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EXHIBIT 10(kk)    
    

THE DOW CHEMICAL COMPANY

CHANGE IN CONTROL EXECUTIVE SEVERANCE AGREEMENT—Tier 2  

        This Agreement, dated as of
                                     , is entered into
between The Dow Chemical Company, a corporation organized
under the laws of the State of Delaware ("Dow" or the "Company"), and
                                     (the "Employee").

        WHEREAS,
the Board of Directors of the Company (the "Board") recognizes that the possibility of an Involuntary Termination (as hereinafter defined) exists and that the occurrence of an
Involuntary Termination can result in significant uncertainties inherent in such a situation; and 

        WHEREAS,
the Company has had both informal and formal practices in this area in the past, and the Board has determined that it is in the best interest of the Company and its shareholders
to have clarity over the obligations of the Company to the Employee as a result of an Involuntary Termination in the event of a Change In Control (as hereinafter defined). 

        NOW,
THEREFORE, in consideration of the respective agreements of the parties contained herein, it is agreed as follows: 

        1.    TERM OF AGREEMENT.    This Agreement shall commence as of November 2007 and shall continue in effect until the
Employee leaves the employ of the Company for any reason or until the Employee becomes ineligible for this Change in Control Executive Severance Agreement as determined by the Compensation Committee
of Dow's Board of Directors. In the event that Employee continues as an active employee of the Company but ceases to be eligible for this severance plan as determined by the Compensation Committee,
this Agreement shall become null and void and Employee shall then be eligible for Dow's standard severance policy provided to other salaried employees. 

        2.    DEFINITIONS.    

        a.    ACCRUED COMPENSATION.    For purposes of this Agreement, "Accrued Compensation" shall mean an amount which shall
include all amounts earned or accrued through the "Termination Date" (as hereinafter defined) but not paid as of the Termination Date which shall consist of (i) base salary and
(ii) earned eligible variable pay The amount of earned eligible variable pay shall be determined by using the year to date results and prorated for the number of completed months of the
program. 

        b.    BASE AMOUNT.    For purposes of this Agreement, "Base Amount" shall mean the Employee's annual base salary at
the rate in effect on the Termination Date, including all pre-tax salary reduction contributions or amounts of base salary that are deferred under any employee benefit or deferred
compensation plans of the Company or any other agreement or arrangement. 

        c.    BONUS AMOUNT.    For purposes of this Agreement, "Bonus Amount" shall mean the Employee's Base Amount times the
Employee's target percentage in effect on the Termination Date under Dow's Performance Award Program. 

        d.    CAUSE.    For purposes of this Agreement, "Cause" shall mean the Employee's: 

        (i)    conviction
of, or plea of nolo contendere to a felony or conviction of a misdemeanor involving moral turpitude (from
which no further appeals have been or can be taken) or any similar criminal act in a jurisdiction outside the United States as determined in good faith by the Company; 

        (ii)   material
breach of Dow's Values or Code of Business Conduct, as determined in good faith by the Company; 

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        (iii)  gross
abdication of his or her duties as an employee or Executive of the Company (other than due to the Employee's partial or total incapacity due to illness), which
conduct remains uncured by the Employee for a period of at least thirty (30) days following written notice thereof to the Employee by the Company, in each case as determined in good faith by
the Company; or 

        (iv)  misappropriation
of Company assets, personal dishonesty or business conduct which causes material or potentially material financial or reputational harm for the
Company, in each case as determined in good faith by the Company. 

        (v)   breach
of any non-compete agreement or confidentiality provisions, as determined in good faith by the Company. 

        e.    COMPANY.    For purposes of this Agreement, references to Dow and the Company shall include Dow's "Successors
and Assigns" (as hereinafter defined). 

        f.    INVOLUNTARY TERMINATION.    For purposes of this Agreement, Involuntary Termination shall mean Employee's
(i) termination of employment as a result of a Change in Control within two years of the Change in Control event from Dow or one of the resulting entities in any merger, division,
consolidation, or reorganization, other than Cause, or (ii) termination for Good Reason after a Change in Control. For purposes of this Agreement, an "Involuntary Termination" shall also mean
that the Employee's employment with the Company is severed by the Company for reasons other than Cause. For purposes of clarification, an Involuntary Termination does  not include the following:

        (i)    a
voluntary termination of employment (or resignation) by the Employee for any reason; 

        (ii)   the
voluntary retirement of the Employee; 

        (iii)  a
termination of employment as a result of Disability or death of the Employee; 

        (iv)  the
Employee's termination of employment as a result of a sale of all or a part of the Company's business (or otherwise where it merges, divides, consolidates or
reorganizes) when the Employee has the opportunity to continue employment with the buyer (or one of the resulting entities in any merger, division, consolidation, or reorganization) with comparable
total compensation at a comparable position on comparable terms and conditions of employment to those applicable during the Employee's prior employment with Dow, and regardless of whether the
individual accepts or rejects such employment opportunity. 

        g.    CHANGE IN CONTROL.    For purposes of this Agreement, a Change in Control is the occurrence of one of the
following events: (i) the acquisition of 20% or more of the Company's outstanding voting securities; (ii) changes to the membership of the Board of Directors that result in less than 50%
of the current board being re-elected to the Board; (iii) approval by the shareholders of the Company of the merger or consolidation of the Company with another entity in which the
Company is not the surviving company, or where the other entity owns more than 50% of the Company outstanding voting securities; or (iv) the complete liquidation of, or the sale of all or
substantially all assets of, the Company. 

        h.    GOOD REASON.    For purposes of this agreement, Good Reason shall mean (i) a material reduction in a
Employee's job duties or (ii) a decrease in total overall compensation including variable pay and long term incentives or (iii) a requirement to relocate that extends a Employee's
current home-work commute more than 50 miles; (iv) a substantial increase in business travel; or (v) the failure of the Company to require a successor corporation to
expressly assume or agree to perform this Agreement in the same manner and to the same extent as the Company. 

        i.    DISABILITY.    For purposes of this Agreement, "Disability" shall mean a physical or mental infirmity which
impairs the Employee's ability to substantially perform the Employee's duties with the Company for a period of: (i) one hundred eighty (180) consecutive days; or (ii) one hundred
eighty (180) days during any twelve (12) month period. 

        j.    EXECUTIVE.    For purposes of this Agreement, "Executive" means an employee of the Company who has been approved
for participation in this Agreement by the Compensation Committee of Dow's Board of Directors. 

