Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On October 24, 2008, LogicVision, Inc. (the "Company") entered into a separation agreement with Ron Mabry, its former Vice President, Field Operations and Application Engineering. On October 27, 2008, the Company entered into a similar separation agreement with Bruce Jaffe, its former Vice President, Finance and Chief Financial Officer. Under the separation agreements, Mr. Mabry and Mr. Jaffe will each continue receiving as separation payments their base salary until April 14, 2009 or, if earlier, until commencing new employment. In addition, the Company agreed to pay 75% of the premium payments for coverage under COBRA through April 30, 2009. Mr. Mabry and Mr. Jaffe have agreed to make themselves available for consultation to the Company during the period during which they continue to receive these separation and premium payments.

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