Document:

exv10w14

 

Exhibit 10.14
CONFIDENTIAL
TREATMENT REQUESTED

INDEMNIFICATION AGREEMENT

This Indemnification Agreement (this “Agreement”) is made and entered into effective as of February
17, 2004 (the “Effective Date”) by and between Asthmatx, Inc., a California corporation
(“Asthmatx”), and Broncus Technologies, Inc., a California corporation (“Broncus”).

RECITALS

     A. Broncus and Asthmatx have previously entered into a certain Corporate Formation Agreement
dated as of December 26, 2003 (the “Formation Agreement”). Pursuant to the Formation Agreement,
Broncus contributed and assigned to Asthmatx cash and certain assets, agreements and obligations of
Broncus relating to Broncus’ Alair Asthma Treatment System business (the “Alair Business”) in
exchange for shares of Asthmatx capital stock and other consideration described therein and
Asthmatx assumed liabilities relating to the Alair Business.

     B. On December 30, 2003, Broncus distributed all of its shares of Asthmatx capital stock to
its shareholders on a pro rata basis as a dividend (the “Spinoff’).

     C. Broncus and Asthmatx are entering into this Agreement pursuant to the provisions of Section
2.3 of the Formation Agreement, under which Broncus and Asthmatx agreed to enter into an agreement
providing for certain indemnification obligations between themselves and setting forth provisions
regarding certain insurance held or expected to be obtained by the parties.

AGREEMENT

     NOW, THEREFORE, in consideration of the premises and mutual agreements and covenants
hereinafter set forth, and for other good and valuable consideration, the receipt of which is
hereby acknowledged, Asthmatx and Broncus hereby agree as follows:

     1. Certain Defined Terms.  As used herein, the following terms shall have the
following meanings:

          1.1 “Alair” means the Alair Asthma Treatment System which was originally developed by Broncus
and which has been contributed and assigned by Broncus to Asthmatx pursuant to the Formation
Agreement.

          1.2 “Alair Business” shall have the meaning given to that term in Recital A of this Agreement
and includes, without limitation, the business of developing, testing, marketing, selling and
otherwise commercially exploiting Alair and any associated services.

          1.3 “Alair Insurance” means a “first payor” insurance policy that may be purchased by Asthmatx
after the Spinoff Date (as defined below) which will provide

*****   Certain
portions of this exhibit have been omitted and confidential treatment
has been requested for these omitted portions pursuant to an
application for confidential treatment sent to the Securities and
Exchange Commission.

 

 

liability insurance coverage to Asthmatx and/or Broncus for Pre-Spinoff Alair Claim Loss (as
defined below).

          1.4 “Broncus Business” means the activities, business and/or operations engaged in and/or
conducted or carried out by Broncus, including the Exhale Business, but excluding the
Alair Business.

          1.5 “Broncus Insurance Policy” means an existing “occurrence-based” liability insurance policy
that is owned by Broncus as of the Effective Date, that was issued to Broncus prior to the Spinoff
Date and which provides liability insurance coverage for Pre-Spinoff Alair Claims and/or other
matters arising from events or harm occurring with respect to patients who were treated by Broncus
during a specified time period (an “Occurrence Period”). The parties acknowledge that Broncus owns
several Broncus Insurance Policies for different Occurrence Periods, and that the coverage limits
of each Broncus Insurance Policy vary in amount by Occurrence Period.

          1.6 “Exhale” means Broncus’ Exhale Airway Bypass System, which is used to treat emphysema in
humans and which is owned and retained by Broncus.

          1.7 “Exhale Business” means Broncus’ business of developing, testing, marketing, selling and
otherwise commercially exploiting Exhale and any associated services.

          1.8 “Liabilities” means, collectively, any and all liabilities, losses, claims, debts, duties,
obligations (including but not limited to contractual obligations), expenses, claims, deficiencies
or guaranties of any type, whether accrued, absolute, contingent, matured, unmatured or otherwise.

          1.9 “Loss” means, collectively, all Liabilities, loss, damages, expense, cost, fines, fees,
penalties, obligations or injuries, including without limitation those resulting from any and all
claims, actions, suits, demands, assessments, investigations, judgments, awards, arbitrations or
other proceedings, together with reasonable costs and expenses including the reasonable attorneys’
fees and other legal costs and expenses relating thereto.

          1.10 “Other Claim” means and includes, collectively, a claim, suit, action, arbitration,
demand, investigation or other proceeding asserted, brought or made by a third party or parties to
the extent that such third party or parties seeks to recover damages caused or alleged to have been
caused as a result of, or arising from: (i) any individual or individuals having been treated with
or by Exhale at any time prior to the Spinoff Date; (ii) any use of Exhale at any time prior to the
Spinoff Date; or (iii) any activity, conduct or operations of the Broncus Business occurring at any
time prior to the Spinoff Date. The term “Other Claim” shall not include any Pre-Spinoff Alair
Claim.

          1.11 “Other Claim Loss” means Loss actually suffered or incurred by Broncus or Asthmatx to the
extent that such Loss is caused by, or results or arises from, an Other Claim.

*****   Certain
portions of this exhibit have been omitted and confidential treatment
has been requested for these omitted portions pursuant to an
application for confidential treatment sent to the Securities and
Exchange Commission.

2

 

          1.12 “Pre-Spinoff Alair Claim” means a claim, suit, action, arbitration, demand, investigation
or other proceeding asserted, brought or made by a third party or parties to the extent that such
third party or parties seeks to recover damages caused or alleged to have been caused as a result
of, or arising from, (a) any individual or individuals having been treated with or by Alair at any
time prior to the Spinoff Date or (b) any use of Alair at any time prior to the Spinoff Date. The
term “Pre-Spinoff Alair Claim” shall not include any Other Claim.

          1.13 “Pre-Spinoff Alair Claim Loss” means Loss (as defined below) actually suffered or
incurred by Broncus or Asthmatx to the extent that such Loss is caused by, or results or arises
from, a Pre-Spinoff Alair Claim.

          1.14 “Spinoff Date” means December 30, 2003.