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        k.    NOTICE OF TERMINATION.    For purposes of this Agreement, "Notice of Termination" shall mean a written notice of
termination of the Employee's employment from the Company, which notice indicates the Employee's last day of active employment with the Company (the "Termination Date"), the benefits to be received by
the Employee and any applicable terms and conditions (which shall include a release of all claims and liabilities arising out of Employee's employment or termination of employment and an ongoing
requirement to protect the Company's confidential information). The Notice of Termination will not become effective until it is signed by Employee and an authorized representative of the Company
within the time period specified in the Notice of Termination. In the event of the Employee's Involuntary Termination, the Company shall provide the Notice of Termination to the Employee as promptly
as possible following the Employee's last day of active employment. 

        l.    SUCCESSORS AND ASSIGNS.    For the purposes of this Agreement, "Successors and Assigns" shall mean a corporation
or other entity acquiring all or substantially all of the assets and business of the Company whether by operation of law or otherwise. 

        3.    SEVERANCE BENEFITS.    

        a.     If,
during the term of this Agreement, an Involuntary Termination occurs, provided that the Employee signs the release within the time provided for in the Notice of
Termination and satisfies any other applicable terms and conditions under the Notice of Termination and this Agreement, the Employee shall be entitled to the following compensation and benefits: 

        (i)    The
Company shall pay Employee all Accrued Compensation; 

        (ii)   The
Company shall pay Employee two (2) times the sum of (A) the Base Amount and (B) the Bonus Amount; 

        (iii)  Employee
shall receive all vested benefits earned under any Company-sponsored retirement or benefit plan in accordance with the terms of those plans; 

        (iv)  Employee
shall receive an additional two (2) years of service credit added to Employee's actual service with Dow for purposes of eligibility, vesting, and
benefit accrual and two (2) additional years of age shall be added to the Employee's age at termination for purposes of calculating the appropriate age band for the additional two years of
service credit or any applicable early retirement factors. Such additional credit shall be subject to the regular plan limits and terms and conditions under the Company's various qualified and
non-qualified retirement plans in which the Employee participates. The benefits to be credited or accrued under a qualified retirement plan pursuant to the preceding sentence shall be
credited or accrued on the Employee's behalf under the corresponding non-qualified plan and shall be paid to the Employee in the same manner and at the same time as other benefits credited
or accrued under such non-qualified plan are payable to Employee. 

        (v)   Employee
shall be eligible for comprehensive outplacement, tax and financial planning assistance up to a maximum of $50,000 payable by the Company. 

        (vi)  Subject
to the last sentence of this Section 3(a)(vi), for eighteen (18) months following the Employee's Involuntary Termination (the "Continuation
Period"), the Company shall continue on behalf of the Employee and the Employee's eligible dependents, the medical, dental and hospitalization benefits provided to other similarly situated Employees
who continue in the employ of the Company during the Continuation Period. The coverage and benefits (including deductibles, copays and employee contribution costs) provided in this
Section 3(a)(vii) during the Continuation Period shall be no less favorable to the Employee and the Employee's dependents than coverage provided to other similarly situated active employees of
the Company. The Company's obligation under this Section 3(a)(vi) shall cease as soon as Employee becomes eligible for another employer's medical, dental and hospitalization benefits during the
Continuation Period. 

        (vii) In
the event severance benefits provided to the executive exceed statutory thresholds and become subject to the 20% "golden parachute excise tax," the Company will
provide gross-up protection for those executives subject to this tax. 

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        (viii)  Long
Term Incentives in the form of performance shares and deferred shares will vest and will be delivered as soon as administratively possible upon Involuntary
Termination. Stock Options will vest immediately upon Involuntary Termination. 

        ix)    Reimbursement
for legal fees and expenses, including reasonable attorney's fees, if any, incurred by the Executive in enforcing the terms of the Agreement. 

        b.     The
amounts provided for in subsections 3(a)(i) and 3(a)(ii) shall be paid in a single lump sum cash payment six months after the Termination Date (or the date the
Notice of Termination becomes effective, if later) or as soon as administratively practicable thereafter; provided however, in any case, such payment shall be paid in a manner that complies with all
applicable laws and regulations and maximizes the tax effectiveness of such payment to the Company and Employee. 

        4.    EMPLOYMENT TAXES.    All payments made pursuant to this Agreement will be subject to all applicable withholding
of income and employment taxes. 

        5.    SUCCESSORS; BINDING AGREEMENT.    This Agreement shall be binding upon and shall inure to the benefit of the
Company, its Successors and Assigns, and the Company shall require any Successors and Assigns to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the
Company would be required to perform it if no such succession or assignment had taken place. Neither this Agreement nor any right or interest hereunder shall be assignable or transferable by the
Employee or the Employee's beneficiaries or legal representatives. This Agreement shall inure to the benefit of and be enforceable by the Employee's legal or personal representative. 

        6.    NOTICE.    For the purposes of this Agreement, notices and all other communications provided for in the
Agreement (including the Notice of Termination) shall be in writing and shall be deemed to have been duly given when personally delivered or sent by certified mail, return receipt requested, postage
prepaid, addressed to the respective addresses last given by each party to the other, provided that all notices to the Company shall be directed to the attention of the Vice President responsible for
Executive Compensation for the Company. 

