Document:

Amended and Restated Severance Compensation Agreement

 EXHIBIT 10.7 
 AMENDED AND RESTATED SEVERANCE COMPENSATION AGREEMENT 
 Dated as of June 11, 2007 
 COMARCO, Inc. corporation (the “Company”) 
 and 
 Peggy L. Vessell Eoff (the “Executive”) 
 The Company’s Board of Directors (the “Board”) has determined that it is appropriate to reinforce and encourage the continued attention
and dedication of members of the Company’s management, including the Executive, to their assigned duties without distraction in potentially disturbing circumstances arising from the possibility of a change in control of the Company. 

This Agreement sets forth the severance compensation which the Company agrees it will pay to the Executive if the Executive’s employment with the
Company terminates under one of the circumstances described herein following a “Change in Control” of the Company (as defined in Section 2). 
 l. Term. The term (“Term”) of this Agreement shall commence on the date hereof and, subject to earlier termination pursuant to Section 3(b), 3(c) or 3(d) hereof, shall end three (3) years
following the date on which notice of non-renewal or termination of this Agreement is given by either the Company or the Executive to the other. Thus, this Agreement shall be renewable automatically on a daily basis so that the outstanding Term is
always three (3) years following any effective notice of non-renewal or of termination given by the Company or the Executive. 
 2.
Change in Control. No compensation shall be payable under this Agreement unless and until (a) there has been a Change in Control of the Company while the Executive is still an employee of the Company and (b) the Executive’s
employment by the Company terminates in the circumstances specified in Section 3(a). For purposes of this Agreement, a “Change in Control” of the Company shall be deemed to have occurred if (i) there shall be consummated
(x) any consolidation or merger of the Company (whether or not the Company is the continuing or surviving entity) other than a consolidation or merger of the Company in which the holders of the Company’s Common Stock immediately prior to
the consolidation or merger continue to have proportionate ownership of at least 50.1% of capital stock of the surviving corporation eligible to vote in the election of directors immediately after the consolidation or merger, or (y) any sale,
lease, exchange or other transfer (in one transaction or a series of related transactions) of all, or substantially all, of the assets of the Company other than to a corporation in which the holders of the Company’s Common Stock immediately
prior to such transaction continue to have proportionate ownership of at least 50.1% of the capital stock of such corporation eligible to vote in the election of directors, or (ii) the stockholders of the Company approve any plan or proposal
for the liquidation or 

 
dissolution of the Company, or (iii) any person (as such term is used in Section l3(d) and l4(d)(2) of the Securities Exchange Act of 1934, as amended
(the “Exchange Act”)), shall become the beneficial owner (within the meaning of Rule 13d-3 under the Exchange Act) of more than 25% of the Company’s outstanding shares of Common Stock, or (iv) during any period of two consecutive
years during the term of this Agreement, individuals who at the beginning of the two year period constituted the entire Board do not for any constitute a majority thereof unless the election, or the nomination for election by the Company’s
stockholders, of each new director was approved by a vote of at least a majority of the directors then still in office who were directors at the beginning of the period or who were elected or nominated for election in the manner provided herein.

 3. Termination Following Change in Control. 
 (a) Termination. If a Change in Control of the Company shall have occurred while the Executive is still an employee of the Company, the Executive shall be entitled to the compensation provided in Section 4
upon the subsequent termination of the Executive’s employment with the Company within twenty-four (24) months of such Change in Control, whether requested by the Executive or by the Company, unless such termination is as a result of
(i) the Executive’s death; (ii) the Executive’s Disability (as defined in Section (3)(b) below); (iii) the Executive’s Retirement (as defined in Section 3(c) below); (iv) the Executive’s decision to
terminate employment other than for Good Reason (as defined in Section 3(e) below). 
 (b) Death or Disability. If, as a result
of the Executive’s incapacity due to physical or mental illness, the Executive is absent from his duties with the Company on a full-time basis for six months, the Company may elect to terminate the Executive for “Disability’ by
written notice to the Executive and without liability to the Executive pursuant to this Agreement; provided, however, that any such termination shall be effective only at the end of thirty (30) days following the delivery of such notice and
only if the Executive fails to return to the full-time performance of duties by the end of such 30-day notice period. In addition, this Agreement shall terminate immediately in the event of the death of the Executive occurring at any time during the
Term hereof, and in such event the Company shall have no liability by reason of such termination. 
 (c) Retirement. The Executive
shall be deemed terminated automatically, without liability to Executive pursuant to this Agreement, upon Retirement (as hereinafter defined) of Executive without liability to the Company pursuant to this Agreement. “Retirement” as used in
this Agreement shall be deemed to occur upon the Executive’s having reached such age as shall have been fixed in any arrangement mutually established by the Company and the Executive. 
 (d) Cause. The Company may terminate the Executive, without liability to the Executive pursuant to this Agreement, if the Executive’s
employment with the Company is terminated for Cause. For purposes solely of determining whether the Company may terminate the Executive pursuant to this Section 3(d) without liability to the Executive, the Executive shall be deemed to have been
terminated for “Cause” only if 

  

