Turtle Beach and Parametric Sound Announce Designation of Independent Members to Be Appointed to Post-Merger Board of Directors

Turtle Beach and Parametric Sound Announce Designation of Independent Members 
to Be Appointed to Post-Merger Board of Directors 
Mr. Bill Keitel and Ms. Laureen DeBuono to Join the Board of the
Combined Company 
VALHALLA, NY and SAN DIEGO, CA -- (Marketwired) -- 12/18/13 -- 
Turtle Beach and Parametric Sound (NASDAQ: PAMT) today announced that
Turtle Beach has designated two independent directors to be appointed
to the board of directors immediately after the closing of the
pending merger of the two companies. Mr. Bill Keitel, who recently
retired as CFO of Qualcomm Incorporated, has been designated as an
appointee to the board and is anticipated to chair the audit
committee. He brings substantial business experience relevant to the
combined company's audio technology licensing activities. Ms. Laureen
DeBuono, currently partner of leading CFO consulting services firm
FLG Partners, LLC, has been designated as an appointee to the board
and is anticipated to chair a newly created compliance and governance
committee. Her health care experience will complement the combined
company's efforts to develop the hearing health market. 
"Bill Keitel and Laureen DeBuono each possess an incredible depth of
knowledge, operational expertise and proven leadership that will
greatly enhance the board's efforts in guiding our company forward
once we close our merger with Parametric Sound," said Ron Doornink,
chairman of Turtle Beach. "These highly qualified independent
directors will significantly contribute to the vision, growth and
success of the combined company," said Ken Potashner, executive
chairman of Parametric Sound. 
Mr. Keitel will bring an exceptional record of leadership, management
expertise and financial acumen to the board. Mr. Keitel's career
spans more than three decades, including over 17 years in sen
ior
finance roles at Qualcomm. During his time at Qualcomm from 1996
until 2013, the company grew revenues from approximately $800 Million
to approximately $25 Billion. For the past 11 years, Mr. Keitel
served as CFO of Qualcomm and also served as chief accounting officer
and executive committee member until he decided to retire earlier
this year. Mr. Keitel joined Qualcomm in 1996 and served as senior
vice president and corporate controller from 1998 to 2002. Prior to
Qualcomm, Mr. Keitel served in senior finance roles at Nortel and
PepsiCo. He holds a B.A. from the University of Wisconsin and an
M.B.A. from Arizona State University. 
Ms. DeBuono is a highly seasoned CEO, COO, CFO and general counsel
with extensive management experience in both public and private
companies. She has been a partner of FLG Partners, LLC since October
2011. Previously, she served as President, CEO and member of the
board of directors of Coapt Systems, Inc., and as Chief Financial
Officer of Thermage, Inc., a medical device company, that she helped
guide through its IPO in 2006. She was also COO & CFO of hearing aid
manufacturer Resound Corp., where she led the sale of the company to
GN Great Nordic. In addition, she served as general counsel of
Nellcor Puritan Bennett, where she led the sale of the company to
Mallinckrodt. Additionally, she was corporate counsel for The Clorox
Company and Varian Associates. Ms. DeBuono currently is a director of
Cadence Pharmaceuticals (NASDAQ: CADX) and previously served as a
member of the board of directors and audit committee chair of two
public companies, VISX, Inc. and InVivo Medical Diagnostics, Inc. She
is a frequent lecturer in Corporate Governance and Mergers &
Acquisitions. Ms. DeBuono received a B.A. from Duke University, an
M.A. from Stanford University and a J.D. from the New York University
School of Law, and is a member of the State Bar of California. 
A special meeting of Parametric stockholders will be held on Friday,
December 27, 2013, to consider and vote on certain matters in
connection with the merger of Parametric and Turtle Beach. Under the
Agreement and Plan of Merger dated August 5, 2013 between Turtle
Beach and Parametric, Turtle Beach has the right to designate five
members of the post-merger, nine-member board of directors which will
also be comprised of two directors to be designated by Parametric and
two vacancies. Turtle Beach anticipates that its five nominees
expected to be appointed to the Parametric board upon closing of the
merger will include Mr. Keitel and Ms. DeBuono along with previously
announced designates Juergen Stark (Turtle Beach CEO), Ronald
Doornink and Kenneth A. Fox (both directors of Turtle Beach). 
