Document:

Offer Letter Agreement

 EXHIBIT 10.32 
 [ZELTIQ Logo] 
 November 18, 2011 

Dennis Jarvis 
  

	Re:	OFFER OF EMPLOYMENT 

 Dear Dennis: 
 ZELTIQ AESTHETICS, INC. (the
“Company”) is pleased to offer you the position of Chief Marketing Officer (CMO), reporting to me. You will perform duties customarily associated with your position and such other duties as may be assigned by the President and CEO or
designate. You will be based at the Company’s offices in Pleasanton, CA. By signing this letter agreement, you represent and warrant to the Company that you are under no contractual commitments inconsistent with your obligations to the Company.

 1. COMPENSATION. 

(a) Base Salary. You will be paid a salary at the annual rate of $230,000 payable in semimonthly
installments or otherwise in accordance with the Company’s standard payroll practices for salaried employees. This salary may be subject to adjustment pursuant to the Company’s employee compensation policies in effect from time to time.
Presently, we are on a December performance review cycle, so your first review will occur in December 2011. 
 (b) Stock Options. Company’s management will recommend to the Company’s Board of Directors that you be granted an option (the “Stock Option”) to purchase 500,000 shares
of the Company’s Common Stock. The exercise price per share will be equal to the fair market value per share on the date the option is granted or on your first day of employment, whichever is later. The Stock Option shall vest over four
(4) years with one-fourth (1/4) of the options vesting at the end of twelve (12) months, and the remainder vesting monthly at a rate of 1/48th of the total number per month thereafter until all shares are vested. The Stock Option shall be an incentive stock
option to the extent permitted by applicable law. The Stock Option will be subject to the terms and conditions applicable to options granted under the Company’s 2005 Equity Incentive Plan and as described in that plan and the applicable stock
option agreement. 
 (c) Company Bonus. You are eligible to earn an annual bonus of $57,500, 25% of
your base salary, pro-rated upon date of hire and based upon the company 2011 Management Bonus Plan. 
 2.
BENEFITS. You shall be entitled to the Company’s basic employment benefits available to all Company employees, as the same currently exist or may exist in the future. You acknowledge that participation in Company benefit
programs may require payroll deductions and/or direct contributions by you. 
 3. EMPLOYMENT
TERMS. Your employment relationship with the Company will be governed by the general employment policies and practices of the Company. You will be required as a condition to your employment with the Company, to
(i) acknowledge your receipt and understanding, sign and abide by the Company’s standard Confidential Information and Invention Assignment Agreement, attached hereto as Exhibit A; (ii) sign and return a satisfactory I-9
Immigration form 

 
providing sufficient documentation establishing your employment eligibility in the United States, and (iii) provide satisfactory proof of your identity as required by United States law. Your
duties under the Confidential Information and Invention Assignment Agreement shall survive termination of your employment with the Company. By signing this letter, you acknowledge that a remedy at law for any breach or threatened breach by you of
the provisions of the Confidential Information and Invention Assignment Agreement would be inadequate, and you therefore agree that the Company shall be entitled to injunctive relief in case of any such breach or threatened breach. 

