Document:

Separation Agreement

 Exhibit 10.1 
 SEPARATION AGREEMENT AND RELEASE 
 This Separation Agreement and Release (this “Agreement”)
is made by and between Genesis Microchip Inc. (including any company or organization that Genesis Microchip Inc. has acquired in the past and any subsidiary or affiliate of Genesis Microchip Inc.) (the “Company”), and Raphael Mehrbians
(“Executive”) (collectively referred to as the “Parties”): 
 WHEREAS, Executive is employed by the Company as the Senior
Vice President of Product Marketing; 
 WHEREAS, the Company and Executive have entered into the Confidentiality and Property Rights
Agreements dated February 8th, 2002 (the “Confidentiality Agreement”); 
 WHEREAS, the Parties have mutually determined that a termination of the employment relationship would be in the best interest of the Company, and
therefore Executive will resign from his employment with the Company effective October 31, 2006 (the “Termination Date”); 
 WHEREAS, as of the Termination Date, Executive has been granted options to purchase an aggregate amount of 227,167 shares of the Company’s common stock pursuant to the Company’s 1997 Employee Stock Option Plan and the 2000
Nonstatutory Stock Plan (collectively, the “Company Stock Plans”) and 2,716 restricted stock units (“RSUs”) pursuant to the Company’s 1997 Employee Stock Option Plan, and the related stock award agreements (collectively, the
“Stock Award Agreements”); 
 WHEREAS, the Parties, and each of them, wish to resolve any and all disputes, claims, complaints,
grievances, charges, actions, petitions and demands that the Executive may have against the Company as defined herein, including, but not limited to, any and all claims arising or in any way related to Executive’s employment with, or separation
from, the Company; 
 NOW THEREFORE, in consideration of the premises and the agreements made herein, the Parties hereby agree as follows:

 COVENANTS 
 1.
Resignation. Executive hereby resigns from his position as the Company’s Senior Vice President of Product Marketing and any or all other employment positions that may have at any time been held by Executive with the Company or any of its
affiliates, effective the Termination Date. 
 2. Consideration. 
 (a) Cash Lump Sum Payment. The Company agrees to pay Executive a cash lump sum payment of One Hundred Sixty Four Thousand Seven
Hundred Thirty Six Dollars (US$164,736), less applicable withholdings, which amount is equal to 34 weeks of his base salary (the “Severance Payment”). The Severance Payment shall be paid to Executive on the Termination Date.

 (b) COBRA. The Company shall pay Executive a cash lump sum payment of Eight
Thousand Six Hundred Sixty Seven Dollars and Dollars (US$8,667) less applicable withholdings, which is equal to COBRA coverage for a period of eight (8) months. 
 3. Stock Options. The Parties agree that for purposes of determining the number of shares of the Company’s common stock that Employee is
entitled to purchase from the Company pursuant to the exercise of outstanding options, and for purposes of determining the number of releasable RSUs, the Employee will be considered to have vested only up to the Termination Date. Employee
acknowledges that as of the Termination Date, he will have vested in 52,851 options and 322 RSUs, and no more. The exercise of any stock awards shall continue to be subject to the terms and conditions of the Stock Award Agreement(s) and the
applicable Company Stock Plan(s). Executive’s period to exercise his stock options, to the extent vested, shall be extended to the latest date permissible under the “safe harbor” from Section 409A of the Internal Revenue Code,
which is currently February 15, 2007 for options issued under the Company’s 1997 Employee Stock Option Plan, and December 31, 2007 for options issued under the Company’s 2000 Nonstatutory Stock Plan. 
 4. Benefits. Executive’s health insurance benefits with the Company will cease on the Termination Date, subject to the benefits described in
paragraph 2(c), and subject to Executive’s right to continue his health insurance coverage under COBRA after expiration of the benefits described in paragraph 2(c). All other benefits and incidents of employment, including, but not limited to
paid time off, ceased on the Termination Date. The Executive shall receive payment for his accrued and unused Paid Time Off (“PTO”) balance on the Termination Date. 
 5. Trade Secrets and Confidential Information/Company Property. Executive reaffirms and agrees to observe and abide by the terms of the
Confidentiality Agreement, specifically including the provisions therein regarding nondisclosure of the Company’s trade secrets and confidential and proprietary information, and non-solicitation of Company employees. Executive’s signature
below constitutes his certification under penalty of perjury that he has returned all documents and other items provided to Executive by the Company, developed or obtained by Executive as a result of his employment, or otherwise belonging to the
Company, except as otherwise provided herein. The Company agrees to provide the Executive at no cost his current Dell Notebook Computer after the Company has reviewed and removed all Company information from the computer. 
 6. Payment of Compensation. Executive acknowledges and represents that the Company has paid all salary, wages, bonuses, accrued vacation, housing
allowances, tax services, relocation expenses, medical costs, immigration expenses, vehicle allowance, general expenses, legal fee reimbursement, interest, severance, outplacement costs, fees, stock, stock options, vesting, commissions and any and
all other benefits and compensation due to Executive, once the Severance Payment, Bonus, PTO and COBRA benefits set forth herein are provided. Executive has ten (10) business days from the Termination Date to file any remaining expense reports
and the Company shall have ten (10) business days from the date of receipt of such expense reports to make any appropriate reimbursements to Executive, pursuant to the Company’s regular policies and practices related to expense
reimbursement. 
 7. Trading in Company Stock. Executive acknowledges his continued obligation to abide by the Company’s Insider
Trading Policy. 
  

