SETTLEMENT AND RELEASE AGREEMENTSecurity Agreement • April 1st, 2010 • Irvine Sensors Corp/De/ • Semiconductors & related devices • California
This Settlement and Release Agreement (“Agreement”) is made and entered into as of the latest date set forth below opposite the signatures of the parties hereto by Timothy Looney (“Looney”), Barbara Looney and TWL Group, L.P. (“TWL”), (collectively, the “Looney Affiliates”), on the one hand, and Irvine Sensors Corporation, a Delaware Corporation (“ISC”), John C. Carson (“Carson”) and John J. Stuart, Jr. (“Stuart”) (collectively, the “ISC Affiliates”), on the other hand. The Looney Affiliates and ISC Affiliates are collectively referred to as the “Parties.”
