Document:

Exhibit 10.9 

EXECUTIVE EMPLOYMENT
AGREEMENT 

        THIS
AGREEMENT is effective as of the 1st day of October, 2007, by and between,
Disaboom, Inc., a Colorado corporation (the “Employer” or “Company”)
and Dr. J. Glen House (the “Executive”). In consideration of the mutual
covenants contained in this Agreement, the Employer agrees to employ the Executive and the
Executive agrees to be employed by the Employer upon the terms and conditions hereinafter
set forth. 

ARTICLE 1 
TERM OF EMPLOYMENT 

    1.1        Initial
Term. The initial term of employment hereunder shall commence as of the effective day
first written above (“Commencement Date”) and shall continue for a period of
three years from that date.  

    1.2        Renewal;
Non- Renewal Benefits to Executive. At the end of the initial term of this Agreement,
and on each anniversary thereafter, the term of Executive’s employment shall be
automatically extended one additional year unless, at least 90 days prior to such
anniversary, the Executive shall have delivered to the Employer written notice that the
term of the Executive’s employment hereunder will not be extended. The Employer
shall have the right to provide such non-renewal notice to Executive, on the same terms
and conditions.  

ARTICLE 2 
DUTIES OF THE
EXECUTIVE 

    2.1        Duties.
The Executive shall be employed with the titles of Chief Medical Officer and Executive
Director of Content with responsibilities, objectives and authorities as are customarily
performed by such officers including, but not limited to those duties as may from time to
time be assigned to Executive by the Chief Executive Officer or Board of Directors of
Employer. You will report directly to the Chief Executive Officer of Employer.  

    2.2        Extent
of Duties. Executive shall devote all of his working time, efforts, attention and
energies to the business of the Employer.  

ARTICLE 3
COMPENSATION OF THE
EXECUTIVE 

    3.1        Salary.  

         
          a.       
          Employer and Executive acknowledge and understand that Executive continues to
          practice medicine and is involved with other companies and as such cannot work
          for Employer on a full-time basis. As compensation for services rendered under
          this Agreement, the Executive will receive a salary of $150,000 per year while
          Executive works part time for Employer, which shall be his base compensation.
          Executive’s salary is payable in accordance with Employer’s normal
          business practices. 

Page 1 of 10   

         
          b.       
          If and when Executive is able to devote his efforts and time to Employer on a
          full-time basis, then Executive’s base compensation shall be increased to a
          minimum of $200,000 per year thereafter, commensurate with that of the most
          senior executive officer of the Company. 

    3.2        Annual
Bonus. In addition to your Salary and Benefits specified herein, Executive shall also
be eligible for an annual incentive compensation payment based on the achievement of
milestones to be mutually agreed upon by the Executive and the Company.  

    3.3        Benefits.
Executive shall be entitled to vacation and holidays as customarily extended to executive
employees. Executive shall be entitled to participate in all of Employer’s employee
benefit plans and employee benefits, including any retirement, pension, profit-sharing,
stock option, insurance, hospital or other plans and benefits which now may be in effect
or which may hereafter be adopted, it being understood that Executive shall have the same
rights and privileges to participate in such plans and benefits as any other executive
employee during the term of this Agreement. Participation in any benefit plans shall be
in addition to the compensation otherwise provided for in this Agreement.  

    3.4        Expenses.  

         
          a.       
          Executive shall be entitled to prompt reimbursement in accordance with Company
          policy for all reasonable expenses incurred by Executive in the performance of
          his duties hereunder. 

ARTICLE 4 
NON-COMPETITION;
CONFIDENTIALITY 

    4.1        During
the term of this Agreement, the Executive may make passive investments in companies
generally involved in the Internet industry in which the Company operates, subject to the
terms of paragraph 4.3 hereof, and provided any such investment does not exceed a 5%
equity interest, unless Executive obtains a consent to acquire an equity interest
exceeding 5% by a vote of a majority of the directors.  

    4.2        For
purposes of this Article 4, the Company is engaged in the business of operating a
comprehensive website and online community for people living with disabilities. Except as
provided in paragraphs 4.1 hereof, the Executive may not participate in any business in
which the Company is engaged during the term of this Agreement except through and on
behalf of the Company, provided however, that Executive’s activities in Colorado
Catheter Company are hereby specifically excluded from this restriction;  

Page 2 of 10  

    4.3
       During
the term of this Agreement and for one year following termination of this Agreement, the
Executive shall not own, manage, operate, control, be employed by, participate in, or be
connected in any manner with the ownership, management, operation or control of any
business which is directly engaged in the type of business conducted by the Employer at
the time this Agreement terminates. In the event of the Executive’s actual or
threatened breach of this paragraph, the Employer shall be entitled to a preliminary
restraining order and injunction restraining the Executive from violating its provisions.
Nothing in this Agreement shall be construed to prohibit the Employer from pursuing any
other available remedies for such breach or threatened breach, including the recovery of
damages from the Executive. Employee agrees that this one year restriction is reasonable
in scope. Executive and Employer agree that Executive’s practice of medicine and
knowledge of an involvement in the medical community for people living with disabilities
is beneficial to the Employer and that Executive’s continued practice of medicine,
involvement in Colorado Catheter Company, involvement in the medical community, academic
writing, and product research and development do not constitute a breach of this
paragraph 4.3.  