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 8. Release of Claims. Executive agrees that the foregoing consideration represents settlement in
full of all outstanding obligations owed to Executive by the Company and its current and former officers, directors, employees, agents, investors, attorneys, advisors, shareholders, administrators, affiliates, divisions, subsidiaries, predecessor
and successor corporations and assigns (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 Executive may possess against any of the Releasees arising from any omissions, acts or facts that have occurred up until and including the date Executive signs this
Agreement including, without limitation: 
 (a) any and all claims relating to or arising out of Executive’s employment
relationship with the Company and the termination of that relationship; 
 (b) any and all claims relating to, or arising
from, Executive’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 under the law of any jurisdiction including,
but not limited to, wrongful discharge of employment; termination in violation of public policy; discrimination; harassment; retaliation; breach of contract, both express and implied; breach of a covenant of good faith and fair dealing, fraud and
fraudulent inducement, both express and implied; promissory estoppel; negligent or intentional infliction of emotional distress; 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 Employee Retirement Income
Security Act of 1974; the Worker Adjustment and Restraining Notification Act; the Family and Medical Leave Act; the California Family Rights Act; the California Fair Employment and Housing Act, and the California Labor Code, including, but not
limited to Labor Code Sections 1400-1408; 
 (e) any and all claims for violation of the federal, or any state, constitution;

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

 (g) any and all claims for attorneys’ fees and costs; and 
 (h) 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 Executive as a result of this Agreement. 
  

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 Executive 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. 
 9. Acknowledgment of Waiver of Claims under ADEA. Executive 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. Executive and the Company agree that this waiver and release does not apply to any rights or claims that may arise under ADEA after the Effective Date of this Agreement. Executive acknowledges
that the consideration given for this waiver and release Agreement is in addition to anything of value to which Executive was already entitled. Executive 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 at least twenty-one (21) days within which to consider this Agreement; (c) he has at least seven (7) days following the execution of this Agreement by the
parties to revoke the Agreement; (d) this Agreement, and all of the terms and conditions hereof, shall not be effective until the revocation period has expired; and (e) nothing in this Agreement prevents or precludes Executive 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 from doing so, unless specifically authorized by law. 
 10. Civil Code Section 1542. Executive represents that he is not aware of any claim other than the claims that are released by this
Agreement. Executive acknowledges that he has been advised by legal counsel and is familiar with the provisions of California Civil Code Section 1542, which provides as follows: 
 A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH
IF KNOWN BY HIM MUST HAVE MATERIALLY AFFECTED HIS SETTLEMENT WITH THE DEBTOR. 
 Executive, 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. 
 11. No Pending or Future Lawsuits. Executive represents that he has no lawsuits, claims, or actions pending in his name, or on behalf of any other person or entity, against any of the Releasees. Executive 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 any of the Releasees. 
 12.
Non-Disparagement. Executive agrees to refrain from any defamation, libel or slander of the Releasees or tortious interference with the contracts and relationships of the Releasees. All inquiries by potential future employers of Executive
will be directed to the Company’s Vice President of Human Resources if there shall be one, and otherwise to its President. 
 13.
Application for Employment. Executive understands and agrees that, as a condition of this Agreement, he shall not be entitled to any employment with the Company, and he hereby waives any right, 
  

