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AGREEMENT AND RELEASE OF ALL CLAIMS
Separation Agreement and Release of All Claims ("Agreement") is made between Stereotaxis, Inc., including
its divisions, subsidiaries, parent and affiliated corporations, successors and assigns (individually and collectively, "Stereotaxis")
and Kevin M. Barry ("Employee") (hereinafter collectively referred to as "the Parties").
Employee was employed by the Stereotaxis on November 5, 2018; and
Employee was employed by Stereotaxis as Chief Legal Officer, Chief Compliance Officer & Secretary; and
Stereotaxis and Employee mutually desire to sever the employment relationship between them in a manner mutually beneficial to
Employee's employment with Stereotaxis was terminated effective April 15, 2020, ("Separation Date").
This Agreement shall be effective as of the eighth day following the date on which it is executed by Employee without Employee
having exercised his/her revocation right described below (the "Effective Date"). This Agreement must
be executed and returned to Alli Ewen by May 20, 2020 to become effective. Stereotaxis and Employee agree that nothing contained
in this Agreement is an admission by any party hereto of any wrongdoing, either in violation of an applicable law or otherwise,
and that nothing in this Agreement is to be construed as such by any person.
THEREFORE, in consideration of the following terms and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, Employee and Stereotaxis, Inc. agree as follows:
| 1. | Separation Date . Employee's employment with Stereotaxis terminated effective April 15, 2020 (" Separation Date "). It is furthermore agreed that, Employee has resigned as board member of Stereotaxis International B.V. as per the 15th day of April 2020. |
| 2. | Consideration . In full consideration for Employee's Release of All Claims pursuant to Section 3 of this Agreement and Employee's execution of this Agreement, the sufficiency of which is acknowledged by Employee, the Parties agree as follows: |
| (a) | Acceleration of Vesting. Notwithstanding anything in any stock plan or award agreement to the contrary, Employee's award(s) under any Stereotaxis stock plan (including without limitation awards of stock options) shall become fully vested. Specifically, all outstanding unvested options of the 30,000 options granted on November 5, 2018, and all outstanding unvested options of the 10,000 options granted on March 3, 2019 will become fully vested and exercisable as of the Effective Date of this Agreement. | |
| (b) | Insurance Benefit . Employee can exercise Employee's COBRA conversion privileges as provided by law, effective on the Separation Date, for the group medical, dental, and vision insurance coverage Employee was provided during employment with Stereotaxis. Employee has sixty (60) days to elect COBRA coverage. |
Employee timely elects COBRA, Stereotaxis will pay a portion of the cost under COBRA for continuing Employee's group medical,
dental, and vision insurance (the portion shall match the premium split as it was when Employee was actively employed) from April
16, 2020 through October 15, 2020. Thereafter, Employee shall be responsible to pay the full cost to continue Employee's
group medical, dental, and vision insurance under COBRA.
Employee does not elect COBRA, Employee's group medical, dental, and insurance coverage will cease as of 11:59 P.M. on April
| (c) | Unemployment. Provided that Employee has not violated the terms of this Agreement, Stereotaxis agrees not to protest Employee's request for unemployment benefits. | |
| (d) | Outplacement. Stereotaxis will compensate up to, but not more than $750 in outplacement services (firm of Employee's choice). The invoice should be billed to Stereotaxis directly no later than 6 months from the Separation Date. |
as specifically stated herein, Employee shall not accrue any benefits after the Termination Date, and no other amounts (other
than any vested benefits accrued by Employee under any qualified retirement plan maintained by Stereotaxis), are due Employee
by Stereotaxis. Employee acknowledges, understands, and agrees that he/she is entitled to no other compensation or benefits, including
but not limited to any type of bonus or incentive compensation.
acknowledges, understands, and agrees that the consideration described in Section 2 of this Agreement, and provided to Employee
in exchange for Employee's execution of this Agreement, is not otherwise required by law or by any employment contract,
practice or policy, and that by providing such consideration, Stereotaxis does not admit that it had any obligation to make such
Agreement is not an admission by Stereotaxis of any violation of any obligation or any federal, state or local statute, law, or
ordinance, and any alleged violation or admission of violation is hereby specifically denied by Stereotaxis. The existence and
execution of this Agreement shall not be considered, and shall not be admissible in any proceeding, as an admission by Stereotaxis
or anyone released hereby, of any liability, error, violation or omission.
Release of All Claims by Employee includes, but is not limited to, any and all claims under Title VII of the Civil Rights Act
of 1964 (as amended), the Civil Rights Act of 1866, the Age Discrimination in Employment Act, the Family and Medical Leave Act,
the Fair Labor Standards Act, 42 USC 1981, et seq., the Americans with Disabilities Act, the Employee Retirement
Income Security Act of 1974 (ERISA), the Older Workers Benefit Protection Act, the Genetic Information Non-Discrimination Act,
the Missouri Human Rights Act, the Missouri Employment Security laws, wage claims, the Missouri Workers' Compensation Act,
the Missouri public policy exception to the at-will employment doctrine, the Missouri Whistleblower's Protection Act, the
Missouri Service Letter Statute, any and all other Missouri wage and benefit payment laws, and any and all other federal, state
and local statutes, regulations, ordinances, executive orders, policies, common law or any contract, alleged policy, manual or
breach of any implied covenant of good faith and fair dealing.