    4.4        Executive
agrees that unless otherwise agreed to in writing between Executive and Employer, upon
request or at the time of leaving the employ of Employer he will deliver to the Employer
(and will not keep in his possession, recreate, or deliver to anyone else) any and all
books, records, files, forms, memoranda, letters, notes, notebooks, papers, agreements,
business plans, marketing and media plans, financial statements and records, customer and
supplier lists and identities, customer information accounts, data, notes, reports,
proposals, lists, correspondence, specifications, drawings, flow-charts, blueprints,
sketches, materials, programs, equipment, other documents, writings, recordable
electronic media and similar materials or property, or reproductions of any
aforementioned items developed by him within the scope of and pursuant to his employment
with Employer or otherwise belonging to the Employer, its successors, or assigns.
Executive agrees that such property is the exclusive property of Employer.  

    4.5
       In
the event that Executive leaves the employ of Employer, Executive hereby grants consent
to written notification by Employer to his new employer about his rights and obligations
under this Agreement. A copy of such written notification will be provided to Executive
at the same time it is provided to his new employer.  

    4.6        Employer
Information.  Executive agrees at all times during the term of his employment and
thereafter to hold in strictest confidence, and not to use, except for the benefit of the
Employer, or to disclose, make known, divulge or communicate, directly or indirectly, to
any person, firm, corporation or other entity without the prior written authorization of
the Employer, any Confidential Information of the Employer. Executive understands that
all Confidential Information is the sole and exclusive property of the Employer or of
third parties whose rights the Employer wishes to protect. Executive will be vigilant in
protecting all Confidential Information from disclosure to unauthorized persons and will
comply with all rules and instructions of the Employer concerning the physical,
intellectual, and electronic security of the Employer’s premises, property and
records. Executive understands that “Confidential Information” means,
without limitation, any Employer proprietary information, intellectual property, patents,
trademarks, copyrights, technical data, trade secrets or know-how, including, but not
limited to, research, methods, business plans, products, services, price lists, customer
lists, customer information and customers (including, but not limited to, customers of
the Employer on whom Employee called or with whom Employee became acquainted during the
term of his employment), markets, software, developments, inventions, processes,
formulas, technology, designs, drawings, engineering, hardware configuration information,
marketing, finances, third party information or products, or other business information
disclosed to Executive by the Employer either directly or indirectly, whether orally, in
writing, or by drawings or observation of parts or equipment. Executive understands that
the Board of Directors of Employer may from time to time reasonably designate as
Confidential Information other subject matters requiring confidentiality and secrecy
which shall be deemed to be covered by the terms of this Agreement. Executive further
understands that Confidential Information does not include any of the foregoing items
which has become publicly known and made generally available through no wrongful act of
his or of others who were under confidentiality obligations as to the item or items
involved.  

Page 3 of 10  

         
          b.       
          Third Party Information.  Executive recognizes that the Employer has
          received and in the future will receive from third parties their confidential or
          proprietary information subject to a duty on the Employer’s part to
          maintain the confidentiality of such information and to use it only for certain
          limited purposes. Executive agrees to hold all such confidential or proprietary
          information in the strictest confidence and not to disclose it to any natural
          person, firm, or corporation or other entity or to use it except as necessary in
          carrying out his work for the Employer consistent with the Employer’s
          agreement with such third party. 

         
          d.       
          In the event of a breach or threatened breach by the Executive of the provisions
          of this paragraph 4.7, the Employer shall be entitled to an injunction (i)
          restraining the Executive from disclosing, in whole or in part, any information
          as described above or from rendering any services to any person, firm,
          corporation, association or other entity to whom such information, in whole or
          in part, has been disclosed or is threatened to be disclosed; and/or (ii)
          requiring that Executive deliver to Employer all information, documents, notes,
          memoranda and any and all other material as described above upon
          Executive’s leave of the employ of the Employer. Nothing herein shall be
          construed as prohibiting the Employer from pursuing other remedies available to
          the Employer for such breach or threatened breach, including the recovery of
          damages from the Executive. 

    4.8        In
order to protect the Confidential Information of the Company and avoid injury to the
Company, Executive agrees that for two years following the termination of Executive’s
employment with the Company:  

         
          a.       
          Executive will not directly or indirectly solicit the customers or demonstrably
          prospective customers of the Company to purchase products or services which are
          reasonably deemed to be competitive with those of the Company, provided however,
          that Executive’s activities with Colorado Catheter Company are hereby
          specifically excluded from this restriction; 

         
          b.       
          Executive will not directly or indirectly solicit or in any manner encourage
          employees of the Company to leave its employ; and 

         
          c.       
          Executive will not accept employment from or with any company which is directly
          competitive with the Business of the Company. Executive specifically agrees that
          this Section 4.8.c will not place an undue burden on Executive and that
          Executive’s agreement to this Section 4.8.c will not significantly limit
          Executive’s employment opportunities and mobility. 

Page 4 of 10 

         
          d.       
          Executive agrees that these restrictions are reasonable in scope. If any of the
          provisions of this paragraph 4.8 are found by a court of competent jurisdiction
          to be invalid under the laws of the State of Colorado, then this paragraph shall
          be deemed enforceable to the maximum extent permissible under Colorado law. 

ARTICLE 5 
OWNERSHIP OF
INTELLECTUAL PROPERTY 

    5.1
       Inventions.
Executive and Employer agree that Executive shall have the right to develop, create, and
invent medical related products and procedures (collectively “Inventions”) and
that such is outside the scope of Executive’s employment with Employer.  