        7.    NON-EXCLUSIVITY OF RIGHTS.    Nothing in this Agreement shall prevent or limit the Employee's
continuing or future participation in any benefits, bonus, incentive or other plan or program provided by the Company (except for any severance or termination policies, plans, programs or practices
applicable to other salaried employees) and for which the Employee may qualify, nor shall anything herein limit or reduce such rights as the Employee may have under any other agreements with the
Company. Amounts which are vested benefits or which the Employee is otherwise entitled to receive under any plan or program of the Company shall be payable in accordance with such plan or program,
except as explicitly modified by this Agreement. 

        8.    NO IMPLIED EMPLOYMENT RIGHTS.    Nothing in this Agreement shall alter the Employee's status as an "at will"
employee of the Company or be construed to imply that the Employee's employment is guaranteed for any period of time, except as otherwise agreed in a written agreement signed by a duly authorized
officer of the Company. 

        9.    MISCELLANEOUS.    No provision of this Agreement may be modified, waived or discharged, unless such a waiver,
modification or discharge is agreed to in writing and signed by the Employee and the Company. No waiver by either party hereto at any time of any breach by the other party hereto, 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 provisions or conditions at the same or at any prior or subsequent
time. No agreement or representation, oral or otherwise, express or implied, with respect to the subject matter hereof has been made by either party which are not expressly set forth in this
Agreement. 

        10.    GOVERNING LAW.    This Agreement shall be governed by and construed and enforced in accordance with the laws of
the State of Michigan without giving effect to the conflict of law principles thereof. 

        11.    ARBITRATION.    Any dispute or controversy arising under or in connection with the subject matter, the
interpretation, the application, or alleged breach of this Agreement ("Arbitrable Claims") shall be resolved by
binding arbitration in the City of Detroit, in accordance with the then-current National Rules for the Resolution of Employment 

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Disputes
of the American Arbitration Association. Arbitration shall be final and binding upon the parties and shall be the exclusive remedy for all Arbitrable Claims. Notwithstanding the foregoing,
either party may bring an action in court to compel arbitration under this Agreement, to enforce an arbitration award, or to seek injunctive relief. THE PARTIES HEREBY WAIVE ANY RIGHT TO JURY TRIAL AS
TO ARBITRABLE CLAIMS. 

        12.    SEVERABILITY.    The provisions of this Agreement shall be deemed severable and the invalidity or
unenforceability of any provision shall not affect the validity or enforceability of the other provisions hereof. 

        13.    ENTIRE AGREEMENT.    The payments provided for in this Agreement are in lieu of severance or termination
payments or benefits to which the Employee may otherwise be entitled under any applicable law (including any statute, ordinance, rule, regulation, writ, order or pronouncement of the Employee's
domicile, home country or other relevant jurisdiction or any agency or authority of such jurisdiction) in the event of Involuntary Termination, and the Employee hereby waives any entitlement to
severance or termination payments or benefits under any such applicable law. The parties agree that the terms of this Agreement are intended to be the final expression of their agreement with respect
to the subject matter of this Agreement and may not be contradicted by evidence of any prior or contemporaneous agreement, except to the extent that the provisions of any such agreement have been
expressly referred to in this Agreement as having continued effect. Any and all previous agreements, practices and programs between the Company and the Employee dealing with severance or a termination
of employment are null and void and given no effect. 

        IN
WITNESS WHEREOF, the Company has caused this Agreement to be executed by its duly authorized officer and the Employee has executed this Agreement as of the day and year first above
written. 

	The Dow Chemical Company	 	 
	

By:	
 	

          
	
 	

 
	
Employee:	
 	

 
	

          
 Employee Name	
 	

 

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Exhibit 10.33    
    

 
 

EMPLOYMENT AGREEMENT  
  

        THIS EMPLOYMENT AGREEMENT (this "Agreement") is
made and entered into effective as of November 24, 2007 (the "Effective Date") by and between CardioNet, Inc., a California corporation
(the "Company"), and Arie Cohen, an individual ("Employee"). The Company and Employee are hereinafter
collectively referred to as the "Parties," and individually referred to as each or any "Party." 

 
 

RECITALS    
    

        A.    The
Company desires assurance of the association and services of Employee in order to retain Employee's experience, skills, abilities, background and knowledge in the
management and operation of the Company, and is willing to retain Employee's services on the terms and conditions set forth in this Agreement. 

        B.    Employee
desires to enter into the employ of the Company, and is willing to accept such employment on the terms and conditions set forth in this Agreement. 

 
 

AGREEMENT    
    

        In consideration of the foregoing premises and the mutual promises made in this Agreement, and for other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the Parties, intending to be legally bound, hereby agree as follows: 

1.    Employment.  

        1.1   Subject to the approval by the Board of Directors of the Company (the "Board of
Directors"), in its sole discretion, of the results of a physical examination of Employee to be conducted at the expense of the Company by a doctor reasonably acceptable to the
Board of Directors, the Company hereby employs Employee, and Employee hereby accepts employment by the Company, upon the terms and conditions set forth in this Agreement. 

        1.2   Employee shall be the Company's Chief Executive Officer. Employee shall report directly to the Board of Directors. 

        1.3   Employee shall do and perform all services, acts or things necessary or advisable to manage and conduct the business of
the Company; provided, however, that at all times during his employment Employee shall be subject to the direction and policies from time to time
established by the Board of Directors. 

        1.4   Unless the Parties otherwise agree in writing, during the employment term, Employee shall perform the services he is
required to perform pursuant to this Agreement at the Company's office located at 227 Washington Street #300, Conshohocken, Pennsylvania 19428 (the "Conshohocken
Location"), or the Company's then current executive offices should the Company's executive offices be moved from the Conshohocken Location; provided,
however, that the Company may from time to time require Employee to travel temporarily to any other locations in connection with the Company's business. 

