Document:

Form of Separation Agreement

  
 EXHIBIT 10.3

  
 FORM OF SEPARATION AGREEMENT 
  
 Article 1. 
 Purpose 
  
 Starcraft Corporation (the “Company” and/or “Employer”) and Kelly L. Rose (the “Employee”), the
Company’s former President and Chief Executive Officer, and current Chairman of the Board of Directors, enter into this Agreement to terminate, subject to the provisions of this Separation Agreement, the Amended and Restated Employment
Agreement dated as of July 23, 2003 by and between Employer and Employee, a copy of which is attached as Exhibit 1 hereto and incorporated herein by this reference (the “Employment Agreement”), in consideration of the mutual
undertakings and agreements herein contained (including those attached as an Exhibit or Schedule hereto). 
  
 Article 2. 
 Definitions 
  
 Whenever used in this Agreement, unless defined herein, capitalized terms,
words and phrases shall have the meaning described in the Employment Agreement. 
  
 Article 3.  
 Terms of Agreements 
  
 3.1. Separation Agreement. Subject to Section 3.2, this Agreement will
become effective at the “Effective Time” as defined in Section 2.2 of that certain Agreement and Plan of Merger dated as of November 23, 2004, by and among Quantum Fuel Systems Technologies Worldwide, Inc., Quake Sub. Inc. and Starcraft
Corporation (for purposes of this Agreement and each other Transaction Agreement (as defined below), the “Effective Date”). 
  
 3.2. Transaction Agreements. Notwithstanding the foregoing, this Agreement will not become effective until such time as each of the following
documents has been duly executed by each party thereto (each, a “Transaction Agreement” and, together with this Agreement, the “Transaction Agreements”): (a) Mutual Release of Claims, executed by Employee and
Employer, in the form attached hereto as Exhibit 3.2(a); (b) Consulting Agreement, by and between Employee and Employer, in the form attached hereto as Exhibit 3.2(b); (c) Asset Purchase and Sale Agreement, by and among Starcraft
Acquisition, Inc., as purchaser, and 

  

 
Employer, and Starcraft Automotive Group, Inc. as sellers, in the form attached hereto as Exhibit 3.2(c) (the “Purchase Agreement”)
together with each of the closing documents contemplated therein; (d) Assignment of Patents, Trademarks and Licenses, by and between Employer and Starcraft Mark Holding Company, Inc., in the form attached hereto as Exhibit 3.2(d) (the
“Intellectual Property Assignment”); and (e) Registration Rights Agreement, by and between Employee and Quantum Fuel Systems Technologies Worldwide, Inc., in the form attached hereto as Exhibit 3.2(e). 
  
 3.3. Employment Agreement. Effective immediately upon this Agreement
becoming effective in accordance with Sections 3.1 and 3.2 hereof, and without any further action required on the part of either Employee or Employer, the Employment Agreement shall terminate and no longer be of any force or effect, subject to the
ongoing obligations of Employer and Employee set forth in Article 4 hereof. However, until such time, Employer and Employee agree that the Employment Agreement continues in full force and effect unless it is terminated in accordance with its terms.
Employer acknowledges that Employee’s annualized Base Compensation under the Employment Agreement is and shall be Four Hundred Fifty Thousand Dollars ($450,000). For so long as the Employment Agreement remains in full force and effect, any Base
Compensation and other amounts payable under Sections 4, 5, and 6 of the Employment Agreement during the remainder of its term shall be paid when due, and Employee shall continue to participate in the Benefit Plans and other perquisites, provided in
Sections 4, 5, and 6 of the Employment Agreement. For the avoidance of doubt, immediately upon the effectiveness of this Agreement, Employee shall not have any right or entitlement to receive the severance benefit as provided in Section 8 of the
Employment Agreement. 
  
 Article 4.

 Other Agreements 
  
 4.1. Health Insurance. At its own expense the Company shall continuously maintain the health benefit plan benefits (or substantially equivalent
plan benefits) for Employee and his spouse, as described in Section 5 and Section 8.B(i) of the Employment Agreement, on, from and continuously after the Effective Date, for a period of two (2) years. 
  

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 4.2. Liability Insurance. At its own expense the Company shall continuously maintain the liability
insurance benefits and coverages (or substantially equivalent benefits and coverages) described in Section 25(A) of the Employment Agreement, and the rights of indemnity, contribution, hold harmless and recoupment in Section 25(B) of the Employment
Agreement, for the benefit of Employee on, from and continuously after the Effective Date, for a period of six (6) years. 
  