    5.2        Original
Works. Executive and Employer agree and acknowledge that in the course of Executive’s
practice of medicine, Executive may from time to time engage in scholarly writing,
speaking at seminars, or the creation of other educational material (collectively “Original
Works”) and that such Original Works are outside the scope of Executive’s
employment with Employer.  

    5.3        Ownership
of Intellectual Property Rights. Executive shall own all intellectual property rights
associated with such Inventions and Original Works including but not limited to all
patents, copyrights, trademarks, trade dress, and trade secrets. Executive shall have no
obligation to share or disclose such Inventions and Original Works with Employer.  

    5.4        No
Breach. It is hereby agreed that Executive’s creation or involvement in the
creation of such Inventions and Original Works does not violate the provisions of or
constitute a breach of Article 4 of this Agreement.  

ARTICLE 6 
TERMINATION OF
EMPLOYMENT 

    6.1        Termination.
 The Executive's  employment  hereunder may be terminated without any breach of this
Agreement only under the following circumstances: 

         
          a.       
          By Executive. Upon the occurrence of any of the following events, this
          Agreement may be terminated by the Executive by written notice to Employer: 

         
          
          1.       
          if Employer makes a general assignment for the benefit of creditors, files a
          voluntary bankruptcy petition, files a petition or answer seeking a
          reorganization, arrangement, composition, readjustment, liquidation, dissolution
          or similar relief under any law, or there shall have been filed any petition or
          application for the involuntary bankruptcy of Employer, or other similar
          proceeding, in which an order for relief is entered or which remains undismissed
          for a period of thirty days or more, or Employer seeks, consents to, or
          acquiesces in the appointment of a trustee, receiver, or liquidator of Employer
          or any material part of its assets; 

Page 5 of 10 

         
          
          2.       
          the sale by Employer of substantially all of its assets; 

         
          
          3.       
          a decision by Employer to terminate its business and liquidate its assets.

         
          b.       
          Death. This Agreement shall terminate upon the death of Executive. 

         
          c.       
          Disability. The Employer may terminate this Agreement upon the permanent
          disability of the Executive. Executive shall be considered disabled (whether
          permanent or temporary) if: (i) he is disabled as defined in a disability
          insurance policy purchased by or for the benefit of the Executive; or (ii) if no
          such policy is in effect, he is incapacitated to such an extent that he is
          unable to perform substantially all of his duties for Employer that he performed
          prior to such incapacitation. 

         
          d.       
          Cause. The Employer may terminate the Executive’s employment
          hereunder for Cause. For purposes of this Agreement, the Employer shall have
          “Cause” to terminate the Executive’s employment hereunder upon
          the following: (i) the continued failure by the Executive substantially to
          perform his duties hereunder (other than any such failure resulting from the
          Executive’s incapacity due to physical or mental illness), after demand for
          substantial performance is delivered by the Employer and Executive fails to
          substantially perform in the 30 days following receipt of Employer’s
          demand; or (ii) misconduct by the Executive which is materially injurious to the
          Employer, monetarily or otherwise; or (iii) the willful violation by the
          Executive of the provisions of this Agreement. For purposes of this Section, no
          act, or failure to act, on the part of the Executive shall be considered
          “willful” unless done, or omitted to be done, not in good faith and
          without reasonable belief by him that his action or omission was in the best
          interest of the Employer. 

    6.2        Notice
of Termination. Any termination of the Executive’s employment by the Employer or
by the Executive (other than termination pursuant to subsection 6.1.b above) shall be
communicated by written Notice of Termination to the other party.  

    6.3        Date
of Termination. “Date of Termination” shall mean (i) if the Executive’s
employment is terminated by his death, the date of his death; (ii) if the Executive’s
employment is terminated for Cause, the date on which a Notice of Termination is received
by the Executive; and (iii) if the Executive’s employment is terminated for any
other reason stated above, the date specified in a Notice of Termination by Employer or
Executive, which date shall be no less than 30 days following the date on which Notice of
Termination is given.  

    6.4        Compensation
Upon Termination.  

         
          a.       
          Following the termination of this Agreement pursuant to Section 6.1.a, the
          Executive shall be entitled to compensation only through the Date of
          Termination. 

         
          b.       
          Following the termination of this Agreement pursuant to Section 6.1.b, Employer
          shall pay to Executive’s estate the compensation which would otherwise be
          payable to Executive to the end of the month in which his death occurs. This
          payment shall be in addition to life insurance benefits, if any, paid to
          Executive’s estate under policies for which the Employer pays all premiums
          and Executive’s estate is the beneficiary. It will also include all rights
          and obligations of Employer under the Stock Option Agreement appended hereto in
          the Form of Exhibit A. 

Page 6 of 10 

         
          c.       
          In the event of permanent disability of the Executive as described in Section
          6.1.c, if Employer elects to terminate this Agreement, Executive shall be
          entitled to receive compensation and benefits through the Date of Termination;
          any such payment, however, shall be reduced by disability insurance benefits, if
          any, paid to Executive under policies (other than group policies) for which
          Employer pays all premiums and Executive is the beneficiary. 

         
          d.       
          If Executive is terminated by Employer for any reason other than Death,
          Disability or Cause as set forth in this Article 6, then Executive is entitled
          to a severance payment equal to one year salary under this Agreement. 

    6.5        Remedies.
Any termination of this Agreement shall not prejudice any other remedy to which the
Employer or Executive may be entitled, either at law, equity, or under this Agreement.  