4. AT-WILL EMPLOYMENT. Your employment with the Company will be “at-will,”
meaning that either you or the Company will be entitled to terminate your employment at any time and for any or no reason, with or without cause. Although your job duties, title, compensation and benefits, as well as the Company’s personnel
policies and procedures, may change from time to time, the “at will” nature of your employment may only be changed in an express written agreement signed by you and a duly authorized officer of the Company. Your participation in any stock
purchase or benefit program is not to be regarded as assuring you continuing employment for any particular period of time. 
 5.
OUTSIDE ACTIVITIES. While you render services to the Company, you will not engage in any other gainful employment, business or activity without the written consent of the Company. While you render services to the
Company, you also will not assist any person or organization in competing with the Company, in preparing to compete with the Company or in hiring any employees of the Company. During the term of your employment by the Company, except on behalf of
the Company, you shall not directly or indirectly, whether as an officer, director, stockholder, partner, proprietor, associate, representative, consultant, or in any capacity whatsoever engage in, become financially interested in, be employed by or
have any business connection with any other person, corporation, firm, partnership or other entity whatsoever which were known by you to compete directly with the Company, throughout the world, in any line of business engaged in (or planned to be
engaged in) by the Company; provided, however, that anything above to the contrary notwithstanding, you may own, as a passive investor, securities of any competitor corporation, so long as your direct holdings in any one such corporation shall not
in the aggregate constitute more than 1% of the voting stock of such corporation. 
 6. START
DATE. Your start date shall be on January 1, 2011. This offer, if not accepted, will expire at the close of business on November 23, 2010. 
 7. SIGN-ON BONUS. You will receive a $15,000 sign-on bonus upon your completion of 6 months’ tenure at ZELTIQ, assuming you are a full time
employee in good standing. 
 8. RELOCATION/TEMPORARY
RESIDENCE/CORPORATE RESIDENCE. It is agreed that you will work in Pleasanton Monday through Friday. The Company will work with you to arrange a Living Arrangement and Travel Expectation pursuant to
the open questions as to your residence, commuting travel requirements, etc. within 60 days of your start date. In the meantime, we will provide an allowance of $2000 per month for temporary housing. 

9. ENTIRE AGREEMENT. This offer letter sets forth the full and complete agreement between you and
the Company regarding your employment with the Company. Any additional or contrary terms, representations, offers or agreements, whether written or oral, that may have been made to you are hereby revoked and superseded in their entirety by this
offer. 
 We hope that you find the foregoing terms acceptable. You may indicate your agreement with these terms and accept this
offer by signing and dating both the enclosed duplicate original of this letter and the enclosed Employee Proprietary Information and Inventions Agreement and returning them to me. 

  
 2 

 If you have any questions, please call me at (925) 474-2569 - work; (310) 601-6998
- mobile; (925) 474-2502 - via Ragan. DJ, this will be a great experience, and I relish the chance to work with you! 
  

	
	Sincerely,
	
	/s/ Gordie Nye
	Gordie Nye, Chief Executive Officer

  

	
	AGREED AND ACCEPTED
	I have read and accept this employment offer:
	
	/s/ Dennis Jarvis
	Dennis Jarvis
	
	 Dated: Nov 22, 2010

  
 3 

 Exhibit A 

CONFIDENTIAL INFORMATION AND 
 INVENTION ASSIGNMENT AGREEMENT 
 As a condition of my becoming employed (or
my employment being continued) or retained as a consultant (or my consulting relationship being continued) by Zeltiq Aesthetics, Inc., a Delaware corporation, with any of its current or future subsidiaries, affiliates, successors or assigns
(collectively, the “Company”), and in consideration of my employment or consulting relationship with the Company and my receipt of the compensation now and hereafter paid to me by the Company, I agree to the following: 

1. Employment or Consulting Relationship. I understand and acknowledge that this Agreement does not alter, amend or expand
upon any rights I may have to continue in the employ of, or in a consulting relationship with, or the duration of my employment or consulting relationship with, the Company under any existing agreements between the Company and me or under applicable
law. Any employment or consulting relationship between the Company and me, whether commenced prior to or upon the date of this Agreement, shall be referred to herein as the “Relationship.” 

2. At-Will Employment. I understand and acknowledge that my Relationship with the Company is and shall continue to be
at-will, as defined under applicable law, meaning that either I or the Company may terminate the Relationship at any time for any reason or no reason, without further obligation or liability. 

3. Confidential Information. 
 (a) Company Information. I agree at all times during the term of my Relationship with the Company and thereafter, to hold in strictest confidence, and not to use, except for the benefit of
the Company, or to disclose to any person, firm, corporation or other entity without written authorization of the Board of Directors of the Company, any Confidential Information of the Company which I obtain or create. I further agree not to make
copies of such Confidential Information except as authorized by the Company. I understand that “Confidential Information” means any Company proprietary information, technical data, trade secrets or know-how, including, but not
limited to, research, product plans, products, services, suppliers, customer lists and customers (including, but not limited to, customers of the Company on whom I called or with whom I became acquainted during the Relationship), prices and costs,
markets, software, developments, inventions, laboratory notebooks, processes, formulas, technology, designs, drawings, engineering, hardware configuration information, marketing, licenses, finances, budgets or other business information disclosed to
me by the Company either directly or indirectly in writing, orally or by drawings or observation of parts or equipment or created by me during the period of the Relationship, whether or not during working hours, and any information pertaining to any
aspects of the Company’s business which is either information not known by actual or potential competitors of the Company or is proprietary information of the Company or its customers or suppliers, whether of a technical nature or otherwise. I
further understand that Confidential Information does not include any of the foregoing items which has become publicly and widely known and made generally available through no wrongful act of mine or of others who were under confidentiality
obligations as to the item or items involved. 

