EXHIBIT 10.21
TIER I
SEVERANCE AGREEMENT
THIS AGREEMENT, dated March 5th, 1998, is made by and between Aura Systems, Inc., a Delaware
corporation (the "Company"), and _________________ (the "Executive").
WHEREAS, the Company considers it essential to the best interests of its stockholders to foster the continued
employment of key management personnel; and
WHEREAS, the Board recognizes that, as is the case with many publicly held corporations, the possibility of a
Change in Control exists and that such possibility, and the uncertainty and questions which it may raise among
management, may result in the departure or distraction of management personnel to the detriment of the
Company and its stockholders; and
WHEREAS, the Board has determined that appropriate steps should be taken to reinforce and encourage the
continued attention and dedication of members of the Company's management, including the Executive, to their
assigned duties without distraction in the face of potentially disturbing circumstances arising from the possibility of
a Change in Control.
NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained, the Company
and the Executive hereby agree as follows:
1. Defined Terms. The definitions of capitalized terms used in this Agreement are provided in the last Section
hereof.
2. Term of Agreement. Subject to the provisions of Section 14 hereof, the Term of this Agreement shall
commence on the Effective Date and shall continue in effect through the third anniversary of the Effective Date;
provided, however, that on each anniversary of the Effective Date during the Term of this Agreement, the Term
shall automatically be extended for one additional year unless, not later than 90 days prior to any such
anniversary, the Company or the Executive shall have given notice not to extend the Term; and further provided,
however, that if a Change in Control shall have occurred during the Term, the Term shall expire no earlier than
twenty-four (24) mont