Agreement shall not limit, in any way, Employee's right to file a charge or participate in an investigation or proceeding
conducted by the Equal Employment Opportunity Commission or any other federal, state, or local administrative agency on Employee's
behalf arising out of or related to employment with and/or separation from employment with Stereotaxis, and Employee agrees that
he/she has waived any right to monetary or other recovery from any such claim.
further agrees that neither Employee nor any person, organization or any other entity acting on Employee's behalf has filed
or will file, claim or sue, or cause or permit to be filed, any complaint, claim or grievance against Stereotaxis or any of the
Released Parties at any time hereafter involving any matter occurring in the past up to the date of execution of this Agreement,
and agrees that he/she will indemnify and hold Stereotaxis and/or any of the Released Parties harmless and pay their attorneys'
fees in the vent they are caused to defend such a complaint, claim or grievance which he/she night file or cause to be filed or
remain on file. Employee further agrees that if any such complaint, claim or grievance is filed, Stereotaxis' obligation
to make the payments and benefits referred to in Section 2 herein shall terminate immediately upon the occurrence of any such
filing, claim or grievance, and Employee shall (i) repay to Stereotaxis any and all money paid pursuant to this Agreement; (ii)
pay any and all costs or expenses incurred by Stereotaxis, including reasonable attorneys' fees, in defending against any
such filing, claim or grievance; and (iii) pay any and all other damages awarded by a court of competent jurisdiction.
further explicitly waives all required notices under any state or federal WARN act, all rights to any future employment opportunities
with Stereotaxis or the Released Parties and agrees not to apply for employment with Stereotaxis or the Released Parties. If Employee
applies for employment with Stereotaxis or the Released Parties despite the obligations under this paragraph, then Employee shall
have no claim or cause of action against Stereotaxis or the Released Parties if they do not hire him/her and/or hired either any
other person or no one instead of him/her.
in this Agreement shall be construed to mean that Employee is waiving or releasing claims to enforce this Agreement, claims for
workers' compensation benefits, claims for unemployment benefits, claims for any vested benefits owed to Employee, claims
for any vested rights Employee may have under any retirement plan of Stereotaxis, claims for rights under COBRA or claims arising
after the date Employee executes this Agreement.
understands and agrees that this Release of All Claims contained in Section 3 applies to and includes all known, suspected, unknown
or unsuspected claims, consequences or results. Employee acknowledges and agrees that he/she has received any and all wages, benefits,
or other compensation due him/her for work performed, including any overtime and/or premium compensation.
represents and warrants that, to the best of Employee's knowledge, Employee possesses no federal or state leave claims,
Fair Labor Standards Act claims, or workers' compensation claims against Stereotaxis or the Released Parties. Employee further
represents and warrants that Employee has received any and all compensation pursuant to state and federal wage and hour laws and
any and all leave pursuant to the Family and Medical Leave Act or any other federal or state law to which Employee may have been
entitled as an employee of Stereotaxis, and that Employee is not currently aware of any facts or circumstances constituting a
violation of any federal or state leave laws, the Fair Labor Standards Act, or of any workers' compensation statutes.
also expressly acknowledges that this Agreement shall not reduce continuing obligations under Missouri law and/or under any policy
Employee either was and/or remains subject to pursuant to Employee's employment with Stereotaxis. Employee promises Employee
has returned all of Stereotaxis' property in Employee's possession to Stereotaxis. If Employee in the future discovers
Employee still has Stereotaxis property in Employee's possession, Employee shall return it immediately.
agrees that his/her use or disclosure of any such confidential/proprietary information and/or trade secrets may cause serious,
irreparable harm to Stereotaxis and that any remedy at law that Stereotaxis may have for breach of this Agreement could be inadequate.
Therefore, in addition to any other remedies Stereotaxis may have under this Agreement, at law or in equity, Stereotaxis may seek
injunctive relief (without bond) in the event Employee breaches or threatens to breach this Agreement and/or reveal any such confidential/proprietary
information and/or trade secrets. No remedy conferred by any of the specific provisions of this Agreement is intended to be exclusive
of any other remedy. The election of any one or more remedies shall not constitute a waiver of the right to pursue other available
Non-solicitation. Employee agrees that while employed by the Company and for one year after the employment terminates for any
reason, and regardless of how or why Employee's termination occurs, Employee shall not, directly or indirectly (whether
individually or as owner, partner, consultant, employee or otherwise):
engage in, assist or have an interest in, enter the employment of, or act as an agent, advisor or consultant for, any person or
entity that then is or intends to be in competition with the Company with respect to Stereotaxis Business. A person or entity
will be deemed "in competition" if it is involved in research, development, manufacture, supplying or sale of a product,
process, apparatus, service or development which is competitive with a product, process, apparatus, service or development on
which Employee worked, or with respect to which Employee has or had access to Confidential Information during or as a result of
the Employee's employment.
solicit, divert, or take away, or attempt to solicit, divert or take away from the Company the business of any customers for the
purpose of selling or providing to such customer any product or service which is included in the Stereotaxis Business as defined
knowingly to cause or attempt to cause any customer, vendor, or other third party collaborating with the Company to terminate
or reduce its existing relationship with the Company;
knowingly solicit, induce, or hire, or attempt to solicit, induce, or hire, any employee, consultant, or distributor of the Company
to leave the employ of the Company and/or to work for any competitor of the Company."