  
 4 

 (b) Former Employer Information. I represent that my
performance of all terms of this Agreement as an employee or consultant of the Company have not breached and will not breach any agreement to keep in confidence proprietary information, knowledge or data acquired by me in confidence or trust prior
or subsequent to the commencement of my Relationship with the Company, and I will not disclose to the Company, or induce the Company to use, any inventions, confidential or proprietary information or material belonging to any previous employer or
any other party. 
 (c) Third Party Information. I recognize that the Company has received and in
the future will receive from third parties their confidential or proprietary information subject to a duty on the Company’s part to maintain the confidentiality of such information and to use it only for certain limited purposes. I agree to
hold all such confidential or proprietary information in the strictest confidence and not to disclose it to any person, firm or corporation or to use it except as necessary in carrying out my work for the Company consistent with the Company’s
agreement with such third party. 
 4. Inventions. 

(a) Inventions Retained and Licensed. I have attached hereto, as Exhibit A, a list describing
with particularity all inventions, original works of authorship, developments, improvements, and trade secrets which were made by me prior to the commencement of the Relationship (collectively referred to as “Prior Inventions”),
which belong solely to me or belong to me jointly with another, which relate in any way to any of the Company’s proposed businesses, products or research and development, and which are not assigned to the Company hereunder; or, if no such list
is attached, I represent that there are no such Prior Inventions. If, in the course of my Relationship with the Company, I incorporate into a Company product, process or machine a Prior Invention owned by me or in which I have an interest, the
Company is hereby granted and shall have a non-exclusive, royalty-free, irrevocable, perpetual, worldwide license (with the right to sublicense) to make, have made, copy, modify, make derivative works of, use, sell and otherwise distribute such
Prior Invention as part of or in connection with such product, process or machine. 
 (b) Assignment of
Inventions. I agree that I will promptly make full written disclosure to the Company, will hold in trust for the sole right and benefit of the Company, and hereby assign to the Company, or its designee, all my right, title and interest
throughout the world in and to any and all inventions, original works of authorship, developments, concepts, know-how, improvements or trade secrets, whether or not patentable or registrable under copyright or similar laws, which I may solely or
jointly conceive or develop or reduce to practice, or cause to be conceived or developed or reduced to practice, during the period of time in which I am employed by or a consultant of the Company (collectively referred to as
“Inventions”), except as provided in Section 4(e) below. I further acknowledge that all inventions, original works of authorship, developments, concepts, know-how, improvements or trade secrets which are made by me (solely or
jointly with others) within the scope of and during the period of my Relationship with the Company are “works made for hire” (to the greatest 

 
extent permitted by applicable law) and are compensated by my salary (if I am an employee) or by such amounts paid to me under any applicable consulting agreement or consulting arrangements (if I
am a consultant), unless regulated otherwise by the mandatory law of the state of California. 
 (c)
Maintenance of Records. I agree to keep and maintain adequate and current written records of all Inventions made by me (solely or jointly with others) during the term of my Relationship with the Company. The records may be in the form
of notes, sketches, drawings, flow charts, electronic data or recordings, laboratory notebooks, and any other format. The records will be available to and remain the sole property of the Company at all times. I agree not to remove such records from
the Company’s place of business except as expressly permitted by Company policy which may, from time to time, be revised at the sole election of the Company for the purpose of furthering the Company’s business. 

