CONSULTING AGREEMENTConsulting Agreement • June 17th, 2005 • American Technology Corp /De/ • Household audio & video equipment • California
This Consulting Agreement ("Agreement") is made by and between Carl Gruenler ("Consultant") and American Technology Corporation ("Company"). (Consultant and Company shall be referred to collectively as "the Parties."). In consideration for the execution of this Agreement, and the performance of the terms and conditions herein, the Parties agree:
SEPARATION AND RELEASE AGREEMENTSeparation and Release Agreement • June 17th, 2005 • American Technology Corp /De/ • Household audio & video equipment
I, Carl Gruenler ("Employee," "me" or "I"), understand that my position with American Technology Corporation (the "Company") was terminated effective May 9, 2005 (the "Separation Date"). The Company has agreed that in exchange for my signature on this Agreement and the promises and covenants herein, the Company will pay me severance in the amount of $25,000 (Twenty Five Thousand Dollars and No Cents) minus the standard withholdings and deductions. This payment will be made within five (5) business days after the expiration of the revocation period described below. I understand that I am not entitled to this severance payment unless I sign and do not revoke this Agreement. I understand and agree that in addition to this severance the Company has paid me all of my accrued salary and vacation, to which I am entitled by law. As additional mutual consideration for entering into this Agreement, the Company and I will enter into a Consulting Agreement in the form attached hereto as Exhibit 1