     2. Indemnification by Asthmatx. Except to the extent that Asthmatx is expressly entitled to
be indemnified for such Loss by Broncus pursuant to the provisions of Section 5.2 below, Asthmatx
hereby agrees to indemnify Broncus and its successors and assigns, and any present or future
officer, director, employee, affiliate, shareholder or agent of Broncus and/or its successors
(collectively, the “Broncus Indemnitees”) against, and hereby agrees to hold each Broncus
Indemnitee harmless from, any and all Loss suffered or incurred by any Broncus Indemnitee arising
out of the Alair Business or any of the Assumed Liabilities (as that term is defined in the
Formation Agreement), including, but not limited to Liabilities arising under the Assigned
Contracts (as that term is defined in the Formation Agreement), whether based on events occurring
before, on or after the Spinoff Date (collectively, “Asthmatx Indemnified Loss”); provided
however, that notwithstanding the foregoing, Asthmatx shall have no obligation to indemnify
any Broncus Indemnitee under this Section 2 for any Loss arising in whole or in part from criminal
or fraudulent conduct on the part of such Broncus Indemnitee. By way of illustration and not
limitation, Asthmatx Indemnified Loss: (a) shall include any Loss arising from any claim, suit,
action, arbitration, demand, investigation or other proceeding asserted, brought or made by a third
party or parties to the extent that such third party or parties seeks to recover damages caused or
alleged to have been caused as a result of, or arising from, (i) any individual(s) having been
treated with or by Alair at any time or (ii) any use of Alair at any time; and (b) shall not
include any Broncus Indemnified Loss (as defined in Section 3).

     3. Indemnification by Broncus. Broncus hereby agrees to indemnify Asthmatx and its successors
and assigns, and any present or future officer, director, employee, affiliate, shareholder or agent
of Asthmatx and/or its successors (collectively, the “Asthmatx Indemnitees”) against, and hereby
agrees to hold each Asthmatx Indemnitee harmless from, any and all Loss suffered or incurred by any
Asthmatx Indemnitee arising out of the Broncus Business, whether based on events occurring before,
on or after the Spinoff Date (collectively, “Broncus Indemnified Loss”); provided
however, that notwithstanding the foregoing, Broncus shall have no obligation to indemnify
any Asthmatx Indemnitee under this Section 3 for any Loss arising in whole or in part from criminal
or fraudulent conduct on the part of such Asthmatx Indemnitee. By way of illustration and not
limitation, Broncus Indemnified Loss: (a) shall include any

*****   Certain
portions of this exhibit have been omitted and confidential treatment
has been requested for these omitted portions pursuant to an
application for confidential treatment sent to the Securities and
Exchange Commission.

3

 

Loss arising from any claim, suit, action, arbitration, demand, investigation or other
proceeding asserted, brought or made by a third party or parties to the extent that such third
party or parties seeks to recover damages caused or alleged to have been caused as a result of, or
arising from, (i) any individual(s) having been treated with or by Exhale at any time or (ii) any
use of Exhale at any time; and (b) shall not include any Asthmatx Indemnified Loss (as defined in
Section 2).

     4. Covenants Regarding Insurance. The parties hereby agree as follows:

          4.1 Asthmatx; Alair Insurance. Asthmatx shall use diligent, good faith efforts to
purchase and obtain the Alair Insurance, and to have the Alair Insurance become effective, as soon
as reasonably practicable after the Effective Date of this Agreement. Asthmatx shall also use
diligent, good faith efforts to cause the Alair Insurance to: (a) have an aggregate coverage limit
of ***** Dollars ($*****); (b) make both Asthmatx and Broncus named insureds of the
Alair Insurance; and (c) cause the Alair Insurance to have a coverage period of at least five (5)
years from the date it is issued. Asthmatx shall consult with Broncus regarding the specific terms
of such Alair Insurance. Asthmatx shall, at its sole expense, (a) pay all premiums and other
charges required to obtain the Alair Insurance and maintain it in effect at all times during the
coverage period of the Alair Insurance and (b) take all other actions reasonably necessary or
appropriate to maintain such Alair Insurance in effect at all times during its coverage period.

          4.2 Broncus. The parties acknowledge and agree that no further premiums or other
payments are required to be paid to keep the Broncus Insurance Policies in effect and that such
“occurrence based” policies apply only to claims based on events occurring during specific
Occurrence Periods. Broncus shall, at its sole expense, take all actions reasonably necessary or
appropriate to maintain each Broncus Insurance Policy in effect during the maximum time period
during which such Broncus Insurance Policy can remain in effect in accordance with its current
terms without the payment of any additional premium, fee or other charge.

     5. Insurance Allocations; Special Indemnification. Notwithstanding anything to the contrary in
Section 2, the parties hereby agree as follows:

          5.1 First Recourse to Alair Insurance. If either Broncus or Asthmatx incurs or
suffers any Pre-Spinoff Alair Claim Loss, then it will first seek to obtain coverage for such
Pre-Spinoff Alair Claim Loss from any available Alair Insurance to the maximum extent that coverage
for such Pre-Spinoff Alair Claim Loss is available under the Alair Insurance, before seeking or
obtaining any coverage for such Pre-Spinoff Alair Claim Loss under any Broncus Insurance Policy.

          5.2 Limited Indemnification by Broncus for Pre-Spinoff Alair Claim Loss. Subject to
the provisions of this Section 5.2, Broncus agrees to indemnify Asthmatx against, and to hold
Asthmatx harmless from, that amount (and only that amount) of Pre-Spinoff Alair Claim Loss actually
suffered or incurred by Asthmatx for which Asthmatx has not been reimbursed or provided coverage
under the Alair

*****   Certain
portions of this exhibit have been omitted and confidential treatment
has been requested for these omitted portions pursuant to an
application for confidential treatment sent to the Securities and
Exchange Commission.

4

 

Insurance; provided that, notwithstanding the foregoing (i) under no
circumstance shall Broncus be obligated to indemnify Asthmatx for any amount of Pre-Spinoff Alair
Claim Loss for which coverage is not actually available and actually provided under an Applicable
Broncus Insurance Policy (as defined below) and (ii) in no event shall Broncus have any obligation
under this Section 5.2 to pay any amounts for which it is not provided coverage by a Broncus
Insurance Policy. As used herein, the term “Applicable Broncus Insurance Policy” means, with
respect to any Pre-Spinoff Alair Claim Loss, the Broncus Insurance Policy (or Policies) for which
insurance coverage is available to pay for liability of Broncus in respect of its obligation to
indemnify Asthmatx for such Pre-Spinoff Alair Claim Loss pursuant to this Section 5.2. The parties
acknowledge and agree that the Broncus Insurance Policies also provide Broncus with insurance
coverage for Other Claim Loss. The parties further acknowledge and agree that nothing in this
Section 5.2 or elsewhere in this Agreement imposes any restriction upon Broncus’ right and ability
to at any time seek, obtain, be paid and retain any coverage, proceeds, reimbursements or other
payments available to be paid to Broncus or payable on behalf of Broncus or for the benefit of
Broncus under any Broncus Insurance Policy or Policies as coverage or reimbursement for any Loss,
Liabilities or other amounts (including, but not limited to, any Pre-Spinoff Alair Claim Loss or
Other Claim Loss) and, except to the extent expressly provided in Section 5.3, no rights shall
accrue to Asthmatx as a result of the payment, for any reason, of proceeds of any Broncus Insurance
Policy or Policies to Broncus or a claimant against Broncus, or on behalf of or for the benefit of
Broncus.

