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Re: Separation and Release Agreement

Release Agreement

Re:
Separation and Release Agreement | Document Parties: INFOSONICS CORP You are currently viewing:
This Release Agreement involves

INFOSONICS CORP

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Title: Re: Separation and Release Agreement
Governing Law: Florida     Date: 3/31/2009
Industry: Communications Equipment     Sector: Technology

Re:
Separation and Release Agreement, Parties: infosonics corp
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Exhibit 10.24

January 1, 2009

John Althoff
4350 Executive Drive Suite #100
San Diego, CA 92121

Re:

Separation and Release Agreement

Dear John:

        This letter sets forth the terms of the Separation and Release Agreement ("Agreement") between you and InfoSonics Corporation ("InfoSonics" or the "Company"). Please read it carefully. It contains a release of claims and a promise not to sue the Company:

        1.     Your resignation has been accepted employment with the Company is terminated, effective December 31, 2008 ("Separation Date"). As of your Separation Date, you have no duties, responsibilities or authority whatsoever as an employee, agent or representative of the Company.

        2.     Subject to the terms of this Agreement and upon the occurrence of the Effective Date (as defined herein), and the return of any and all equipment provided to you, the Company agrees to pay to you severance of seven-thousand five-hundred ($7,500.00) (less applicable taxes and withholdings), in addition you will keep the Dell D620 laptop computer issued to you by InfoSonics (combined "Severance Payment").

        3.     You acknowledge that the Company's obligation to make the Severance Payment as set forth herein arises solely from this Agreement and that, except as provided in this Agreement, the Company is not obligated to make any severance or similar payment to you. You agree and understand that your receipt of the Severance Payment and other benefits pursuant to this Agreement is expressly contingent upon your continued compliance with the terms of this Agreement.

        4.     In exchange for the Severance Payment and other benefits provided to you as described herein, to the extent permitted by law, you, for yourself, your heirs, executors, distributees, legatees, administrators, successors and assigns to the extent permitted by law, hereby release and forever discharge InfoSonics, all current and former parents, subsidiaries, benefit plans, related companies, partnerships, joint ventures, and other affiliates thereof, and with respect to all of them, their predecessors and successors, and with respect to all such entities, all of their past, present and future employees, officers, directors, stockholders, owners, representatives, assigns, attorneys, agents, insurers, and any other persons acting by, through, under or in concert with any of the persons or entities listed herein, and their successors (the "Released Parties") of and from any and all charges, complaints, actions, causes of action, suits, liabilities, obligations, promises, controversies, damages, losses, debts and expenses (including attorneys' fees and costs) and claims in law or in equity of any nature whatsoever, known or unknown, suspected or unsuspected, you may have, ever had, now have or shall have against each or any of the Released Parties, to and including the date of execution of this Agreement, including, but not limited to, claims for breach of an implied or express employment contract, claims for wrongful discharge, claims for negligent or intentional tort, claims alleging a violation of the Consolidated Omnibus Budget Reconciliation Act (COBRA) (29 U.S.C. § 1161 et . seq .); the Older Workers Benefit Protection Act (29 U.S.C. §§ 626 et seq .); the Age Discrimination in Employment Act of 1967, as amended (29 U.S.C. §§ 621 et seq .); Title VII of the Federal Civil Rights Act of 1964, as amended (including as amended by the Civil Rights Act of 1991) (41 U.S.C. §§ 2000e et seq .); the Equal Pay Act of 1963, as amended (29 U.S.C. § 206(d)(1)-(4); the Civil Rights Acts of 1866 and 1871 (42 U.S.C. § 1981); the Immigration Reform and Control Act of 1986 (29 U.S.C. §§ 1802 et . seq .); the Worker Adjustment and Retraining Notification Act, (29 U.S.C §§ 2101 et seq .); the Employee Retirement Income Security Act of 1974, as amended (29 U.S.C. §§ 1001 et seq .); the Fair Labor Standards Act (29 U.S.C. §§ 201 et seq .); the Americans with Disabilities Act of 1990 (42 U.S.C. §§ 12101 et seq .); the Family Medical Leave Act of 1993, (29 U.S.C. §§ 2611 et seq .), claims pursuant to federal, state or local law regarding discrimination based on age, race, sex, pregnancy, religion, national


 

origin, disability, marital status, sexual orientation or preference, and claims for alleged violation of any other local, state, or federal law, regulation, ordinance, common law or public policy, having any bearing whatsoever on the terms or conditions of your employment with or by InfoSonics or the separation of your employment from the Company. You further agree, to the extent permitted by law, not to bring suit or other legal action against any of the Released Parties based on any claims that are being released pursuant to this Agreement and expressly agree to waive any benefit therefrom. You understand, agree and intend that this Agreement contains a full and final release, compromise and settlement of any and all claims you may have against


 
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