matter.  This Agreement may not be amended except by a writing signed by both parties hereto. If any provision of this Agreement is found by a proper authority to be unenforceable or invalid such unenforceability or invalidity shall not render this Agreement unenforceable or invalid as a whole and in such event, such provision shall be changed and interpreted so as to best accomplish the objectives of such unenforceable or invalid provision within the limits of applicable law or applicable court decisions. Recipient will not assign or transfer any rights or obligations under this Agreement without the prior written consent of ZELTIQ.  Any such assignment without prior consent shall be null and void.  Recipient shall not export, directly or indirectly, any technical data acquired from ZELTIQ pursuant to this Agreement or any product utilizing any such data to any country for which the U.S. Government or any agency thereof at the time of export requires an export license or other governmental approval without first obtaining such license or approval. All notices or reports permitted or required under this Agreement shall be in writing and shall be delivered by personal delivery, electronic mail, facsimile transmission or by certified or registered mail, return receipt requested, and shall be deemed given upon personal delivery, five (5) days after deposit in the mail, or upon acknowledgment of receipt of electronic transmission. Notices shall be sent to the addresses set forth at the end of this Agreement or such other address as either party may specify in writing.  This Agreement may be executed in counterparts.

In Witness Whereof, the parties hereto have caused this Non-Disclosure Agreement to be executed and effective as of the Effective Date.

ZELTIQ AESTHETICS, INC.

	
					
	 
	 
	 
	 
	 

	By:
	/s/ Mitch Levinson
	 
	Date:
	July 28, 2009

	Print Name:
	Mitch Levinson
	 
	 
	 

	 
	 
	 
	 
	 

Recipient
	
					
	 
	 
	 
	 
	 

	By:
	/s/ Gordie Nye
	 
	Date:
	July 28, 2009

	Print Name:
	Gordie NyeExhibit 10.9 Q2

Exhibit 10.9
[COOLSCULPTING LOGO]
    
May 25, 2012                

Dennis J. Jarvis

Dear Dennis:
This letter sets forth the substance of the separation agreement (the “Separation Agreement”) that Zeltiq, Inc. (the “Company”) is offering to you to aid in your employment transition.    
1.Separation Date.  Your employment termination date will be May 29, 2012 (the “Separation Date”).  On the Separation Date, you will be paid all accrued salary, and all accrued but unused vacation time, less applicable deductions and withholdings.  You are entitled to these payments even if you do not sign this Agreement.   

2.Severance Benefits.  Upon signing this Separation Agreement, and allowing the releases contained herein to become effective, the Company will provide you with the following severance benefits:  

(i)    Severance Payments.  The Company will provide you with nine (9) months of continuing monthly base salary payments (less required deductions and withholdings) beginning on the Separation Date (the “Severance Payment Period”).  Severance will be paid in accordance with the Company's regular payroll practices, and beginning on the first payroll following expiration of the 7-day revocation period (as defined in Section 10 herein).
(ii)    COBRA Payments.  
(a)    Provided that you timely elect continuing health and dental coverage through COBRA, the Company will reimburse you for COBRA premium payments (for you and all covered dependents) during the Severance Payment Period or until you become eligible for coverage through a subsequent employer, whichever is earlier (the “COBRA Premiums”).    
(b)    Notwithstanding the foregoing, if the Company determines, in its sole discretion, that it cannot pay the COBRA Premiums without potentially incurring financial costs or penalties under applicable law (including, without limitation, Section 2716 of the Public Health Service Act), the Company instead shall pay to you, on the first day of each month, a fully taxable cash payment equal to the amount of the monthly COBRA premium you would be required to pay to continue your group health coverage (including coverage for any covered dependents) for that month (such amount, the “Special Cash Payments”).  In the event the Company opts for the Special Cash Payments, you could use, but would not be obligated to use, the Special Cash Payments toward the cost of COBRA premiums.  
(iii)    Vesting of Stock Options.  The vesting of your Company stock options will accelerate such that you will receive vesting of any such options which would have vested had you remained employed from the Separation Date through July 7, 2012.

3.Other Compensation or Benefits.  You acknowledge that, except as expressly provided in this Separation Agreement, you will not receive any additional compensation, severance, or benefits after the Separation Date.  Your stock options shall cease vesting as of the Separation Date and shall continue to be governed by the applicable stock option agreement and stock option plan.      

