Immersion Announces Employment Inducement Awards

Mon Nov 17, 4:20 PM

SAN JOSE, Calif.--(BUSINESS WIRE)--Immersion Corporation (NASDAQ: IMMR), the leading developer and licensor of touch feedback technology (http://www.immersion.com/corporate/), today announced that the Company granted stock options under the Immersion Corporation 2008 Employment Inducement Award Plan approved by the Compensation Committee of the Company effective April 30, 2008.

Under the Plan, the Company may issue awards in the form of stock options, stock appreciation rights, restricted stock purchase rights, restricted stock bonuses, restricted stock units, performance shares, performance units, deferred compensation awards, and other cash and stock awards. Such awards may be granted to employees who, prior to the offer of an award as an inducement to become an employee, were (i) neither employees nor directors or (ii) former employees or directors whose period of service was followed by a bona-fide period of non-employment.

On November 14, 2008, the Company issued the following awards:

Type of Award   Effective
Date of Grant 		  Total Shares   Fair Market
Value Per Share

(Grant Price)

  Number of Participants
Common Stock
Option 		Nov. 14, 2008 7,900 $3.74

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About Immersion (www.immersion.com)

Founded in 1993, Immersion Corporation is the recognized leader in developing, licensing, and marketing digital touch technology and products. Using Immersion’s advanced touch feedback technology (http://www.immersion.com/corporate), electronic user interfaces are more compelling, entertaining, and in many applications, safer and more productive. Immersion’s technology has helped manufacturers develop innovative and creative solutions for products such as hundreds of video games and leading video console gaming systems, medical training simulators installed around the world, driver controls for automotive manufacturers, and mobile phones, such as those from LG and Samsung. Immersion’s patent portfolio includes over 700 issued or pending patents in the U.S. and other countries.

Immersion and the Immersion logo are trademarks of Immersion Corporation in the United States and other countries. All other trademarks are the property of their respective owners.

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