 - 2 - 

 
the Executive (1) has engaged in fraud, misappropriation or embezzlement involving the Company, (2) is convicted of or admits a felony or other
offense involving dishonesty or moral turpitude, or (3) willfully refuses to carry out a lawful written instruction of the Board that is consistent with the Executive’s position and duties, which refusal continues for a period of 30 days
after the Executive has received a written notice describing in reasonable detail the circumstances deemed by the Board to constitute such refusal. Notwithstanding the foregoing, the Executive shall not be deemed, for purposes of this Agreement, to
have been terminated for Cause unless and until there shall have been delivered to the Executive a copy of a resolution duly adopted by the affirmative vote of not less than majority of the entire membership of the Company’s Board at a meeting
of the Board called and held for that purpose (after reasonable notice to the Executive and an opportunity for the Executive, together with the Executive’s counsel, to be heard before the Board), finding that in the good faith opinion of the
Board the Executive engaged in the conduct set forth in the second sentence of this Section 3(d) and specifying the particulars thereof in reasonable detail. 
 (e) Good Reason. The Executive may terminate the Executive’s employment for Good Reason at any time after a Change in Control during the Term. For purposes of this Agreement, “Good Reason” shall
mean any of the following: 
 (i) The Company has materially changed the Executive’s position, duties, responsibilities, status, or
offices as in effect immediately prior to a Change in Control of the Company, or has removed the Executive from or failed to reelect the Executive to any of such positions; 
 (ii) A reduction by the Company in the Executive’s base salary as in effect on the date hereof or as the same may be increased from time to time
during the Term; 
 (iii) Any failure by the Company to continue in effect any benefit plan or arrangement (including, without limitation,
the Company’s life insurance, accident, disability and health insurance plans, 40l(k) and bonus plans, stock options, and all other similar plans which are from time to time made generally available to senior executives/officers of the Company)
and in which the Executive is participating at the time of a Change in Control of the Company, unless there are substituted therefore plans or arrangements providing the Executive with essentially equivalent benefits (hereinafter referred to as
“Benefit Plans”), or the taking of any action by the Company which would adversely affect the Executive’s participation in or materially reduce the Executive’s benefits under any such Benefit Plan or deprive the Executive of any
material fringe benefit enjoyed by the Executive at the time of a Change in Control of the Company; 
 (iv) Any failure by the Company to
continue in effect any incentive plan or arrangement (including, without limitation, the Company’s plans enumerated in subparagraph (iii) above and similar incentive compensation benefits) in which the Executive is participating at the
time of a Change in Control of the Company, unless there are substituted therefore plans or arrangements providing the Executive with 

  

 - 3 - 

 
essentially equivalent benefits (hereinafter referred to as “Incentive Plans”), or taking of any action by the Company which would adversely affect
the Executive’s participation in any such Incentive Plan or reduce the Executive’s potential benefits under any such Incentive Plan, expressed as a percentage of his base salary, by more than 10 percentage points in any fiscal year as
compared to the immediately preceding fiscal year; 
 (v) Any failure by the Company to continue in effect any plan or arrangement to
receive securities of the Company (including, without limitation, the Company’s stock option and purchase plans and any other plan or arrangement to receive the exercise stock options, stock appreciation rights, restricted stock or grants
thereof) in which the Executive is participating at the time of a Change in Control of the Company, unless there are substituted therefore plans or arrangements providing the Executive with essentially equivalent benefits (hereinafter referred to as
“Securities Plans”), or the taking of any action by the Company which would adversely affect the Executive’s participation in or materially reduce the Executive’s benefits under any such Securities Plan; 
 (vi) The Executive’s relocation to a principal office more than 25 miles from the location at which the Executive performed the Executive’s
duties prior to a Change in Control of the Company, except for required travel by the Executive on the Company’s business to an extent substantially consistent with the Executive’s business travel obligations during the 12 months
immediately preceding a Change of Control of the Company. 
 (vii) Any failure by the Company to provide the Executive with the number of
paid vacation days to which the Executive is entitled at the time of a Change of Control of the Company; 
 (viii) Any material breach by
the Company of any provision of this Agreement; 
 (ix) Any failure by the Company to obtain the assumption of this Agreement by any
successor or assignee of the Company; or 
 (x) Any purported termination of the Executive’s employment that is not effected pursuant
to a Notice of Termination satisfying the requirements of Section 3(f), and for purposes of this Agreement, no such purported termination shall be effective. 
 (f) Notice of Termination. Any termination of the Executive by the Company for Disability pursuant to Section 3(b) or for Cause pursuant to Section 3(d) shall be communicated by a Notice of
Termination. For purposes of this Agreement, a “Notice of Termination” shall mean a written notice which shall indicate those specific termination provisions in this Agreement relied upon and which set forth in reasonable detail the facts
and circumstances claimed to provide a basis for termination of the Executive’s employment under the provisions so indicated. For purposes of this Agreement, no such purported termination by the Company shall be effective without such Notice of
Termination. 
  