(d) Patent and Copyright Rights. I agree to assist the Company, or its designee, at the Company’s
expense, in every proper way to secure the Company’s rights in the Inventions and any copyrights, patents, trademarks, mask work rights, moral rights, or other intellectual property rights relating thereto in any and all countries, including
the disclosure to the Company of all pertinent information and data with respect thereto, the execution of all applications, specifications, oaths, assignments, recordations, and all other instruments which the Company shall deem necessary in order
to apply for, obtain, maintain and transfer such rights and in order to assign and convey to the Company, its successors, assigns and nominees the sole and exclusive rights, title and interest in and to such Inventions, and any copyrights, patents,
mask work rights or other intellectual property rights relating thereto. I further agree that my obligation to execute or cause to be executed, when it is in my power to do so, any such instrument or papers shall continue after the termination of
this Agreement until the expiration of the last such intellectual property right to expire in any country of the world. If the Company is unable because of my mental or physical incapacity or unavailability or for any other reason to secure my
signature to apply for or to pursue any application for any United States or foreign patents or copyright registrations covering Inventions or original works of authorship assigned to the Company as above, then I hereby irrevocably designate and
appoint the Company and its duly authorized officers and agents as my agent and attorney in fact, to act for and in my behalf and stead to execute and file any such applications and to do all other lawfully permitted acts to further the application
for, prosecution, issuance, maintenance or transfer of letters patent or copyright registrations thereon with the same legal force and effect as if originally executed by me. I hereby waive and irrevocably quitclaim to the Company any and all
claims, of any nature whatsoever, which I now or hereafter have for infringement of any and all proprietary rights assigned to the Company. 
 (e) Exception to Assignments. I understand that the provisions of this Agreement requiring assignment of Inventions to the Company do not apply to any invention which qualifies fully under
the provisions of California Labor Code Section 2870 (attached hereto as Exhibit B). I will advise the Company promptly in writing of any inventions that I believe meet such provisions and are not otherwise disclosed on
Exhibit A. 

 5. Returning Company Documents. I agree that, at the time of termination of my
Relationship with the Company, I will deliver to the Company (and will not keep in my possession, recreate or deliver to anyone else) any and all devices, records, data, notes, reports, proposals, lists, correspondence, specifications, drawings,
blueprints, sketches, laboratory notebooks, materials, flow charts, equipment, other documents or property, or reproductions of any aforementioned items developed by me pursuant to the Relationship or otherwise belonging to the Company, its
successors or assigns. I further agree that to any property situated on the Company’s premises and owned by the Company, including disks and other storage media, filing cabinets or other work areas, is subject to inspection by Company personnel
at any time with or without notice. In the event of the termination of the Relationship, I agree to sign and deliver the “Termination Certification” attached hereto as Exhibit C. 

6. Notification to Other Parties. 
 (a) Employees. In the event that I leave the employ of the Company, I hereby consent to notification by the Company to my new employer about my rights and obligations under this Agreement.

 (b) Consultants. I hereby grant consent to notification by the Company to any other parties
besides the Company with whom I maintain a consulting relationship, including parties with whom such relationship commences after the effective date of this Agreement, about my rights and obligations under this Agreement. 

7. Solicitation of Employees, Consultants and Other Parties. I agree that during the term of my Relationship with the
Company, and for a period of twelve (12) months immediately following the termination of my Relationship with the Company for any reason, whether with or without cause, I shall not either directly or indirectly solicit, induce, recruit or
encourage any of the Company’s employees or consultants to terminate their relationship with the Company, or take away such employees or consultants, or attempt to solicit, induce, recruit, encourage or take away employees or consultants of the
Company, either for myself or for any other person or entity. Further, for a period of twelve (12) months following termination of my Relationship with the Company for any reason, with or without cause, I shall not solicit any licensor to or
customer of the Company or licensee of the Company’s products, in each case, that are known to me, with respect to any business, products or services that are competitive to the products or services offered by the Company or under development
as of the date of termination of my Relationship with the Company. 
 8. Representations and Covenants.

 (a) Facilitation of Agreement. I agree to execute promptly any proper oath or verify any proper
document required to carry out the terms of this Agreement upon the Company’s written request to do so. 

(b) Conflicts. I represent that my performance of all the terms of this Agreement will not breach any
agreement to keep in confidence proprietary information acquired by me in confidence or in trust prior to commencement of my Relationship with the Company. I have not entered into, and I agree I will not enter into, any oral or written agreement in
conflict with any of the provisions of this Agreement. 