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 or alleged right, of employment or re-employment with the Company. Executive further agrees that he will not apply for
employment with the Company. Company agrees not to contest any application for California State Unemployment Benefits made by the Executive. 
 14. Confidentiality. Executive agrees to maintain in complete confidence the contents and terms of this Agreement and the consideration for this Agreement (hereinafter collectively referred to as “Separation Information”)
until such time as, and to the extent that, the Separation Information is publicly disclosed by the Company in a filing with the SEC or otherwise. Except as required by law, Executive may disclose Separation Information only to his immediate family
members, the Court in any proceedings to enforce the terms of this Agreement, Executive’s legal counsel, his accountant and any professional tax advisor to the extent that they need to know the Separation Information in order to provide advice
on tax treatment or to prepare tax returns, and shall take every reasonable precaution to prevent disclosure of any Separation Information to all other third parties. Executive agrees that he will not publicize, directly or indirectly, any
Separation Information. 
 15. Cooperation in Litigation. Executive 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 any of the Releasees, unless under a subpoena or other court order to do so. Executive 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 court order to the Company. If approached by anyone for counsel
or assistance in the presentation or prosecution of any disputes, differences, grievances, claims, charges, or complaints against any of the Releasees, Executive shall state no more than that he cannot provide counsel or assistance. Executive
further agrees to make himself reasonably available to provide information and assistance to the Company in any disputes, lawsuits, differences, grievances, claims, charges, or complaints brought against the Company, including, but not limited to
making himself available to provide testimony and serve as a witness. 
 16. No Admission of Liability. Executive understands and
acknowledges that this Agreement constitutes a compromise and settlement of any and all 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 Executive or to any third party. 
 17. Non-Solicitation. Executive agrees that for a period of twelve (12) months immediately following the Effective Date of this Agreement,
Executive shall not either directly or indirectly solicit, induce, recruit or encourage any of the Company’s employees or consultants to leave their employment or service relationship, or attempt to do so, either for himself or any other person
or entity. 
 18. Breach. Executive acknowledges and agrees that any breach of any provision of this Agreement, except as permitted by
paragraph 9(e), shall constitute a material breach of this Agreement and shall entitle the Company immediately to recover and/or cease the severance benefits provided to Executive under this Agreement. 
 19. 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 binding 
  

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 arbitration in Santa Clara County before the American Arbitration Association under its National Rules for the Resolution
of Employment Disputes. 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 Parties agree that the prevailing party in any
arbitration shall be awarded its reasonable attorneys’ fees and costs. 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. This paragraph 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 Executive’s obligations under this Agreement and the Confidentiality
Agreement. 
 20. No Knowledge of Wrongdoing. Executive represents that he has no knowledge of any wrongdoing involving improper or
false claims against a federal or state governmental agency, or any other wrongdoing that involves any of the Releasees. 
 21.
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. Executive 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. 
 22. No
Representations. Executive represents that he has consulted with an attorney, and has carefully read and understands the scope and effect of the provisions of this Agreement. Executive has not relied upon any representations or statements made
by the Company which are not specifically set forth in this Agreement. 
 23. Severability. In the event that any provision or any
portion of any provision hereof becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable or void, this Agreement shall continue in full force and effect without said provision or portion of provision. 
 24. Attorneys’ Fees. 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, plus reasonable attorneys’ fees, incurred in connection with such an action. 
 25. Entire Agreement. This Agreement represents the entire agreement and understanding between the Company and Executive concerning
Executive’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, offer letters, and understandings concerning Executive’s
relationship with the Company, with the exception of the Confidentiality Agreement and the Stock Option Agreements, as may be amended hereby. 
 26. No Oral Modification. This Agreement may only be amended in writing signed by Executive and the Company’s then chief executive officer. 
  