          5.3 Insurance Allocation and Reimbursement. Asthmatx and Broncus acknowledge that the
total dollar amount of claims for insurance coverage that may be made against a Broncus Insurance
Policy may exceed the Coverage Limit (as defined below) of that policy. Accordingly the parties
desire to agree in this Section 5.3 to a mechanism for allocating the available insurance coverage
under each Broncus Insurance Policy between Pre-Spinoff Alair Claim Loss and Other Claim Loss and,
accordingly, hereby agree as follows:

               (a) Allocation. If the aggregate dollar amount of claims for insurance coverage made
against a Broncus Insurance Policy and payable thereunder exceed the Coverage Limit of such Broncus
Insurance Policy, then: (i) the maximum dollar amount of the coverage of such Broncus Insurance
Policy that is allocated to cover Pre-Spinoff Alair Claim Loss (the “Alair Allocation Amount”)
shall, in the aggregate, not exceed the greater of (A) *****
percent (*****%) of the Coverage Limit of
such Broncus Insurance Policy or (B) an amount equal to the Coverage Limit of such Broncus
Insurance Policy minus the total amount of Other Claim Loss that is entitled to be paid or covered
by such Broncus Insurance Policy; and (ii) the maximum dollar amount of the coverage of such
Broncus Insurance Policy that is allocable to cover Other Claim Loss (the “Other Allocation
Amount”) shall, in the aggregate, not exceed the greater
of (A) ***** percent (*****% ) of the
Coverage Limit of such Broncus Insurance Policy or (B) an amount equal to the Coverage Limit of
such Broncus Insurance Policy minus the total amount of Pre-Spinoff Alair Claim Loss that is
entitled to be paid or covered by such Broncus Insurance Policy.

*****   Certain
portions of this exhibit have been omitted and confidential treatment
has been requested for these omitted portions pursuant to an
application for confidential treatment sent to the Securities and
Exchange Commission.

5

 

               (b) Reimbursement. If for any reason the payments made under a Broncus Insurance
Policy in respect of Pre-Spinoff Alair Claim Loss exceed the Alair Allocation Amount for such
policy and the remaining coverage under such policy is insufficient to cover in full all Other
Claim Loss that would otherwise be covered by such Broncus Insurance Policy, then Asthmatx shall
reimburse Broncus for that amount of Other Claim Loss for which coverage would otherwise have been
(but is not) available under such Broncus Insurance Policy; provided however, that
the amount of such reimbursement by Asthmatx shall not exceed the aggregate amounts paid under such
Broncus Insurance Policy in respect of all Pre-Spinoff Alair Claim Loss minus the Alair Allocation
Amount for such Broncus Insurance Policy. Likewise, if for any reason payments made under a
Broncus Insurance Policy in respect of Other Claim Loss exceed the Other Allocation Amount for such
policy and the remaining coverage under such policy is insufficient to cover in full all
Pre-Spinoff Alair Claim Loss that would otherwise be covered by such Broncus Insurance Policy, then
Broncus shall reimburse Asthmatx for that amount of Pre-Spinoff Alair Claim Loss for which coverage
would otherwise have been (but is not) available under such Broncus Insurance Policy;
provided however, that the amount of such reimbursement by Broncus shall not exceed
the aggregate amounts paid under such Broncus Insurance Policy in respect of all Other Claim Loss
minus the Other Allocation Amount for such Broncus Insurance Policy. Broncus and Asthmatx shall
each bear their own cost, and shall not be reimbursed by the other party for, any Pre-Spinoff Alair
Claim Loss such party suffers or incurs that is subject to an insurance deductible under a Broncus
Insurance Policy. As used herein, the “Coverage Limit” of a Broncus Insurance Policy means the
total dollar amount of insurance coverage available under such policy as of the Effective Date of
this Agreement.

               (c) Other Terms. Nothing in this Section 5.3 limits either party’s indemnification
obligations set forth in Sections 2 and 3 above for any Loss incurred after taking into account
insurance payments, but rather is intended to set forth how the parties desire to allocate
insurance proceeds. The agreements set forth in this Section 5.3 are intended solely to address the
respective rights of the parties and are not intended to modify the terms of any Broncus Insurance
Policy.

               (d) Examples. Exhibit “A” to this Agreement contains examples that illustrate
the operation of this Section 5.3.

          5.4 Certain Covenants. In the event that either party becomes aware of a claim,
demand, suit, action, investigation or proceeding for which it may be entitled to indemnification
under Section 2, 3 or 5.2 of this Agreement, then such party (“Indemnified Party”) shall:

               (a) provide written notice to the other party (“Indemnifying Party”) of such claim, demand,
suit, action, investigation or proceeding promptly, and in no event later than thirty (30) days,
after it has knowledge of such claim, demand, suit, action, investigation or proceeding;

*****   Certain
portions of this exhibit have been omitted and confidential treatment
has been requested for these omitted portions pursuant to an
application for confidential treatment sent to the Securities and
Exchange Commission.

6

 

               (b) permit the Indemnifying Party (but only if the Indemnifying Party so chooses, in its sole
and absolute discretion) to assume full responsibility to investigate, prepare for, defend against,
and/or settle, all at the Indemnifying Party’s own expense, any such claim, demand, suit, action,
investigation or proceeding; and

               (c) assist and cooperate with the Indemnifying Party in the investigation of, preparation for,
defense of, and/or settlement of any such claim, demand, suit, action, investigation or proceeding.

          In no case shall the Indemnified Party or any of its employees, officers, directors,
consultants or agents compromise, settle, and/or admit to, any such claim, demand, suit, action,
investigation or proceeding without the Indemnifying Party’s prior written consent, which shall not
be unreasonably withheld or delayed.

     6. No Third Party Rights. Except for any third party who is a permitted assignee of
this Agreement in accordance with the terms of Section 7.7 hereof, no third party shall be a
beneficiary of this Agreement or any of its provisions, nor shall any third party have any right or
ability to enforce this Agreement or any of its provisions, or to assert any rights under, pursuant
to or in connection with this Agreement.

7. General Provisions.

          7.1 Governing Law. This Agreement will be governed by and construed in accordance
with the laws of the State of California, without giving effect to that body of laws pertaining to
conflict of laws.