4.Expense Reimbursements. You agree that, within thirty (30) days after the Separation Date, you will submit your final documented expense reimbursement statement reflecting all business expenses you incurred through the Separation Date, if any, for which you seek reimbursement.  The Company will reimburse you for these expenses pursuant to its regular business practice.  

5.Return of Company Property.  Within two (2) weeks of the Separation Date, you will return any of the Company's property (except for the iPad and MAC Air laptop), documents and confidential information in your possession, custody, or control.

6.Confidential Information Obligations.  You acknowledge and agree to abide by your continuing obligations under your Employee Propriety Information and Inventions Agreement (the “Confidentiality Agreement”), a copy of which is attached hereto as Exhibit A.  You agree to sign and return to the Company the Termination Certificate attached to the Confidentiality Agreement.  

7.Nondisparagement.  You agree not to disparage the Company, its officers, directors, employees, shareholders, and agents, in any manner likely to be harmful to its or their business, business reputation or personal reputation; provided that you will respond accurately and fully to any question, inquiry or request for information when required by legal process.  The Company (through its officers and directors) agrees not to disparage you in any manner likely to be harmful to you or your business, business reputation or personal reputation; provided that the Company will respond accurately and fully to any question, inquiry or request for information when required by legal process.  

8.No Admissions.  You understand and agree that the promises and payments in consideration of this Agreement shall not be construed to be an admission of any liability or obligation by the Company to you or to any other person, and that the Company makes no such admission.

9.Release of Claims.  

a.General Release.  In exchange for the consideration under this Separation Agreement to which you would not otherwise be entitled, you hereby generally and completely release the Company and its directors, officers, employees, shareholders, partners, agents, attorneys, predecessors, successors, parent or subsidiary entities, 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 prior to or on the date you sign this Separation Agreement.  

b.Scope of Release.  This general release includes, but is not limited to: (1) all claims arising out of or in any way related to your employment with the Company or the termination of that employment; (2) all claims related to your compensation or benefits from the Company, including salary, bonuses, commissions, vacation pay, expense reimbursements, severance pay, fringe benefits, stock, stock options or any other ownership interests in the Company; (3) all claims for breach of contract, wrongful termination or breach of the implied covenant of good faith and fair dealing; (4) all tort claims, including claims for fraud, defamation, emotional distress and discharge in violation of public policy; and (5) 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, the federal Age Discrimination in Employment Act (the “ADEA”) (as amended), or the California Fair Employment and Housing Act (as amended).  

c.Excluded Claims.  Notwithstanding the foregoing, you are not hereby releasing the Company from any of the following claims (collectively, the “Excluded Claims”): (a) any rights or claims for indemnification you may have pursuant to any written indemnification agreement with the Company to which you are a party, the charter, bylaws, or operating agreements of the Company, or under applicable law; (b) any rights which cannot be waived as a matter of law; or (c) any claims arising from the breach of this Separation Agreement.  In addition, nothing in this Separation Agreement prevents you from filing, cooperating with, or participating in any proceeding before the Equal Employment Opportunity Commission, the Department of Labor, or the California Department of Fair Employment and Housing, except that you hereby waive your right to any monetary benefits in connection with any such claim, charge or proceeding.  You hereby represent and warrant that, other than the Excluded Claims, you are not aware of any claims you have or might have against the Company or its directors, officers, employees, shareholders, partners, agents, attorneys, predecessors, successors, parent or subsidiary entities, insurers, affiliates or assigns. 

10.ADEA Waiver.  You acknowledge that you are knowingly and voluntarily waiving and releasing any rights you may have under the ADEA (“ADEA Waiver”).  You also acknowledge that the consideration given for the ADEA Waiver is in addition to anything of value to which you were already entitled.  You further acknowledge that you have been advised by this writing, as required by the ADEA, that:  (a) your ADEA Waiver does not apply to any rights or claims that arise after the date you sign this Agreement; (b) you should consult with an attorney prior to signing this Agreement; (c) you have forty-five (45) days to consider this Agreement (although you may choose to voluntarily sign it sooner); (d) you have seven (7) days following the date you sign this Agreement to revoke (in a written revocation sent to me); and (e) this Agreement will not be effective until the date upon which the revocation period has expired, which will be the eighth day after you sign this Agreement (the “Effective Date”).  

