SETTLEMENT AGREEMENT AND GENERAL RELEASESettlement Agreement and General Release • May 15th, 2013 • World Surveillance Group Inc. • Telephone communications (no radiotelephone)
This settlement agreement (“Agreement”) is entered into as of December 31, 2012 by and between Brio Capital, L.P. (“Brio”) and Brio Capital Master Fund Ltd., on the one hand, and World Surveillance Group Inc., formerly Sanswire Corp. and Globetel Communications Corp. (hereafter, “WSGI”) and Glenn D. Estrella (“Estrella” and, with WSGI, the “WSGI Parties”), on the other hand. Brio, Brio Capital Master Fund Ltd. and the WSGI Parties are collectively referred to as the “Parties.”
