Exhibit
10.2
SEVERANCE AGREEMENT
THIS SEVERANCE AGREEMENT
(“Agreement”) is effective as of May 1, 2009, by and
between Dr. J. Glen House (“House”) and Disaboom Inc
(the “Company”). The Company and Dr. House are referred
to jointly herein as “the Parties.”
WHEREAS, House has served the Company
in different capacities since its inception, including serving as
the Executive Director of Content, Chief Medical Officer, and as a
member of the Company’s Board of Directors.
WHEREAS, effective October 1, 2007
the Company and House entered into an executive employment
agreement which set forth the terms upon which House served as the
Company’s Executive Director of Content and Chief Medical
Officer (the “Employment Agreement”).
WHEREAS, the Parties wish to mutually
terminate House’s status as the Company’s Executive
Director of Content and Chief Medical Officer and in turn terminate
certain provisions of the Employment Agreement.
WHEREAS, after the effective date of
this Agreement House will not serve in any executive or managerial
capacity to the Company; provided, however, that House will be
available as the Company’s Chief Medical Adviser for periodic
third party and management consultations as mutually agreed upon by
the Parties, and will remain listed on the Company’s website
as its Founder and Chief Medical Adviser.
NOW
THEREFORE, in consideration of the following covenants and promises
and for other valuable consideration as described below, the
Parties hereby agree as follows:
1. Resignation and Termination of
the Employment Agreement .
a. House
hereby resigns from his position as Executive Director of Content
and Chief Medical Officer of the Company. The Parties hereby agree
that, except as provided in this Agreement, the Employment
Agreement is terminated and of no further force or effect. The
Parties agree that upon payment of the consideration described in
Section 2 below, House is not due any other compensation under the
Employment Agreement.
b. The
Parties agree that any and all of the restrictions and obligations
contained within Article 4 of the Employment Agreement, including
but not limited to, the non-competition and non-solicitation
restrictions, remain in full force and effect as described in the
Employment Agreement. The Parties agree and confirm that for the
purposes of Section 4.3 of the Employment Agreement that the
Company is currently engaged in the business of operating web sites
that provide a community for people living with disabilities and
provide certain services and products for such persons. House
agrees and confirms that these restrictions are reasonable in scope
and will not significantly limit House’s employment
opportunities and mobility.
c. The
Parties further agree that the Company’s indemnification
obligations set forth in Article 6.1 of the Employment Agreement
shall remain in full force a