ARTICLE 7 
INDEMNIFICATION 

    7.1        To
the fullest extent permitted by applicable law, Employer agrees to indemnify, defend and
hold Executive harmless from any and all claims, actions, costs, expenses, damages and
liabilities, including, without limitation, reasonable attorneys’ fees, hereafter or
heretofore arising out of or in connection with activities of Employer or its employees,
including Executive, or other agents in connection with and within the scope of this
Agreement or by reason of the fact that he is or was a director or officer of Employer or
any affiliate of Employer. To the fullest extent permitted by applicable law, Employer
shall advance to Executive expenses of defending any such action, claim or proceeding.
However, Employer shall not indemnify Executive or defend Executive against, or hold him
harmless from any claims, damages, expenses or liabilities, including attorneys’ fees,
resulting from the gross negligence or willful misconduct of Executive. The duty to
indemnify shall survive the expiration or early termination of this Agreement as to any
claims based on facts or conditions which occurred or are alleged to have occurred prior
to expiration or termination.  

ARTICLE 8 
GENERAL PROVISIONS 

    8.1        Governing
Law. This Agreement shall be governed by and construed in accordance with the lawsof the
State of Colorado.  

    8.2        Arbitration.
Any controversy or claim arising out of or relating to this Agreement or the breach
thereof shall be settled by arbitration in the City and County of Denver, Colorado in
accordance with the rules then existing of the American Arbitration Association and
judgment upon the award may be entered in any court having jurisdiction thereof.  

Page 7 of 10 

    8.3        Entire
Agreement. This Agreement supersedes any and all other Agreements, whether oral or in
writing, between the parties with respect to the employment of the Executive by the
Employer. Each party to this Agreement acknowledges that no representations, inducements,
promises, or agreements, orally or otherwise, have been made by either party, or anyone
acting on behalf of any party, that are not embodied in this Agreement, and that no
agreement, statement, or promise not contained in this Agreement shall be valid or
binding.  

    8.4        Successors
and Assigns. This Agreement, all terms and conditions hereunder, and all remedies
arising herefrom, shall inure to the benefit of and be binding upon Employer, any
successor in interest to all or substantially all of the business and/or assets of
Employer, and the heirs, administrators, successors and assigns of Executive. Except as
provided in the preceding sentence, the rights and obligations of the parties hereto may
not be assigned or transferred by either party without the prior written consent of the
other party.  

    8.5        Notices.
For purposes of this Agreement, notices, demands and all other communications provided
for in this Agreement shall be in writing and shall be deemed to have been duly given
when delivered or mailed by United States registered mail, return receipt requested,
postage prepaid, addressed as follows:  

			
		Executive:     

               

               

               

Employer:      

               

               

               

               

               

With a copy to:

               

               

               

               
	
Dr. J. Glen House          

15575 Winding Trail Road   

Colorado Springs, CO  80908

Phone: (719) 238-7268      

Fax:                       

Disaboom, Inc.

Attn: Chief Executive Officer

7730 E. Belleview Ave

Suite A-306

Greenwood Village, CO 80111

Phone:  (720) 407-6530

Theresa M. Mehringer, Esq.

Burns Figa & Will, P.C.

6400 South Fiddlers Green Circle, Suite 1000

Greenwood Village, CO 80111

Phone: 303-796-2626

or to such other address as either
party may have furnished to the other in writing in accordance herewith, except that
notices of change of address shall be effective only upon receipt. 

Page 8 of 10 

    8.6        Severability.
If any provision of this Agreement is prohibited by or is unlawful or unenforceable under
any applicable law of any jurisdiction as to such jurisdiction, such provision shall be
ineffective to the extent of such prohibition without invalidating the remaining
provisions hereof.  

    8.7        Section
Headings. The section headings used in this Agreement are for convenience only and
shall not affect the construction of any terms of this Agreement.  

    8.8        Survival
of Obligations. Termination of this Agreement for any reason shall not relieve
Employer or Executive of any obligation accruing or arising prior to such termination.  

    8.9        Amendments.
 This  Agreement  may be  amended  only by written  agreement  of both  Employer  and
Executive. 

    8.10        Fees
and Costs. If any action at law or in equity is necessary to enforce or interpret the
terms of this Agreement, the prevailing party shall be entitled to reasonable attorneys’ fees,
costs and necessary disbursements in addition to any other relief to which that party may
be entitled.  

Page 9 of 10 

        IN
WITNESS WHEREOF, Employer and Executive enter into this Executive Employment Agreement
effective as of the date first set forth above. 

		
		DISABOOM, INC. - "EMPLOYER"

By /s/ David Petso

     David Petso, Compensation Committee Chair

Dr. J. Glen House - "EXECUTIVE"

Signed /s/ J. Glen House

         
    Dr. J. Glenn House, Individually 

Page 10 of 10Exhibit 10.1

 

SEPARATION AGREEMENT AND RELEASE

 

This Separation Agreement and Release (“Agreement”) is made by and
between William A. Owen (“Employee”) and Outdoor Channel Holdings, Inc. (“Company”)
(collectively referred to as the “Parties” or individually referred to as a “Party”).