 - 4 - 

 (g) Date of Termination. “Date of Termination” shall mean (i) if the Executive is
terminated by the Company for Disability, 30 days after Notice of Termination is given to the Executive (provided that the Executive shall not have returned to the performance of the Executive’s duties on a full-time basis during such 30-day
period) or (ii) if the Executive is terminated by the Company for any other reason, the date on which a Notice of Termination is given. 
 4. Severance Compensation upon Termination of Employment. Subject to Section 4(e) below, if within twenty-four (24) months following a Change in Control, the Company shall terminate the Executive’s employment other
than pursuant to Section 3(b), 3(c) or 3(d), or if the Executive terminates his employment for Good Reason pursuant to Section 3(e), then: 
 (a) Severance Payment. 
 (i) The Company shall pay to the Executive as severance pay a lump sum (the “Severance
Payment”), in cash, in full as soon as practicable but in no event later than the fifth day following the Date of Termination of an amount equal to (x) the Executive’s highest annual base salary in effect during the 12-month period
immediately preceding the Date of Termination, and (y) the Executive’s incentive compensation bonus that would otherwise be payable to the Executive under the Company’s Bonus Plan then in effect for the year in which the Date of
Termination occurred assuming one hundred percent (l00%) satisfaction of all performance goals established under such Bonus Plan for the Executive, multiplied by 1.00. 
 (ii) In the event that the Company asserts that the Executive has been terminated for “Cause” as provided in Section 3(d), the Executive may within 30 days after a Notice of Termination is given to the
Executive by the Company notify the Company in writing disputes the basis for the termination. After such notice has been timely given by the Executive, if either (x) the Executive prevails in his assertion or (y) the Company changes its
position and voluntarily pays the Severance Payment to the Executive, then in either case as liquidated damages and not any penalty the Company shall also pay to the Executive together with the Severance Payment an additional amount equal to the
Executive’s highest annual base salary in effect during the 12-month period immediately preceding the Date of Termination, pro rated on a daily basis for the period (not to exceed 12 months) from the Date of Termination until the Company
actually pays the Severance Payment to the Executive. 
 (iii) The foregoing payments shall be in addition to any payments or other
compensation that would otherwise be payable to the Executive under any other then existing Severance Plan of the Company. All payments hereunder shall be made net of withholdings required by applicable federal, state or local laws. 
 (b) Stock Options. To the extent permitted by the plans or programs 

  

 - 5 - 

 
under which the same were granted or awarded, all stock options not currently exercisable held by the Executive will accelerate and become exercisable as of
the Date of Termination. However, if any such option constitutes “deferred compensation” within the meaning of Section 409A (“Section 409A”) of the Internal Revenue Code of 1986, as amended (the “Code”), and
acceleration exercisability of such option would result in the imposition of interest, penalties and additional tax in respect of such option under Section 409A, than such option shall not become exercisable immediately by reason of this
Agreement, but instead shall become fully vested as of the Executive’s termination of employment and thereafter become exercisable for all of the shares covered by the option and expire in accordance with the option’s terms without regard
to this Agreement. 
 (c) Restricted Stock. To the extent permitted by the plans or programs under which the same were granted or
awarded, all restrictions on any restricted stock, including without limitation any vesting requirements on any unvested stock, held by the Executive as of the Date of Termination shall be removed. 
 (d) Continuation of Benefits. The Company shall continue for a period of one year from the Date of Termination to provide the following benefits
to the Executive on the same terms as provided to the Executive on the Date of Termination: 
 (i) Participation in the Company’s
medical, dental and vision plans; 
 (ii) Long-term disability insurance; 
 (iii) Life Insurance. 
 Notwithstanding the foregoing, any
benefits payable under this subsection 4(d) shall terminate at such time as the Executive becomes eligible for similar benefits from any subsequent employer. 
 (e) Section 280G Limitation. To the extent that any or all of the payments and benefits provided for in this Agreement constitute “parachute payments” within the meaning of Section 280G of
the Code and, but for this Section 4(e), would be subject to the excise tax imposed by Section 4999 of the Code, then the aggregate amount of such payments and benefits shall be reduced such that the present value thereof (as determined
under the Code and applicable regulations) is equal to 2.99 times the Executive’s “base amount” (as defined in the Code). 
 The determination
of any reduction or increase of any payment or benefits under this Section 4 Pursuant to the foregoing provision shall be made by a nationally recognized public accounting firm chosen by the Company in good faith, and such determination shall
be conclusive and binding on the Company and the Executive. 
 (f) Adjustments for Section 409A. Anything in this Agreement to the
contrary notwithstanding: 
 (i) No payment of cash or benefits under this Agreement which constitute “deferred compensation”
within the meaning of Section 409A shall be made or delivered except following the Employee’s “separation from service” as defined for purposes of Section 409A. 
  

 - 6 - 

 (ii) If at the time of the Employee’s separation from service within the meaning of
Section 409A, the Employee is a “specified employee” within the meaning of Section 409A(a)(2)(B)(i) and if any payment or benefit that the Employee becomes entitled to under this Agreement is considered deferred compensation
subject to interest, penalties and additional tax imposed pursuant to Section 409A(a)(2)(B)(i), then no such payment shall be payable or benefit shall be provided prior to the date that is the earlier of (i) six months and one day after
the Employee’s date of termination, and (ii) the Employee’s death, and the initial payment of provision of benefit shall included a catch-up amount covering amounts that would otherwise have been paid during the first six-month period
but for the application of this Section 4(f). For purposes of the application of Section 409A, each payment under this Agreement shall constitute a separate payment. 
 5. No Obligation to Mitigate Damages; No Effect on Other Contractual Rights; Release. 
 (a) No Obligation to Mitigate. The Executive shall not be required to mitigate damages or the amount of any payment provided for under this
Agreement by seeking other employment or otherwise, nor, except as set forth in Section 4(d), shall the amount of any payment provided for under this Agreement be reduced by any compensation earned by the Executive as the result of employment
by another employer after the Date of Termination, or otherwise. 
 (b) No Effect on Other Contractual Rights. The provisions of this
Agreement, and any payment provided for hereunder, shall not reduce any amounts otherwise payable, or in any way diminish the Executive’s existing rights, or rights which would accrue solely as a result of the passage of time, under any Benefit
Plan, Incentive Plan or Securities Plan, employment agreement or other contract, plan or arrangement. 
 (c) Release. The
Executive’s entitlement to receive the payments and other benefits specified in Section 4 shall be conditioned on his execution and delivery of a General Release in the form attached as Exhibit A to this Agreement within sixty
(60) days of the date of his termination of employment. 
 6. Successors and Assigns. 
 (a) The Company. As used in this Agreement, “Company” shall mean the Company as hereinbefore defined and any successor or assignee to its
business and/or assets as aforesaid which assumes the obligations of the Company under this Agreement or which otherwise becomes bound by all of the terms and provisions of this Agreement by operation of law. If at any time during the term of this
Agreement the Executive is employed by any corporation a majority of the voting securities of which is then owned 

  

 - 7 - 

 
by the Company, such indirect employment of the Executive by the Company shall not excuse the Company from performing its obligations under this Agreement as
if the Executive were directly employed by the Company, and the Company agrees that it shall pay or shall cause such employer to pay any amounts owed to the Executive pursuant to Section 4 hereof, notwithstanding any such indirect employment
relationship. 
 (b) The Executive. This Agreement shall inure to the benefit of and be enforceable by the Executive’s personal
and legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. If the Executive should die while any amounts are still payable to him hereunder, all such amounts, unless otherwise provided herein, shall
be paid in accordance with the terms of this Agreement to the Executive’s devisee, legatee, or other designee or, if there is no such designee, to the Executive’s estate. 
 7. Notice. For purposes of this Agreement, notices and all other communications provided for in the Agreement shall be in writing and shall be
deemed to have been duly given when delivered, one business day after being sent for overnight delivery by a nationally recognized overnight courier or three business days after being mailed by United States registered mail, return-receipt
requested, postage-prepaid, addressed as follows: 
 If to the Company: 
 Thomas A. Franza 
 Chief Executive Officer

 Comarco, Inc. 
 25541
Commercentre Drive 
 Suite 250 
 Lake Forest, CA 92630 
 If to the Executive: 
 Peggy L. Vessell Eoff 
  

							
	  
	  		  		  	
	  
	  		  		  	

 or such other address as either party may have furnished to the other in writing in accordance herewith, except
that notices of change of address shall be effective only upon receipt. 
 8. Miscellaneous. No provisions of this Agreement may be
modified, waived or discharged unless such waiver, modification or discharge is agreed to in writing signed by the Executive and the Company. No waiver by either party hereto at any time of any breach by the other party hereto of, or compliance
with, any condition or provision of this Agreement to be performed by such other party shall be deemed a waiver of similar or dissimilar provision or conditions at the same or at any prior or 

  

 - 8 - 

 
subsequent time. No agreements or representations, oral or otherwise, express or implied, with respect to the subject matter hereof have been made by either
party which are not set forth expressly in this Agreement. This Agreement shall be governed by and construed in accordance with the laws of the State of California. 
 9. Validity. The invalidity or unenforceability of any provisions of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement, which shall remain in full force and
effect. 
 10. Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an
original but all of which together will constitute one and the same instrument. 
 11. Arbitration, Legal Fees and Expenses. In the
event of any controversy, claim or dispute between the parties hereto arising out of or relating to this Agreement, the matter shall be determined by arbitration, which shall take place in Orange County, California, under the rules of the American
Arbitration Association; and a judgment upon such award may be entered in any court having jurisdiction thereof. Any decision or award of such arbitrator shall be final and binding upon the parties and shall not be appealable. The parties hereby
consent to the jurisdiction of such arbitrator and or any court having jurisdiction to enter judgment upon and enforce any action taken by such arbitrator. The Company shall pay all reasonable legal fees and expenses (including any fees or expenses
incurred in any appeals) that the Executive may incur at any time prior to the sixth anniversary of the expiration of the applicable statue to limitations under governing law for contract claims and (i) as a result of the Company’s
contesting the validity, enforceability of, or the Executive’s interpretation of, or determinations under, this Agreement, or (ii) in seeking to recover his reasonable legal fees and expenses to which he is entitled as provided herein. The
Executive’s reasonable legal fees and expenses shall be paid by the Company whether or not the Executive prevails in any such contest or disputes and shall be promptly paid by the Company as they are incurred upon submission by the Executive of
documentation thereof in reasonable detail. Any such claim for reimbursement must be made, if at all, not later than the end of the calendar year following the calendar year in which incurred and shall be reimbursed promptly, but in any event not
later than by the last day of such following calendar year. The amount of expenses eligible for reimbursement during any calendar year shall not affect the amount eligible for reimbursement during any other calendar year. 
 12. Confidentiality. The Executive shall retain in confidence any and all confidential information known to the Executive concerning the Company
and its business so long as such information is not otherwise publicly disclosed. 
 13. Entire Agreement. This Agreement contains all
of the terms agreed upon between the Executive and the Company with respect to the subject matter hereof and replaces and supercedes all prior severance agreements between the Executive and the Company. The Executive and the Company agree that no
term, provision or condition of this Agreement shall be held to be altered, amended, changed or waived in any respect except as evidenced by written agreement of the Executive and the Company. 
  

 - 9 - 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date and year first above written. 
  

							
	“COMPANY”	 		 	“EXECUTIVE”
			
	COMARCO, INC.	 		 	
				