 (c) Voluntary Execution. I certify and acknowledge that I have
carefully read all of the provisions of this Agreement and that I understand and will fully and faithfully comply with such provisions. 
 9. General Provisions. 
 (a) Governing Law.
The validity, interpretation, construction and performance of this Agreement shall be governed by the laws of the State of California, without giving effect to the principles of conflict of laws. 

(b) Entire Agreement. This Agreement sets forth the entire agreement and understanding between the Company
and me relating to the subject matter herein and merges all prior discussions between us. No modification or amendment to this Agreement, nor any waiver of any rights under this Agreement, will be effective unless in writing signed by the party to
be charged. Any subsequent change or changes in my duties, obligations, rights or compensation will not affect the validity or scope of this Agreement. 
 (c) Severability. If one or more of the provisions in this Agreement are deemed void by law, then the remaining provisions will continue in full force and effect. 

(d) Successors and Assigns. This Agreement will be binding upon my heirs, executors, administrators and
other legal representatives and will be for the benefit of the Company, its successors, and its assigns. 
 (e)
Survival. The provisions of this Agreement shall survive the termination of the Relationship and the assignment of this Agreement by the Company to any successor in interest or other assignee. 

(f) ADVICE OF COUNSEL. I ACKNOWLEDGE THAT, IN EXECUTING THIS AGREEMENT, I HAVE HAD THE OPPORTUNITY TO SEEK
THE ADVICE OF INDEPENDENT LEGAL COUNSEL, AND I HAVE READ AND UNDERSTOOD ALL OF THE TERMS AND PROVISIONS OF THIS AGREEMENT. THIS AGREEMENT SHALL NOT BE CONSTRUED AGAINST ANY PARTY BY REASON OF THE DRAFTING OR PREPARATION HEREOF. 

[Signature Page Follows] 

 The parties have executed this Agreement on the respective dates set forth below:

  

					
	COMPANY:	 		 	EMPLOYEE:
			
	ZELTIQ AESTHETICS, INC.	 		 	DENNIS JARVIS, an Individual:
			
	  	 		 	/s/ Dennis Jarvis
	Signature	 		 	Signature

									
				
	By:	 	 	 		 	Dennis Jarvis
		 		 		 	Printed Name
					
	Title:	 	 	 		 		 	
					
	Date:	 	 	 		 	Date:	 	11/22/10
					
	Address:	 	4698 Willow Road
Pleasanton, CA 94588	 		 	Address:	 	4165 Executive Dr F301
La Jolla, CA 92037

 [INSERT IMAGE] 

EXHIBIT A 
 LIST OF PRIOR INVENTIONS 
 AND ORIGINAL WORKS OF AUTHORSHIP

 EXCLUDED FROM SECTION 4 
  

					
	 Title
	  	Date	  	Identifying Number
or Brief Description

 

	þ	No inventions or improvements 

  

	 ̈	Additional Sheets Attached 

 Signature of
Employee/Consultant: /s/ Dennis Jarvis             
 Print Name of
Employee/Consultant: Dennis Jarvis 
 Date: 11/22/10 

 [ZELTIQ Logo] 
 EXHIBIT B 
 Section 2870 of the California Labor Code is as follows:

 (a) Any provision in an employment agreement which provides that an employee shall assign, or offer to assign, any of his or
her rights in an invention to his or her employer shall not apply to an invention that the employee developed entirely on his or her own time without using the employer’s equipment, supplies, facilities, or trade secret information except for
those inventions that either: 
 (1) Relate at the time of conception or reduction to practice of the invention
to the employer’s business, or actual or demonstrably anticipated research or development of the employer; or 
 (2) Result from any work performed by the employee for the employer. 
 (b) To the
extent a provision in an employment agreement purports to require an employee to assign an invention otherwise excluded from being required to be assigned under subdivision (a), the provision is against the public policy of this state and is
unenforceable. 