2.    Loyal and Conscientious Performance; Noncompetition.  

        During his employment by the Company, Employee shall devote substantial energies, interest, abilities and productive time to the proper and efficient performance
of this Agreement, and shall not engage or in any manner participate in any activity which is directly competitive with or intentionally 

1

 

injurious
to the Company, whether alone, as a partner, as a shareholder, officer or director of any other corporation, or as a trustee, fiduciary or in a similar representative capacity. Employee
shall not serve as an outside director of more than two (2) other for-profit corporations during the term of this Agreement, and shall not serve as a director of more than one
non-profit corporation, without the prior approval of the compensation committee of the Board of Directors. 

3.    Term of Employment.  

        Subject to earlier termination pursuant to Section 7 hereof, Employee shall be employed by the Company pursuant to this Agreement for an initial term,
commencing on November 26, 2007 and ending on December 31, 2011, provided that the term of this Agreement shall continue from month to month after such time in the absence of
30 days written notice to the contrary from either Party to the other Party (the "Termination Date"). 

4.    Compensation of Employee.  

        4.1   During the term of this Agreement (commencing as of the Effective Date), the Company shall pay Employee an annual salary
(the "Base Salary") of Four Hundred Fifty Thousand Dollars ($450,000), payable in accordance with the Company's general payroll practices. Such salary
may be increased (but not decreased) each year in the sole and absolute discretion of the Board of Directors. 

        4.2   Within one business day following the later of (a) the commencement of Employee's employment with the Company and
(b) the approval by the shareholders of the Company of an increase in the number shares of Common Stock of the Company reserved for issuance pursuant to the Company's 2003 Equity Incentive Plan
(the "Plan"), subject to the terms of the Plan, Employee will be granted a stock option under the Plan to purchase 900,000 shares of the Company's
Common Stock (the "Option"). To the maximum extent possible, the Option shall be an Incentive Stock Option as such term is defined in Section 422
of the Internal Revenue Code of 1986, as amended (the "Code"). The Option will be governed by the Plan and granted pursuant to a separate Stock Option
Grant Notice and Stock Option Agreement, in the form attached hereto, respectively, as Exhibits C-1 and C-2. The exercise price per share of the Option will be equal to the
fair market value of the Common Stock of the Company established on the date of grant, as determined by the Board of Directors. The Option will be subject to vesting over four (4) years so long
as Employee provides Continuous Service to the Company in accordance with the Plan, according to the following schedule: 25% of the shares subject to the Option will vest on the first anniversary of
the Effective Date and 1/48th of the shares subject to the Option will vest monthly thereafter over the next three years. 

        4.3   During the term of this Agreement, Employee shall also be eligible to receive an annual performance bonus (the  "Bonus") at the end of each
fiscal year beginning with the fiscal year ending on December 31, 2008. Unless otherwise agreed by the parties
subsequent to the date hereof, (i) the amount of such Bonus, if any, shall be determined by the Board of Directors in its sole and absolute discretion and (ii) any Bonus awarded to
Employee shall be paid to Employee within ninety (90) days of the end of the fiscal year of the Company in which such Bonus is earned. In Employee's capacity as Chief Executive Officer, he will
be expected to implement an appropriate employee bonus and long term incentive plan, in order for the Company to attract and retain executive and employee talent. The implementation of any such
incentive compensation plans shall be subject to approval by the Board of Directors. 

        4.4   If this Agreement is terminated prior to the expiration of its term pursuant to Section 7 hereof, Employee shall
receive the compensation, if any, described in such Section 7. 

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5.    Other Benefits.  

        5.1   Employee shall be eligible to participate in and be covered by any pension and profit sharing, life insurance, accident
insurance, health insurance, dental insurance, hospitalization, disability, medical reimbursement or other plan(s) maintained from time to time by the Company for its employees. Employee's dependents
may be added to such coverage, if eligible, at Employee's own expense. In Employee's capacity as Chief Executive Officer, he will be expected to implement appropriate fringe benefit plans, including
but not limited to deferred compensation plans, qualified retirement plans, non-qualified retirement plans, D&O insurance, and disability and life insurance plans, in order for the Company
to attract and retain executive and employee talent. The implementation of all such fringe benefit plans shall be subject to approval by the Board of Directors. 

        5.2   Employee shall be entitled to receive four (4) weeks of vacation per calendar year at full salary. It is
understood that vacations need not be taken during the year earned. Employee agrees that such vacation shall be taken at such times as the Employee shall determine from time to time, after prior
consultation with the Board of Directors. Employee shall be entitled to additional time, also at full salary, to attend such meetings or courses as are necessary or advisable, as mutually determined
by Employee and the Company. Employee shall further be entitled to reasonable time off, also at full salary, for sickness or matters of personal emergency up to a maximum of two (2) weeks per
year. 

        5.3   The Company shall pay on Employee's behalf, or reimburse Employee for, expenses reasonably incurred in connection with
his employment. Employee agrees to submit receipts or other documentation to support the above expenses as a condition of reimbursement therefor. 

        5.4   The Company shall, to the maximum extent permitted by law, indemnify and hold Employee harmless against any costs and
expenses, including reasonable attorneys' fees, judgments, fines, settlements and other amounts incurred in connection with any proceeding arising out of, by reason of or relating to Employee's
employment by the Company. The Company shall also advance to Employee any costs and expenses incurred in defending any such proceeding to the maximum extent permitted by law. The Company shall also
provide the Employee with coverage as a named insured under a directors and officers liability insurance policy maintained for the Company's directors and officers. The Company shall continue to
maintain directors and officers liability insurance for the benefit of Employee during the term of this Agreement and for at least three (3) years following the termination of Employee's
employment with the Company. This obligation to provide insurance and indemnify the Employee shall survive expiration or termination of this Agreement with respect to proceedings or threatened
proceedings based on acts or omissions of the Employee occurring during the Employee's employment with the Company or with any affiliated company. Such obligations shall be binding upon the Company's
successors and assigns and shall inure to the benefit of the Employee's heirs and personal representatives. 