 

WHEREAS,
Employee is employed by the Company;

 

WHEREAS, the Company and Employee have entered into the
following Stock Option Award Agreements (or similar agreements) granting
Employee the option to purchase shares of common stock of the Company subject
to the terms and conditions thereof (collectively the “Owen Option Agreements”):

 

November 13, 2003 (62,500 shares);

November 13, 2003 (subsequently approved by the
Company’s shareholders on September 8, 2004) (437,500 shares); and

June 3, 2006 (10,000 shares);

 

WHEREAS, the Company and Employee have entered into
the following Restricted Shares Award Agreements (or similar agreements)
granting Employee shares of common stock of the Company subject to the terms
and conditions thereof (collectively, and with the Owen Option Agreements, the “Owen
Equity Agreements”):

 

June 3, 2006 (500 shares);

January 24, 2007 (30,000 shares); and

June 3, 2007 (5,000 shares);

 

WHEREAS the shares to be issued to Employee upon the
exercise and/or vesting of the Owen Equity Agreements are currently registered
with the United States Securities and Exchange Commission on Form S-8s and
the Company agrees to use its reasonable efforts to maintain, or cause to be
maintained, such registration statements;

 

WHEREAS, the Company and Employee have entered into an Indemnification
Agreement dated on or about September 13, 2004 (the “Indemnification
Agreement”);

 

WHEREAS, Employee will resign from employment with the Company
effective at the close of business on December 14, 2007 (the “Separation
Date”); and

 

WHEREAS, the Parties wish
to resolve any and all disputes, claims, complaints, grievances, charges,
actions, petitions, and demands that the Employee may have against the Company
and any of the Releasees as defined below, including, but not limited to, any
and all claims arising out of, or in any way related to Employee’s employment
with, or separation from, the Company;

 

NOW, THEREFORE, in consideration of the mutual promises made herein,
the Company and Employee hereby agree as follows:

 

 

1.             Consideration.

 

a.             Payment.  The Company
agrees to pay Employee a lump-sum of One Hundred Fifty Two Thousand Dollars ($152,000),
less applicable withholding, on or about January 9, 2008 (the Company’s
first normal payroll date in January 2008).

 

b.             Acceleration of Unvested Options. 
The Company agrees to accelerate to December 14, 2007 the vesting date
of (i) the remaining unvested 25,000 options granted to Employee under
that certain Option Award Agreement dated November 13, 2003 (subsequently
approved by the Company’s shareholders on September 8, 2004) and (ii) the
remaining unvested 7,500 options granted to Employee under that certain Option
Award Agreement dated June 3, 2006.

 

c.             Consulting.  Commencing on
December 15, 2007, Employee shall make himself available to serve as a
consultant to the Company through December 15, 2008, pursuant to the
written consulting agreement (the “Consulting Agreement”) attached hereto as Exhibit A.

 

d.             COBRA.  The Company
shall reimburse Employee for the payments Employee makes for COBRA coverage for
a period of twelve (12) months, or until Employee has secured other employment
and becomes eligible for health insurance benefits, whichever occurs first provided
Employee timely elects and pays for COBRA coverage.  COBRA reimbursements shall be made by the
Company to Employee consistent with the Company’s normal expense reimbursement
policy, provided that Employee submits documentation to the Company
substantiating his payments for COBRA coverage, with such reimbursement
occurring within 30 days of Employee’s submission of said documentation.

 

e.             Letter of Recommendation. 
Upon request, the Company agrees to use its reasonable efforts to
provide Employee with a letter of recommendation signed by a senior executive
of the Company substantially in the form attached hereto as Exhibit B, for
use by Employee in seeking employment.

 

f.              Legal Fees.  The Company
shall reimburse Employee up to Ten Thousand Dollars ($10,000) for the fees
associated with his consultation with an attorney regarding Employee’s
separation from the Company and his attorney’s review and negotiation of this
Agreement and the Consulting Agreement. 
Such reimbursement shall be made by the Company to Employee consistent
with the Company’s normal expense reimbursement policy, provided that Employee
submits documentation to the Company substantiating his payments for fees
incurred by his attorney’s review of this Agreement and the Consulting
Agreement.

 

2.             Benefits.  Employee’s
health insurance benefits shall cease on December 31, 2007, subject to
Employee’s right to continue his health insurance and any other
insurance-related benefits under COBRA.  Employee’s
participation in all benefits and incidents of employment, including, but not limited
to, the accrual of bonuses, vacation, and paid time off, will cease as of the
Separation Date.

 

3.             Payment of Salary.  Employee
acknowledges and represents that, other than the consideration set forth in
this Agreement, the Company will have paid by the Separation Date all salary,
wages, bonuses (including the $63,000 bonus for attaining certain previously
established 

 

2

 

objectives in 2007),
accrued vacation/paid time off, housing allowances, relocation costs, interest,
severance, outplacement costs, fees, commissions, and any and all other
benefits and compensation due to Employee.

