Mutual Separation and Release Agreement, dated May 25, 2023, by and between Immersion Corporation and Aaron Akerman

Exhibit 10.2

MUTUAL SEPARATION AND RELEASE AGREEMENT

(the “Company”)

(“Mr. Akerman”)

(collectively, the “Parties”)

WHEREAS Mr. Akerman commenced employment with the Company as Chief Financial Officer (“CFO”) on or about December 2, 2019;

WHEREAS the Parties have mutually agreed to sever their employment relationship effective August 11, 2023 (the “Separation Date”);

WHEREAS the Parties have agreed that this Agreement also resolves all existing disputes or potential claims related to the hiring, the employment and the cessation of the employment of Mr. Akerman;

WHEREAS Mr. Akerman hereby declares that he is not aware of any act or omission to act on his part that could potentially give rise to any liability or claim for damages against the Company;

WHEREAS Mr. Akerman hereby declares that he has not in any capacity whatsoever, engaged with, provided services for, or otherwise worked for or with, and that he is not currently engaged with, providing services for or otherwise working for or with anyone or any entity other than the Company, and that he will continue to work exclusively for the Company during the entire Working Period, as defined below, it being understood that the foregoing excludes any services with regard to charitable or community service organizations, where such services do not, individually or in the aggregate, interfere with Mr. Akerman’s duties and responsibilities as CFO of the Company or his obligations hereunder, or create a potential conflict of interest;

WHEREAS the Parties have also mutually agreed on the terms and conditions of Mr. Akerman’s continued employment until the Separation Date and the severance of their employment relationship as set forth in the present Mutual Separation and Release Agreement (hereinafter, the “Agreement”);

AND WHEREAS the Parties have mutually agreed to complete this Agreement without any admission of liability whatsoever;

NOW, THEREFORE, in consideration of the foregoing, the Parties have agreed on the following:

Without limiting the generality of the foregoing, Mr. Akerman agrees that for the full duration of the Working Period, he shall be available and accessible to the Company at all times during the Company's normal business hours, namely from Monday to Friday, between the hours of 9 a.m. to 5 p.m., except when Mr. Akerman is on authorized vacation pursuant to this Agreement. In any instance where Mr. Akerman anticipates being unavailable or inaccessible during the Company's normal business hours due to non-work related circumstances, he shall immediately notify the Company by contacting Eric Singer, CEO, or whomever he designates.

During this Working Period, unless his employment is terminated in accordance with Section 7, Mr. Akerman will: i) receive a base salary (based on the full annualized rate of $335,000); ii) participate in the group insurance benefit plans of the Company in effect from time to time, in accordance with, and subject to the terms of the formal plan documents; and iii) his Stock Options and Performance-Based Restricted Stock Units (“PSUs”) will continue to vest and be exercisable in accordance with the terms of the applicable award documentation, agreements and plans. For avoidance of doubt and notwithstanding any other provision of the applicable award documentation, agreements or plans, 2,916 of Mr. Akerman’s currently unvested Stock Options will vest on June 13, 2023 and again on July 13, 2023, and 1,875 of his currently unvested PSUs will vest on August 10, 2023, unless his employment is terminated before such vesting dates in accordance with Section 7.

For greater certainty, it is understood and agreed that should the Company put Mr. Akerman on garden leave or cease to require his services (other than in accordance with Section 7) prior to the end of the Working Period, this will not be considered a “Termination” and Mr. Akerman will still be considered to be actively employed and to be actively providing services to the Company until the end of the Working Period for the purposes of this Agreement, and also for purposes of Mr. Akerman’s continued vesting of Stock Options and PSUs and the exercise of his Stock Options. As such, it is acknowledged and agreed, more particularly, that Mr. Akerman will have three (3) months from the Separation Date to exercise any Stock Options that are vested as of that date.

Mr. Akerman will not be required to mitigate the amount of any payment contemplated by this Agreement, nor shall any such payment be reduced by any earnings that Mr. Akerman may receive from any other source.

Conditional on the full payment of the payments (including the Payments) owed and payable to him and the Company’s compliance with its obligations in accordance with this Agreement, Mr. Akerman, on behalf of himself, his descendants, dependents, executors, administrators and successors agrees and, by this Agreement, hereby waives, generally releases and fully discharges the Released Parties, from any and all claims, actions, causes of action, complaints or any other liability without limitation, no matter how denominated, labeled or pleaded, known or unknown, arising out of, concerning or relating in any way to Mr. Akerman’s employment with the Company or termination thereof, including, but not limited to (i) wrongful dismissal, wages, commissions, restricted stock units, benefits, reasonable notice of termination or indemnity in lieu thereof or breach of contract; (ii) claims and damages for prohibited practices, harassment or discrimination; and (iii) claims under the Act respecting Labour Standards, the Charter of Human Rights and Freedoms, the Act respecting Industrial Accidents and Occupational Diseases, the Civil Code of Quebec and under any other employment-related legislation of a pecuniary nature or any other nature whatsoever.

Mr. Akerman further represents and warrants that he has not filed, and subject to the Company's compliance with its obligations under this Agreement, he covenants that he will not, file any claims, complaints or actions of any kind against the Released Parties with any administrative, provincial or federal entity, court or tribunal. Mr. Akerman also represents and warrants that he has no knowledge or reason to believe that anyone else has filed such a claim, charge, complaint or cause of action on his behalf. In addition, Mr. Akerman hereby expressly renounces, without limitation, to ever being reinstated in any position or title with the Company and hereby declares that the Company has made no representations in this regard.

Notwithstanding the foregoing or any other provision of this Agreement, it is understood and agreed that Mr. Akerman does not renounce, and he shall conserve, his right to be indemnified by the Company or its insurers in accordance with the terms of the Company’s constating documents or D&O insurance policies, as the case may be, in respect of any third party claims made against Mr. Akerman by reason of acts performed by him in the course of his employment, the whole subject to the terms and conditions thereof and applicable law.

Moreover, Mr. Akerman hereby recognizes not having been subject to any form of harassment (including psychological or sexual harassment) or any other discriminatory or prohibited practice in the context of his hiring and employment with the Company up to the date of this Agreement, and having no known workplace injuries and occupational diseases.

The Company will use its best efforts to ensure that its senior management employees and Board members do not at any time, directly or indirectly, make any comments, oral or written, including without limitation on social media, which are intended to or may have the effect of disparaging, criticizing, discrediting, damaging or attacking the reputation, business or personal interests or conduct of Mr. Akerman.

IN WITNESS WHEREOF, the Parties have signed: