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Separation And Release Agr - Kalani

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Exhibit 10.13.1

SEPARATION AND LEASE AGREEMENT



I, Kalani Jones ('Employee," "me" or "I"), understand that my position with American Technology Corporation (the "Company") was terminated effective October 17, 2005 (the "Separation Date"). The Company has agreed that in exchange for my signature on this Agreement and the promises and covenants herein, the Company will pay me severance in the amount of $82,500.00 (Eighty-Two Thousand Five Hundred Dollars and No Cents). This payment will be made within five (5) business days after the expiration of the revocation period described below, and will be subject to standard withholdings and deductions. The Company will also pay on my behalf the premiums for continuing health benefits under COBRA, until the earlier to occur of my being eligible for health care coverage through my next employer, or February 28, 2006. The Company will also agree to extend until February 15, 2006 the period of time for which the vested portion (as of the Separation Date) of all Company stock options I hold may be exercised. I understand that as a result of these extensions, those stock options designated as incentive stock options (as defined under Section 422(b) of the Internal Revenue Code) will no longer be treated as such, and will be treated instead as non-statutory stock options. I understand that I am not entitled to the above-described severance benefits unless I sign and do not revoke this Agreement. I understand and agree that in addition to these severance benefits, the Company has paid me all of my accrued salary and vacation, to which I am entitled by law.



In exchange for the consideration provided to me by this Agreement that I am not otherwise entitled to receive, I hereby unconditionally and completely release the Company and its directors, officers, employees, shareholders, partners, agents, attorneys, predecessors, successors, parent and subsidiary entities, insurers, affiliates, and assigns from any and all claims, liabilities and obligations, both known and unknown, that arise out of or are in any way related to events, acts, conduct, or omissions occurring prior to my signing this Agreement. This general release includes, but is not limited to: (1) all claims arising out of or in any way related to my employment with the Company or the termination of that employment; (2) all claims related to my compensation or benefits from the Company, including salary, bonuses, commissions, vacation pay, expense reimbursements, severance pay, fringe benefits, stock, stock options, or any other ownership interests in the Company; (3) all claims for breach of contract, wrongful termination, and breach of the implied covenant of good faith and fair dealing; (4) all tort claims, including claims for fraud, defamation, emotional distress, and discharge in violation of public policy; and (5)
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