<SEC-DOCUMENT>0001564590-19-023617.txt : 20190626
<SEC-HEADER>0001564590-19-023617.hdr.sgml : 20190626
<ACCEPTANCE-DATETIME>20190626170054
ACCESSION NUMBER:		0001564590-19-023617
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20190622
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20190626
DATE AS OF CHANGE:		20190626

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			IRIDEX CORP
		CENTRAL INDEX KEY:			0001006045
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS [3845]
		IRS NUMBER:				770210467
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1228

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-27598
		FILM NUMBER:		19922264

	BUSINESS ADDRESS:	
		STREET 1:		1212 TERRA BELLA AVE
		CITY:			MOUNTAIN VIEW
		STATE:			CA
		ZIP:			94043
		BUSINESS PHONE:		6509404700

	MAIL ADDRESS:	
		STREET 1:		1212 TERRA BELLA AVENUE
		CITY:			MOUNTAIN VIEW
		STATE:			CA
		ZIP:			94043
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>irix-8k_20190622.htm
<DESCRIPTION>8-K
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<p style="margin-top:0pt;margin-bottom:0pt;text-indent:7.14%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;font-weight:bold;font-size:16pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;text-indent:0%;"><a name="_Hlk11342996"></a>UNITED STATES</p>
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;font-weight:bold;font-size:16pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;text-indent:0%;">SECURITIES AND EXCHANGE COMMISSION</p>
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Washington, D.C. 20549</p>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:18pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><a name="_Toc415208267"></a>FORM 8-K</p>
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">CURRENT REPORT</p>
<p style="text-align:center;margin-top:0pt;border-bottom:Solid 0.75pt;padding-bottom:1pt;margin-bottom:0pt;margin-left:42.86%;margin-right:42.86%;text-indent:0%;font-size:12pt;">&nbsp;</p>
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:11pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">PURSUANT TO SECTION 13 OR 15(d)</p>
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:11pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">OF THE SECURITIES EXCHANGE ACT OF 1934</p>
<p style="text-align:center;margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">June 22, 2019</p>
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">(Date of Report (date of earliest event reported))</p>
<p style="text-align:center;margin-top:0pt;border-bottom:Solid 0.75pt;padding-bottom:1pt;margin-bottom:0pt;margin-left:42.86%;margin-right:42.86%;text-indent:0%;font-size:12pt;">&nbsp;</p>
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:22pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">IRIDEX CORPORATION</p>
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">(Exact name of registrant as specified in its charter)</p>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0-27598</p></td>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">77-0210467</p></td>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:8pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(State or other jurisdiction</p>
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:8pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">of incorporation or organization)</p></td>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:8pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(Commission File Number)</p></td>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:8pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Identification Number)</p></td>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">1212 Terra Bella Avenue</p>
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Mountain View, California 94043</p>
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">(Address of principal executive offices, including zip code)</p>
<p style="text-align:center;margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">(650) 940-4700</p>
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">(Registrant&#8217;s telephone number, including area code)</p>
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;;font-size:10pt;">&nbsp;</p>
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">(Former name or former address, if changed since last report)</p>
<p style="text-align:center;margin-top:0pt;border-bottom:Solid 0.75pt;padding-bottom:1pt;margin-bottom:0pt;margin-left:42.86%;margin-right:42.86%;text-indent:0%;font-size:12pt;">&nbsp;</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):</p>
<p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';"><font style="font-size:10pt;font-family:'Times New Roman'">&#9744;</font><font style="font-family:Times New Roman;margin-left:36pt;">Written communications pursuant to </font><font style="font-family:Times New Roman;">Rule 425 under the Securities Act (17 CFR 230.425)</font></p>
<p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';"><font style="font-size:10pt;font-family:'Times New Roman'">&#9744;</font><font style="font-family:Times New Roman;margin-left:36pt;">S</font><font style="font-family:Times New Roman;">oliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p>
<p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';"><font style="font-size:10pt;font-family:'Times New Roman'">&#9744;</font><font style="font-family:Times New Roman;margin-left:36pt;">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></p>
<p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';"><font style="font-size:10pt;font-family:'Times New Roman'">&#9744;</font><font style="font-family:Times New Roman;margin-left:36pt;">Pre-commencement communications pursuant to Rule 13e-4</font><font style="font-family:Times New Roman;">(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></p>
<p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.86%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;&#8201;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;&#8201;240.12b-2 of this chapter).</p>
<p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.86%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Emerging growth company&#160;<font style="font-size:9pt;font-family:Segoe UI Symbol;">&#9744;</font></p>
<p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.86%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.&#160;<font style="font-size:9pt;font-family:Segoe UI Symbol;">&#9744;</font></p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;;font-size:10pt;">&nbsp;</p>
<p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Securities registered pursuant to Section 12(b) of the Act:</p>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;;font-size:8pt;">&nbsp;</p></td>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Trading</p>
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Symbol</p></td>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;;font-size:8pt;">&nbsp;</p></td>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Name of Exchange on Which Registered</p></td>
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<p style="margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Common Stock, par value $0.01 per share</p></td>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;">&nbsp;</p></td>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">IRIX</p></td>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;">&nbsp;</p></td>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Nasdaq Global Market</p></td>
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<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;;font-size:10pt;">&nbsp;</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;;font-size:10pt;">&nbsp;</p>
<p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
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<p style="margin-top:12pt;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p></td>
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<p style="margin-top:12pt;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:11pt;">-1</a>-</p></td></tr></table></div>
<hr style="page-break-after:always;width:100%;">
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:7.14%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU2"></a>Item 5.02.<font style="font-weight:bold;color:#000000;font-size:10pt;margin-left:36pt;"></font><font style="font-weight:bold;font-size:10pt;">Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers</font><font style="font-weight:bold;color:#000000;font-size:10pt;">.</font><font style="font-weight:bold;color:#000000;font-size:10pt;font-family:Arial;"> </font></p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;">&nbsp;</p>
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<p style="margin-top:0pt;margin-bottom:0pt;font-style:italic;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;text-transform:none;font-variant: normal;"><font style="font-style:italic;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;text-transform:none;font-variant: normal;">(b)</font></p></td>
