BINDING LETTER OF INTENT May 11, 2007Binding Letter Agreement • May 16th, 2007 • Quantum Fuel Systems Technologies Worldwide Inc • Motor vehicle parts & accessories • California
This binding letter agreement ("Letter Agreement") among Quantum Fuel Systems Technologies Worldwide, Inc. ("Quantum"), Automotive Solar Systems GmbH ("ASS"), and Mr. Reinhard Wecker ("ASS Shareholder") is intended to summarize the principal terms regarding the purchase by Quantum, or one of its affiliates, of shares of stock of ASS, from ASS or ASS Shareholder. Subject to Section 7, the parties agree that this Letter Agreement shall be binding upon Quantum, ASS and ASS Shareholder.