	By:	 	 /s/ Thomas A. Franza
	 		 	 /s/ Peggy L. Vessell Eoff      

	Name:	 	Thomas A. Franza	 		 	Peggy L. Vessell Eoff
	Title:	 	President and Chief Executive Officer	 		 	

  

 - 10 -Severance Compensation Agreement, Alisha Charlton

 EXHIBIT 10.14 
 SEVERANCE COMPENSATION AGREEMENT 
 Dates as of August 28, 2007 
 COMARCO, Inc. Corporation (the “Company”) 
 and 
 Alisha Charlton (the “Employee”) 
 The Company’s Board of Directors (the “Board”) has determined that it is appropriate to reinforce and encourage the continued attention and dedication of members of the Company’s management,
including the Employee, to their assigned duties without distraction in potentially disturbing circumstances arising from the possibility of a change in control of the Company. 
 This Agreement sets forth the severance compensation which the Company agrees it will pay to the Employee if the Employee’s employment with the
Company terminates under one of the circumstances described herein following a “Change in Control” of the Company (as defined in Section 2). 
 l. Term. The term (“Term”) of this Agreement shall commence on the date hereof and, subject to earlier termination pursuant to Section 3(b), 3(c) or 3(d) hereof, shall end three (3) years
following the date on which notice of non-renewal or termination of this Agreement is given by either the Company or the Employee to the other. Thus, this Agreement shall be renewable automatically on a daily basis so that the outstanding Term is
always three (3) years following any effective notice of non-renewal or of termination given by the Company or the Employee. 
 2.
Change in Control. No compensation shall be payable under this Agreement unless and until (a) there has been a Change in Control of the Company while the Employee is still an employee of the Company and (b) the Employee’s
employment by the Company terminates in the circumstances specified in Section 3(a). For purposes of this Agreement, a “Change in Control” of the Company shall be deemed to have occurred if (i) there shall be consummated
(x) any consolidation or merger of the Company (whether or not the Company is the continuing or surviving entity) other than a consolidation or merger of the Company in which the holders of the Company’s Common Stock immediately prior to
the consolidation or merger continue to have proportionate ownership of at least 50.1% of capital stock of the surviving corporation eligible to vote in the election of directors immediately after the consolidation or merger, or (y) any sale,
lease, exchange or other transfer (in one transaction or a series of related transactions) of all, or substantially all, of the assets of the Company other than to a corporation in which the holders of the Company’s Common Stock immediately
prior to such transaction continue to have proportionate ownership of at least 50.1% of the capital stock of such corporation eligible to vote in the election of directors, or (ii) the stockholders of the Company approve any plan or proposal
for the liquidation or 

 
dissolution of the Company, or (iii) any person (as such term is used in Section l3(d) and l4(d)(2) of the Securities Exchange Act of 1934, as amended
(the “Exchange Act”)), shall become the beneficial owner (within the meaning of Rule 13d-3 under the Exchange Act) of more than 25% of the Company’s outstanding shares of Common Stock, or (iv) during any period of two consecutive
years during the term of this Agreement, individuals who at the beginning of the two year period constituted the entire Board do not for any constitute a majority thereof unless the election, or the nomination for election by the Company’s
stockholders, of each new director was approved by a vote of at least a majority of the directors then still in office who were directors at the beginning of the period or who were elected or nominated for election in the manner provided herein.

 3. Termination Following Change in Control. 
 (a) Termination. If a Change in Control of the Company shall have occurred while the Employee is still an employee of the Company, the Employee shall be entitled to the compensation provided in Section 4
upon the subsequent termination of the Employee’s employment with the Company within twenty-four (24) months of such Change in Control, whether requested by the Employee or by the Company, unless such termination is as a result of
(i) the Employee’s death; (ii) the Employee’s Disability (as defined in Section (3)(b) below); (iii) the Employee’s Retirement (as defined in Section 3(c) below); (iv) the Employee’s decision to
terminate employment other than for Good Reason (as defined in Section 3(e) below). 
 (b) Death or Disability. If, as a result
of the Employee’s incapacity due to physical or mental illness, the Employee is absent from his duties with the Company on a full-time basis for six months, the Company may elect to terminate the Employee for “Disability’ by written
notice to the Employee and without liability to the Employee pursuant to this Agreement; provided, however, that any such termination shall be effective only at the end of thirty (30) days following the delivery of such notice and only if the
Employee fails to return to the full-time performance of duties by the end of such 30-day notice period. In addition, this Agreement shall terminate immediately in the event of the death of the Employee occurring at any time during the Term hereof,
and in such event the Company shall have no liability by reason of such termination. 
 (c) Retirement. The Employee shall be deemed
terminated automatically, without liability to Employee pursuant to this Agreement, upon Retirement (as hereinafter defined) of Employee without liability to the Company pursuant to this Agreement. “Retirement” as used in this Agreement
shall be deemed to occur upon the Employee’s having reached such age as shall have been fixed in any arrangement mutually established by the Company and the Employee. 
 (d) Cause. The Company may terminate the Employee, without liability to the Employee pursuant to this Agreement, if the Employee’s employment
with the Company is terminated for Cause. For purposes solely of determining whether the Company may terminate the Employee pursuant to this Section 3(d) without liability to the Employee, the Employee shall be deemed to have been terminated
for “Cause” only if 

  