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<p style="margin-top:0pt;margin-bottom:0pt;font-style:italic;color:#000000;font-weight:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;">Departure of Director</p></td></tr></table></div>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;">&nbsp;</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:7.14%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In a separation agreement dated June 14, 2019, William M. Moore agreed to resign as Director of Iridex Corporation (the &#8220;Company&#8221;), effective as of June 22, 2019. Mr. Moore is not resigning due to any disagreement with the Company on any matter relating to the Company&#8217;s operations, policies or practices.&nbsp;&nbsp;The effective date of the separation agreement was June 22, 2019.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;">&nbsp;</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;color:#000000;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Item 9.01.<font style="font-size:12pt;font-weight:normal;margin-left:36pt;"></font>Financial Statements and Exhibits. </p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;color:#000000;font-size:6pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p>
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<p style="margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;">&nbsp;</p></td>
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<p style="margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;">&nbsp;</p></td>
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<p style="margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(d)</p></td>
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<p style="margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Exhibits </p></td>
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<p style="margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:8pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p></td>
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<p style="margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:8pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p></td>
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<p style="text-align:center;margin-top:0pt;border-bottom:Solid 0.75pt #000000;padding-bottom:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:8pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Exhibit No.</p></td>
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<p style="margin-top:0pt;border-bottom:Solid 0.75pt #000000;padding-bottom:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Description</p></td>
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<p style="margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p></td>
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<p style="margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">10.1</p></td>
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<p style="margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p></td>
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<p style="margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a href="irix-ex101_7.htm"><font style="text-decoration:underline;">Separation Agreement and General Release by and between the Company and William M. Moore dated June 14, 2019.</font></a></p></td>
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<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;;font-size:10pt;">&nbsp;</p>
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;;font-size:10pt;">&nbsp;</p>
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;;font-size:10pt;">&nbsp;</p>
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;;font-size:10pt;">&nbsp;</p>
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;;font-size:10pt;">&nbsp;</p>
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;color:#000000;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">SIGNATURES </p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. </p>
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<p style="margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;text-align:left;">&nbsp;</p></td>
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<p style="margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;color:#000000;font-size:8pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p></td>
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<p style="margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;font-weight:bold;color:#000000;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">IRIDEX CORPORATION</p></td>
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<p style="margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;color:#000000;font-size:1pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p></td>
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<p style="margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">By:</p></td>
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<p style="margin-bottom:1pt;margin-top:0pt;border-bottom:Solid 0.75pt #000000;padding-bottom:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">/s/ David I. Bruce</p></td>
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<p style="margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;color:#000000;font-size:8pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p></td>
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<p style="margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">David I. Bruce</p>
<p style="margin-bottom:1pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">President and Chief Executive Officer</p></td>
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<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Date: June 26, 2019 </p>
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<TYPE>EX-10.1
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<FILENAME>irix-ex101_7.htm
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<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:11pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Exhibit 10.1</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;;font-size:11pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:11pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">SEPARATION AGREEMENT AND GENERAL RELEASE</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;;font-size:11pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">This Separation Agreement and General Release (hereinafter referred to as &#8220;Agreement&#8221;) is made and entered into by and between William M. Moore (hereinafter referred to as &#8220;Executive&#8221;) and Iridex Corporation (hereinafter referred to as &#8220;Iridex&#8221; or &#8220;Company&#8221;).&nbsp;&nbsp;</p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In consideration of the mutual covenants and promises herein contained and other good and valuable consideration, receipt of which is hereby acknowledged, it is hereby agreed by and between the parties as follows:</p>
<p style="text-align:justify;margin-bottom:6pt;margin-top:6pt;text-indent:0%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.<font style="margin-left:36pt;"></font>Definitions:</p>
<p style="text-align:justify;margin-bottom:3pt;margin-top:6pt;text-indent:0%;color:#000000;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">a.<font style="margin-left:36pt;"></font><font style="color:#000000;">&#8220;William M. Moore&#8221; or &#8220;Executive&#8221; as used in this Agreement means William Moore and his heirs, devisees, legatees, executors, administrators, assigns, agents, representatives, businesses, insurers, subrogees, and attorneys, and any other persons or entities acting by, through, under, or in concert with any of the persons or entities listed in this subsection.</font></p>
<p style="text-align:justify;margin-bottom:3pt;margin-top:6pt;text-indent:0%;color:#000000;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">b.<font style="margin-left:36pt;"></font><font style="color:#000000;">&#8220;Company&#8221; or &#8220;Iridex&#8221;</font><font style="font-weight:bold;color:#000000;"> </font><font style="color:#000000;">as used in this Agreement means Iridex, Insperity PEO Services, L.P. and their related companies, predecessors, successors, assigns, businesses, affiliates, subsidiaries, divisions, holding companies, parent companies, partnerships, limited partnerships, partners, and any of their officers, directors, trustees, conservators, employees, agents, contractors, representatives, shareholders, stockholders, owners, heirs, devisees, legatees, executors, administrators, insurers, subrogees, and attorneys, and their heirs, devisees, legatees, executors, administrators, assigns, agents, representatives, businesses, insurers, subrogees, and attorneys, and any other persons or entities acting by, through, under, or in concert with any of the persons or entities listed in this subsection. </font></p>
<p style="text-align:justify;margin-bottom:3pt;margin-top:6pt;text-indent:0%;color:#000000;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">c.<font style="margin-left:36pt;"></font><font style="color:#000000;">&#8220;Termination Date&#8221; as used in this Agreement means May 21, 2019, which is the final date of Executive&#8217;s employment with the Company. </font></p>
<p style="text-align:justify;margin-bottom:3pt;margin-top:6pt;text-indent:0%;color:#000000;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">d.<font style="margin-left:36pt;"></font><font style="color:#000000;">&#8220;Effective Date&#8221; refers to the first day following the expiration of the revocation period set forth in paragraph 9, below, provided Executive does not revoke the Agreement. </font></p>
<p style="text-align:justify;margin-bottom:6pt;margin-top:6pt;text-indent:0%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2.<font style="margin-left:36pt;"></font>In consideration for this Agreement, and provided Executive executes and does not revoke this Agreement, the following consideration shall be provided to Executive:</p>
