RELEASERelease • November 14th, 2008 • Spacedev, Inc. • Guided missiles & space vehicles & parts • Colorado
This Release (hereinafter “Release”) is made and given by and between (i) Scott Tibbitts (the “Shareholder Agent”), as (A) the Shareholder Agent designated pursuant to Section 7.5 of the Agreement and Plan of Merger and Reorganization dated October 24, 2005, as subsequently amended, among Starsys Research Corporation, a Colorado corporation, Monoceros Acquisition Corp., a Colorado corporation, SpaceDev, Inc., a Colorado corporation, the Shareholder Agent as a Key Shareholder, and the Shareholder Agent as such Shareholder Agent (the “Merger Agreement”), acting as the agent for and with binding effect upon all of the Shareholders, and also (B) to the extent expressly indicated in this Release, in his personal capacity, and (ii) SpaceDev, Inc., a Delaware corporation (hereinafter “SpaceDev”). The following terms not otherwise defined in this Release shall have the meanings given to them in the Merger Agreement: “Key Shareholder,” “Performance Consideration,” “Shareholders” and “Accounting