6.    Relocation Benefits.    Employee shall be entitled to reimbursement by the Company for the reasonable and customary
out-of-pocket relocation expenses of the type described on Exhibit A hereto incurred by Employee in connection with
Employee's relocation to Conshohocken, Pennsylvania (collectively, the "Relocation Benefits"). The Parties agree that the amounts listed on  Exhibit A opposite the Relocation Benefits represent the good faith estimate of the Company and Employee of the aggregate amount of Relocation
Benefits to be provided to Employee pursuant to this Section 6.1; provided, however, that except as specifically set forth on Exhibit A
hereto, such good faith estimate shall not either limit or set a floor for the aggregate value of the reasonable and customary Relocation Benefits to be provided to Employee pursuant hereto. In
addition, the Company shall pay to Employee an amount equal to the difference of (A) the gross sales price originally paid by Employee in connection with the purchase of Employee's residence in
Ladera Ranch, California (without taking into account transfer taxes, real estate commissions, or closing costs paid by Employee in connection with the purchase of such residence) less (B) the
gross sales proceeds received by Employee in connection 

3

 

with
the sale of Employee's residence in Ladera Ranch, California (without taking into account transfer taxes, real estate commissions, closing costs or any other amount paid by Employee that is
subject to reimbursement pursuant to this Section 6), up to a maximum aggregate amount of $150,000. Employee agrees to provide to the Company such information and documentation as is reasonably
necessary to enable the Company to determine the amount payable to Employee pursuant to the preceding sentence, and such amount shall be paid to Employee by the Company no later than 30 days
from the date that such information and documentation has been delivered by Employee to the Company. 

7.    Termination and Severance Compensation.  

        7.1   Definition of "Cause".    For purposes of this Agreement, "Cause" for termination shall mean:
(i) Employee's dishonesty, embezzlement or fraud against the Company; (ii) Employee's commission of any willful and malicious mischief which results in injury to the Company or property
of the Company; (iii) Employee's willful refusal or failure to follow lawful and reasonable directions of the Board of Directors following written notice of such directions by the Board of
Directors to Employee and Employee's failure to follow such directions within twenty (20) days following the date of delivery to Employee of such notice; (iv) Employee's conviction of
any felony involving moral turpitude; or (v) Employee's gross negligence or gross misconduct in the performance of his duties under this Agreement. 

        For
the purpose of the above definition of Cause, no act, or failure to act, on Employee's part shall be deemed "willful" unless done, or omitted to be done, by the Employee not in good
faith and without reasonable belief that his action or omission was in the best interest of the Company. Failure of the Company or the Employee to achieve or satisfy any target, milestone or other
performance goal or hurdle shall not be deemed a failure by the Employee to perform his duties or to comply with any of the directives of the Board of Directors. 

        7.2   Cause.    The Company shall have the right to terminate Employee's employment hereunder for Cause upon written
notice to Employee. If the Company terminates Employee's employment for Cause, the Employee's sole and exclusive right and remedy hereunder shall be the right to receive his accrued base compensation
and outstanding expense reimbursements through the date of such termination, plus such compensation and benefits as may be expressly required by law or which are required to be provided in accordance
with the respective terms of the Company's benefit plans and arrangements. Except as set forth in this Section 7.2, the Company shall have no responsibility for the payment of any compensation
or benefits to Employee for any time period subsequent to such termination except as may be expressly required by law or the respective terms of benefit arrangements to be paid even upon termination
for cause or voluntary termination. 

        7.3   Voluntary Termination.    Employee shall have the right voluntarily to terminate this Agreement at any time
upon thirty (30) days prior written notice to the Company. If Employee voluntarily terminates his employment hereunder, Employee's sole and exclusive rights and remedies hereunder shall be the
right to receive his accrued base compensation and outstanding expense reimbursements through the date of such termination, plus such compensation and benefits as may be expressly required by law or
which are required to be provided in accordance with the respective terms of the Company's benefit plans and arrangements. Except as set forth in this Section 7.3, the Company shall have no
responsibility for the payment of any compensation or benefits to Employee for any time period subsequent to such termination. 

        7.4   Termination by Employee for Good Reason.

        (a)    Definition of Good Reason.    The Employee shall have the right to immediately
terminate his employment for Good Reason. For purposes of this Agreement, "Good Reason" shall be limited to the following (unless the Employee and the
Company shall execute a written 

4

 

agreement
specifically stating that the occurrence of such event shall not constitute "Good Reason" under this Agreement): 

          (i)  The
failure to elect and continue Employee as Chief Executive Officer of the Company, or if the scope of Employee's authority, duties or responsibilities as Chief
Executive Officer of the Company are in the aggregate materially diminished or reduced, or if there is a change in the reporting relationship provided for under this Agreement; 

         (ii)  A
Change of Control as defined in this Section 7 occurs, unless following a Change of Control the successor organization offers to assume and perform all
obligations of the Company under this Agreement and any related agreements; or 

        (iii)  A
material breach by the Company of any of the terms of this Agreement. 

        (b)    Procedure Upon Termination by Employee for Good Reason.    Notwithstanding the
foregoing, termination by the Employee for Good Reason shall not be effective until and unless notice of intention to terminate for Good Reason has been given by the Employee, and such failure or
breach is not corrected by the Company within thirty (30) days after delivery to Company of written notice of such breach. 

        7.5   Involuntary Termination Without Cause or for Good Reason; Disability.    The Company shall have the right to
terminate Employee's employment hereunder without Cause upon written notice to Employee. Should Employee be terminated without Cause (other than as a direct result of the Board of Directors'
unsatisfactory review of the results of the physical examination described in Section 1.1 above) or in the event of Employee's resignation for Good Reason pursuant to Section 7.4 or
Employee's complete disability, as defined in Section 8 hereof, then, provided that Employee has furnished to the Company an effective Release and Waiver in the form attached hereto as  Exhibit B within the time period set forth therein (but in no event later than forty-five (45) days after the date of
termination), the Employee shall be entitled to receive the following severance payments and benefits (the "Severance Benefit"): 

          (i)  payment
of Employee's accrued and unpaid base compensation to the date of termination, plus payment of Employee's base compensation until the earlier of
(a) fifteen (15) months following the date of termination and (b) the date on which Employee begins full-time employment with another business entity, such
compensation to be paid in accordance with the Company's general payroll practices and not as a lump sum, less applicable withholdings. The period over which Employee shall receive such payment is
referred to herein as the "Severance Benefit Period"; 

         (ii)  payment
of any incentive compensation payable with respect to the calendar year prior to the calendar year in which termination occurs (if not previously paid); and 

        (iii)  continuation
for the Severance Benefit Period of health insurance for Employee and his family (or until such earlier date that substantially equivalent or better
benefits are provided by a successor employer) on the same basis as provided prior to termination; and, if such benefits cannot be continued for Employee's benefit under the benefit plan provisions
because of the termination of Employee's employment with the Company, then Employee will be paid the value of such benefits in lieu thereof on a monthly basis, in advance). 