11.Section 1542 Waiver.  In granting the release herein, which includes claims that may be unknown to you at present, you acknowledge that you have read and understand Section 1542 of the California Civil Code:  “A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected his or her settlement with the debtor.”  You hereby expressly waive and relinquish all rights and benefits under that section and any law or legal principle of similar effect in any 

jurisdiction with respect to the releases granted herein, including but not limited to the release of unknown and unsuspected claims granted in this Agreement.

12.No Voluntary Adverse Action; Cooperation.  You agree that you will not voluntarily assist any person in bringing or pursuing any claim or action of any kind against the Company or its parent, subsidiary, or affiliate entities, or their officers, directors, members, employees or agents, except in the course of a government investigation or as required by compulsion of law (including as required by subpoena or deposition notice).  In addition, you agree to cooperate fully with the Company in connection with its actual or contemplated defense, prosecution, or investigation of any claims or demands by or against third parties (e.g., demands to produce documents or testimony pursuant to subpoena), or other matters arising from events, acts, or failures to act that occurred during the period of your employment by the Company.  Such cooperation includes, without limitation, making yourself available to the Company upon reasonable notice, without subpoena, to provide truthful and accurate information in witness interviews with the Company or its counsel, and in deposition and trial testimony.  The Company will reimburse you for reasonable out-of-pocket expenses you may incur in connection with any such cooperation (excluding forgone wages, salary, or other compensation) and will make reasonable efforts to accommodate your scheduling needs.  In addition, you agree to execute all documents (if any) necessary to carry out the terms of this Agreement.

13.Confidentiality.  The provisions of this Agreement will be held in strictest confidence by you and the Company and will not be publicized or disclosed in any manner whatsoever; provided, however, that:  (a) you may disclose this Agreement to your immediate family; (b) the parties may disclose this Agreement in confidence to their respective attorneys, accountants, auditors, tax preparers, and financial advisors; (c) the Company may disclose this Agreement as necessary to fulfill standard or legally required corporate reporting or disclosure requirements; and (d) the parties may disclose this Agreement insofar as such disclosure may be necessary to enforce its terms or as otherwise required by law.   In particular, and without limitation, you agree not to disclose the terms of this Agreement to any current or former Company employee.

14.Representations.  You hereby represent that you have been paid all compensation owed and for all hours worked, you have received all the leave and leave benefits and protections for which you are eligible pursuant to FMLA, CFRA, or any applicable law or Company policy, and you have not suffered any on-the-job injury or illness for which you have not already filed a workers' compensation claim.

15.Miscellaneous.  This Separation Agreement, including Exhibit A, constitutes the complete, final and exclusive embodiment of the entire agreement between you and the Company with regard to its subject matter.  It is entered into without reliance on any promise or representation, written or oral, other than those expressly contained herein, and it supersedes any other such promises, warranties or representations, including without limitation any promises set forth in the Transition Agreement.  This Separation Agreement may not be modified or amended except in a writing signed by both you and a duly authorized officer of the Company.  This Separation Agreement will bind the heirs, personal representatives, successors and assigns of both you and the Company, and inure to the benefit of both you and the Company, their heirs, successors and assigns.  If any provision of this Separation Agreement is determined to be invalid or unenforceable, in whole or in part, this determination will not affect any other provision of this Separation Agreement and the provision in question will be modified so as to be rendered enforceable.  This Separation Agreement will be deemed to have been entered into and will be construed and enforced in accordance with the laws of the State of California as applied to contracts made and to be performed entirely within California.  Any ambiguity in this Agreement shall not be construed against either party as the drafter.  Any waiver of a breach of this Separation Agreement shall be in writing and shall not be deemed to be a waiver of any successive breach.  This Separation Agreement may be executed in counterparts and facsimile signatures will suffice as original signatures.

If this Separation Agreement is acceptable to you, please sign below and return the original to me.
We wish you the best in your future endeavors.
Sincerely,
ZELTIQ, INC.
	
