SEPARATION AND RELEASE AGREEMENTSeparation and Release Agreement • January 8th, 2007 • American Technology Corp /De/ • Household audio & video equipment
I, Steven Stringer (“Employee,” “me” or “I”), understand that my position with American Technology Corporation (the “Company”) was terminated effective September 19, 2006 (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 $40,625 (Forty Thousand Six Hundred Twenty Five 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.
SEPARATION AND RELEASE AGREEMENTSeparation and Release Agreement • January 8th, 2007 • American Technology Corp /De/ • Household audio & video equipment
I, John R. Zavoli (“Employee,” “me” or “I”), understand that my position with American Technology Corporation (the “Company”) was terminated effective August 17, 2006 (the “Separation Date”).
RELEASE AND SETTLEMENT AGREEMENTRelease and Settlement Agreement • January 8th, 2007 • American Technology Corp /De/ • Household audio & video equipment
WHEREAS, in connection with Ballard’s employment, and the termination of that employment, various disputes (“the Disputes”) have arisen between the Parties, including but not limited to the lawsuit filed by Ballard against ATC which is currently pending in Sagadahoc County Superior Court, captioned Alan J. Ballard v. American Technology Corporation, CV-06 (“the Litigation”);