Except
as set forth in this Section 7.5, the Company shall have no responsibility for the payment of any other compensation or benefits to Employee for any time period subsequent to such
termination except as may be expressly required by law or pursuant to the respective terms of the Company's benefit plans or arrangements. Benefits payable under this Section 7.5, to the extent
of payments made from the date of Employee's termination through March 15th of the calendar year following such termination, are intended to constitute separate payments for purposes of
Section 1.409A-2(b)(2) of the Treasury 

5

 

Regulations
and thus payable pursuant to the "short-term deferral" rule set forth in Section 1.409A-1(b)(4) of the Treasury Regulations; to the extent such payments are
made following said March 15th, they are intended to constitute separate payments for purposes of Section 1.409A-2(b)(2) of the Treasury Regulations made upon an involuntary
termination from service and payable pursuant to Section 1.409A-1(b)(9)(iii) of the Treasury Regulations, to the maximum extent permitted by said provision, with any excess
amount being regarded as subject to the distribution requirements of Section 409A(a)(2)(A) of the Code, including, without limitation, the requirement of
Section 409A(a)(2)(B)(i) of the Code that payment to Employee be delayed until six (6) months after separation from service if Employee is a "specified employee" within the
meaning of the aforesaid section of the Code at the time of such separation from service. 

7.6    Change of Control.  

        (a)   Effect of Change of Control Event.    In the event that Employee's employment is terminated by the Company
without Cause, or Employee resigns for Good Reason, in connection with, or in contemplation or anticipation of, a Change of Control or within one year following any such Change of Control, all stock
options held by Employee that are unvested under the terms of this Agreement and/or any stock option agreement between the Employee and the Company shall immediately be accelerated and become vested
(or, in the case of stock options that have been exercised and which common stock is subject to repurchase by the Company, all of such common stock shall no longer by subject to such repurchase). 

        (b)   Definition of Change of Control.    A "Change of Control" with
respect to the Company shall be deemed to have occurred at the time of the earliest to occur of the following: 

          (i)  Any
"person" as such term is used in Sections 13(d) and 14(d) of Securities Exchange Act of 1934, as amended (the "Exchange
Act") (other than the Company, any trustee or other fiduciary holding securities under an Executive benefit plan of the Company, or any company owned, directly or indirectly,
by the share owners of the company in substantially the same proportions as their ownership of stock of the Company), is or becomes the "beneficial owner" (as defined in
Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing fifty percent (50%) or more of the combined voting power of the Company's then
outstanding securities; 

         (ii)  The
share owners of the Company approve a merger or consolidation of the Company with any other company, other than (1) a merger or consolidation which would
result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the
surviving entity) more than 50% of the combined voting power of the voting securities of the company or such surviving entity outstanding immediately after such merger or consolidation, or
(2) a merger or consolidation effected to implement a recapitalization of the Company (or similar transaction) in which no "person" (as defined in subsection (i) above) acquires more
than 50% of the combined voting power of the Company's then outstanding securities; or 

        (iii)  The
share owners of the Company approve a plan of liquidation of the Company or an agreement for the sale or disposition by the Company of all or substantially all of
the Company's assets. 

        (c)   Parachute Payment Provision.    In the event that it shall be determined that any payment or distribution by
the Company to or for the benefit of Employee, whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise (a  "Payment"), would (i)
 constitute an "excess parachute payment" within the meaning of Section 280G of the Internal Revenue Code, and
(ii) be subject to the excise tax imposed by Section 4999 of the Code 

6

 

(the  "Excise Tax"), then the Employee shall be entitled, in lieu of such Payment, to a payment or distribution equal to the Modified Amount. The  "Modified Amount" shall be either (x) the largest portion of the Payment that would result in no portion of the Payment being subject to the
Excise Tax (the "Base Amount") or (y) the entire Payment plus an additional cash payment in an amount equal to the Partial Gross-Up
Payment (as defined below), whichever of (x) or (y), after taking into account all applicable federal, state and local employment taxes, income taxes, and the Excise Tax (all computed at the
highest applicable marginal rate), results in receipt by Employee, on an after tax basis, of the greater amount notwithstanding that all or some portion of the Modified Amount may be subject to the
Excise Tax. For purposes of this paragraph, the "Partial Gross-Up Payment" shall be an amount calculated such that, after taking into
account all applicable federal, state and local employment taxes, income taxes, and the Excise Tax (all computed at the highest applicable marginal rate), results in receipt by Employee, on an after
tax basis, of an amount equal to one-half of the Excise Tax that would be imposed on the Payment if the full Payment were to be made to Employee without reference to this Section. If a
reduction in payments or benefits constituting "parachute payments" is necessary so that the Payment equals the Base Amount, reduction shall occur in the following order unless Employee elects in
writing a different order (provided, however, that such election shall be subject to Company approval if made on or after the effective date of the event that triggers the Payment): reduction of cash
payments; cancellation of accelerated vesting of stock awards; reduction of employee benefits. In the event that acceleration of vesting of stock award compensation is to be reduced, such acceleration
of vesting shall be cancelled in the reverse order of the date of grant of Employee's stock awards (i.e., earliest granted stock award cancelled last) unless you elect in writing a different order for
cancellation. All determinations to be made under this paragraph shall be made by the independent public accounting firm used by Company immediately prior to the Change in Control event. Any such
determination by the accounting firm shall be binding upon the Company and Employee, provided that it is made in good faith, and subject to any manifest errors made in preparing or communicating the
determinations and supporting calculations. 

