VOLUNTARY SEVERANCE AGREEMENT AND GENERAL RELEASE
This is an Agreement and General Release (Agreement) between Immersion Medical, ("the Company") and
Richard Stacey (Employee), collectively referred to herein as the "Parties". In order to forever resolve and settle
any and all disputes regarding Employee's employment with the Company or any other disputes with the
Company the Employee may have, the Parties agree as follows:
1. The Parties agree that, as of April 13, 2004, Employee's employment with the Company ended.
2. Employee agrees that he/she will submit any business expense reports to the Company within thirty (30) days
after receipt of this Agreement, and the Company agrees to pay all such properly submitted expense reports
subject to Company policy in accordance with its customary procedures.
3. Employee agrees that he/she shall immediately return to the Company all Company property, including but not
limited to all computer equipment, keys, passwords, tangible proprietary information, documents, books,
records, report, contract, customer and contact lists, computer files and data (and any copies thereof), which
exist in any medium, which were prepared or obtained by Employee in the course of or incident to his/her
4. The Company agrees that it will continue to pay Employee's salary equal to 12 months of base salary which
will include all lawful deductions. Employee recognizes that for purposes of the continuation coverage requirement
of group health plans under the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA), as
amended, and the group health provisions of the Maryland Annotated Code, a "qualifying event: and "applicable
change in status" occurs as of April 13, 2004. The Company also agrees to subsidize the employee's entire
COBRA premium for a 12 month period beginning May 2004. The Company agrees to give Employee all
notices and information required under such laws.
5. Employee agrees that he/she will not disparage or make any der