<p style="text-align:justify;margin-bottom:3pt;margin-top:6pt;text-indent:0%;color:#000000;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">a.<font style="margin-left:36pt;"></font><font style="color:#000000;">The Company shall pay Executive</font><font style="font-weight:bold;color:#000000;"> </font><font style="color:#000000;">severance in</font><font style="font-weight:bold;color:#000000;"> </font><font style="color:#000000;">the gross amount of</font><font style="font-weight:bold;color:#000000;"> </font><font style="color:#000000;">$285,231.00, which is the equivalent of approximately thirty-two weeks of Executive&#8217;s gross annual salary of $463,500.00. </font><font style="font-weight:bold;color:#000000;"> </font><font style="color:#000000;">Such amount shall be paid to Executive in equal installments starting on the Company&#8217;s first regularly scheduled payday that is at least seven calendar days after the Effective Date and then on each payday until the entire amount is paid or through the final payday of 2019, whichever comes first. Amounts the Company is paying in consideration for the Agreement will be treated as taxable compensation but are not intended by either party to be treated, and will not be treated, as compensation for purposes of eligibility or benefits under any benefit plan of the Company.&#160; This amount shall be mailed to Executive&#8217;s last known address on the applicable payment date.&nbsp;&nbsp;Iridex shall issue an IRS Form W2 for the payment of the severance described herein. </font></p>
<p style="text-align:justify;margin-bottom:3pt;margin-top:6pt;text-indent:0%;color:#000000;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">b.<font style="margin-left:36pt;"></font><font style="color:#000000;">Executive acknowledges he has been granted the following Company equity:</font></p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:11pt;">&nbsp;</p>
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<p style="text-align:center;margin-bottom:3pt;margin-top:3pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Restricted Stock Units</p></td>
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<p style="text-align:center;margin-bottom:3pt;margin-top:3pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Grant Date</p></td>
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<p style="text-align:center;margin-bottom:3pt;margin-top:3pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Vesting Commence Date</p></td>
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<p style="text-align:center;margin-bottom:3pt;margin-top:3pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Vested</p></td>
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<p style="text-align:center;margin-bottom:3pt;margin-top:3pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Unvested</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">15,000</p></td>
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<p style="margin-bottom:0pt;text-align:justify;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">July 24, 2017</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">July 24, 2017</p></td>
<td valign="middle"  style="padding-left:5.4pt;padding-Right:5.4pt;padding-Top:0pt;padding-Bottom:0pt; border-bottom:solid 1pt #000000; border-right:solid 1pt #000000;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">6,250</p></td>
<td valign="middle"  style="padding-left:5.4pt;padding-Right:5.4pt;padding-Top:0pt;padding-Bottom:0pt; border-bottom:solid 1pt #000000; border-right:solid 1pt #000000;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">8,437</p></td>
</tr>
<tr style="height:2pt;">
<td valign="middle"  style="padding-left:5.4pt;padding-Right:5.4pt;padding-Top:0pt;padding-Bottom:0pt; border-bottom:solid 1pt #000000; border-left:solid 1pt #000000; border-right:solid 1pt #000000;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">40,000</p></td>
<td valign="middle"  style="padding-left:5.4pt;padding-Right:5.4pt;padding-Top:0pt;padding-Bottom:0pt; border-bottom:solid 1pt #000000; border-right:solid 1pt #000000;">
<p style="margin-bottom:0pt;text-align:justify;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">July 28, 2018</p></td>
<td valign="top"  style="padding-left:5.4pt;padding-Right:5.4pt;padding-Top:0pt;padding-Bottom:0pt; border-bottom:solid 1pt #000000; border-right:solid 1pt #000000;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">July 28, 2018</p></td>
<td valign="middle"  style="padding-left:5.4pt;padding-Right:5.4pt;padding-Top:0pt;padding-Bottom:0pt; border-bottom:solid 1pt #000000; border-right:solid 1pt #000000;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0</p></td>
<td valign="middle"  style="padding-left:5.4pt;padding-Right:5.4pt;padding-Top:0pt;padding-Bottom:0pt; border-bottom:solid 1pt #000000; border-right:solid 1pt #000000;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">40,000</p></td>
</tr>
<tr>
<td valign="middle"  style="padding-left:5.4pt;padding-Right:5.4pt;padding-Top:0pt;padding-Bottom:0pt; border-bottom:solid 1pt #000000; border-left:solid 1pt #000000; border-right:solid 1pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;">&nbsp;</p></td>
<td valign="middle"  style="padding-left:5.4pt;padding-Right:5.4pt;padding-Top:0pt;padding-Bottom:0pt; border-bottom:solid 1pt #000000; border-right:solid 1pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;">&nbsp;</p></td>
<td valign="top"  style="padding-left:5.4pt;padding-Right:5.4pt;padding-Top:0pt;padding-Bottom:0pt; border-bottom:solid 1pt #000000; border-right:solid 1pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;">&nbsp;</p></td>
<td valign="middle"  style="padding-left:5.4pt;padding-Right:5.4pt;padding-Top:0pt;padding-Bottom:0pt; border-bottom:solid 1pt #000000; border-right:solid 1pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;">&nbsp;</p></td>
<td valign="middle"  style="padding-left:5.4pt;padding-Right:5.4pt;padding-Top:0pt;padding-Bottom:0pt; border-bottom:solid 1pt #000000; border-right:solid 1pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;">&nbsp;</p></td>
</tr></table></div>
<hr style="page-break-after:always;width:100%;">
<div align="left">
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:99.79%;">
<tr>
<td style="width:22.38%;"></td>
<td style="width:20%;"></td>
<td style="width:17.76%;"></td>
<td style="width:19.57%;"></td>
<td style="width:20.07%;"></td>
</tr>
<tr>
<td valign="middle"  style="padding-left:5.4pt;padding-Right:5.4pt;padding-Top:0pt;padding-Bottom:0pt; border-bottom:solid 1pt #000000;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;">&nbsp;</p></td>
<td valign="top"  style="padding-left:5.4pt;padding-Right:5.4pt;padding-Top:0pt;padding-Bottom:0pt; border-bottom:solid 1pt #000000;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;">&nbsp;</p></td>
<td valign="top"  style="padding-left:5.4pt;padding-Right:5.4pt;padding-Top:0pt;padding-Bottom:0pt; border-bottom:solid 1pt #000000;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;">&nbsp;</p></td>
<td valign="middle"  style="padding-left:5.4pt;padding-Right:5.4pt;padding-Top:0pt;padding-Bottom:0pt; border-bottom:solid 1pt #000000;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;">&nbsp;</p></td>
<td valign="middle"  style="padding-left:5.4pt;padding-Right:5.4pt;padding-Top:0pt;padding-Bottom:0pt; border-bottom:solid 1pt #000000;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;">&nbsp;</p></td>
</tr>
<tr>
<td valign="middle"  style="padding-left:5.4pt;padding-Right:5.4pt;padding-Top:0pt;padding-Bottom:0pt; border-bottom:solid 1pt #000000; border-left:solid 1pt #000000; border-right:solid 1pt #000000;">
<p style="text-align:center;margin-bottom:3pt;margin-top:3pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Options</p></td>
<td valign="middle"  style="padding-left:5.4pt;padding-Right:5.4pt;padding-Top:0pt;padding-Bottom:0pt; border-bottom:solid 1pt #000000; border-right:solid 1pt #000000;">
<p style="text-align:center;margin-bottom:3pt;margin-top:3pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Grant Date</p></td>
<td valign="middle"  style="padding-left:5.4pt;padding-Right:5.4pt;padding-Top:0pt;padding-Bottom:0pt; border-bottom:solid 1pt #000000; border-right:solid 1pt #000000;">
<p style="text-align:center;margin-bottom:3pt;margin-top:3pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Vesting Commence Date</p></td>
<td valign="middle"  style="padding-left:5.4pt;padding-Right:5.4pt;padding-Top:0pt;padding-Bottom:0pt; border-bottom:solid 1pt #000000; border-right:solid 1pt #000000;">
<p style="text-align:center;margin-bottom:3pt;margin-top:3pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Vested</p></td>
<td valign="middle"  style="padding-left:5.4pt;padding-Right:5.4pt;padding-Top:0pt;padding-Bottom:0pt; border-bottom:solid 1pt #000000; border-right:solid 1pt #000000;">
<p style="text-align:center;margin-bottom:3pt;margin-top:3pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Unvested</p></td>
</tr>
<tr>
<td valign="middle"  style="padding-left:5.4pt;padding-Right:5.4pt;padding-Top:0pt;padding-Bottom:0pt; border-bottom:solid 1pt #000000; border-left:solid 1pt #000000; border-right:solid 1pt #000000;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">157,000</p></td>
<td valign="top"  style="padding-left:5.4pt;padding-Right:5.4pt;padding-Top:0pt;padding-Bottom:0pt; border-bottom:solid 1pt #000000; border-right:solid 1pt #000000;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">July 24, 2017</p></td>