          7.2 Further Assurances. The parties agree to execute such further documents and
instruments and to take such further actions as may be reasonably necessary to carry out the
purposes and intent of this Agreement.

          7.3 Counterparts; Facsimile Signatures. This Agreement may be executed in any number
of counterparts, each of which when so executed and delivered will be deemed an original, and all
of which together shall constitute one and the same agreement. This Agreement may be executed and
delivered by facsimile and upon such delivery the facsimile signature will be deemed to have the
same effect as if the original signature had been delivered to the other party.

          7.4 Severability. If any provision of this Agreement is determined by any court or
arbitrator of competent jurisdiction to be invalid, illegal or unenforceable in any respect, such
provision will be enforced to the maximum extent possible given the intent of the parties hereto.
If such clause or provision cannot be so enforced, then such provision shall be stricken from this
Agreement and the remainder of this Agreement shall be enforced as if such invalid, illegal or
unenforceable clause or provision had (to the extent not enforceable) never been contained in this
Agreement.

          7.5 Notices. Any and all notices required or permitted to be given to a party
pursuant to the provisions of this Agreement will be in writing and will be effective

			

*****   Certain
portions of this exhibit have been omitted and confidential treatment
has been requested for these omitted portions pursuant to an
application for confidential treatment sent to the Securities and
Exchange Commission.

7

 

and deemed to provide such party sufficient notice under this Agreement on the earliest of the
following: (i) at the time of personal delivery, if delivery is in person; (ii) one (1) business
day after deposit with an express overnight courier for United States deliveries, or two (2)
business days after such deposit for deliveries outside of the United States, with proof of
delivery from the courier requested; or (iii) three (3) business days after deposit in the United
States mail by certified mail (return receipt requested) for United States deliveries. All notices
for delivery outside the United States will be sent by express courier. All notices not delivered
personally will be sent with postage and/or other delivery charges prepaid and properly addressed
to the party to be notified at the address set forth on the signature page to this Agreement (or at
such other address as the party to be notified may have designated to the other party by one of the
indicated means of notice herein).

          7.6 Amendment and Waivers. This Agreement may not be altered or amended except by an
instrument in writing executed by Broncus and Asthmatx. No rights of a party under this Agreement
may be waived, except by an instrument in writing executed by such party. No waiver of any terms,
provision or condition of or failure to exercise or delay in exercising any rights or remedies
under this Agreement, in any one or more instances shall be deemed to be, or construed as, a
further or continuing waiver of any such term, provision, condition, right or remedy or as a waiver
of any other term, provision or condition of this Agreement.

          7.7 Successors and Assigns. No party to this Agreement (“Assigning Party”) may assign
this Agreement or delegate its rights hereunder except: (a) with the written consent of the other
party hereto; (b) by operation of law pursuant to a statutory merger or consolidation in which such
Assigning Party is merged or consolidated with one or more other corporations or other entities; or
(c) in connection with a sale of all or substantially all such Assigning Party’s assets and
properties to a third party who expressly agrees in writing with the other party to this Agreement
to assume and be obligated and liable for, all of the Assigning Party’s obligations under this
Agreement.

[The remainder of this page has intentionally been left blank]

			

*****   Certain
portions of this exhibit have been omitted and confidential treatment
has been requested for these omitted portions pursuant to an
application for confidential treatment sent to the Securities and
Exchange Commission.

8

 

          7.8 Entire Agreement. This Agreement and the documents referred to herein and
exhibits hereto constitute the entire agreement and understanding of the parties with respect to
the subject matter of this Agreement, and supersede all prior understandings and agreements,
whether oral or written, between or among the parties hereto with respect to the specific subject
matter hereof.

     In Witness Whereof, the parties hereto have executed this Indemnification
Agreement as of the Effective Date set forth in the first paragraph of this Agreement.

	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	ASTHMATX, INC.	 	BRONCUS TECHNOLOGIES, INC.	 	 
	 
	 	 	 	 	 	 	 	 
	By:

	 	/s/ Glen French
	 	By:
	 	/s/ Cary Cole	 	 
	 

	 	 
	 	 	 	 	 	 
	 

	 	Glen French, President
	 	 	 	Cary Cole, President	 	 
	 
	 	 	 	 	 	 	 	 
	Address:	 	Address:	 	 
	1340 Space Park Way	 	1400 North Shoreline Blvd, Suite A8	 	 
	Mountain View, CA 94043	 	Mountain View, CA 94043	 	 

Attachments:

Exhibit “A”: Certain Examples of the Operation of Section 5.3

			

*****   Certain
portions of this exhibit have been omitted and confidential treatment
has been requested for these omitted portions pursuant to an
application for confidential treatment sent to the Securities and
Exchange Commission.

9

 

Exhibit “A”

Certain Examples of the Operation of Section 5.3

     The following hypothetical examples are intended to illustrate the operation of Section 5.3 of
this Indemnification Agreement.

Example
1: Assume that a Broncus Insurance Policy has a $****** Coverage Limit and that (i) a $****** payment
is made under such policy in respect of Pre-Spinoff Alair Claim Loss, and (ii) subsequently,
$****** of Other Claim Loss is incurred by Broncus that would otherwise have been (but is not)
covered by such Broncus Insurance Policy. In this example, Asthmatx would be obligated to
reimburse Broncus for $****** of the $****** that was paid from such Broncus Insurance Policy in
respect of Pre-Spinoff Alair Claim Loss and the remaining $****** of such Other Claim Loss would be
the responsibility of Broncus (either because it was direct liability of Broncus or because Broncus
is obligated to indemnify Broncus for such $****** of Other Claim Loss under Section 3 of this
Agreement).

     Section 5.3 limits the amount of Asthmatx’s reimbursement for uncovered Other Claim Loss to the
aggregate amounts paid under such Broncus Insurance Policy in respect of all Pre-Spinoff Alair
Claim Loss (in this example $******) minus the Alair Allocation Amount for such Broncus
Insurance Policy (in this example $******). In this example, the Alair Allocation Amount is
$****** because that is the greater of (i) ******% of the $****** Coverage Limit of the Broncus
Insurance Policy or (ii) the $****** Coverage Limit of such Broncus Insurance Policy minus the
$****** of Other Claim Loss entitled to be paid or covered by such Broncus Insurance Policy.

