EXHIBIT 10.12
[TVN ENTERTAINMENT CORPORATION LETTERHEAD]
SEVERANCE AGREEMENT
This Severance Agreement is entered into as of January 23, 1996, between TVN
Entertainment Corporation, a Delaware Corporation (the "Company"), and Xxxx X.
XxXxxxxxxx, an individual ("Employee"), with reference to the following:
Upon termination of Employee's employment by Company for its convenience, in
full and complete satisfaction of any and all claims Employee has or may have
against the Company, its officers, directors and employees, including but not
limited to termination compensation or wrongful termination, the Company agrees
that it shall continue to pay to Employee, as severance pay, Employee's then
current full Base Salary for a period of six months after the effective dates of
such termination, less any amounts Employee actually earns in respect of such
period as a result of his employment by any other employer. In the event of
such termination, Employee shall diligently and promptly seek new employment at
a level commensurate with his duties hereunder.
IN WITNESS HEREOF, the parties have caused this agreement to be duly executed as
of the date hereinabove set forth.
THE COMPANY EMPLOYEE
TVN ENTERTAINMENT CORPORATION
a Delaware Corporation
By /s/ Art Fields /s/ Xxxx X. XxXxxxxxxx
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Art Fields Xxxx X. XxXxxxxxxx
Xx. Executive Vice President