<td valign="top"  style="padding-left:5.4pt;padding-Right:5.4pt;padding-Top:0pt;padding-Bottom:0pt; border-bottom:solid 1pt #000000; border-right:solid 1pt #000000;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">July 24, 2017</p></td>
<td valign="middle"  style="padding-left:5.4pt;padding-Right:5.4pt;padding-Top:0pt;padding-Bottom:0pt; border-bottom:solid 1pt #000000; border-right:solid 1pt #000000;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">137,000</p></td>
<td valign="middle"  style="padding-left:5.4pt;padding-Right:5.4pt;padding-Top:0pt;padding-Bottom:0pt; border-bottom:solid 1pt #000000; border-right:solid 1pt #000000;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">20,000</p></td>
</tr>
</table></div>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:16pt;font-family:Times New Roman;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:99.79%;">
<tr>
<td style="width:22.52%;"></td>
<td style="width:19.97%;"></td>
<td style="width:17.75%;"></td>
<td style="width:19.51%;"></td>
<td style="width:20.04%;"></td>
</tr>
<tr>
<td valign="middle"  style="padding-left:5.4pt;padding-Right:5.4pt;padding-Top:0pt;padding-Bottom:0pt; border-top:solid 1pt #000000; border-bottom:solid 1pt #000000; border-left:solid 1pt #000000; border-right:solid 1pt #000000;">
<p style="text-align:center;margin-bottom:3pt;margin-top:3pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Performance-Based Restricted Stock Unit</p></td>
<td valign="middle"  style="padding-left:5.4pt;padding-Right:5.4pt;padding-Top:0pt;padding-Bottom:0pt; border-top:solid 1pt #000000; border-bottom:solid 1pt #000000; border-right:solid 1pt #000000;">
<p style="text-align:center;margin-bottom:3pt;margin-top:3pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Grant Date</p></td>
<td valign="middle"  style="padding-left:5.4pt;padding-Right:5.4pt;padding-Top:0pt;padding-Bottom:0pt; border-top:solid 1pt #000000; border-bottom:solid 1pt #000000; border-right:solid 1pt #000000;">
<p style="text-align:center;margin-bottom:3pt;margin-top:3pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Vesting Commence Date</p></td>
<td valign="middle"  style="padding-left:5.4pt;padding-Right:5.4pt;padding-Top:0pt;padding-Bottom:0pt; border-top:solid 1pt #000000; border-bottom:solid 1pt #000000; border-right:solid 1pt #000000;">
<p style="text-align:center;margin-bottom:3pt;margin-top:3pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Vested</p></td>
<td valign="middle"  style="padding-left:5.4pt;padding-Right:5.4pt;padding-Top:0pt;padding-Bottom:0pt; border-top:solid 1pt #000000; border-bottom:solid 1pt #000000; border-right:solid 1pt #000000;">
<p style="text-align:center;margin-bottom:3pt;margin-top:3pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Unvested</p></td>
</tr>
<tr>
<td valign="middle"  style="padding-left:5.4pt;padding-Right:5.4pt;padding-Top:0pt;padding-Bottom:0pt; border-bottom:solid 1pt #000000; border-left:solid 1pt #000000; border-right:solid 1pt #000000;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">50,000</p></td>
<td valign="top"  style="padding-left:5.4pt;padding-Right:5.4pt;padding-Top:0pt;padding-Bottom:0pt; border-bottom:solid 1pt #000000; border-right:solid 1pt #000000;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2015</p></td>
<td valign="top"  style="padding-left:5.4pt;padding-Right:5.4pt;padding-Top:0pt;padding-Bottom:0pt; border-bottom:solid 1pt #000000; border-right:solid 1pt #000000;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2015</p></td>
<td valign="middle"  style="padding-left:5.4pt;padding-Right:5.4pt;padding-Top:0pt;padding-Bottom:0pt; border-bottom:solid 1pt #000000; border-right:solid 1pt #000000;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0</p></td>
<td valign="middle"  style="padding-left:5.4pt;padding-Right:5.4pt;padding-Top:0pt;padding-Bottom:0pt; border-bottom:solid 1pt #000000; border-right:solid 1pt #000000;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">50,000</p></td>
</tr>
<tr>
<td valign="middle"  style="padding-left:5.4pt;padding-Right:5.4pt;padding-Top:0pt;padding-Bottom:0pt; border-bottom:solid 1pt #000000; border-left:solid 1pt #000000; border-right:solid 1pt #000000;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">50,000</p></td>
<td valign="top"  style="padding-left:5.4pt;padding-Right:5.4pt;padding-Top:0pt;padding-Bottom:0pt; border-bottom:solid 1pt #000000; border-right:solid 1pt #000000;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">March 1, 2016</p></td>
<td valign="top"  style="padding-left:5.4pt;padding-Right:5.4pt;padding-Top:0pt;padding-Bottom:0pt; border-bottom:solid 1pt #000000; border-right:solid 1pt #000000;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">March 1, 2016</p></td>
<td valign="middle"  style="padding-left:5.4pt;padding-Right:5.4pt;padding-Top:0pt;padding-Bottom:0pt; border-bottom:solid 1pt #000000; border-right:solid 1pt #000000;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">37,500</p></td>
<td valign="middle"  style="padding-left:5.4pt;padding-Right:5.4pt;padding-Top:0pt;padding-Bottom:0pt; border-bottom:solid 1pt #000000; border-right:solid 1pt #000000;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">12,500</p></td>
</tr>
<tr>
<td valign="middle"  style="padding-left:5.4pt;padding-Right:5.4pt;padding-Top:0pt;padding-Bottom:0pt; border-bottom:solid 1pt #000000; border-left:solid 1pt #000000; border-right:solid 1pt #000000;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">60,000</p></td>
<td valign="top"  style="padding-left:5.4pt;padding-Right:5.4pt;padding-Top:0pt;padding-Bottom:0pt; border-bottom:solid 1pt #000000; border-right:solid 1pt #000000;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">July 28, 2018</p></td>
<td valign="top"  style="padding-left:5.4pt;padding-Right:5.4pt;padding-Top:0pt;padding-Bottom:0pt; border-bottom:solid 1pt #000000; border-right:solid 1pt #000000;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">July 28, 2018</p></td>
<td valign="middle"  style="padding-left:5.4pt;padding-Right:5.4pt;padding-Top:0pt;padding-Bottom:0pt; border-bottom:solid 1pt #000000; border-right:solid 1pt #000000;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0</p></td>
<td valign="middle"  style="padding-left:5.4pt;padding-Right:5.4pt;padding-Top:0pt;padding-Bottom:0pt; border-bottom:solid 1pt #000000; border-right:solid 1pt #000000;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">60,000</p></td>
</tr>
</table></div>
<p style="text-align:justify;margin-bottom:3pt;margin-top:6pt;margin-left:7.69%;text-indent:0%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Executive further acknowledges that the Restricted Stock Units, Performance Stock Units and Options identified above (collectively the &#8220;Company Equity&#8221;) are the only restricted stock units, stock option grants or other equity awards granted to Executive by the Company under the Company&#8217;s Amended and Restated 2008 Equity Incentive Plan (&#8220;Equity Plan&#8221;) or otherwise. /s/ <font style="text-decoration:underline;">W.M.</font> (<font style="font-style:italic;">Executive Initials)</font> </p>
<p style="text-align:justify;margin-bottom:3pt;margin-top:6pt;margin-left:7.69%;text-indent:0%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Pursuant to the applicable grant documents, the Equity Plan and the discretion afforded the Equity Plan Administrator thereunder, the Company shall cause the unvested portions of the Company Equity to accelerate as follows:</p>
<p style="text-align:justify;margin-bottom:3pt;margin-top:6pt;margin-left:15.38%;text-indent:0%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(1).<font style="margin-left:36pt;"></font>100% of the remaining 12,500 unvested Performance-based Restricted Stock Unit Award granted on March 1, 2016, shall accelerate and fully vest as of the Effective Date.</p>
<p style="text-align:justify;margin-bottom:3pt;margin-top:6pt;margin-left:15.38%;text-indent:0%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(2).<font style="margin-left:36pt;"></font>100% of the remaining 8,437 unvested Restricted Stock Units granted on July 24, 2017, shall accelerate and fully vest as of the Effective Date. </p>
<p style="text-align:justify;margin-bottom:3pt;margin-top:6pt;margin-left:15.38%;text-indent:0%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(3).<font style="margin-left:36pt;"></font>75% of the remaining unvested 40,000 Restricted Stock Units granted July 28, 2018, (30,000 Restricted Stock Units) shall accelerate and fully vest as of the Effective Date. </p>
<p style="text-align:justify;margin-bottom:3pt;margin-top:6pt;margin-left:15.38%;text-indent:0%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(4).<font style="margin-left:36pt;"></font>33,890 Performance-Based Restricted Stock Units. </p>
<p style="text-align:justify;margin-bottom:3pt;margin-top:6pt;margin-left:15.38%;text-indent:0%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(5).<font style="margin-left:36pt;"></font>100% of the unvested options to purchase 20,000 of the Company&#8217;s common stock shall accelerate and fully vest as of the Effective Date. </p>
<p style="text-align:justify;margin-bottom:3pt;margin-top:6pt;margin-left:7.69%;text-indent:0%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">All remaining unvested Company Equity units shall be forfeited by the Executive in accordance with the terms of the Equity Plan.&#160; All vested Company Equity shall remain subject to the applicable grant agreements and the terms of the Equity Plan. </p>