 4.3. Offices. The Company acknowledges that the furniture, finishings and contents within the Employee’s office listed on Schedule 4.3
are the personal property of Employee, as are the collectible art works located throughout the building in which Employee’s office is located listed on Schedule 4.3. For so long as Employer or its affiliates maintain offices at 1123
South Indiana Avenue, Goshen, Indiana, or elsewhere in Elkhart County, at its own expense the Company shall provide to Employee his present office (or, if Employer and its affiliates move elsewhere within Elkhart County, an office reasonably
satisfactory to both Employee and Employer) and his current executive assistant (or if she is for any reason not available, an executive assistant satisfactory to both Employee and Employer). 
  
 4.4. Appraisal. Prior to the Effective Date, at Employer’s sole
cost and expense, Employer shall cause to be completed independent, third party appraisals of the real, personal and other property and assets to be transferred pursuant to the Intellectual Property Assignment and the Purchase Agreement (the
“Appraisals”). William R. Neal of Rochester, Indiana will appraise the real property and improvements thereon and the remaining property will be appraised by appraisers selected by Employer, with the consent of Employee that will
not be unreasonably withheld. Starcraft will, prior to the Effective Date, provide Employee with a copy of completed Appraisals. 
  
 4.5. Tax Matters. 
  
 (a) To the extent that the Internal Revenue Service determines that any payment to or benefit provided Employee will subject Employee to the excise tax
prescribed by Section 4999 of the Internal Revenue Code, as amended (“Excise Tax”), then Employer shall pay to Employee the amount of such Excise Tax (“Excise Tax Payment”); provided that the total 

  

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amount of such Excise Tax Payment shall not exceed Three Hundred Thousand Dollars ($300,000). 
  
 (b) Following a “determination,” as defined in Section 1313 of the Code, that Employer was obliged to withhold
additional taxes from any amounts payable hereunder, in connection with any Transaction Agreement or otherwise, Employee shall promptly reimburse Employer for the amount of such taxes, together with penalties and interest thereon. 
  
 4.6. Continuing Confidentiality Obligations. Notwithstanding the
termination of the Employment Agreement as provided in Section 3.3 hereof, Section 9 of the Employment Agreement, pursuant to which Employee is required to maintain in confidence and not disclose trade secrets and confidential information of
Employer, shall remain in full force and effect. 
  
 4.7.
Assignment of Inventions. Employee agrees and acknowledges that all right, title and interest with respect to all ideas, inventions, works of authorship and other subject matter (“Creations”) created, developed, reduced to
practice, invented or otherwise made during Employee’s employment by Employer, or based on Employer’s confidential information, and any and all proprietary rights related thereto, shall solely vest in, inure to the sole benefit of, and be
the sole property of, Employer without any limitations. If, notwithstanding the foregoing, Employee retains any right, title or interest with respect to any Creations or any related proprietary rights, Employee hereby assigns, transfers and conveys,
and agrees to assign, transfer and convey, to Employer, without any limitations or any additional remuneration, all such right, title and interest. 
  
 Article 5. 
 Miscellaneous

  
 5.1. Death of Employee. Should Employee die
after termination of his employment with Employer while any amounts are payable to him hereunder, this Agreement shall inure to the benefit of and be enforceable by Employee’s executors, administrators, heirs, distributees, devisees and
legatees and all amounts payable hereunder shall be paid in accordance with the terms of this Agreement to Employee’s devisee, legatee or other designee or, if there is no such designee, to his estate. 
  

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 5.2. Succession. Employer shall require any successor, assignee, distributee or other transferee
of all or substantially all of its assets or business, or any person or entity that obtains control of Employer (whether direct or indirect, by purchase, merger, dissolution, liquidation, consolidation or otherwise) by agreement in form and
substance reasonably satisfactory to Employee to expressly assume and agree to perform this Agreement as if no such transfer or change of control had taken place. As used in this Agreement, “Employer” shall mean Employer or any parent from
time to time and any successor to its or their business or assets as aforesaid. 
  
 5.3. Waiver. No provision of this Agreement may be modified, waived or discharged unless such waiver, modification or discharge is agreed to in writing signed by Employee and Employer. No waiver by either party
hereto at any time of any breach by the other party hereto of, or compliance with, any condition or provision of this Agreement to be performed by such other party shall be deemed a waiver of dissimilar provisions or conditions at the same or any
prior or subsequent time. No agreements or representation, oral or otherwise, express or implied, with respect to the subject matter hereof have been made by either party which are not set forth expressly in this Agreement. 
  