 

Example
2: Assume that a Broncus Insurance Policy has a $****** Coverage Limit and that (i) a $****** payment
is made under such policy in respect of Other Claim Loss, (ii) a $****** payment is also made under
such policy in respect of Pre-Spinoff Alair Claim Loss, and (iii) subsequently, an additional
$****** of Pre-Spinoff Alair Claim Loss is incurred (such $****** of Pre-Spinoff Alair Claim Loss
is referred to in this example as the “Remaining Alair Claim Loss”). In this example, Broncus
would be obligated to reimburse Asthmatx for $****** of the $****** that was paid from such Broncus
Insurance Policy in respect of Other Claim Loss. Such $****** payment would reduce the Remaining Alair Claim Loss to $******, of which (i) $****** could be
covered by the Broncus Insurance Policy and (ii) $****** would be the responsibility of Asthmatx
(either because it was direct liability of Asthmatx or because Asthmatx is obligated to indemnify
Broncus for such $****** of Loss under Section 2 of this Agreement).

     Section 5.3 limits the amount of Broncus’ reimbursement for uncovered Pre-Spinoff Alair Claim Loss
to the aggregate amounts paid under such Broncus Insurance Policy in respect of all Other Claim
Loss (in this example $******) minus the Other Allocation Amount for such Broncus Insurance
Policy (in this example $******). In this example, the Other Allocation Amount is $****** because
that is the greater of (i) ******% of the $****** Coverage Limit of the Broncus Insurance Policy or
(ii) the $****** Coverage Limit of such Broncus Insurance Policy minus the $****** of Pre-Spinoff
Alair Claim Loss entitled to be paid or covered by such Broncus Insurance Policy.

 

			

*****   Certain
portions of this exhibit have been omitted and confidential treatment
has been requested for these omitted portions pursuant to an
application for confidential treatment sent to the Securities and
Exchange Commission.

10

 

Example
3: Assume that a Broncus Insurance Policy has a $****** Coverage Limit and that (i) a $****** payment
is made under such policy in respect of Pre-Spinoff Alair Claim Loss, and (ii) no other claims for
coverage are made against such Broncus Insurance Policy. In this example, neither Broncus nor
Asthmatx would have any obligation to reimburse the other for any amounts under Section 5.3.

			

*****   Certain
portions of this exhibit have been omitted and confidential treatment
has been requested for these omitted portions pursuant to an
application for confidential treatment sent to the Securities and
Exchange Commission.

11exv10w1

 

Exhibit
10.1

September 19, 2006

Mr. Ronald Nieman

5105 Turnbridge Ct.

McKinney, Texas 75070

Dear Ron:

     This letter confirms the discussion held with you regarding termination of your employment
with Intervoice, Inc. (“Intervoice”). The terms set forth below constitute Intervoice’s offer and,
by your signature, your acceptance of this proposed Separation Agreement (the “Agreement”). On
behalf of Intervoice, I want to express my appreciation for your past service and contributions,
and wish you success in your future endeavors.

1. Termination of Employment. Your employment with Intervoice will terminate effective
September 30, 2006 (the “Separation Date”). In connection with this event, your duties and
authority as Intervoice’s Senior Vice President Products are terminated immediately. In lieu of
Board action that would otherwise be required to vacate your office, you are respectfully requested
to sign at this time the accompanying form effecting your resignation as a corporate officer of
Intervoice.

2. Salary and Benefits. In accordance with Intervoice’s existing policies or at its
discretion, you have received or will receive the following payments and benefits pursuant to your
employment with Intervoice and your participation in Intervoice’s benefit plans:

(a) Payment of your regular base salary through the Separation Date;

(b) Payment of accrued and unused vacation leave benefits, if any, as of the Separation
Date;

(c) Payment of wages in lieu of notice equivalent to two weeks’ base salary;

(d) Present or future payment or other entitlement, in accordance with the terms of the
applicable plan or other benefit, of any benefits to which you have vested entitlement under
the terms of employee benefit plans established by Intervoice; and

(e) Career transition services through the firm of Lee Hecht Harrison. (We urge you to take
advantage of this resource; please call June Purdy (972-454-8424) to arrange for
commencement of these services.)

 

 

Mr. Ronald Nieman

September 19, 2006

Page 2

The amounts paid in accordance with subparagraphs (a) — (c) of this paragraph are gross amounts,
subject to lawful deductions, including any deductions you have previously authorized.

Your regular paid group health benefits will continue only through September 30, 2006. By law, you
are entitled at your option to continue your group health coverage for a period of time thereafter,
at your own expense. Please complete a COBRA election form, which will be furnished to you, and
return it to Dee Reel in Intervoice’s Human Resources Department at your earliest convenience, if
you wish to continue such coverage (please note, however, the special arrangements offered to you
under Paragraph 3 regarding health coverage continuation). You should also contact Ms. Reel if you
wish to review other aspects of your benefits, such as life insurance conversion or flexible
spending account expense submission.

You have a very limited time period in which to exercise any available stock options, should you
wish to do so. Please promptly review your Stock Option Agreements to determine your rights in
this regard.

Intervoice will settle all authorized reimbursable business expenses, if any, based on your
submission of appropriate expense reports along with the required receipts and documenting
information. Expense reports for any remaining outstanding reimbursable expenses must be submitted
by the close of business on October 2, 2006, except for any charges not billed to you by that time,
in which case the expense must be promptly submitted upon your receipt of the billing.

3. Special Separation Compensation. Contingent upon your acceptance of the terms of this
Agreement and in consideration of your undertakings set forth in Paragraphs 7 (General Release), 8
(Waiver of Jury Trial), 9 (Confidentiality, Cooperation, and Other Commitments), 10 (Agreement Not
to Seek Reemployment), and 11 (Agreement Regarding Solicitation of Employees, Customers, and
Suppliers) of this Agreement, Intervoice offers you, in addition to the pay and benefits you will
receive pursuant to Paragraph 2 and in lieu of benefits under any other Intervoice severance pay
program, the following Special Separation Compensation:

(a) Payment of the sum of $207,875.00, equivalent to one year’s base salary. This sum is a
gross amount, subject to lawful deductions, and will be paid in installments over a period
of 12 months from the date of the first payment, as follows: The gross amount of each
payment (except for any final remainder) will be equal to your current regular semi-monthly
gross base pay as if you were still a continuing employee. Payments will begin on the first
regular Intervoice payday following the Effective Date of this Agreement as defined in
Paragraph 19 (provided, however, that because of required administrative processing time, if
the Effective Date is within three business days before a regular payday, payments may not
begin until the next following payday), and will terminate when

 

 

Mr. Ronald Nieman

September 19, 2006

Page 3

the total aggregate amount
of all such payments and lawful deductions equals $207,875.00.