<p style="text-align:justify;margin-bottom:3pt;margin-top:6pt;text-indent:0%;color:#000000;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">b.<font style="margin-left:36pt;"></font><font style="color:#000000;">Iridex shall pay Executive the lump sum amount of $18,480.00, which is approximately equivalent to 12 months of Executive&#8217;s estimated COBRA premiums.&nbsp;&nbsp;Iridex will report the payment on a Form 1099, and Employee agrees that he shall be responsible for any and all taxes, levies or amounts as set forth in Paragraph 3, below.&nbsp;&nbsp;Executive will be provided with information regarding Executive&#8217;s right to continue Executive&#8217;s health insurance coverage pursuant to the Consolidated Omnibus Reconciliation Act (&#8220;COBRA&#8221;) and must make a timely election in order to continue such coverage.&nbsp;&nbsp;Executive further understands that in order to receive the COBRA coverage, Executive is fully responsible for complying with all of the requirements for COBRA coverage, and that Executive&#8217;s failure to comply with the COBRA requirements will result in the discontinuation of Executive&#8217;s coverage.&nbsp;&nbsp;Executive understands and agrees that Iridex is not responsible for deciding or granting Executive&#8217;s eligibility for COBRA continuation and releases Iridex from any liability if Executive is found not to be eligible for COBRA continuation coverage.&nbsp;&nbsp;Executive acknowledges that Iridex has met all of its obligations under COBRA or any similar laws, regulations or ordinances.&nbsp;&nbsp;</font></p>
<p style="text-align:justify;margin-bottom:3pt;margin-top:6pt;text-indent:0%;color:#000000;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU2"></a>c.<font style="margin-left:36pt;"></font><font style="color:#000000;">Executive agrees that the foregoing shall constitute an accord and satisfaction and a full and </font></p>
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<p style="text-align:justify;margin-bottom:3pt;margin-top:6pt;color:#000000;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="color:#000000;">complete settlement of Executive&#8217;s claims, shall constitute the entire amount of monetary consideration provided to Executive under this Agreement, and that Executive will not seek any further compensation, including but not limited to compensation for any other claimed damage, costs or attorneys' fees in connection with the matters encompassed in this Agreement.</font></p>
<p style="margin-bottom:0pt;text-align:justify;margin-top:6pt;text-indent:0%;font-style:italic;font-size:11pt;font-family:Times New Roman;font-weight:normal;text-transform:none;font-variant: normal;">3.<font style="margin-left:36pt;"></font><font style="font-style:normal;">Executive represents that he has conferred with his tax advisors regarding the applicable tax treatment and consequences arising out of any amounts received by Executive pursuant to this Agreement and/or pursuant to the acceleration of the Company Equity as set forth in Section 2b. above. Executive acknowledges and agrees that the Company has made no representations to Executive regarding the tax consequences of any amounts received by Executive pursuant to this Agreement.&nbsp;&nbsp;Executive shall be solely responsible for the payment of any federal, state, or local taxes arising out of the payment of monies arising out of this Agreement.&nbsp;&nbsp;Executive agrees to hold the Company harmless from any and all claims, demands, rights, damages, costs or expenses resulting from any liability or claim of liability for any amount assessed by or due any federal, state, or local government or agency thereof, including but not limited to, federal, state, and local withholding and income taxes and social security taxes, with respect to payments made by the Company to Executive as set forth in this Agreement. </font><font style="text-decoration:underline;font-style:normal;">/s/ W. M.</font><font style="font-style:normal;"> (</font>Executive Initials)</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:53.85%;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">To the extent applicable, this Agreement is intended to comply with Internal Revenue Code Section&#160;409A and shall be administered and construed in a manner consistent with this intent. In furtherance of the foregoing, notwithstanding anything herein to the contrary, if Executive is a &#8220;specified employee&#8221; (determined by the Company in accordance with U.S. Treasury Regulation section 1.409A-3(i)(2)) as of the date that Executive incurs a &#8220;separation from service&#8221; (as defined in U.S. Treasury Regulation section 1.409A-1(h)) and if any benefit to be provided under this Agreement cannot be paid or provided in a manner otherwise provided herein without subjecting Executive to additional tax, interest and/or penalties under Section&#160;409A, then any such benefit that is payable during the first six (6) months following Executive&#8217;s &#8220;separation from service&#8221; shall be paid to Executive in a cash lump payment to be made on the earlier of (a)&#160;Executive&#8217;s death or (b)&#160;the first day of the seventh month following Executive&#8217;s &#8220;separation from service&#8221;. However, nothing contained in this Agreement shall be construed as a representation, guarantee or other undertaking on the part of the Company that this Agreement is, or will be found to be exempt from or compliant with the requirements of Section 409A.&nbsp;&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_lnxbz9"></a><a name="_DV_M66"></a>Each payment and benefit payable under this Agreement is intended to constitute a separate payment and the right to a series of installment payments under this Agreement shall be treated as a right to a series of separate payments.<a name="_lnxbz9"></a><a name="_DV_M66"></a>&nbsp;&nbsp;In no event shall any payment or benefit under this Agreement that is subject to Section 409A be subject to offset by any other amount unless otherwise permitted by Section 409A.&nbsp;&nbsp;To the extent required to avoid penalty taxes under Section 409A, if any applicable release consideration period (as applicable) spans calendar years, the severance payment contemplated thereunder will be paid in the latter calendar year, regardless of when the release is executed.</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:11pt;"><a name="_DV_M67"></a>&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_35nkun2"></a><a name="_DV_M68"></a>If and to the extent that reimbursements or other in-kind benefits under this Agreement constitute &#8220;nonqualified deferred compensation&#8221; for purposes of Section 409A, (A) all such expenses or other reimbursements hereunder shall be made on or prior to the last day of the taxable year following the taxable year in which such expenses were incurred, (B) any right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit, (C) the amount of expenses eligible for reimbursement, or the in-kind benefits provided, during any taxable year will not affect the expenses eligible for reimbursement, or the in-kind benefits to be provided, in any other taxable year, and (D) any reimbursement shall be for expenses incurred during the period of time specified in this Agreement. </p>
<p style="text-align:justify;margin-bottom:6pt;margin-top:6pt;text-indent:0%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.<font style="margin-left:36pt;"></font>Executive shall resign his position on the Company&#8217;s Board of Directors effective upon the Effective Date, and his position on the Board shall be deemed vacated on the Effective Date.</p>
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<p style="text-align:justify;margin-bottom:6pt;margin-top:6pt;text-indent:0%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU3"></a><font style="font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">5.</font><font style="margin-left:36pt;"></font><font style="font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Executive</font><font style="font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> acknowledges (i) receipt of all compensation</font><font style="font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">, including but not limited to short term and long term incentive compensation, bonuses, wages, and any compensation of any type,</font><font style="font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> and benefits due through the Termination Date as a result of services performed for the Company with the receipt of a final paycheck except as provided in this Agreement; (ii) </font><font style="font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Executive</font><font style="font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> has reported to the Company any and all work-related injuries incurred during employment; (iii) the Company properly provided any leave of absence because of </font><font style="font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Executive</font><font style="font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8217;s or a family member&#8217;s health condition and </font><font style="font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Executive</font><font style="font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> has not been subjected to any improper treatment, conduct or actions due to a request for or taking such leave; (iv) </font><font style="font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Executive</font><font style="font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> has had the opportunity to provide the Company with written notice of any and all concerns regarding suspected ethical and compliance issues or violations on the part of the Company or any other Released Parties</font><font style="font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">, defined below in paragraph 7</font><font style="font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">; (v) </font><font style="font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Executive</font><font style="font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> has reported any pending judicial or administrative complaints, claims, or actions filed against the Company or any other Released Parties; and (vi) </font><font style="font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Executive</font><font style="font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> has not raised a claim of sexual harassment or abuse with the </font><font style="font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Company.</font></p>