 EXHIBIT C 

TERMINATION CERTIFICATION 
 This is to certify that I do not have in my possession, nor have I failed to return, any devices, records, data, notes, reports, proposals, lists, correspondence, specifications, drawings, blueprints,
sketches, laboratory notebooks, flow charts, materials, equipment, other documents or property, or copies or reproductions of any aforementioned items belonging to Zeltiq Aesthetics, Inc., its subsidiaries, affiliates, successors or assigns
(together the “Company”). 
 I further certify that I have complied with all the terms of the Company’s
Confidential Information and Invention Assignment Agreement signed by me, including the reporting of any inventions and original works of authorship (as defined therein), conceived or made by me (solely or jointly with others) covered by that
agreement. 
 I further agree that, in compliance with the Confidential Information and Invention Assignment Agreement, I will
preserve as confidential all trade secrets, confidential knowledge, data or other proprietary information relating to products, processes, know-how, designs, formulas, developmental or experimental work, computer programs, data bases, other original
works of authorship, customer lists, business plans, financial information or other subject matter pertaining to any business of the Company or any of its employees, clients, consultants or licensees. 

I further agree that for twelve (12) months from the date of this Certificate, I shall not either directly or indirectly solicit,
induce, recruit or encourage any of the Company’s employees or consultants to terminate their relationship with the Company, or take away such employees or consultants, or attempt to solicit, induce, recruit, encourage or take away employees or
consultants of the Company, either for myself or for any other person or entity. Further, for a period of twelve (12) months from the date of this Certificate, I shall not solicit any licensor to or customer of the Company or licensee of the
Company’s products, in each case, that are known to me, with respect to any business, products or services that are competitive to the products or services offered by the Company or under development as of the date of termination of my
Relationship with the Company. 

					
			
	Date: 11/22/10	 		 	/s/ Dennis Jarvis
		 		 	(Employee’s Signature)
			
	 	 		 	Dennis Jarvis
		 		 	(Type/Print Employee’s Name)Separation Agreement

 EXHIBIT 10.33 
 [ZELTIQ logo] 
 November 29, 2010 

Elizabeth Newman 
  

	 	Re:	Separation from Zeltiq Aesthetics, Inc. 

 Dear
Elizabeth: 
 This letter confirms your termination from Zeltiq Aesthetics, Inc. (the “Company”) effective
December 1, 2010 (“Separation Date”), and explains the details of your separation from employment as well as the severance benefits the Company is offering to you. 

You acknowledge that you have been given your final paycheck and paid all outstanding salary amounts and any accrued, but unused,
vacation time. You also will be eligible to convert your medical insurance coverage under COBRA, and will be provided with information describing this conversion election. Further, the Company will not challenge any claim by you for unemployment
benefits. 
 Although it is under no legal obligation to do so, the Company will provide to you the following severance benefits
in exchange for your agreement to waive all claims against the Company, whether you have any claims or not: 
 (i)
Severance. The Company will pay you severance in the amount of $75,000.00, less applicable withholdings, which is equivalent to four (4) months of your current base salary and payable in one lump sum (“Severance”). The
Severance will be paid within ten (10) business days after expiration of the 7-day revocation period discussed below. 

(ii) On Call Payment. The Company will pay you an additional severance payment in the amount of $9,375.00, less applicable
withholdings, which is equivalent to two (2) weeks of your current base salary, provided that you agree to remain “On Call” from the Separation Date through December 15, 2010 (“On Call Payment”). On Call
means that you will be reasonably available to the Company, via phone or electronic means, and engage in good faith efforts to help transition and respond to requests for information regarding ongoing projects and business-related matters. The On
Call Payment will be paid in one lump sum within ten (10) business days after expiration of the 7-day revocation period discussed below. 
 (iii) Bonus. In addition, the Company will pay you a bonus payment of $39,417.00, less applicable withholdings, which is equivalent to 20% of your average 2010 salary (“Bonus
Payment”). Like the Severance and On Call Payment, the Bonus Payment will be paid within ten (10) business days after expiration of the 7-day revocation period discussed below. 

(iv) Options. As of December 1, 2010, the total vested shares upon your Separation Date are 32,083; all options that have yet
to vest will be surrendered to the Company pursuant to the Company’s 2005 Stock Option Plan (“Plan”). 