 

4.             Release of Claims.  Employee
agrees that the foregoing consideration represents settlement in full of all
outstanding obligations owed to Employee by the Company, Outdoor Channel
Holdings, Inc., and their current and former officers, directors,
employees, agents, investors, attorneys, shareholders, administrators,
affiliates, divisions, and subsidiaries, and predecessor and successor
corporations and assigns (the “Releasees”). 
Employee, on his own behalf, and on behalf of his respective heirs,
family members, executors, agents, and assigns, hereby and forever releases the
Releasees from, and agrees not to sue concerning, or in any manner to
institute, prosecute or pursue, any claim, complaint, charge, duty, obligation,
or cause of action relating to any matters of any kind, whether presently known
or unknown, suspected or unsuspected, that Employee may possess against any of
the Releasees arising from any omissions, acts, facts, or damages that have
occurred up until and including the Effective Date of this Agreement,
including, without limitation:

 

a.             any and all claims relating to or arising
from Employee’s employment relationship with the Company and the termination of
that relationship;

 

b.             any and all claims relating to, or
arising from, Employee’s right to purchase, or actual purchase of shares of
stock of the Company, including, without limitation, any claims for fraud,
misrepresentation, breach of fiduciary duty, breach of duty under applicable
state corporate law, and securities fraud under any state or federal law;

 

c.             any and all claims for wrongful discharge of
employment; termination in violation of public policy; discrimination;
harassment; retaliation; breach of contract, both express and implied; breach
of covenant of good faith and fair dealing, both express and implied;
promissory estoppel; negligent or intentional infliction of emotional distress;
fraud; negligent or intentional misrepresentation; negligent or intentional
interference with contract or prospective economic advantage; unfair business
practices; defamation; libel; slander; negligence; personal injury; assault;
battery; invasion of privacy; false imprisonment; conversion; workers’
compensation and disability benefits;

 

d.             any and all claims for violation of any
federal, state, or municipal statute, including, but not limited to,
Title VII of the Civil Rights Act of 1964; the Civil Rights Act of 1991;
the Americans with Disabilities Act of 1990; the Fair Labor Standards Act; the
Fair Credit Reporting Act; the Age Discrimination in Employment Act of 1967;
the Older Workers Benefit Protection Act;  the
Employee Retirement Income Security Act of 1974; the Worker Adjustment and
Retraining Notification Act; the Family and Medical Leave Act, except as
prohibited by law; the Sarbanes-Oxley Act of 2002; the California Family Rights
Act; the California Labor Code, except as prohibited by law; the California Workers’
Compensation Act, except as prohibited by law; and the California Fair Employment
and Housing Act;

 

e.             any and all claims for violation of the
federal or any state constitution;

 

3

 

f.              any and all claims arising out of any
other laws and regulations relating to employment or employment discrimination;

 

g.             any claim for any loss, cost, damage, or expense
arising out of any dispute over the non-withholding or other tax treatment of
any of the proceeds received by Employee as a result of this Agreement; and

 

h.             any and all claims for attorneys’ fees
and costs.

 

Employee agrees that the
release set forth in this section shall be and remain in effect in all respects
as a complete general release as to the matters released.  This release does not extend to any
obligations incurred under this Agreement. 
This release does not release claims that cannot be released as a matter
of law, including, but not limited to, claims under Division 3, Article 2
of the California Labor Code (which includes California Labor Code section 2802
regarding indemnity for necessary expenditures or losses by employee) and
claims prohibited from release as set forth in California Labor Code section
206.5 (specifically “any claim or right on account of wages due, or to become
due, or made as an advance on wages to be earned, unless payment of such wages
has been made”).

 

5.             Acknowledgment of Waiver of Claims under ADEA. 
Employee acknowledges that he is waiving and releasing any rights he may
have under the Age Discrimination in Employment Act of 1967 (“ADEA”), and that
this waiver and release is knowing and voluntary.  Employee agrees that this waiver and release
does not apply to any rights or claims that may arise under the ADEA after the
Effective Date of this Agreement. 
Employee acknowledges that the consideration given for this waiver and
release is in addition to anything of value to which Employee was already
entitled.  Employee further acknowledges
that he has been advised by this writing that: (a) he should consult with
an attorney prior to executing this Agreement; (b) he has
twenty-one (21) days within which to consider this Agreement; (c) he has
seven (7) days following his execution of this Agreement to revoke this
Agreement; (d) this Agreement shall not be effective until after the
revocation period has expired; and (e) nothing in this Agreement prevents
or precludes Employee from challenging or seeking a determination in good faith
of the validity of this waiver under the ADEA, nor does it impose any condition
precedent, penalties, or costs for doing so, unless specifically authorized by
federal law.  In the event Employee signs
this Agreement and returns it to the Company in less than the 21-day period
identified above, Employee hereby acknowledges that he has freely and
voluntarily chosen to waive the time period allotted for considering this
Agreement.

 

6.             California Civil Code Section 1542. 
Employee acknowledges that he has been advised to consult with legal
counsel and is familiar with the provisions of California Civil Code Section 1542,
a statute that otherwise prohibits unknown claims, which provides as follows:

 

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.

 

4

 

Employee, being aware of said code section, agrees to expressly waive
any rights he may have thereunder, as well as under any other statute or common
law principles of similar effect.

 

7.             No Pending or Future Lawsuits. 
Employee represents that he has no lawsuits, claims, or actions pending
in his name, or on behalf of any other person or entity, against the Company or
any of the other Releasees.  Employee
also represents that he does not intend to bring any claims on his own behalf
or on behalf of any other person or entity against the Company or any of the other
Releasees.

 

8.             Application for Employment. 
Employee understands and agrees that, as a condition of this Agreement,
Employee shall not be entitled to any employment with the Company, and Employee
hereby waives any right, or alleged right, of employment or re-employment with
the Company.

 

9.             Trade Secrets and Confidential Information/Company
Property.  Employee agrees that he/she will not disclose
the Company’s trade secrets and confidential and proprietary information.  Employee’s signature below constitutes
his/her certification under penalty of perjury that he/she has returned all
documents and other items provided to Employee by the Company, developed or
obtained by Employee in connection with his/her employment with the Company, or
otherwise belonging to the Company.

