SETTLEMENT AGREEMENTSettlement Agreement • April 16th, 2002 • Forward Industries Inc • Plastics products, nec • New York
Settlement Agreement, dated April 11, 2002 (this "Agreement"), by and between Robert S. Ellin, an individual residing at 350 East 79th Street, Apt. 38A, New York, NY 10021 ("Ellin"), Nancy J. Ellin, an individual residing at 350 East 79th Street, Apt. 38A, New York, NY 10021 ("Nancy Ellin"), Atlantis Equities, Inc., a New York corporation ("Atlantis"), Robert Ellin Family 1997 Trust, a trust formed under the laws of the State of New York (the "Trust"), Robert Ellin Profit Sharing Plan, an employee benefit plan formed under the laws of the United States (the "Plan", and together with Ellin, Nancy Ellin, Atlantis and the "Trust", the "Ellin Group"), and Forward Industries, Inc., a New York corporation (the "Company").
ContractStandstill Agreement • April 16th, 2002 • Forward Industries Inc • Plastics products, nec • New York
STANDSTILL AGREEMENT ("Agreement") entered into as of April 11, 2002 by and between Robert S. Ellin, an individual residing at 350 East 79th Street, Apt. 38A, New York, NY 10021 ("Ellin"), Nancy J. Ellin, an individual residing at 350 East 79th Street, Apt. 38A, New York, NY 10021 ("Nancy Ellin"), Atlantis Equities, Inc., a New York corporation ("Atlantis"), Robert Ellin Family 1997 Trust, a trust formed under the laws of the State of New York (the "Trust"), Robert Ellin Profit Sharing Plan, an employee benefit plan formed under the laws of the United States (the "Plan", and together with Ellin, Nancy Ellin, Atlantis and the "Trust", the "Ellin Group"), and Forward Industries, Inc., a New York corporation (the "Company"). and Forward Industries, Inc., a New York corporation, with offices at 1801 Green Road, Pompano Beach, FL 33064 (the "Company").
ATLANTIS EQUITIES, INC. 750 LEXINGTON AVENUE, 23rd FLOOR NEW YORK, NEW YORK 10022 TEL: (212) 755-8612 FAX: (212) 750-6667 April 11, 2002Forward Industries Inc • April 16th, 2002 • Plastics products, nec
As discussed, the purpose of this letter is to confirm our understanding with respect to the introduction by Atlantis Equities, Inc., a New York corporation ("Atlantis"), to Forward Industries, Inc., a New York corporation (the "Company"), of a company called for purposes of this letter XYZ Corp. ("XYZ") for the purpose of the Company's consideration of a proposed financial transaction, which may be in the form of an acquisition or business combination involving XYZ (the "Transaction"). XYZ has authorized Atlantis to make such introduction for the purposes stated herein.