 - 2 - 

 
the Employee (1) has engaged in fraud, misappropriation or embezzlement involving the Company, (2) is convicted of or admits a felony or other
offense involving dishonesty or moral turpitude, or (3) willfully refuses to carry out a lawful written instruction of the Board that is consistent with the Employee’s position and duties, which refusal continues for a period of 30 days
after the Employee has received a written notice describing in reasonable detail the circumstances deemed by the Board to constitute such refusal. Notwithstanding the foregoing, the Employee shall not be deemed, for purposes of this Agreement, to
have been terminated for Cause unless and until there shall have been delivered to the Employee a copy of a resolution duly adopted by the affirmative vote of not less than majority of the entire membership of the Company’s Board at a meeting
of the Board called and held for that purpose (after reasonable notice to the Employee and an opportunity for the Employee, together with the Employee’s counsel, to be heard before the Board), finding that in the good faith opinion of the Board
the Employee engaged in the conduct set forth in the second sentence of this Section 3(d) and specifying the particulars thereof in reasonable detail. 
 (e) Good Reason. The Employee may terminate the Employee’s employment for Good Reason at any time after a Change in Control during the Term. For purposes of this Agreement, “Good Reason” shall
mean any of the following: 
 (i) The Company has materially changed the Employee’s position, duties, responsibilities, status, or
offices as in effect immediately prior to a Change in Control of the Company, or has removed the Employee from or failed to reelect the Employee to any of such positions; 
 (ii) A reduction by the Company in the Employee’s base salary as in effect on the date hereof or as the same may be increased from time to time
during the Term; 
 (iii) Any failure by the Company to continue in effect any benefit plan or arrangement (including, without limitation,
the Company’s life insurance, accident, disability and health insurance plans, 40l(k), stock options, and all other similar plans which are from time to time made generally available to senior Employees/officers of the Company) and in which the
Employee is participating at the time of a Change in Control of the Company, unless there are substituted therefore plans or arrangements providing the Employee with essentially equivalent benefits (hereinafter referred to as “Benefit
Plans”), or the taking of any action by the Company which would adversely affect the Employee’s participation in or materially reduce the Employee’s benefits under any such Benefit Plan or deprive the Employee of any material fringe
benefit enjoyed by the Employee at the time of a Change in Control of the Company; 
 (iv) Any failure by the Company to continue in effect
any incentive plan or arrangement (including, without limitation, the Company’s plans enumerated in subparagraph (iii) above and similar incentive compensation benefits) in which the Employee is participating at the time of a Change in
Control of the Company, unless there are substituted therefore plans or arrangements providing the Employee with 

  

 - 3 - 

 
essentially equivalent benefits (hereinafter referred to as “Incentive Plans”), or taking of any action by the Company which would adversely affect
the Employee’s participation in any such Incentive Plan or reduce the Employee’s potential benefits under any such Incentive Plan, expressed as a percentage of his base salary, by more than 10 percentage points in any fiscal year as
compared to the immediately preceding fiscal year; 
 (v) Any failure by the Company to continue in effect any plan or arrangement to
receive securities of the Company (including, without limitation, the Company’s stock option and purchase plans and any other plan or arrangement to receive the exercise stock options, stock appreciation rights, restricted stock or grants
thereof) in which the Employee is participating at the time of a Change in Control of the Company, unless there are substituted therefore plans or arrangements providing the Employee with essentially equivalent benefits (hereinafter referred to as
“Securities Plans”), or the taking of any action by the Company which would adversely affect the Employee’s participation in or materially reduce the Employee’s benefits under any such Securities Plan; 
 (vi) The Employee’s relocation to a principal office more than 25 miles from the location at which the Employee performed the Employee’s
duties prior to a Change in Control of the Company, except for required travel by the Employee on the Company’s business to an extent substantially consistent with the Employee’s business travel obligations during the 12 months immediately
preceding a Change of Control of the Company. 
 (vii) Any failure by the Company to provide the Employee with the number of paid vacation
days to which the Employee is entitled at the time of a Change of Control of the Company; 
 (viii) Any material breach by the Company of
any provision of this Agreement; 
 (ix) Any failure by the Company to obtain the assumption of this Agreement by any successor or assignee
of the Company; or 
 (x) Any purported termination of the Employee’s employment that is not effected pursuant to a Notice of
Termination satisfying the requirements of Section 3(f), and for purposes of this Agreement, no such purported termination shall be effective. 
 (f) Notice of Termination. Any termination of the Employee by the Company for Disability pursuant to Section 3(b) or for Cause pursuant to Section 3(d) shall be communicated by a Notice of Termination. For purposes of this
Agreement, a “Notice of Termination” shall mean a written notice which shall indicate those specific termination provisions in this Agreement relied upon and which set forth in reasonable detail the facts and circumstances claimed to
provide a basis for termination of the Employee’s employment under the provisions so indicated. For purposes of this Agreement, no such purported termination by the Company shall be effective without such Notice of Termination. 
  