(b) Payment (or waiver of payment) through September 30, 2007, of the employer’s portion of
the premium cost for Intervoice’s group health coverage on
you and any covered dependents as in effect on the Separation Date, to the same extent as if
you had continued as an employee; provided, however, that the amount of any such payment (or
waiver) shall be treated as taxable income to you, and Intervoice’s obligation to make or
waive such payments shall terminate at such earlier date as you and your family members who
are then under Intervoice’s coverage have become eligible and qualified for comparable
coverage (including any preexisting-condition requirements) under another employer’s plan.
To receive this waiver of the employer portion of premium costs, you must (i) make the COBRA
election referred to in Paragraph 2 above; and (ii) make arrangements with Dee Reel for your
payment of the employee share of monthly premium cost.

4. Separation Payment Conditional on Absence of Certain Acts or Omissions. If for actions
or omissions related to your employment with Intervoice, you are arrested or indicted for any
felony, other criminal offense punishable by imprisonment or jail term of one year or more, or any
violation of federal or state securities laws, or have any civil enforcement action brought against
you by any regulatory agency (or if Intervoice is charged with or indicted for any criminal offense
or has a civil enforcement action brought against it because of your actions or omissions),
Intervoice may suspend any payments remaining under Paragraph 3(a) until the final resolution of
such criminal or civil proceedings or until such earlier date on which Intervoice’s Board of
Directors (the “Board”) has made a final determination as to whether you committed such an act or
omission. If you are found guilty or enter into a plea agreement, consent decree, or similar
arrangement with respect to any such criminal or civil proceedings, or if the Board determines that
you have committed such an act or omission, (i) Intervoice’s obligation to provide the payments set
out in Paragraph 3(a) shall immediately end (but all other provisions of this Agreement shall
remain in full force and effect), and (ii) you shall repay to Intervoice any amounts paid to you
pursuant to Paragraph 3(a) within 30 days after a written request to do so by Intervoice. If any
such criminal or civil proceedings do not result in a finding of guilt or the entry of a plea
agreement or consent decree or similar arrangement, or the Board determines that you have not
committed such an act or omission, Intervoice shall pay you any payments that it has suspended,
with interest on such suspended payments at its cost of funds, and shall make any remaining
payments due under Paragraph 3(a).

5. Return of Property. Whether or not you accept the terms of this Agreement, you must
return to Intervoice any and all items of its property, including without limitation keys,
badge/access card, computers, software, cellphones, calculators, equipment, credit cards, forms,
files, manuals, correspondence, business records, personnel data, lists of employees, employee
salary and benefits information, customer lists and files, lists of

 

 

Mr. Ronald Nieman

September 19, 2006

Page 4

suppliers and vendors, price
lists, contracts, contract information, marketing plans, brochures, catalogs, training materials,
product samples, computer data storage media of any kind, computer-readable files and data stored
on any hard drive or other installed device, and data processing reports, and any and all other
documents or property which you have had possession of or control over during the course of your
employment with Intervoice. You must return all such property to Intervoice by no later than the close of business
on September 29, 2006. If you have any Intervoice property that is not immediately available to
you, please make arrangements for its prompt return. By your signature below, you represent that
you have complied with these requirements.

6. Use of Confidential and Proprietary Information. You are a party to an agreement with
Intervoice entitled “Employee Agreement on Ideas, Inventions and Confidential Information,” your
obligations under which remain fully in force and unaffected by the terms of this Agreement.
Except as authorized by Intervoice, you must not disclose or deliver to anyone, whether employed by
or outside Intervoice, any confidential information or material. This requirement covers and
includes all information concerning technical, administrative, management, financial, or marketing
activities (such as design, manufacturing, and procurement specifications, procedures,
manufacturing processes, information processing, marketing plans and strategies, customer names,
and cost and financial data) and physical embodiments of such information (such as drawings,
specification sheets, recording media for machine information processing systems, documentation,
software, data, contracts, reports, customer lists, manuals, quotations, correspondence, and
samples) relating to the business of Intervoice (including information or material received by
Intervoice or its subsidiaries from others, including Intervoice’s customers) and intended by
Intervoice to be kept in confidence by its recipients. In the context of this Agreement,
confidential information is information and knowledge obtained during the course of your employment
relationship with Intervoice and its subsidiaries and which (i) is personal or nonpublic in nature
(such as, for example, information relating to an employee’s salary or performance) or (ii) would
provide a competitive advantage to a third party if such information or knowledge were otherwise
known to such third party. You must not remove any materials containing information covered by
this paragraph from Intervoice’s premises or make any copies of such materials except for use in
Intervoice’s business.

In the event it appears that you will be compelled by law or judicial process to disclose any such
confidential information as is referred to above, to avoid potential liability you should notify
Intervoice’s Senior Vice President Human Resources in writing immediately upon your receipt of a
subpoena or other legal process. By your signature below, you represent that you will comply with
these requirements.

7. General Release. In consideration of the mutual promises and undertakings herein and
the Special Separation Compensation as described in Paragraph 3 above, you and your family members,
heirs, successors, and assigns (collectively the “Releasing Parties”) hereby release, acquit, and
forever

 

 

Mr. Ronald Nieman

September 19, 2006

Page 5

waive and discharge any and all claims and demands of whatever kind or character, whether
vicarious, derivative, or direct, that you or they, individually, collectively, or otherwise, may
have or assert against: (i) Intervoice; (ii) any direct or indirect subsidiary or other affiliated
entity of Intervoice; or (iii) any officer, director, fiduciary, agent, employee, representative,
insurer, attorney, or any successors and assigns of the persons or entities just named (collectively the “Released Parties”).
This General Release includes but is not limited to any claim or demand based on any federal,
state, or local statutory or common law or constitutional provision that applies or is asserted to
apply, directly or indirectly, to the formation, continuation, or termination of your employment
relationship with Intervoice. Thus, you and the other Releasing Parties agree to waive to the
maximum extent permitted by law any claims or demands against Intervoice or any of the other
Released Parties such as for wrongful discharge; unlawful employment discrimination on the basis of
age or any other form of unlawful employment discrimination; retaliation; breach of contract
(express or implied); breach of the duty of good faith and fair dealing; violation of the public
policy of the United States, the State of Texas, or any other state; intentional or negligent
infliction of emotional distress; tortious interference with contract; promissory estoppel;
detrimental reliance; defamation of character; duress; negligent misrepresentation; intentional
misrepresentation or fraud; invasion of privacy; loss of consortium; assault; battery; conspiracy;
bad faith; negligent hiring, retention, or supervision; any intentional or negligent act of
personal injury; any alleged act of harassment or intimidation; or any other intentional or
negligent tort; or any alleged violation of the Age Discrimination in Employment Act of 1967
(“ADEA”), Title VII of the Civil Rights Act of 1964, as amended, the Americans with Disabilities
Act of 1990, the Family and Medical Leave Act of 1993, the Employee Retirement Income Security Act
of 1974, the Fair Labor Standards Act, the Fair Credit Reporting Act, the Sarbanes-Oxley Act of
2002, the Texas Wage Payment Statute, and any other applicable federal, state, and local employment
statutes.