<p style="text-align:justify;margin-bottom:6pt;margin-top:6pt;text-indent:0%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">6.<font style="margin-left:36pt;"></font>Executive represents that Executive has not and will not file (or ask or allow anyone to file on Executive&#8217;s behalf), any charge, complaint, claim or lawsuit of any kind in connection with any claim released by this Agreement.&nbsp;&nbsp;This provision shall not apply, however, to any non-waivable charges or claims brought before any governmental agency.&nbsp;&nbsp;With respect to any such non-waivable claims, Executive agrees to waive Executive&#8217;s right (if any) to any monetary or other recovery should any governmental agency or other third party pursue any claims on Executive&#8217;s behalf, either individually, or as part of any collective action.&nbsp;&nbsp;Nothing herein shall preclude Executive from making any claims for workers&#8217; compensation benefits, unemployment benefits, or any other claims that cannot be waived by private agreement under applicable laws.&nbsp;&nbsp;</p>
<p style="text-align:justify;margin-bottom:6pt;margin-top:6pt;text-indent:0%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">7.<font style="margin-left:36pt;"></font>Executive hereby KNOWINGLY AND VOLUNTARILY RELEASES, ACQUITS AND FOREVER DISCHARGES the Company, its and their current and former subsidiaries, divisions, and affiliates, and its and their officers, agents, directors, supervisors, employees, representatives, successors and assigns, and all persons acting by, through, under, or in concert with any of them (collectively the &#8220;Released Parties&#8221;) from any and all charges, complaints, claims, causes of action, debts, demands, sums of money, attorneys&#8217; fees and costs, controversies, agreements, promises, damages and liabilities of any kind or nature whatsoever, both at law and equity, known or unknown, suspected or unsuspected, anticipated or unanticipated (hereinafter referred to as "claim" or "claims"), arising from conduct occurring on or before the date of this Agreement, including without limitation any claims incidental to or arising out of Executive&#8217;s employment with the Company or the termination thereof.&nbsp;&nbsp;It is expressly understood by Executive that among the various rights and claims being waived in this release are those arising under the Title VII of the Civil Rights Act of 1964, the Equal Pay Act of 1963, the Americans With Disabilities Act, the Older Workers Benefit Protection Act (&#8220;OWBPA&#8221;), the Age Discrimination in Employment Act (&#8220;ADEA&#8221;), the Civil Rights Act of 1991, the California Fair Employment and Housing Act, the California Family Rights Act, the California Labor Code, the Ralph Civil Rights Act, the Tom Bane Civil Rights Act, the federal and California Worker Adjustment and Retraining Notification Act, or any other federal, state or local law or regulation, except as specified herein.&nbsp;&nbsp;This provision is intended by the parties to be all encompassing and to act as a full and total release of any claim, whether specifically enumerated herein or not, that Executive might have or has had, that exists or ever has existed on or before the date of this Agreement, which legally may be released by private agreement and are not excluded herein.</p>
<p style="text-align:justify;margin-bottom:6pt;margin-top:6pt;text-indent:0%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">8.<font style="margin-left:36pt;"></font>Executive is releasing all rights under section 1542 of the California Civil Code.&nbsp;&nbsp;Section 1542 provides as follows: </p>
<p style="text-align:justify;margin-bottom:3pt;margin-top:6pt;margin-left:16.3%;text-indent:0%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected his or her settlement with the debtor.</p>
<p style="text-align:justify;margin-bottom:6pt;margin-top:6pt;text-indent:0%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">9.<font style="margin-left:36pt;"></font>Executive acknowledges that:</p>
<p style="text-align:justify;margin-bottom:3pt;margin-top:6pt;text-indent:0%;color:#000000;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU4"></a>a.<font style="margin-left:36pt;"></font><font style="color:#000000;">Executive has read this Release, and understands its legal and binding effect.  Executive is acting </font></p>
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<p style="text-align:justify;margin-bottom:3pt;margin-top:6pt;color:#000000;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="color:#000000;">voluntarily, deliberately, and of </font><font style="color:#000000;">Executive&#8217;s o</font><font style="color:#000000;">wn free will in executing this Release, an</font><font style="color:#000000;">d has</font><font style="color:#000000;"> been provided with all information needed to make an informed decision to sign this Release and given an opportunity to ask questions </font><font style="color:#000000;">Executive</font><font style="color:#000000;"> m</font><font style="color:#000000;">ay</font><font style="color:#000000;"> have about this Release.</font></p>
<p style="text-align:justify;margin-bottom:3pt;margin-top:6pt;text-indent:0%;color:#000000;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">b.<font style="margin-left:36pt;"></font><font style="color:#000000;">Executive has had the opportunity to seek, and is advised in writing to seek, legal counsel prior to signing this Release.</font></p>
<p style="text-align:justify;margin-bottom:3pt;margin-top:6pt;text-indent:0%;color:#000000;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">c.<font style="margin-left:36pt;"></font><font style="color:#000000;">Executive has been given at least 21 days from the date Executive received this Release and any attached information to consider the terms of this Release before signing it (&#8220;Consideration Period&#8221;).&nbsp;&nbsp;In the event Executive chooses to sign this Release prior to the expiration of the Consideration Period, Executive represents Executive knowingly and voluntarily waiving the remainder of the Consideration Period.&nbsp;&nbsp;</font></p>
<p style="text-align:justify;margin-bottom:3pt;margin-top:6pt;text-indent:0%;color:#000000;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">d.<font style="margin-left:36pt;"></font><font style="color:#000000;">Executive understand that if Executive signs this Release, Executive can change Executive&#8217;s mind and revoke it within seven days after signing it (&#8220;Revocation Period&#8221;) by returning it with written revocation notice to Stacie Rodgers, Vice President Human Resources, 1212 Terra Bella Avenue, Mountain View, CA 94043, email Srodgers@Iridex.com.&nbsp;&nbsp;Executive understands this Release will not be effective until after this Revocation Period has expired, and Executive will not be entitled to receive any benefits until after the Release becomes effective.&nbsp;&nbsp;If the revocation period expires on a weekend or holiday, Executive understands Executive has until the end of the next business day to revoke.</font></p>
<p style="text-align:justify;margin-bottom:3pt;margin-top:6pt;margin-left:7.69%;text-indent:0%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Although Executive is releasing claims Executive may have under the OWBPA and the ADEA, Executive understands Executive may challenge the knowing and voluntary nature of this Release under the OWBPA and the ADEA before a court, the Equal Employment Opportunity Commission (&#8220;EEOC&#8221;), or any other federal, state or local agency that has jurisdiction to consider such claims. </p>
<p style="text-align:justify;margin-bottom:3pt;margin-top:6pt;text-indent:0%;color:#000000;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">e.<font style="margin-left:36pt;"></font><font style="color:#000000;">Executive and the Company agree that changes, whether material or immaterial, do not restart the running of the Consideration Period.</font></p>