 - 4 - 

 (g) Date of Termination. “Date of Termination” shall mean (i) if the Employee is
terminated by the Company for Disability, 30 days after Notice of Termination is given to the Employee (provided that the Employee shall not have returned to the performance of the Employee’s duties on a full-time basis during such 30-day
period) or (ii) if the Employee is terminated by the Company for any other reason, the date on which a Notice of Termination is given. 
 4. Severance Compensation upon Termination of Employment. Subject to Section 4(e) below, if within twenty-four (24) months following a Change in Control, the Company shall terminate the Employee’s employment other than
pursuant to Section 3(b), 3(c) or 3(d), or if the Employee terminates his employment for Good Reason pursuant to Section 3(e), then: 
 (a) Severance Payment. 
 (i) The Company shall pay to the Employee as severance pay a lump sum (the “Severance
Payment”), in cash, in full as soon as practicable but in no event later than the fifth day following the Date of Termination of an amount equal to the Employee’s highest annual base salary in effect during the 12-month period immediately
preceding the Date of Termination, multiplied by 1.00. 
 (ii) In the event that the Company asserts that the Employee has been terminated
for “Cause” as provided in Section 3(d), the Employee may within 30 days after a Notice of Termination is given to the Employee by the Company notify the Company in writing disputes the basis for the termination. After such notice has
been timely given by the Employee, if either (x) the Employee prevails in his assertion or (y) the Company changes its position and voluntarily pays the Severance Payment to the Employee, then in either case as liquidated damages and not
any penalty the Company shall also pay to the Employee together with the Severance Payment an additional amount equal to the Employee’s highest annual base salary in effect during the 12-month period immediately preceding the Date of
Termination, pro rated on a daily basis for the period (not to exceed 12 months) from the Date of Termination until the Company actually pays the Severance Payment to the Employee. 
 (iii) The foregoing payments shall be in addition to any payments or other compensation that would otherwise be payable to the Employee under any other
then existing Severance Plan of the Company. All payments hereunder shall be made net of withholdings required by applicable federal, state or local laws. 
 (b) Stock Options. To the extent permitted by the plans or programs under which the same were granted or awarded, all stock options not currently exercisable held by the Employee will accelerate and become
exercisable as of the Date of Termination. However, if any such option constitutes “deferred compensation” within the meaning of Section 409A (“Section 409A”) of the Internal Revenue Code of 1986, as 

  

 - 5 - 

 
amended (the “Code”), and acceleration exercisability of such option would result in the imposition of interest, penalties and additional tax in
respect of such option under Section 409A, than such option shall not become exercisable immediately by reason of this Agreement, but instead shall become fully vested as of the Employee’s termination of employment and thereafter become
exercisable for all of the shares covered by the option and expire in accordance with the option’s terms without regard to this Agreement. 
 (c) Restricted Stock. To the extent permitted by the plans or programs under which the same were granted or awarded, all restrictions on any restricted stock, including without limitation any vesting requirements on any unvested
stock, held by the Employee as of the Date of Termination shall be removed. 
 (d) Continuation of Benefits. The Company shall
continue for a period of one year from the Date of Termination to provide the following benefits to the Employee on the same terms as provided to the Employee on the Date of Termination: 
 (i) Participation in the Company’s medical, dental and vision plans; 
 (ii) Long-term disability insurance; 
 (iii) Life Insurance. 
 Notwithstanding the foregoing, any benefits payable under this subsection 4(d) shall terminate at such time as the Employee becomes eligible for similar benefits from
any subsequent employer. 
 (e) Section 280G Limitation. To the extent that any or all of the payments and benefits provided for
in this Agreement constitute “parachute payments” within the meaning of Section 280G of the Code and, but for this Section 4(e), would be subject to the excise tax imposed by Section 4999 of the Code, then the aggregate
amount of such payments and benefits shall be reduced such that the present value thereof (as determined under the Code and applicable regulations) is equal to 2.99 times the Employee’s “base amount” (as defined in the Code).

 The determination of any reduction or increase of any payment or benefits under this Section 4 Pursuant to the foregoing provision shall be made by a
nationally recognized public accounting firm chosen by the Company in good faith, and such determination shall be conclusive and binding on the Company and the Employee. 
 (f) Adjustments for Section 409A. Anything in this Agreement to the contrary notwithstanding: 
 (i) No
payment of cash or benefits under this Agreement which constitute “deferred compensation” within the meaning of Section 409A shall be made or delivered except following the Employee’s “separation from service” as
defined for purposes of Section 409A. 
  

 - 6 - 

 (ii) If at the time of the Employee’s separation from service within the meaning of
Section 409A, the Employee is a “specified employee” within the meaning of Section 409A(a)(2)(B)(i) and if any payment or benefit that the Employee becomes entitled to under this Agreement is considered deferred compensation
subject to interest, penalties and additional tax imposed pursuant to Section 409A(a)(2)(B)(i), then no such payment shall be payable or benefit shall be provided prior to the date that is the earlier of (i) six months and one day after
the Employee’s date of termination, and (ii) the Employee’s death, and the initial payment of provision of benefit shall included a catch-up amount covering amounts that would otherwise have been paid during the first six-month period
but for the application of this Section 4(f). For purposes of the application of Section 409A, each payment under this Agreement shall constitute a separate payment. 
 5. No Obligation to Mitigate Damages; No Effect on Other Contractual Rights; Release. 
 (a) No Obligation to Mitigate. The Employee shall not be required to mitigate damages or the amount of any payment provided for under this
Agreement by seeking other employment or otherwise, nor, except as set forth in Section 4(d), shall the amount of any payment provided for under this Agreement be reduced by any compensation earned by the Employee as the result of employment by
another employer after the Date of Termination, or otherwise. 
 (b) No Effect on Other Contractual Rights. The provisions of this
Agreement, and any payment provided for hereunder, shall not reduce any amounts otherwise payable, or in any way diminish the Employee’s existing rights, or rights which would accrue solely as a result of the passage of time, under any Benefit
Plan, Incentive Plan or Securities Plan, employment agreement or other contract, plan or arrangement. 
 (c) Release. The
Employee’s entitlement to receive the payments and other benefits specified in Section 4 shall be conditioned on his execution and delivery of a General Release in the form attached as Exhibit A to this Agreement within sixty
(60) days of the date of his termination of employment. 
 6. Successors and Assigns. 
 (a) The Company. As used in this Agreement, “Company” shall mean the Company as hereinbefore defined and any successor or assignee to its
business and/or assets as aforesaid which assumes the obligations of the Company under this Agreement or which otherwise becomes bound by all of the terms and provisions of this Agreement by operation of law. If at any time during the term of this
Agreement the Employee is employed by any corporation a majority of the voting securities of which is then owned by the Company, such indirect employment of the Employee by the Company shall not excuse the Company from performing its obligations
under this Agreement as if the Employee were directly employed by the Company, and the Company agrees that it shall pay or shall cause such employer to pay any amounts owed to the Employee pursuant to Section 4 hereof, notwithstanding any such
indirect employment relationship. 
  