 

10.           No Cooperation.  Employee
agrees not to act in any manner that might damage the business of the Company.  Employee further agrees that he will not
knowingly encourage, counsel, or assist any attorneys or their clients in the
presentation or prosecution of any disputes, differences, grievances, claims,
charges, or complaints by any third party against any of the Releasees, unless
under a subpoena or other court order to do so. 
Employee agrees both to immediately notify the Company upon receipt of
any such subpoena or court order, and to furnish, within three (3) business
days of its receipt, a copy of such subpoena or other court order.  Employee further agrees that he will not
knowingly counsel or assist any attorneys or their clients in the presentation
or prosecution of any disputes, differences, grievances, claims, charges, or
complaints by any third party against the Company or any of the Releasees,
unless under a subpoena or other court order to do so or as related directly to
the ADEA waiver in this Agreement.

 

11.           Mutual Non-Disparagement.  Employee agrees to refrain from any
disparagement, defamation, libel, or slander of any of the Releasees, and agrees
to refrain from any tortious interference with the contracts and relationships
of any of the Releasees.  The Company
also agrees to refrain from any disparaging statements about Employee.  Employee understands that the Company’s
obligations under this section extend only to the Company’s current executive
officers and members of its Board of Directors and only for so long as each
officer or member is an employee or Director of the Company.  Employee shall direct any inquiries by
potential future employers to the Company’s human resources department, which
shall use its best efforts to provide only the Employee’s last position, dates
of employment and abide by Section 1(e) above if so requested.  The Parties further agree that the Company
will include in an upcoming Form 8-K a mutually acceptable provision
regarding Employee’s separation from the Company and his consulting agreement
with the Company.

 

5

 

12.           Breach.  Employee
acknowledges and agrees that any material breach of this Agreement, unless such
breach constitutes a legal action by Employee challenging or seeking a
determination in good faith of the validity of the waiver herein under the
ADEA, shall entitle the Company immediately to cease providing the
consideration provided to Employee under this Agreement, except as provided by
law.  Except as provided by law, Employee
shall also be responsible to the Company for all costs, attorneys’ fees, and
any and all damages incurred by the Company in (a) enforcing Employee’s
obligations under this Agreement, including the bringing of any action to
recover the consideration, and (b) defending against a claim or suit
brought or pursued by Employee in violation of the terms of this Agreement.

 

13.           No Admission of Liability. 
Employee understands and acknowledges that this Agreement constitutes a
compromise and settlement of any and all actual or potential disputed
claims.  No action taken by the Company
hereto, either previously or in connection with this Agreement, shall be deemed
or construed to be (a) an admission of the truth or falsity of any
potential claims or (b) an acknowledgment or admission by the Company of
any fault or liability whatsoever to Employee or to any third party.

 

14.           Costs.  Except as
provided in section 1 above, the Parties shall each bear their own costs,
attorneys’ fees, and other fees incurred in connection with the preparation of
this Agreement.

 

15.           ARBITRATION.  THE PARTIES
AGREE THAT ANY AND ALL DISPUTES ARISING OUT OF THE TERMS OF THIS AGREEMENT,
THEIR INTERPRETATION, AND ANY OF THE MATTERS HEREIN RELEASED, SHALL BE SUBJECT
TO ARBITRATION IN SAN DIEGO COUNTY, BEFORE JAMS, PURSUANT TO ITS EMPLOYMENT
ARBITRATION RULES & PROCEDURES (“JAMS RULES”).  THE ARBITRATOR SHALL ADMINISTER AND CONDUCT
ANY ARBITRATION IN ACCORDANCE WITH CALIFORNIA LAW, INCLUDING THE CALIFORNIA
CODE OF CIVIL PROCEDURE, AND THE ARBITRATOR SHALL APPLY SUBSTANTIVE AND
PROCEDURAL CALIFORNIA LAW TO ANY DISPUTE OR CLAIM, WITHOUT REFERENCE TO ANY CONFLICT-OF-LAW
PROVISIONS OF ANY JURISDICTION.  TO THE
EXTENT THAT THE JAMS RULES CONFLICT WITH CALIFORNIA LAW, CALIFORNIA LAW SHALL
TAKE PRECEDENCE.  THE ARBITRATOR MAY GRANT
INJUNCTIONS AND OTHER RELIEF IN SUCH DISPUTES. 
THE DECISION OF THE ARBITRATOR SHALL BE FINAL, CONCLUSIVE, AND BINDING
ON THE PARTIES TO THE ARBITRATION.  THE
PARTIES AGREE THAT THE PREVAILING PARTY IN ANY ARBITRATION SHALL BE ENTITLED TO
INJUNCTIVE RELIEF IN ANY COURT OF COMPETENT JURISDICTION TO ENFORCE THE
ARBITRATION AWARD.  THE ARBITRATOR SHALL
AWARD ATTORNEYS’ FEES AND COSTS TO THE PREVAILING PARTY, EXCEPT AS PROHIBITED
BY LAW.  THE PARTIES HEREBY AGREE TO
WAIVE THEIR RIGHT TO HAVE ANY DISPUTE BETWEEN THEM RESOLVED IN A COURT OF LAW
BY A JUDGE OR JURY.  NOTWITHSTANDING THE
FOREGOING, THIS SECTION WILL NOT PREVENT EITHER PARTY FROM SEEKING
INJUNCTIVE RELIEF (OR ANY OTHER PROVISIONAL REMEDY) FROM ANY COURT HAVING
JURISDICTION OVER THE PARTIES AND THE SUBJECT MATTER OF THEIR DISPUTE RELATING
TO THIS AGREEMENT AND THE AGREEMENTS INCORPORATED HEREIN BY REFERENCE.

