KANIS S.A. P.O. Box 986 Third Floor Geneva Place Road Town Tortola VG1110 British Virgin IslandsExchange of Notes for Common Stock • September 6th, 2016 • Kanis S.A. • Industrial & commercial fans & blowers & air purifing equip • California
This letter (this “Agreement”) will confirm the agreement of Clean Diesel Technologies, Inc., a Delaware corporation (the “Company”) to an exchange with Kanis S.A. (“Holder”) of an aggregate of $7.5 million in principal amount of promissory notes and other evidences of indebtedness of the Company described on Exhibit A attached hereto (collectively referred to as the “Notes”) currently held by Holder, and all accrued but unpaid interest thereon, for shares of the Company’s common stock, par value $0.01 per share (the “Common Stock”), on the terms set forth herein (the “Exchange”).