		
	 
	 

	/s/ Sergio Garcia
	 

	Sergio Garcia
	 

	Senior Vice President, General Counsel and Corporate Secretary
	 

	 
	 

	Enclosure: Disclosure under 29 U.S.C. § 626(f)(1)(H)

	 

I have read, understand and agree fully to the foregoing separation agreement:

	
	
	 

	/s/ Dennis Jarvis

	Dennis Jarvis

	Dated: June 6, 2012

EXHIBIT A

CONFIDENTIALITY AGREEMENT AND INVENTION ASSIGNMENT AGREEMENT

As a condition of my becoming employed with (or my employment being continued by) ZELTIQ Aesthetics, Inc., a Delaware corporation, with any of its current or future subsidiaries, affiliates, successors or assigns (collectively, the "Company"), and in consideration of my employment or consulting relationship with the Company and my receipt of the compensation now and hereafter paid to me by the Company, I agree to the following:
1.    Employment Relationship.  I understand and acknowledge that this Agreement does not alter, amend or expand upon any rights I may have to continue in the employ of, or in a consulting relationship with, or the duration of my employment or consulting relationship with, the Company under any existing agreements between the Company and me or under applicable law.  Any employment or consulting relationship between the Company and me, whether commenced prior to or upon the date of this Agreement, shall be referred to herein as the "Relationship."
2.    At-Will Employment.  I understand and acknowledge that my Relationship with the Company is and shall continue to be at-will, as defined under applicable law, meaning that either I or the Company may terminate the Relationship at any time for any reason or no reason, without further obligation or liability.
3.    Confidential Information.
(a)    Company Information.  I agree at all times during the term of my Relationship with the Company and thereafter, to hold in strictest confidence, and not to use, except for the benefit of the Company, or to disclose to any person, firm, corporation or other entity without written authorization of the Board of Directors of the Company, any Confidential Information of the Company which I obtain or create.  I further agree not to make copies of such Confidential Information except as authorized by the Company.  I understand that “Confidential Information” means any Company proprietary information, technical data, trade secrets or know-how, including, but not limited to, research, product plans, products, services, suppliers, customer lists and customers (including, but not limited to, customers of the Company on whom I called or with whom I became acquainted during the Relationship), prices and costs, markets, software, developments, inventions, laboratory notebooks, processes, formulas, technology, designs, drawings, engineering, hardware configuration information, marketing, licenses, finances, budgets or other business information disclosed to me by the Company either directly or indirectly in writing, orally or by drawings or observation of parts or equipment or created by me during the period of my Relationship, whether or not during working hours, and any information pertaining to any aspects of the Company's business which is either information not known by actual or potential competitors of the Company or is proprietary information of the Company or its customers or suppliers, whether of a technical nature or otherwise.  I further understand that Confidential Information does not include any of the foregoing items which has become publicly and widely known and made generally available through no wrongful act of mine or of others who were under confidentiality obligations as to the item or items involved.
(b)    Former Employer Information.  I represent that my performance of all terms of this Agreement as an employee or consultant of the Company have not breached and will not breach any agreement to keep in confidence proprietary information, knowledge or data acquired by me in confidence or trust prior to the commencement of my Relationship with the Company, and I will not disclose to the Company, or induce the Company to use, any inventions, confidential or proprietary information or material belonging to any previous employer or any other party.
(c)    Third Party Information.  I recognize that the Company has received and in the future will receive from third parties their confidential or proprietary information subject to a duty on the Company's part to maintain the confidentiality of such information and to use it only for certain limited purposes.  I agree to hold all such confidential or proprietary information in the strictest confidence and not to disclose it to any person, firm or corporation or to use it except as necessary in carrying out my work for the Company consistent with the Company's agreement with such third party.
4.    Inventions.
(a)    Inventions Retained and Licensed.  I have attached hereto, as Exhibit A, a list describing with particularity all inventions, original works of authorship, developments, improvements, and trade secrets which were made by me prior to the commencement of the Relationship (collectively referred to as “Prior Inventions”), which belong solely to me or belong to me jointly with another, which relate in any way to any of the Company's proposed businesses, products or research and development, and which are not assigned to the Company hereunder; or, if no such list is attached, I represent that 

