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Exhibit 10.43
SEPARATION AND RELEASE AGREEMENT
I, Rose Tomich-Litz ("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 $65,625 (Sixty Five 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.
In exchange for the consideration provided to me by this
Agreement that I am not otherwise entitled to receive, I hereby
unconditionally and completely release the Company and its
directors, officers, employees, shareholders, partners, agents,
attorneys, predecessors, successors, parent and subsidiary
entities, insurers, affiliates, and assigns from any and all
claims, liabilities and obligations, both known and unknown, that
arise out of or are in any way related to events, acts, conduct, or
omissions occurring prior to my signing this Agreement. This
general release includes, but is not limited to: (1) all
claims arising out of or in any way related to my employment with
the Company or the termination of that employment; (2) all
claims related to my compensation or benefits from the Company,
including salary, bonuses, commissions, vacation pay, expense
reimbursements, severance pay, fringe benefits, stock, stock
options, or any other ownership interests in the Company;
(3) all claims for breach of contract, wrongful termination,
and breach of the implied covenant of good faith and fair dealing;
(4) all tort claims, including claims for fraud, defamation,
emotional distress, and discharge in violation of public policy;
and (5) all federal, state, and local statutory claims,
including claims for discrimination, harassment, retaliation,
attorneys’ fees, or other claims arising under the federal
Civil Rights Act of 1964 (as amended), the federal Americans with
Disabilities Act of 1990, the federal Age Discrimination in
Employment Act of 1967 (as amended) ("ADEA"), and the California
Fair Employment and Housing Act (as amended) and other analogous
state and local laws or regulations.
In giving this release, which includes claims which may be
unknown to me at present, I hereby acknowledge that I have read and
understand Section 1542 of the Civil Code of the State of
California which reads as follows:
I hereby expressly waive and r
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