 (v) Outplacement Services. The Company has agreed to provide you with outplacement
services. The service provider will be selected by the Company and the terms of the service will be defined in writing within five business days from the Separation Date. 
 (vi) COBRA Coverage. Subject to your timely conversion election, the Company will pay the premiums for your COBRA coverage at the rates then in effect for active employees (subject to any
subsequent changes in the rates that are generally applicable to the Company’s active employees) until the earlier of the six-month anniversary of your Separation Date or the date you become covered under another employer’s group health
plan (“COBRA Subsidy”). 
 Except for the separation terms proposed in this letter, you will not be entitled to any
compensation, benefits or other perquisites of employment after your last day of employment. You agree that the Company’s provision of separation benefits to you shall not be deemed as an admission of liability by the Company. 

In exchange for the separation benefits described above, you agree that you and your representatives waive all claims
of any kind, known and unknown, which you may now have or have ever had against Zeltiq Aesthetics, Inc., its affiliated, related, parent and subsidiary corporations, and its and their present and former directors, officers, and employees. This
release includes all claims arising from your employment with the Company and its termination, including employment discrimination claims under the California Fair Employment and Housing Act, Title VII, the Age Discrimination in Employment Act
(“ADEA”), and any other state or federal law.1 You also agree not to initiate or cause to be initiated any lawsuit, investigation or proceeding of any kind concerning the claims released by this paragraph, or to voluntarily participate in one except
as required by law. Notwithstanding the foregoing, you acknowledge and agree that you are not waiving or being required to waive any right or claim that cannot be waived as a matter of law. 

You understand and agree that this letter shall be maintained in strict confidence, and that you shall not disclose any of its terms to
another person, except legal counsel, unless required by law. You further agree not to disparage Zeltiq Aesthetics, Inc. or any of its affiliates, including their business reputations or business relationships. 

You agree to return all the Company’s materials in your possession, including keys as soon as possible. The Company will allow you
to keep your cell phone and computer issued to you during your employment. You also agree to sign and return the Termination Certificate to the Employee Proprietary Information and Inventions Agreement you entered into during your employment, and
understand that even after your employment with the Company ends, you must comply with your continuing obligations under that Agreement, including your obligation to maintain the confidentiality of the Company’s confidential and proprietary
information. 
  

	1 	 Because this release specifically covers known and unknown claims, you are waiving your rights under Section 1542 of the California Civil Code or
any comparable law of any other jurisdiction. Section 1542 states: “A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known
by him or her must have materially affected his or her settlement to the debtor.” 

  
 Page 2

 This letter agreement and the Employee Proprietary Information and Inventions Agreement
contain all of our agreements and understandings and fully supersede any prior agreements or understandings that we may have had regarding your employment with the Company or its termination. This agreement shall be governed by California law and
may be amended only in a written document signed by you and the Company’s President. If any term in this agreement is unenforceable, the remainder of the agreement will remain enforceable. This agreement shall be binding upon and shall inure to
the benefit of the parties and their respective heirs, successors, attorneys and permitted assigns. You agree, however, that you will not assign any rights or obligations under this agreement, and any such purported assignment shall be null and
void. 
 You agree that you have been advised that you have 21 days to consider this agreement (but may sign it at any time
beforehand if you so desire). You also acknowledge that you have been advised to consult an attorney in considering this agreement. You also understand that you can revoke this agreement within 7 days of signing it by sending a certified letter to
that effect to me. Notwithstanding the foregoing, you understand and agree that the portion of this agreement that pertains to the release of claims under the ADEA shall not become effective or enforceable and no funds shall be exchanged until the
7-day revocation period has expired, but that all other provisions of this agreement will become effective upon its execution by the parties (“Effective Date”). 

If you have any questions, please feel free to call me. Please do not sign this agreement before your Separation Date. We wish you the
very best in your future endeavors. 
  

	
	Very truly yours,
	
	/s/ Gordie Nye
	Chief Executive Officer

 To accept the severance package described above, please sign below and return this letter to me on or before
December 21, 2011. 
  

					
	AGREED AND ACCEPTED:	 		 	
			
	Dated: 12/9/2011	 		 	/s/ Elizabeth Newman
		 		 	Elizabeth Newman

  
 Page 3

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