 

16.           Tax Consequences.  The Company
makes no representations or warranties with respect to the tax consequences of
the payments provided to Employee or made on his behalf under 

 

6

 

the terms of this
Agreement.  Employee agrees and
understands that he is responsible for payment, if any, of local, state, and/or
federal taxes on the payments made hereunder by the Company and any penalties
or assessments thereon.  Employee further
agrees to indemnify and hold the Company harmless from any claims, demands,
deficiencies, penalties, interest, assessments, executions, judgments, or
recoveries by any government agency against the Company for any amounts claimed
due on account of (a) Employee’s failure to pay, or Employee’s delayed
payment of, federal or state taxes, or (b) damages sustained by the
Company by reason of any such claims, including attorneys’ fees and costs.

 

17.           Authority.  The Company
represents and warrants that the undersigned has the authority to act on behalf
of the Company and to bind the Company and all who may claim through it to the
terms and conditions of this Agreement. 
Employee represents and warrants that he has the capacity to act on his
own behalf and on behalf of all who might claim through him to bind them to the
terms and conditions of this Agreement. 
Each Party warrants and represents that there are no liens or claims of
lien or assignments in law or equity or otherwise of or against any of the
claims or causes of action released herein.

 

18.           No Representations.  Employee
represents that he has had an opportunity to consult with an attorney, and has
carefully read and understands the scope and effect of the provisions of this
Agreement.  Employee has not relied upon
any representations or statements made by the Company that are not specifically
set forth in this Agreement.

 

19.           Severability.  In the event
that any provision or any portion of any provision hereof becomes or is
declared by a court of competent jurisdiction or arbitrator to be illegal,
unenforceable, or void, this Agreement shall continue in full force and effect
without said provision or portion of provision.

 

20.           Attorneys’ Fees.  Except with
regard to a legal action challenging or seeking a determination in good faith
of the validity of the waiver herein under the ADEA, in the event that either Party
brings an action to enforce or effect its rights under this Agreement, the
prevailing Party shall be entitled to recover its costs and expenses, including
the costs of mediation, arbitration, litigation, court fees, and reasonable
attorneys’ fees incurred in connection with such an action.

 

21.           Entire Agreement.  This
Agreement represents the entire agreement and understanding between the Company
and Employee concerning the subject matter of this Agreement and Employee’s
employment with and separation from the Company and the events leading thereto
and associated therewith, and supersedes and replaces any and all prior
agreements and understandings concerning the subject matter of this Agreement
and Employee’s relationship with the Company, with the exception of the Owen Equity Agreements the Consulting Agreement
and the Indemnification Agreement.  The
Parties agree that this Agreement shall survive a material change in ownership
or control of the Company.

 

22.           No Oral Modification.  This
Agreement may only be amended in a writing signed by Employee and the Company’s
President.

 

23.           Governing Law.  This
Agreement shall be governed by the laws of the State of California, without
regard for choice-of-law provisions.

 

7

 

24.           Effective Date.  This
Agreement will become effective after the Parties have signed this Agreement
and after seven (7) days have passed since Employee signed the Agreement,
assuming it is not revoked by Employee before that date (the “Effective Date”).

 

25.           Counterparts. 
This Agreement may be executed in counterparts and by facsimile, and
each counterpart and facsimile shall have the same force and effect as an
original and shall constitute an effective, binding agreement on the part of
each of the undersigned.

 

26.           Voluntary Execution of Agreement.  Employee
understands and agrees that he executed this Agreement voluntarily, without any
duress or undue influence on the part or behalf of the Company or any third
party.  Employee acknowledges that:

 

(a)           he
has read this Agreement;

 

(b)                                 he has been represented in the
preparation, negotiation, and execution of this Agreement by legal counsel of his
own choice or has elected not to retain legal counsel;

 

(c)                                  he understands the terms and consequences
of this Agreement and of the releases it contains; and

 

(d)           he
is fully aware of the legal and binding effect of this Agreement.

 

IN WITNESS
WHEREOF, the Parties have executed this Agreement on the respective dates set
forth below.

 

 

	
   

  	
   

  	
  WILLIAM A. OWEN, an individual

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Dated:  12/14/07

  	
   

  	
       /s/
  William A. Owen

  
	
   

  	
   

  	
  William A. Owen

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  OUTDOOR CHANNEL HOLDINGS, INC.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Dated:  12/14/07

  	
   

  	
  By

  	
       /s/ Perry T. Massie

  
	
   

  	
   

  	
   

  	
  Perry T. Massie

  
	
   

  	
   

  	
   

  	
  Chairman of the Board

  

 

8

 

Approved
as to Form:

 

	
  Dated:  12/14/07

  	
   

  	
   

  	
  By:

  	
      /s/ Curt C. Barwick

  
	
   

  	
   

  	
   

  	
  Curt C. Barwick, Esq.

  
	
   

  	
   

  	
   

  	
  McConnell, Dunning & Barwick LLP

  
	
   

  	
   

  	
   

  	
  Counsel for William A. Owen

  

 

9

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