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EX-10.1 - SETTLEMENT AGREEMENT WITH MUTUAL GENERAL RELEASES - QUANTUM FUEL SYSTEMS TECHNOLOGIES WORLDWIDE, INC. | rrd305658_34476.htm |
DE
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33-0933072
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(State or other jurisdiction of
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(IRS Employer
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incorporation)
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Identification No.)
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[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
On March 1, 2011, the Company's senior lender demanded payment of $500,000 due under the promissory note referred to in this report and the Company's financial statements as "Term Note B". The Company exercised its contractual right to satisfy the payment demand in shares of its common stock. On March 14, 2011, the Company issued its senior lender 101,274 shares of its common stock in payment of the $500,000 demand amount.
The shares issued by the Company to Mr. Anderson and the Company's senior lender were issued to accredited investors in transactions exempt from Registration pursuant to Section 4(2) of the Securities Act of 1933. The transactions did not involve a public offering, were made without general solicitation or advertising, and there were no underwriting commissions or discounts.
QUANTUM FUEL SYSTEMS TECHNOLOGIES WORLDWIDE, INC.
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Date: March 16, 2011
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By:
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/s/ W. Brian Olson
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W. Brian Olson
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Chief Financial Officer
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Exhibit No.
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Description
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EX-10.1
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Settlement Agreement with Mutual General Releases
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