This release includes any claims or demands for damages (actual or punitive), back wages, future
wages or front pay, commissions, bonuses, severance benefits, medical expenses and the costs of any
counseling, reinstatement or priority placement, promotion, vacation leave benefits, past and
future medical or other employment benefits (except as to which there is, as of the Separation
Date, existing contractual or vested entitlement) including contributions to any employee benefit
plans, retirement benefits (except as to which there is, as of the Separation Date, vested
entitlement), relocation expenses, compensatory damages, injunctive relief, liquidated damages,
penalties, equitable relief, attorney’s fees, costs of court, disbursements, interest, and any and
all other loss, expense, or detriment of whatever kind or character resulting from, growing out of,
connected with, or related in any way to the formation, continuation, or termination of your
employment relationship with Intervoice.

 

 

Mr. Ronald Nieman

September 19, 2006

Page 6

Further, you forever waive any right to monetary recovery from the Released Parties, whether sought
directly by you or in the event any administrative agency or other public authority, individual, or
group of individuals should pursue any claim on your behalf; and you will not request or accept
from the Released Parties, as compensation or damages related to your employment or the termination of your employment by Intervoice, anything of value that is not provided for in this
Agreement.

This General Release does not apply to any rights or claims that may arise after the date this
Agreement is executed. As provided by law, after you have signed this Agreement, you will still
have an additional seven days in which to reconsider and revoke your acceptance, if you wish.

8. Waiver of Jury Trial. In the event that any dispute arising from or related to this
Agreement or your employment with Intervoice results in a lawsuit, both Intervoice and you mutually
waive any right each may otherwise have for a jury to decide the issues in the lawsuit, regardless
of the party or parties asserting claims in the lawsuit or the nature of such claims. Intervoice
and you irrevocably agree that all issues in any such lawsuit shall be decided by a judge rather
than a jury.

9. Confidentiality, Cooperation, and Other Commitments. You agree that:

(a) Confidentiality. The terms of this Agreement shall be and remain confidential,
and shall not be disclosed by you to any party other than your spouse, attorney, and
accountant or tax return preparer, if such persons have agreed to keep such information
confidential, and except as otherwise may be required by law, regulation, or judicial
process. It shall not be a breach of the obligations set forth in this subparagraph for
you, your spouse, or your attorneys to state to any person that any differences between you
and Intervoice have been settled or satisfactorily resolved.

(b) Cooperation. You will cooperate fully and completely with Intervoice or any of
the other Released Parties, at their request, in all pending and future litigation,
investigations, arbitrations, and/or other fact-finding or adjudicative proceedings, public
or private, involving Intervoice or any of the other Released Parties. This obligation
includes your promptly meeting with counsel for Intervoice or the other Released Parties at
reasonable times upon their request, and providing testimony in court, before an arbitrator
or other convening authority, or upon deposition, that is truthful, accurate, and complete,
according to information known to you. If you appear as a witness in any pending or future
litigation, arbitration, or other fact-finding or adjudicative proceeding at the request of
Intervoice or any of the other Released Parties, Intervoice agrees to reimburse you, upon
submission of substantiating documentation, for necessary and reasonable expenses incurred
by you as a result of your testifying.

 

 

Mr. Ronald Nieman

September 19, 2006

Page 7

(c) Assistance to Others in Claims or Litigation. Except as requested by
Intervoice, as permitted by valid law or regulation that supersedes the terms of this
Agreement, or as compelled by law or judicial process, you will not assist, cooperate with,
or supply information of any kind to any individual or private-party litigant or their agents or attorneys in any claims or litigation against Intervoice or any
of the other Released Parties.

(d) No Other Proceedings. Except as permitted by valid law or regulation that
supersedes the terms of this Agreement, you will not initiate any investigation, inquiry, or
any other proceeding of any kind with respect to Intervoice’s facilities, workplace safety,
or sales or business operations.

(e) Nondisparagement; Handling of Inquiries. You will not make to any other parties
any statement, oral or written, which directly or indirectly impugns the quality or
integrity of Intervoice’s or any of the other Released Parties’ business or employment
practices, or any other disparaging or derogatory remarks about Intervoice or any of the
other Released Parties, their officers, directors, stockholders, managerial personnel, or
other employees; and Intervoice shall instruct its officers not to make any disparaging or
derogatory remarks about you. Nothing herein, however, is intended to or shall act in any
manner to prevent you or Intervoice’s officers from presenting testimony under oath, in any
legal proceeding, that is truthful and accurate. Any direct inquiries to Intervoice from
potential employers will receive Intervoice’s normal response, pursuant to its current
established policy, which provides for release solely of the following information:
verification of (i) name, (ii) last job title held, and (iii) dates of service.

10. Agreement Not to Seek Reemployment. To prevent any future dispute regarding further
employment with Intervoice, you hereby agree: (i) that you will not ever apply for or otherwise
seek employment by Intervoice or any subsidiary or other Affiliate of Intervoice at any time in the
future, at any location, office, or place of business, and (ii) that your forbearance to seek
future employment as just stated is purely contractual and is in no way involuntary,
discriminatory, or retaliatory.

11. Agreement Regarding Solicitation of Employees, Customers, and Suppliers. For a period
of one year following the Separation Date, and thereafter to the extent provided by law, you will
not directly or indirectly, for your own account or for the benefit of any other person or party:

(a) Solicit, induce, entice, or attempt to entice any employee, contractor, or subcontractor
of Intervoice to terminate his or her employment or contract with Intervoice; or

(b) Solicit, induce, entice, or attempt to entice any customer or supplier of Intervoice,
including any firms that have been customers or suppliers of Intervoice

 

 

Mr. Ronald Nieman

September 19, 2006

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within one year
preceding the Separation Date, to terminate its business relationship with Intervoice.

Should you breach this obligation, Intervoice will be entitled to enforce the provisions of this
paragraph by seeking injunctive relief in addition to recovering any monetary damages
Intervoice may sustain as a result of such breach, and you may be required to repay the Special
Separation Compensation provided to you by this Agreement.