8.    Disability During Term of Employment.  

        The term "completely disabled" as used in this Agreement shall mean the inability of Employee to perform his duties under this Agreement because he has become
permanently disabled within the meaning of any policy of disability income insurance covering employees of the Company then in force. In the event the Company has no policy of disability income
insurance covering employees of the Company in force when Employee becomes disabled, the term "completely disabled" shall mean the inability of Employee to substantially perform his duties under this
Agreement by reason of any incapacity, physical or mental, which the Board of Directors, based upon a medical opinion provided by a licensed physician mutually acceptable to the Employee and the Board
of Directors, determines to have incapacitated Employee from substantially performing his required services for the Company during the foreseeable future. Based upon such medical opinion, the action
of the Board of Directors
shall be final and binding and the date such action is taken shall be the date of such complete disability for purposes of this Agreement. 

9.    Employee's Duties on Termination.  

        Upon the termination of this Agreement, Employee shall promptly deliver to the Company all equipment, notebooks, documents, memoranda, reports, files, books,
correspondence, lists and other written or graphic records, and the like, relating to the Company's business, which are property of the Company and are in Employee's possession or under his control. 

7

 

10.    Assignment and Binding Effect.  

        This Agreement shall be binding upon and inure to the benefit of Employee and Employee's heirs, executors, administrators and legal representatives. This
Agreement shall be binding upon and inure to the benefit of the Company and its successors, permitted assigns and legal representatives. Neither this Agreement nor any rights or obligations under this
Agreement shall be assignable by either Party without the prior written consent of the other Party. 

11.    Notices.  

        All notices or demands of any kind required or permitted to be given by the Company or Employee under this Agreement shall be given in writing and shall be
personally delivered (and receipted for) or mailed by certified mail, return receipt requested, postage prepaid, addressed as follows: 

If
to the Company: 

CardioNet, Inc.

1010 Second Avenue, Suite 700

San Diego, California 92101

Attn: Secretary 

If
to Employee: 

Arie
Cohen

6 Salvatore

Ladera Ranch, California 92694 

        Any
such written notice shall be deemed received when personally delivered or three (3) days after its deposit in the United States mail as specified above. Either Party may
change its address for notices by giving notice to the other Party in the manner specified in this section. 

12.    Governing Law.  

        This Agreement shall be construed and interpreted in accordance with the laws of the State of California as applied to agreements among California residents
entered into and to be performed entirely within California. 

13.    Integration.  

        This Agreement contains the entire agreement of the Parties relating to the subject matter of this Agreement, and supersedes all prior oral and written employment
agreements or arrangements between the Parties. This Agreement cannot be amended or modified except by a written agreement signed by Employee and an authorized officer the Company (other than
Employee). 

14.    Waiver.  

        No term, covenant or condition of this Agreement or any breach thereof shall be deemed waived, except with the written consent of the Party against whom the
waiver is claimed, and any waiver of any
such term, covenant, condition or breach shall not be deemed to be a waiver of any preceding or succeeding breach of the same or any other term, covenant, condition or breach. 

15.    Severability.  

        The unenforceability, invalidity or illegality of any provision of this Agreement shall not render any other provision of this Agreement unenforceable, invalid or
illegal. 

8

 

16.    Interpretation; Construction.  

        The headings set forth in this Agreement are for convenience only and shall not be used in interpreting this Agreement. The Parties acknowledge that each Party
and its counsel has reviewed and revised, or had an opportunity to review and revise, this Agreement, and the normal rule of construction to the effect that any ambiguities are to be resolved against
the drafting party shall not be employed in the interpretation of this Agreement. 

17.    Counterparts.  

        This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 

18.    Binding Arbitration.  

        18.1   Any dispute, claim or controversy with respect to Employee's termination of employment with the Company
(whether the termination of employment is voluntary or involuntary), and any dispute, claim or controversy with respect to incidents or events leading to such termination or the method or manner of
such termination, and/or any compensation or stock owed to Employee of any type, and any question of arbitrability hereunder, shall be settled, to the fullest extent permitted by law, exclusively by
arbitration. 

        18.2   Employee and the Company each waive their constitutional rights to have such matters determined by a jury.
Instead of a jury trial, an arbitrator shall be chosen by the Company and Employee. The Parties hereby acknowledge that arbitration is preferred because, among other reasons, it is quicker, less
expensive and less formal than litigation in court. 

        18.3   The arbitrator shall not have the authority to alter, amend, modify, add to or eliminate any condition or
provision of this Agreement. The arbitration shall be held in Philadelphia, Pennsylvania. The award of the arbitrator shall be final and binding on the Parties. Judgment upon the arbitrator's award
may be entered in any court, state or federal, having jurisdiction over the Parties. Each Party shall bear its respective costs of arbitration. 

        18.4   Should any court determine that any provision(s) of this Agreement to arbitrate is void or invalid, the
Parties specifically intend every other provision of this Agreement to arbitrate to remain enforceable and intact. Each Party hereby acknowledges that it prefers arbitration to recourse to the courts,
for the reasons described above, and has prescribed arbitration as its sole and exclusive method of dispute resolution. 

[REMAINDER
OF THIS PAGE INTENTIONALLY LEFT BLANK] 

9

        IN WITNESS WHEREOF, the Parties have executed this Agreement effective as of the date first above written. 