<p style="text-align:justify;margin-bottom:6pt;margin-top:6pt;text-indent:0%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">10.<font style="margin-left:36pt;"></font>Executive acknowledges that Executive&#8217;s employment by Iridex created a relationship of trust between Executive and the Company with respect to any information of a confidential or secret nature of which Executive became aware during the period of Executive&#8217;s employment and which (i) relates to the business of the Company, or to the business of any customer, licensor or supplier of the Company; or (ii) is processed by the Company and has been created, discovered or developed by, or has otherwise become known to the Company, that has commercial value to the business in which the Company is engaged and is not generally known to the public.&nbsp;&nbsp;All said information is hereinafter called &#8220;proprietary information.&#8221;&nbsp;&nbsp;By way of illustration, and not in limitation, proprietary information includes trade secrets, processes, computer programs, data, know how, strategies, forecasts, customer lists, pricing, testing methods and results, clinical trial data, product designs, product performance data, policies, operational procedures, staffing, billing and collection practices, and contract provisions and philosophies.&nbsp;&nbsp;At all times Executive will keep in confidence and trust all such proprietary information and will not use or disclose any such proprietary information or anything relating to it without the written consent of the Company.&nbsp;&nbsp;Executive hereby agrees that all proprietary information is and shall be and remain the sole and exclusive property of the Company and its assigns.&nbsp;&nbsp;Executive acknowledges and agrees that Executive has delivered to the Company, on or before the Termination Date, all documents, data and proprietary information of any nature pertaining to the Company or its affiliated companies, and all other Company property such as office equipment, computers, cell phones, and security badges, as well as all copies or excerpts of any property, files or documents obtained as a result of employment with the Company, except those items that the Company specifically agrees in writing to permit Executive to retain, and further agrees Executive will not take from the Company or its affiliated companies any documents or data of any description or any reproduction containing or pertaining to any proprietary information nor disclose, distribute, copy or utilize same.</p>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU5"></a><font style="font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Following the termination of Executive&#8217;s employment with the Company for any reason, Executive shall not, directly or indirectly, use or disclose the Company&#8217;s proprietary information to solicit, induce, or attempt to solicit or induce, any person or entity then known to be a customer or client of the Company (a &#8220;Restricted Customer/Client&#8221;), to terminate his, her or its relationship with the Company for any purpose or no purpose; provided, however, this section 2 seeks to protect the Company&#8217;s proprietary information and to prohibit Executive from disclosing or using proprietary Information.&nbsp;&nbsp;Accordingly, if, during Executive&#8217;s employment, Executive never learned nor was exposed to Proprietary Information or Trade Secrets regarding, among other things, the identification of such customers/clients or customer/client contact information, pricing information, business development information, trade secrets, sales and marketing plan information, financial information or other Proprietary Information or Trade Secrets, Executive shall not be restrained from such solicitation or attempted solicitation but Executive shall not use Proprietary Information or Trade Secrets during or in connection with any such solicitation, nor shall Executive interfere with the Company&#8217;s contractual or prospective economic relationships with any customer or client through unlawful means</font><font style="font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.</font></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:6pt;margin-top:6pt;text-indent:0%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">11.<font style="margin-left:36pt;"></font>Executive agrees to cooperate with the Released Parties regarding any pending or subsequently filed litigation, claims or other disputes involving the Released Parties that relate to matters within the knowledge or responsibility of Executive.&nbsp;&nbsp;Without limiting the foregoing, Executive agrees (i) to meet with a Released Party&#8217;s representatives, its counsel or other designees at mutually convenient times and places with respect to any items within the scope of this provision; (ii) to provide truthful testimony regarding same to any court, agency, or other adjudicatory body; and (iii) to provide the Company with notice of contact by any non-governmental adverse party or such adverse party&#8217;s representative, except as may be required by law.&nbsp;&nbsp;Executive further agrees to cooperate with the Company after the Effective Date to provide information and support as reasonably requested by Iridex&#8217;s Chief Executive Officer or Board of Directors during the period he continues to receive payments under the terms of this Agreement, not to exceed cumulative total of 30 hours through December 31, 2019.&nbsp;&nbsp;The Company will reimburse Executive for reasonable expenses incurred in connection with the cooperation described in this paragraph, but Executive shall not be entitled to additional compensation for his service during the time he is receiving payments under this Agreement, which Executive and the Company agree are more than sufficient to compensate his for any such cooperation, and the parties further agree that said agreement to cooperate does not create a contract of employment or guarantee or promise that the Company will seek or use his cooperative services after the termination date.</p>
<p style="text-align:justify;margin-bottom:6pt;margin-top:6pt;text-indent:0%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">12.<font style="margin-left:36pt;"></font>Executive also agrees to refrain from communicating any disparaging, derogatory, libelous or scandalous statements to any third party regarding the Company.&nbsp;&nbsp;Executive further agrees that Executive will not represent to any person or entity that Executive is an agent or employee of the Company, or has any authority to bind the Company.&nbsp;&nbsp;Executive will direct potential third-party(ies) to contact the Human Resources Department if they require information regarding Executive. &#160;Should any third-party contact Human Resources regarding Executive, the department shall only disclose Executive's dates of employment and positions held, unless additional information is authorized in writing by Executive prior to disclosure.&nbsp;&nbsp;The Company agrees to instruct the current members of Iridex&#8217;s Board of Directors to refrain from communicating any disparaging, derogatory, libelous or scandalous statements to any third party regarding Executive. This provision is not intended to and does not limit these individuals' right or ability to disagree with any business-related proposal, suggestion or idea, or any portion thereof, Executive may have made while employed by the Company, and does not limit these individuals' ability to comply with any duty, fiduciary or otherwise, that they owe the Company, its shareholders, employees or any other person or entity.</p>
<p style="text-align:justify;margin-bottom:6pt;margin-top:6pt;text-indent:0%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU6"></a>13.<font style="margin-left:36pt;"></font>This Agreement and compliance with this Agreement shall not be construed as an admission by the Company of any liability whatsoever, or as admission by the Company of any violation of the rights of Executive, violation of any order, law, statute, duty or contract whatsoever.&nbsp;&nbsp;The Company specifically </p>
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<p style="text-align:justify;margin-bottom:6pt;margin-top:6pt;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">disclaims any liability to Executive for any alleged violation of the rights of Executive, or for any alleged violation of any order, law, statute, duty or contract on the part of the Company, or its employees or agents.</font></p>
<p style="text-align:justify;margin-bottom:6pt;margin-top:6pt;text-indent:0%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">14.<font style="margin-left:36pt;"></font>This Agreement is intended to settle and release any and all claims for attorneys&#8217; fees.&nbsp;&nbsp;This settlement is based upon a good faith determination of the parties to resolve a disputed claim.&nbsp;&nbsp;The parties have not shifted responsibility of medical treatment to Medicare in contravention of 42 U.S.C. &#167;1395y(b). The parties resolved this matter in compliance with both state and federal law.&nbsp;&nbsp;The parties made every effort to adequately protect Medicare&#8217;s interest and incorporate such into settlement terms.&nbsp;&nbsp;</p>
<p style="text-align:justify;margin-bottom:6pt;margin-top:6pt;text-indent:0%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">15.<font style="margin-left:36pt;"></font>Executive waives any future association, employment, contractual relationship, or any other relationship of any kind with the Company as defined above in paragraph 1(b) and agrees not to apply to the Company for any future employment.</p>
<p style="text-align:justify;margin-bottom:6pt;margin-top:6pt;text-indent:0%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">16.<font style="margin-left:36pt;"></font>The parties hereto represent and acknowledge that in executing this Agreement they do not rely and have not relied upon any representation or statement made by any of the parties or by any of the parties' agents, attorneys or representatives with regard to the subject matter or effect of this Agreement or otherwise, other than those specifically stated in this written Agreement.</p>