there are no such Prior Inventions.  If, in the course of my Relationship with the Company, I incorporate into a Company product, process or machine a Prior Invention owned by me or in which I have an interest, the Company is hereby granted and shall have a non-exclusive, royalty-free, irrevocable, perpetual, worldwide license (with the right to sublicense) to make, have made, copy, modify, make derivative works of, use, sell and otherwise distribute such Prior Invention as part of or in connection with such product, process or machine.
(b)    Assignment of Inventions.  I agree that I will promptly make full written disclosure to the Company, will hold in trust for the sole right and benefit of the Company, and I hereby assign to the Company, or its designee, all my rights, title and interest throughout the world in an to any all inventions, original work of authorship, developments, improvements, concepts, know-how, improvements or trade secrets, whether or not patentable or registrable under copy rights or similar laws, which I may solely or jointly conceive or develop or reduce to practice, or cause to be conceived or developed or reduced to practice, during the period of time in which I am employed by or a consultant of the Company (collectively referred to as "Inventions"), except as provided in Section 4(e) below.  I further acknowledge that all inventions, original works of authorship, developments, concepts, know-how, improvements or trade secrets which are made by me (solely or jointly with others) within the scope of and during the period of my Relationship with the Company are "works made for hire" (to the greatest extent permitted by applicable law) and are compensated by my salary (if I am an employee) or by such amounts paid to me under any applicable consulting agreement (if I am a consultant), unless regulated otherwise by the mandatory law of the state of California.
 (c)    Maintenance of Records.  I agree to keep and maintain adequate and current written records of all Inventions made by me (solely or jointly with others) during the term of my Relationship with the Company.  The records may be in the form of notes, sketches, drawings, flow charts, electronic data or recordings, laboratory notebooks, and any other format.  The records will be available to and remain the sole property of the Company at all times.  I agree not to remove such records from the Company's place of business except as expressly permitted by Company policy which may, from time to time, be revised at the sole election of the Company for the purpose of furthering the Company's business.
(d)    Patent and Copyright Rights.  I agree to assist the Company, or its designee, at the Company's expense, in every proper way to secure the Company's rights in the Inventions and any copyrights, patents, trademarks, mask work rights, moral rights, or other intellectual property rights relating thereto in any and all countries, including the disclosure to the Company of all pertinent information and data with respect thereto, the execution of all applications, specifications, oaths, assignments, recordations, and all other instruments which the Company shall deem necessary in order to apply for, obtain, maintain and transfer such rights and in order to assign and convey to the Company, its successors, assigns and nominees the sole and exclusive rights, title and interest in and to such Inventions, and any copyrights, patents, mask work rights or other intellectual property rights relating thereto.  I further agree that my obligation to execute or cause to be executed, when it is in my power to do so, any such instrument or papers shall continue after the termination of this Agreement until the expiration of the last such intellectual property right to expire in any country of the world.  If the Company is unable because of my mental or physical incapacity or unavailability or for any other reason to secure my signature to apply for or to pursue any application for any United States or foreign patents or copyright registrations covering Inventions or original works of authorship assigned to the Company as above, then I hereby irrevocably designate and appoint the Company and its duly authorized officers and agents as my agent and attorney in fact, to act for and in my behalf and stead to execute and file any such applications and to do all other lawfully permitted acts to further the application for, prosecution, issuance, maintenance or transfer of letters patent or copyright registrations thereon with the same legal force and effect as if originally executed by me.  I hereby waive and irrevocably quitclaim to the Company any and all claims, of any nature whatsoever, which I now or hereafter have for infringement of any and all proprietary rights assigned to the Company.
(e)    Maintenance of Records.  I understand that the provisions of this Agreement requirement assignment of Inventions to the Company do not apply to any invention which qualifies fully under the provisions of California Labor Code Section 2870 (attached hereto as Exhibit B).  I will advise the Company promptly in writing of any inventions that I believe meet such provisions and are not otherwise disclosed on Exhibit A.
5.    Returning Company Documents.  I agree that, at the time of termination of my Relationship with the Company, I will deliver to the Company (and will not keep in my possession, recreate or deliver to anyone else) any and all  devices, records, data, notes, reports, proposals, lists, correspondence, specifications, drawings, blueprints, sketches, laboratory notebooks, materials, flow charts, equipment, other documents or property, or reproductions of any aforementioned items developed by me pursuant to my Relationship or otherwise belonging to the Company, its successors or assigns.  I further agree that to any property situated on the Company's premises and owed by the Company, including disks and other storage media, filing cabinets or other work areas, is subject to inspection by Company personnel at any time with or without notice.  In the event of the termination of the Relationship, I agree to sign and deliver the “Termination Certification” attached hereto as Exhibit C.