About Turtle Beach
 Turtle Beach (http://www.turtlebeach.com) designs
and markets premium audio peripherals for video game, personal
computer, and mobile platforms, including its acclaimed line of Ear
Force gaming headphones and headsets crafted for PC and Mac,
Nintendo, PlayStation and Xbox game consoles, including the
next-generation Xbox One. According to the NPD Group, Turtle Beach
manufactures the top five best-selling third-party gaming headsets of
all time when ranked in dollar sales. The Ear Force X12 wired headset
is the No. 1 best-selling third-party gaming headset of all time. 
Turtle Beach is the official audio provider for Major League Gaming,
the world's largest eSports league, and Twitch, the world's leading
video platform and community for gamers. 
Turtle Beach, headquartered in Valhalla, New York, is a brand of
Voyetra Turtle Beach, Inc., which has been at the forefront of music
and audio technology for more than three decades and is recognized as
a pioneer of today's PC audio industry. 
Turtle Beach and Ear Force are registered trademarks of Voyetra
Turtle Beach, Inc. All other trademarks are property of their
respective holders and are hereby acknowledged. 
About Parametric Sound Corporation
 Parametric Sound Corporation is a
pioneering innovator of directed audio solutions. With a substantial
body of intellectual property, Parametric Sound is the foremost
authority in the application of acoustic technology to beam sound to
target a specific listening area without the ambient noise of
traditional speakers. The Co
mpany is targeting its technology for new
uses in consumer markets including computers, video gaming,
televisions, home audio and health care. For more information, visit
www.parametricsound.com. 
Cautionary note on forward-looking statements
 Certain statements
made in this press release may constitute "forward-looking
statements" under the Private Securities Litigation Reform Act of
1995. Forward-looking statements may include, but are not limited to,
statements regarding assumptions, projections, expectations, targets,
intentions or beliefs about future events including, without
limitation, the composition of the board of directors of Parametric
(and committees thereof) following the proposed merger.
Forward-looking statements by their nature address matters that are,
to different degrees, uncertain. Uncertainties and risks may cause
Parametric's and the combined company's actual results to be
materially different than those expressed in or implied by such
forward-looking statements. Particular uncertainties and risks
include, among others: the failure of the Parametric stockholders to
approve the transaction; the failure of NASDAQ to authorize the
continued listing of Parametric's shares following the transaction;
the failure of either party to meet other conditions to the closing
of the transaction; and delays in completing the transaction and the
risk that the transaction may not be completed at all. More detailed
information on these and additional factors that could affect
Parametric's actual results are described in Parametric's filings
with the Securities and Exchange Commission, including the definitive
proxy statement and the most recent Annual Report on Form 10-K. All
forward-looking statements in this news release speak only as of the
date of this news release and are based on Parametric's current
beliefs and expectations. Parametric undertakes no obligation to
update or revise any forward-looking statement, whether as a result
of new information, future events or otherwise, except as required by
law. 
Important Additional Information for Investors and Stockholders
 This
material is not a substitute for the definitive proxy statement that
Parametric filed with the SEC on December 3, 2013 related to the
proposed merger. Investors and security holders are urged to read the
definitive proxy statement (including any amendments or supplements)
and other documents filed with the SEC carefully in their entirety
because they contain important information about Parametric, Turtle
Beach and the proposed transaction. The definitive proxy statement
was recently sent to the stockholders of Parametric. Investors and
security holders may obtain free copies of the definitive proxy
statement and other relevant documents filed with the SEC by
Parametric at the SEC's web site at www.sec.gov. Free copies of the
definitive proxy statement and other documents filed with the SEC
also can be obtained by directing a request to Parametric, Attention:
Investor Relations, telephone: (888) 477-2150, Extension 509. In
addition, investors and security holders may access copies of the
documents filed with the SEC by Parametric on Parametric's website at
www.parametricsound.com. 
Parametric and its directors and executive officers and other persons
may be deemed to be participants in the solicitation of proxies in
respect of the proposed transaction described in this release.
Information regarding Parametric's directors and executive officers
is available in the definitive proxy statement related to the
proposed merger, which was filed with the SEC on December 3, 2013.
Investors and stockholders can obtain more detailed information
regarding the direct and indirect interests of Parametric's directors
and executive officers in the proposed transaction by reading the
definitive proxy statement (including any amendments or supplements). 
For more information: 
David Lowey
Turtle Beach Public Relations
david.lowey@turtlebeach.com
+1-914-844-2759 
Tracy Neumann
Parametric Sound Corp.
tneumann@parametricsound.com
+1-888-HSS-2150, Ext. 509 
Investor Relations:
Dave Mossberg
Three Part Advisors, LLC
+1-817-310-0051 
 
 
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