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 27. No Waiver. The failure of the Company to insist upon the performance of any of the terms and
conditions in this Agreement, or the failure to prosecute any breach of any of the terms and conditions of this Agreement, shall not be construed thereafter as a waiver of any such terms or conditions. This entire Agreement shall remain in full
force and effect as if no such forbearance or failure of performance had occurred. 
 28. Governing Law. This Agreement shall be
governed by the laws of the State of California, without regard for choice of law provisions. 
 29. Effective Date. This Agreement
will become effective after it has been signed by both Parties and after seven (7) days have passed since Executive signed the Agreement (the “Effective Date”). 
 30. 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. 
 31. Survival of
the Agreement. This Agreement shall not be terminated by any dissolution of the Company resulting from either a merger or consolidation, in which the Company is not the surviving or consolidated corporation, or a transfer of all or substantially
all of the assets of the Company. If either event described in this Paragraph 30 occurs, the rights, benefits, and obligations set forth in this Agreement shall automatically be assigned to the surviving or resulting corporation or to the transferee
of the assets. 
 32. Voluntary Execution of Agreement. This Agreement is executed voluntarily and without any duress or undue
influence on the part or behalf of the Parties hereto, with the full intent of releasing all claims. The Parties acknowledge that: 
 (a) They have read this Agreement; 
 (b) They have been represented in the preparation, negotiation, and execution
of this Agreement by legal counsel of their own choice; 
 (c) They understand the terms and consequences of this Agreement
and of the releases it contains; 
 (d) They are fully aware of the legal and binding effect of this Agreement. 

 

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

  

					
	 	 	Raphael Mehrbians, an individual
		
	Dated: October 20, 2006	 	 /s/ Raphael Mehrbians

		 	Raphael Mehrbians
		
		 	Genesis Microchip Inc.
			
	Dated: October 19, 2006	 	By:	 	 /s/ Elias Antoun

		 		 	Elias Antoun
		 		 	President & Chief Executive Officer

  

 -8-Letter Agreement

 Exhibit 10.1 
 July 14, 2006 
  
 Mr. Stuart F. Fleischer 
 4 Midfarm Road 
 Rockville Centre, NY 11570 
 Dear Stuart: 
 On behalf of Q.E.P. Co., Inc.
(the “Company”), it is my pleasure to extend to you this offer of employment. You shall serve and have the title as Chief Financial Officer of the Company. You agree to serve the Company diligently and faithfully, to perform all duties to
the best of your ability, be present at the Company’s headquarters during working hours consistent with other members of senior management, and to devote your full business time and best efforts to the conduct of the Company’s business in
accordance with Company policy. You shall perform such duties as reasonably directed by the Company’s Chief Executive Officer, consistent with the bylaws of the Company and as reasonably required by the Company’s Board of Directors.

 Your date of hire will be August 1, 2006. Your base salary, which shall be paid in accordance with the Company’s payroll practices, shall be at
an annual rate of $300,000. Your base salary may be increased from time to time, by the Company’s Board of Directors in its sole and absolute discretion. You shall be eligible to receive an annual bonus at the discretion of the Company’s
Board of Directors, up to a maximum of 40% of your current base salary, provided that your bonus shall be not less than $45,000 (on a non-prorated basis) for the fiscal year ending February 28, 2007, subject to your continued employment as of
the end of the fiscal year. 
 Subject to the approval of the Board of Directors, upon your execution of this letter agreement you will be granted an option
to purchase 50,000 shares of Company common stock at the fair market value on the grant date. Such options will vest in three equal installments on the first, second and third anniversary dates of your of employment, and will expire after 10 years.

 You shall be eligible to participate in any Company employment retirement, benefit and/or 401(k) plan, including without limitation Company health care
benefits, consistent with the Company’s policy as it applies to senior management, and you and your family will be exempt from any delay periods required for eligibility, unless such exemption creates a violation of the plan. The Company
agrees, however, to pay any costs you incur for COBRA coverage until such date as you are eligible to participate in the Company’s healthcare plan. You will be eligible for four weeks of paid vacation annually, in addition to the Company’s
standard paid holidays. Your vacation time for the 2007 and 2008 fiscal years will accrue pro rata on a monthly basis. You will not be 
  