 - 7 - 

 (b) The Employee. This Agreement shall inure to the benefit of and be enforceable by the
Employee’s personal and legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. If the Employee should die while any amounts are still payable to him hereunder, all such amounts, unless
otherwise provided herein, shall be paid in accordance with the terms of this Agreement to the Employee’s devisee, legatee, or other designee or, if there is no such designee, to the Employee’s estate. 
 7. Notice. For purposes of this Agreement, notices and all other communications provided for in the Agreement shall be in writing and shall be
deemed to have been duly given when delivered, one business day after being sent for overnight delivery by a nationally recognized overnight courier or three business days after being mailed by United States registered mail, return-receipt
requested, postage-prepaid, addressed as follows: 
  

			
	If to the Company:	  	
		
	 Thomas A. Franza
 Chief Employee
Officer
 Comarco, Inc.
 25541 Commercentre Drive
 Suite 250
 Lake
Forest, CA 92630
	  	
		
	If to the Employee:	  	
		
	Alisha Charlton	  	
		
	 	  	
		
	 	  	

 or such other address as either party may have furnished to the other in writing in accordance herewith, except
that notices of change of address shall be effective only upon receipt. 
 8. Miscellaneous. No provisions of this Agreement may be
modified, waived or discharged unless such waiver, modification or discharge is agreed to in writing signed by the Employee and the Company. No waiver by either party hereto at any time of any breach by the other party hereto of, or compliance with,
any condition or provision of this Agreement to be performed by such other party shall be deemed a waiver of similar or dissimilar provision or conditions at the same or at any prior or subsequent time. No agreements or representations, oral or
otherwise, express or implied, with respect to the subject matter hereof have been made by either party which are not set forth expressly in this Agreement. This Agreement shall be governed by and construed in accordance with the laws of the State
of California. 
  

 - 8 - 

 9. Validity. The invalidity or unenforceability of any provisions of this Agreement shall not
affect the validity or enforceability of any other provision of this Agreement, which shall remain in full force and effect. 
 10.
Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original but all of which together will constitute one and the same instrument. 
 11. Arbitration, Legal Fees and Expenses. In the event of any controversy, claim or dispute between the parties hereto arising out of or relating
to this Agreement, the matter shall be determined by arbitration, which shall take place in Orange County, California, under the rules of the American Arbitration Association; and a judgment upon such award may be entered in any court having
jurisdiction thereof. Any decision or award of such arbitrator shall be final and binding upon the parties and shall not be appealable. The parties hereby consent to the jurisdiction of such arbitrator and or any court having jurisdiction to enter
judgment upon and enforce any action taken by such arbitrator. The Company shall pay all reasonable legal fees and expenses (including any fees or expenses incurred in any appeals) that the Employee may incur at any time prior to the sixth
anniversary of the expiration of the applicable statue to limitations under governing law for contract claims and (i) as a result of the Company’s contesting the validity, enforceability of, or the Employee’s interpretation of, or
determinations under, this Agreement, or (ii) in seeking to recover his reasonable legal fees and expenses to which he is entitled as provided herein. The Employee’s reasonable legal fees and expenses shall be paid by the Company whether
or not the Employee prevails in any such contest or disputes and shall be promptly paid by the Company as they are incurred upon submission by the Employee of documentation thereof in reasonable detail. Any such claim for reimbursement must be made,
if at all, not later than the end of the calendar year following the calendar year in which incurred and shall be reimbursed promptly, but in any event not later than by the last day of such following calendar year. The amount of expenses eligible
for reimbursement during any calendar year shall not affect the amount eligible for reimbursement during any other calendar year. 
 12.
Confidentiality. The Employee shall retain in confidence any and all confidential information known to the Employee concerning the Company and its business so long as such information is not otherwise publicly disclosed. 
 13. Entire Agreement. This Agreement contains all of the terms agreed upon between the Employee and the Company with respect to the subject matter
hereof and replaces and supercedes all prior severance agreements between the Employee and the Company. The Employee and the Company agree that no term, provision or condition of this Agreement shall be held to be altered, amended, changed or waived
in any respect except as evidenced by written agreement of the Employee and the Company. 
  

 - 9 - 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date and year first above written. 
  

							
	“COMPANY”	 		 	“EMPLOYEE”
			
	COMARCO, INC.	 		 	
				
	By:	 	 /s/ Thomas A. Franza
	 		 	 /s/ Alisha Charlton      

	Name:	 	Thomas A. Franza	 		 	Alisha Charlton
	Title:	 	President and Chief Executive Officer	 		 	

  

 - 10 -

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00141-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00141-of-00352.parquet"}]]