12. Nonadmission of Liability or Wrongdoing. This Agreement does not in any manner
constitute an admission of liability or wrongdoing on the part of Intervoice or any of the other
Released Parties, but Intervoice and the other Released Parties expressly deny any such liability
or wrongdoing; and, except to the extent necessary to enforce this Agreement, neither this
Agreement nor any part of it may be construed, used, or admitted into evidence in any judicial,
administrative, or arbitral proceedings as an admission of any kind by Intervoice or any of the
other Released Parties.

13. Authority to Execute. You represent and warrant that you have the authority to execute
this Agreement on behalf of all the Releasing Parties.

14. Governing Law and Interpretation. This Agreement and the rights and duties of the
parties under it shall be governed by and construed in accordance with the laws of the State of
Texas, without regard for any conflicts-of-laws provisions. If any provision of this Agreement is
held to be unenforceable, such provision shall be considered separate, distinct, and severable from
the other remaining provisions of this Agreement, and shall not affect the validity or
enforceability of such other remaining provisions; and in all other respects, this Agreement shall
remain in full force and effect. If any provision of this Agreement is held to be unenforceable as
written but may be made to be enforceable by limitation thereof, then such provision shall be
enforceable to the maximum extent permitted by applicable law. The language of all parts of this
Agreement shall in all cases be construed as a whole, according to its fair meaning, and not
strictly for or against any of the parties.

15. Breach of Agreement.

(a) If you should fail to comply with any of your obligations as set forth in this
Agreement, Intervoice shall have all rights and remedies lawfully available to it, including
but not limited to (i) ceasing to make any unpaid installments of the Special Separation
Compensation described above, and (ii) instituting a legal action to require you to repay so
much of the Special Separation Compensation as has already been remitted to you; but all
other provisions of this Agreement shall remain in full force and effect.

(b) Additionally, if, notwithstanding your release and waiver of claims as described in
Paragraph 7 above, you or any other of the Releasing Parties (or any other party asserting
any claim derivative of your own) should nonetheless

 

 

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proceed to make any such claims against
the Released Parties by bringing an action in a federal, state, or municipal court, or
before any administrative body that has the power to make a monetary or equitable award,
then in addition to any other legal or equitable remedies available to Intervoice for your
breach of this Agreement, Intervoice may seek, and the court or other body hearing the
claims may hold you liable for, Intervoice’s damages and costs, including attorney’s fees,
incurred in defending against your claims. The foregoing provision does not apply with
respect to an action brought under the ADEA in which the provisions of this Agreement are
challenged. With respect to any such action, the first sentence of this subparagraph is
modified to state: “If, notwithstanding your release and waiver of claims as described in
Paragraph 7 above, you should nonetheless proceed to make any such claims by bringing an
action in a federal, state, or municipal court, or before any administrative body that has
the power to make a monetary or equitable award, the court or other body hearing your claims
may allow the employer to recover attorney’s fees and/or costs specifically authorized under
federal law or as may otherwise be determined by the court or other body hearing the
claims.”

16. Expiration of Offer. Intervoice’s offer of the proposed Special Separation
Compensation will expire at 10:00 a.m on the 46th day after the date on which you are furnished
certain information regarding other affected employees, as further explained in Paragraph 17 below.
That information is expected to be available and furnished to you on or about September 26, 2006.
After you have received and reviewed such information, and not earlier, you may then accept this
offer at any time before expiration by signing this letter in the space provided below, and
returning it confidentially to Don Brown, Intervoice’s Senior Vice President Human Resources.
Whether or not you execute this Agreement, you will receive the items set forth in Paragraph 2, and
are required to follow the obligations set forth in Paragraphs 5 and 6.

17. Information Regarding Other Affected Employees. Intervoice will furnish to you a
document informing you as to (i) the group of employees (including yourself) selected for
termination of employment in connection with Intervoice’s workforce adjustment arising from the
Nuasis asset purchase transaction, with their job titles and ages and other pertinent information;
and (ii) the ages of all employees in the decisional unit (i.e., the organizations or job
classifications from which affected employees were selected) who were not selected for termination
of employment. You and all other employees selected for termination are being offered a special
separation payment.

18. Consultation With an Attorney. You have the right and are encouraged by Intervoice to
consult with an attorney of your choosing before executing this Agreement.

19. Effective Date. This Agreement will become effective and enforceable upon the
expiration of seven days after your execution and return of this document (“Effective

 

 

Mr. Ronald Nieman

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Date”). At
any time before the Effective Date of this Agreement, you may revoke your acceptance.

20. Exempt from IRC § 409A. The parties intend that all payments made hereunder be exempt
from Section 409A of the Internal Revenue Code pursuant to Proposed Treasury Regulation Section
1.409A(b)(9)(iii) and (iv).

21. Voluntary Agreement. You acknowledge that execution of this Agreement is knowing and
voluntary on your part, and that you have had a reasonable time to deliberate regarding its terms.

22. Consideration. Whether expressly stated herein or not, all obligations that you assume
and undertakings that you make by executing this Agreement are understood to be in consideration of
the mutual promises and undertakings herein and the Special Separation Compensation offered to you
as described in Paragraph 3 above. Further, by executing this Agreement, you acknowledge and agree
that neither Intervoice nor any of the other Released Parties has any legal obligation to provide
the Special Separation Compensation to you.

23. Entire Agreement. Except with respect to the “Employee Agreement on Ideas, Inventions
and Confidential Information” referred to in Paragraph 6 hereof, this Agreement contains and
constitutes the entire understanding and agreement between you and Intervoice as to its subject
matter, and may be modified only by a writing of contemporaneous or subsequent date executed by
both you and an authorized official of Intervoice.

24. Severability. If any provision of this Agreement shall be determined by a court to be
invalid or unenforceable, the remaining provisions of this Agreement shall not be affected thereby,
shall remain in full force and effect, and shall be enforceable to the fullest extent permitted by
applicable law.

 

[The remainder of this page is intentionally left blank.]

 

 

Mr. Ronald Nieman

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Page 11

If you are in agreement with the foregoing provisions, please execute both copies of this letter in
the space provided below. You should return one executed original to the undersigned, and maintain
the other executed original in your files. Seven days after your unrevoked execution and return of
this Agreement to the undersigned, it shall constitute a valid and binding agreement by and between
Intervoice and you.

Sincerely,

INTERVOICE, INC.

	 	 	 	 	 
	 	 	 
	By:  	/s/ H. Don Brown
 	 	 
	 	H. Don Brown 	 	 
	 	Senior Vice President Human
Resources	 

ACCEPTED AND AGREED TO:

/s/ Ronald Nieman

 

Ronald Nieman

Date
Signed: October 2, 2006

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