	 	 	COMPANY
	 	 	CARDIONET, INC., a California corporation
	

 	
 	

By:	

/s/  JAMES M. SWEENEY      

	 	 	Name:	James M. Sweeney

	 	 	Title:	Chairman and CEO

	

 	
 	
EMPLOYEE
	

 	
 	

/s/  ARIE COHEN      
 Arie Cohen

[SIGNATURE PAGE TO EMPLOYMENT AGREEMENT]

 
 

Exhibit A
  
    RELOCATION BENEFITS    
    

	 
	Description of Benefits
	 	Estimate of Dollar Amount

	1.	Reasonable costs associated with travel to the Philadelphia metropolitan area to look for housing and reasonable costs associated with the relocation of Employee's family and personal effects to Conshohocken, Pennsylvania
(including packing, moving, insurance and storage of belongings).	 	$	45,000.00	 	 
	

2.	

Reasonable and customary costs of temporary housing to be approved by the Board of Directors for up to six months of temporary housing in Conshohocken, Pennsylvania.	
 	
$	

25,000.00	
 	

 
	

3.	

Transfer taxes and conveyancing costs associated with the sale of Employee's principal residence in Ladera Ranch, California.	
 	
$	

75,000.00	
 	

(shared with #4)
	

4.	

Reasonable and customary real estate broker commission for the sale of principal residence of Employee in Ladera Ranch, California.	
 	
$	

75,000.00	
 	

(shared with #3)
	

5.	

Closing costs (including but not limited to real estate transfer taxes (buyer's share only), conveyancing fees and costs, title insurance fees and charges, legal costs, financing application and closing costs, up to 1% mortgage "points", and other
costs normally paid by buyer on the closing or settlement sheet at a residential real estate closing in Pennsylvania) associated with the purchase of Employee's principal residence in the Philadelphia metropolitan area upon Employee's relocation from
Ladera Ranch, California.	
 	
$	

50,000.00	
 	

 
	

6.	

Miscellaneous out of pocket expenses associated with Items 1 through 5 above.	
 	
$	

20,000.00	
 	

 

 
 
 

EXHIBIT B
  
    RELEASE AND WAIVER OF CLAIMS    
    

        In consideration of the payments and other benefits set forth in the Employment Agreement dated November 24, 2007 to which this form is attached, I, Arie
Cohen, hereby furnish CardioNet, Inc. (the "Company"), with the following release and waiver ("Release and
Waiver"). 

        In
exchange for the consideration provided to me by the Employment Agreement that I am not otherwise entitled to receive, I hereby generally and completely release the Company and its
directors, officers, employees, shareholders, partners, agents, attorneys, predecessors, successors, parent and subsidiary entities, insurers, affiliates, and assigns from any and all claims,
liabilities and obligations, both known and unknown, that arise out of or are in any way related to events, acts, conduct, or omissions occurring prior to my signing this Release and Waiver. This
general release includes, but is not limited to: (1) all claims arising out of or in any way related to my employment with the Company or the termination of that employment; (2) all
claims related to my compensation or benefits from the Company, including, but not limited to, salary, bonuses, commissions, vacation pay, expense reimbursements, severance pay, fringe benefits,
stock, stock options, or any other ownership interests in the Company; (3) all claims for breach of contract, wrongful termination, and breach of the implied covenant of good faith and fair
dealing; (4) all tort claims, including, but not limited to, claims for fraud, defamation, emotional distress, and discharge in violation of public policy; and (5) all federal, state,
and local statutory claims, including, but not limited to, claims for discrimination, harassment, retaliation, attorneys' fees, or other claims arising under the federal Civil Rights Act of 1964 (as
amended), the federal Americans with Disabilities Act of 1990, the federal Age Discrimination in Employment Act of 1967 (as amended) ("ADEA"), and the
California Fair Employment and Housing Act (as amended). 

        I
also acknowledge that I have read and understand Section 1542 of the California Civil Code which reads 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." I hereby expressly waive and relinquish all rights and benefits under that section and any law of any jurisdiction of similar effect with respect to any claims I may
have against the Company. 

        I
acknowledge that, among other rights, I am waiving and releasing any rights I may have under ADEA, that this Release and Waiver is knowing and voluntary, and that the consideration
given for this Release and Waiver is in addition to anything of value to which I was already entitled as an executive of the Company. I further acknowledge that I have been advised, as required by the
Older Workers Benefit Protection Act, that: (a) the release and waiver granted herein does not relate to claims under the ADEA which may arise after this Release and Waiver is executed;
(b) I have the right to consult with an attorney prior to executing this Release and Waiver (although I may choose voluntarily not to do so); and (c) I have twenty-one
(21) days from the date of termination of my employment with the Company in which to consider this Release and Waiver (although I may choose voluntarily to execute this Release and Waiver
earlier); (d) I have seven (7) days
following the execution of this Release and Waiver to revoke my consent to this Release and Waiver; and (e) this Release and Waiver shall not be effective until the seven (7) day
revocation period has expired. 

        This
Release and Waiver shall not act as a release of (i) the obligations of the Company specified in my Employment Agreement to be paid or provided upon my termination of
employment from the Company, (ii) any accrued or vested benefits under any employee benefit plan or program, (iii) any rights I may have to receive unemployment compensation,
(iv) any rights I may have under any shareholder's agreement or option plan or agreement pertaining to any equity securities of the Company owned by me, and (v) my right to be
indemnified by the Company, pursuant to charter, 

2

 

certificate,
by-laws or other constituent documents of the Company, my Employment Agreement, or under any insurance maintained by or for the benefit of the Company. 

        This
Release and Waiver constitutes the complete, final and exclusive embodiment of the entire agreement between the Company and me with regard to the subject matter hereof. I am not
relying on any promise or representation by the Company that is not expressly stated herein. This Release and Waiver may only be modified by a writing signed by both me and a duly authorized officer
of the Company. 

	

Date:	
 	

 	
 	

By:	
 	

 Arie Cohen

3

QuickLinks

Exhibit 10.33

EMPLOYMENT AGREEMENT

RECITALS

AGREEMENT

Exhibit A RELOCATION BENEFITS

EXHIBIT B RELEASE AND WAIVER OF CLAIMS

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