6.    Notification to Other Parties.
(a)    Employees.  In the event that I leave the employ of the Company, I hereby consent to notification by the Company to my new employer about my rights and obligations under this Agreement.
(b)    Consultants.  I hereby grant consent to notification by the Company to any other parties besides the Company with whom I maintain a consulting relationship, including parties with whom such relationship commences after the effective date of this Agreement, about my rights and obligations under this Agreement.
7.    Solicitation of Employees, Consultants and Other Parties.  I agree that during the term of my Relationship with the Company, and for a period of twelve (12) months immediately following the termination of my Relationship with the Company for any reason, whether with or without cause, I shall not either directly or indirectly solicit, induce, recruit or encourage any of the Company's employees or consultants to terminate their relationship with the Company, or take away such employees or consultants, or attempt to solicit, induce, recruit, encourage or take away employees or consultants of the Company, either for myself or for any other person or entity.  Further, for a period of twelve (12) months following termination of my Relationship with the Company for any reason, with or without cause, I shall not solicit any licensor to or customer of the Company or licenses of the Company's products, in each case, that are known to me, with respect to any business, products or services that are competitive to the products or services offered by the Company.   

8.    Representations and Covenants.
(a)    Facilitation of Agreement.  I agree to execute promptly any proper oath or verify any proper document required to carry out the terms of this Agreement upon the Company's written request to do so.
(b)    Conflicts.  I represent that my performance of all the terms of this Agreement will not breach any agreement to keep in confidence proprietary information acquired by me in confidence or in trust prior to commencement of my employment with the Company.  I have not entered into, and I agree I will not enter into, any oral or written agreement in conflict with any of the provisions of this Agreement.
(c)    Voluntary Execution.  I certify and acknowledge that I have carefully read all of the provisions of this Agreement and that I understand and will fully and faithfully comply with such provisions.
9.    General Provisions.
(a)    Governing Law.  The validity, interpretation, construction and performance of this Agreement shall be governed by the laws of the State of California, without giving effect to the principles of conflict of laws.
(b)    Entire Agreement.  This Agreement sets forth the entire agreement and understanding between the Company and me relating to the subject matter herein and merges all prior discussions between us.  No modification or amendment to this Agreement, nor any waiver of any rights under this Agreement, will be effective unless in writing signed by the party to be charged.  Any subsequent change or changes in my duties, obligations, rights or compensation will not affect the validity or scope of this Agreement.
(c)    Severability.  If one or more of the provisions in this Agreement are deemed void by law, then the remaining provisions will continue in full force and effect.
(d)    Successors and Assigns.  This Agreement will be binding upon my heirs, executors, administrators and other legal representatives and will be for the benefit of the Company, its successors, and its assigns.
(e)    Survival.  The provisions of this Agreement shall survive the termination of my employment and the assignment of this Agreement by the Company to any successor in interest or other assignee.
(f)    ADVICE OF COUNSEL.  I ACKNOWLEDGE THAT, IN EXECUTING THIS AGREEMENT, I HAVE HAD THE OPPORTUNITY TO SEEK THE ADVICE OF INDEPENDENT LEGAL COUNSEL, AND I HAVE READ AND UNDERSTOOD ALL OF THE TERMS AND PROVISIONS OF THIS AGREEMENT.  THIS AGREEMENT SHALL NOT BE CONSTRUED AGAINST ANY PARTY BY REASON OF THE DRAFTING OR PREPARATION HEREOF.

	
			
	COMPANY
	 
	EMPLOYEE

	ZELTIQ AESTHETICS, INC.
	 
	DENNIS JARVIS, an Individual:

	/s/ Ragan Reppond
	 
	/s/ Dennis Jarvis

	Signature
	 
	Signature

	 
	 
	Dennis Jarvis

	By: Ragan Reppond
	 
	Printed Name

	Title: Manager of Administration
	 
	 

	Date: November 22, 2010
	 
	Date: November 22, 2010

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