 able to rollover any used vacation time from one year to another. Nor will you receive payment in cash for any annual
unused vacation time, except in the event of termination of your employment by the Company (other than for Cause), in which case you will receive payment for accrued unused vacation time for the current year. The Company will provide you an
automobile allowance of $750 per month, and you are eligible for an allowance of up to $2,000 per year to pay for professional association and membership dues and fees, and subscriptions to professional publications. You shall be issued a company
credit card for payment of normal and customary business expenses that you may incur in the course of your employment on behalf of the Company. Additionally, you shall be named as an additional insured under the Company’s directors and
officers’ insurance policy. 
 You agree to relocate from New York to South Florida on or before September 1, 2007. During the period before your
permanent relocation, the Company will reimburse you for reasonable and documented expenses in accordance with Company policy in connection with your relocation to South Florida (other than moving expenses), including housing during your visits
before your permanent relocation. In addition, you shall be entitled to a reimbursement for reasonable and documented moving costs and expenses for you and your family (not including more than one car or any boats). Such reimbursement amount shall
be based on your hiring the moving company that provides the best of three estimates in accordance with Company policy. Upon permanent relocation of you and your family to South Florida within a reasonable distance of the Company’s
headquarters, you will receive an additional payment equal to one month’s compensation of your current base salary. 
 The Company may terminate your
employment for any reason upon at least thirty days prior written notice to you, such termination to be effective on the date specified in the notice, provided that such date is no earlier than thirty days from the date of delivery of the notice.
Likewise, you may terminate your employment with the Company for any reason upon at least thirty days prior written notice to the Company, such termination to be effective on the date thirty days following the date of the notice. Notwithstanding
anything herein to the contrary, the Company may terminate you immediately at any time for Cause. For purposes of this letter agreement, Cause shall mean: 
 (a) willful malfeasance; (b) your fraud, misappropriation or embezzlement; (c) your engaging in gross misconduct that is injurious to the Company including, without limitation, any act of sexual harassment; (d) an act or acts
of dishonesty on your part which are intended to result in personal enrichment at the expense of the Company; or (e) your conviction or a pleading of guilty or nolo-contendre with respect to the commission of any felony or a crime of moral
turpitude. 
 In the event your employment is terminated by the Company without Cause or by you for Good Reason, you shall receive six months compensation
based on your current base salary. In the event your employment is terminated by the Company for Cause, all of your unvested stock options shall expire immediately upon the earlier of the occurrence of such event or the last day of your employment.
For the purposes of this letter 

 agreement “Good Reason” shall mean (i) the Company’s material failure to perform its duties pursuant
to this letter agreement, (ii) any material diminishment in your duties and responsibilities, working facilities, or compensation, or (iii) your location of employment is moved more than fifty miles from where the Company’s
headquarters is located on the date of this letter agreement, provided that such termination takes place within ninety days after receipt by you of written notice of such relocation, and provided that in each instance giving rise to termination
pursuant to this paragraph, you shall not have approved or consented to such action in writing. 
 In the event your employment is terminated without Cause
or with Good Reason within 6 months of a Change of Control, you shall receive one year’s compensation of your current base salary. All your unvested stock options previously awarded shall fully vest upon a Change of Control. For purposes of
this letter agreement, a Change of Control shall be deemed to have occurred upon: 
 (i) a sale of all or substantially all of the Company’s assets to an
unaffiliated third party; 
 (ii) a transaction in which any person, including a “group” as defined in Section 13(d)(3) of the Securities
Exchange Act of 1934, as amended, who owns less than thirty percent of the Company’s capital stock on the date hereof, becomes the beneficial owner of fifty-five percent or more of the capital stock of the Company; or 
 (iii) the merger, consolidation, division or other reorganization of the Company in which its stockholders immediately prior to such transaction cease to own
beneficially and/or of record more than fifty percent of the issued and outstanding shares of the surviving or new company immediately following such transaction. 
 This letter agreement will terminate immediately upon your death or disability. For purposes of this letter agreement, disability will be as defined by any applicable policy of disability insurance or, in the absence of such insurance, by
the Company’s Board of Directors acting in good faith. 
 This letter agreement contains the entire agreement between the parties with respect to the
matters contained herein, superseding any prior oral or written statements or agreements. The provisions in this letter agreement concerning the payment of your base salary will survive any termination or expiration of this letter agreement. The
terms of this letter agreement are severable and may not be amended except in a writing signed by the parties. If any portion of this letter agreement is found to be unenforceable, the rest of this letter agreement will be enforceable except to the
extent that the severed provision deprives either party of a substantial portion of its bargain. You may not assign your rights and obligations hereunder. This letter agreement will be governed by and construed in all respects in accordance with the
laws of the State of Florida, without giving effect to conflicts-of-laws principles. 
 Each person signing below is authorized to sign on behalf of the
party indicated, and in each case such signature is the only one necessary. 

 Please sign below and return a signed copy of this letter to indicate your agreement with its terms and conditions.

 We are looking forward to your joining our organization. 
  

			
	Sincerely yours,
	
	Q.E.P. Co., Inc.
	
	 /s/ Lewis Gould

	By: Lewis Gould, President
	
	Acknowledged and agreed by:
	
	EMPLOYEE:
	
	 /s/ Stuart Fleischer

	Stuart Fleischer
	
	Date: July 20, 2006

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