<p style="text-align:justify;margin-bottom:6pt;margin-top:6pt;text-indent:0%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">17.<font style="margin-left:36pt;"></font>This Agreement shall be binding upon the parties hereto and upon their heirs, administrators, representatives, executors, successors, and assigns, and shall inure to the benefit of said parties and each of them and to their heirs, administrators, representatives, executors, successors, and assigns.&nbsp;&nbsp;Executive expressly warrants that Executive has not transferred to any person or entity any rights or causes of action, or claims released by this Agreement.</p>
<p style="text-align:justify;margin-bottom:6pt;margin-top:6pt;text-indent:0%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">18.<font style="margin-left:36pt;"></font>The Parties agree that should any part of this Agreement be found to be void or unenforceable by a court of competent jurisdiction, that determination will not affect the remainder of the Agreement.</p>
<p style="text-align:justify;margin-bottom:6pt;margin-top:6pt;text-indent:0%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">19.<font style="margin-left:36pt;"></font>With the exception of any agreement with the Company pertaining to proprietary, trade secret or other confidential information and/or the ownership of inventions, all of which shall remain in full force and effect and are unaffected by this Agreement, this Agreement sets forth the entire agreement between the parties hereto and fully supersedes any and all prior agreements and understandings, written or oral, between the parties hereto pertaining to the subject matter hereof.&nbsp;&nbsp;This Agreement may only be amended or modified by a writing signed by the parties hereto.&nbsp;&nbsp;Any waiver of any provision of this Agreement shall not constitute a waiver of any other provision of this Agreement unless expressly so indicated otherwise in a writing signed by the parties.</p>
<p style="text-align:justify;margin-bottom:6pt;margin-top:6pt;text-indent:0%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">20.<font style="margin-left:36pt;"></font>This Agreement shall be interpreted in accordance with the plain meaning of its terms and not strictly for or against any of the parties hereto.</p>
<p style="text-align:justify;margin-bottom:6pt;margin-top:6pt;text-indent:0%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">21.<font style="margin-left:36pt;"></font>The Parties agree that this Agreement may be used as evidence in a subsequent proceeding in which any of the parties allege a breach of this Agreement or as a complete defense to any lawsuit brought by any party.&nbsp;&nbsp;Other than this exception, the parties agree that this Agreement will not be introduced as evidence in any proceeding or in any lawsuit.</p>
<p style="text-align:justify;margin-bottom:6pt;margin-top:6pt;text-indent:0%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">22.<font style="margin-left:36pt;"></font>This Agreement may be executed in counterparts and each counterpart, when executed, shall have the efficacy of a second original.&nbsp;&nbsp;Photographic or facsimile copies of any such signed counterparts may be used in lieu of the original for any said purpose.</p>
<p style="text-align:justify;margin-bottom:6pt;margin-top:6pt;text-indent:0%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">23.<font style="margin-left:36pt;"></font>This Agreement is made and shall be enforced as provided under the laws of the State of California.</p>
<p style="text-align:justify;margin-bottom:6pt;margin-top:6pt;text-indent:0%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU7"></a>24.<font style="margin-left:36pt;"></font>Nothing in this Agreement is intended to waive claims that may arise after Executive signs this Agreement or which cannot be released by private agreement.&nbsp;&nbsp;In addition, nothing in this Agreement, including but not limited to the indemnification, release of claims, confidentiality, non-disparagement, and covenant not to sue provisions, (w) shall be construed to prevent the disclosure of factual information related to any acts of sexual assault, sexual harassment, workplace harassment or discrimination based on sex, failure to prevent an act of workplace harassment or discrimination based on sex, or act of retaliation against a person for reporting harassment or discrimination based on sex, or waives Executive&#8217;s right to </p>
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<p style="text-align:justify;margin-bottom:6pt;margin-top:6pt;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">testify in an administrative, legislative, or judicial proceeding concerning alleged criminal conduct or alleged sexual harassment on the part of the Company, or on the part of the agents or employees of the Company, when </font><font style="font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Executive</font><font style="font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> has been required or requested to attend such a proceeding pursuant to a court order, subpoena, or written request from an administrative agency or the legislature, (x) limits or affects </font><font style="font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Executive</font><font style="font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8217;s right to challenge the validity of this Agreement under the ADEA or the OWBPA, (y) prevents </font><font style="font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Executive</font><font style="font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> from communicating with, filing a charge or complaint with, or from participating in an investigation or proceeding conducted by the </font><font style="font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">EEOC</font><font style="font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">, National Labor Relations Board, the Securities and Exchange Commission, or any other any federal, state or local agency charged with the enforcement of any laws, including providing documents or any other information, or (z) limits </font><font style="font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Executive</font><font style="font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> from exercising rights under Section 7 of the </font><font style="font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">National Labor Relations Act</font><font style="font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> to engage in protected, concerted activity with other employees, although by signing this Agreement </font><font style="font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Executive</font><font style="font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> is waiving rights to individual relief (including backpay, frontpay, reinstatement or other legal or equitable relief) in any charge, complaint, or lawsuit or other proceeding brought by </font><font style="font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Executive</font><font style="font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> or on </font><font style="font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Executive</font><font style="font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8217;s behalf by any third party, except for any right </font><font style="font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Executive</font><font style="font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> may have to receive a payment or an award from a government agency (and not the Company) for information provided to the government agency&nbsp;&nbsp;or otherwise where prohibited.</font></p>
<p style="text-align:justify;margin-bottom:6pt;margin-top:6pt;text-indent:0%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Notwithstanding the confidentiality and non-disclosure obligations in this Agreement and otherwise, Executive understands that as provided by the Federal Defend Trade Secrets Act, Executive will not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret made: (1) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney, and solely for the purpose of reporting or investigating a suspected violation of law; or (2) in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:15.38%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In Witness Whereof, the parties hereto have executed this Separation Agreement and General Release as of the date upon which the last party to sign this Agreement does so, as set forth below. </p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:11pt;">&nbsp;</p>
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<p style="margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:11pt;">&nbsp;</p></td></tr></table></div>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Executive</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">By:  <font style="text-decoration:underline;">/s/ Reudiger Naumann-Etienne</font></p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reudiger Naumann-Etienne</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lead Independent Board Member</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Dated: 6/14/2019</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">/s/ William M. Moore</font></p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">William M. Moore</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Dated: 6/14/2019</p></td>
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