SEPARATION AND LEASE AGREEMENTSeparation and Lease Agreement • December 29th, 2005 • American Technology Corp /De/ • Household audio & video equipment
I, Kalani Jones ('Employee," "me" or "I"), understand that my position with American Technology Corporation (the "Company") was terminated effective October 17, 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 $82,500.00 (Eighty-Two Thousand Five Hundred Dollars and No Cents). This payment will be made within five (5) business days after the expiration of the revocation period described below, and will be subject to standard withholdings and deductions. The Company will also pay on my behalf the premiums for continuing health benefits under COBRA, until the earlier to occur of my being eligible for health care coverage through my next employer, or February 28, 2006. The Company will also agree to extend until February 15, 2006 the period of time for which the vested portion (as of the Separation Date) of all Company stock options I hold may b
