Exhibit 10.3 SETTLEMENT AGREEMENT AND RELEASE -------------------------------- This Settlement Agreement and Release (the "Agreement") is dated as of March 24, 2006 and is made by and between ALPHA CAPITAL AKTIENGESELLSCHAFT, WHALEHAVEN CAPITAL FUND...Settlement Agreement • April 4th, 2006 • US Energy Initiatives CORP • Motor vehicle parts & accessories • New York
Exhibit 10.2 SECURITY AGREEMENT SECURITY AGREEMENT (this "Agreement"), dated as of March 23, 2006, by and among Hybrid Fuel Systems, Inc., a George corporation ("Company"), and Dutchess Private Equities Fund, LP, a Delaware Limited partnership, as the...Security Agreement • April 4th, 2006 • US Energy Initiatives CORP • Motor vehicle parts & accessories • Massachusetts