 5.4. Severability. The invalidity or unenforceability of any provision
of this Agreement shall not affect the validity or enforceability of any other provisions of this Agreement which shall remain in full force and effect. 
  
 5.5. Alienation. No benefit payable at any time under this Agreement shall be subject in any manner to alienation, sale, transfer, assignment,
pledge, attachment, levy, garnishment, or encumbrances of any kind. 
  
 5.6. Withholding. Employer shall withhold any applicable income, employment and other taxes that are required by law to be withheld from the benefits, payments and asset transfers provided for under this Agreement and the other
Transaction Agreements. 
  
 5.7. Insurance. Employer’s
responsibility to provide the benefits set forth in Section 5.2 will be satisfied by entering into contracts of insurance with reputable insurance carriers, paying the premiums therefore and otherwise complying with the contracts of
insurance. 

  

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Any payment benefits thereunder shall be the exclusive responsibility of the insurer that is required to provide such benefits under such policy. 

 
 5.8. Status. Commencing upon the Effective Date and the termination
of the Employment Agreement in accordance with the terms hereof, the Employee shall cease to be an employee of the Employer for any purpose. The payment of benefits under this Agreement shall be payments to a former employee. 
  
 5.9. Equitable Remedies. Employer acknowledges that money damages for
breach of its agreements set forth in Sections 4.1, 4.2 and 5.2 of this Agreement would be inadequate to make Employee whole and so agrees that Employee may obtain specific performance of Sections 4.1, 4.2 and 5.2 of this Agreement in the event of
Employer’s breach thereof, in addition to his other available remedies. 
  
 5.10. Applicable Law. In the event of a dispute concerning any terms in this Agreement, the parties agree to first attempt to resolve the dispute amicably. This Agreement shall be governed by, and construed in
accordance with, the laws of the State of Indiana applicable to contracts executed in and to be performed in that State. All actions and proceedings arising out of or relating to this Agreement shall be heard and determined in any Indiana state or
federal court thereof. The parties hereto hereby (a) submit to the exclusive jurisdiction of any state or federal court sitting in the State of Indiana for the purpose of any action arising out of or relating to this Agreement brought by any party
hereto and (b) irrevocably waive, and agree not to assert by way of motion, defense, or otherwise, in any such action, any claim that it is not subject personally to the jurisdiction of the above-named courts, that its property is exempt or immune
from attachment or execution, that the action is brought in an inconvenient forum, that the venue of the action is improper, or that this Agreement may not be enforced in or by any of the above-named courts. 
  
 5.11. Limitation of Liability. 
  
 (a) In respect of each provision of this Agreement except Sections 4.1 and
4.2 hereof, to the extent permitted by applicable law, in no event shall Employer or Employee be liable under this Agreement for any consequential, special, indirect, exemplary, incidental or 

  

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punitive damages whether in contract, tort or any other legal theory, even if it has been advised of the possibility of such damages and notwithstanding any
failure of essential purpose of any limited remedy. 
  
 (b) In
respect of Sections 4.1 and 4.2 hereof, in no event shall Employer or Employee be liable under this Agreement for any exemplary or punitive damages whether in contract, tort or any other legal theory. 
  
 5.12. Entire Agreement Binding Effect. This Agreement, together with
each other Transaction Agreement, is the entire agreement of the parties regarding the subject matter hereof. This Agreement shall be binding upon, and inure to the benefit of, personal representatives, successors, and assigns. 
  
 5.13. Headings. The section and paragraph headings used herein are for
convenience only and shall not be read or construed as limiting the substance or generality of such sections or paragraphs of this Agreement. 
  
 5.14. Counterparts. This Agreement may be executed in any number of counterparts, each of which when so executed and delivered shall be an
original, but all of which together constitute one and the same instrument. 
  
 5.15. Notices. Any notice under this Agreement to Employee or Employer shall be in writing and, (a) if delivered by hand, shall be deemed to have been given when delivered, (b) if mailed, shall be deemed to
have been given on the earlier of receipt or three (3) business days after the date when sent by registered or certified United States Mail, postage prepaid, return receipt requested (c) if sent by reputable national overnight courier service, shall
be deemed to have been given on the earlier of receipt or the next business day after the date sent, freight prepaid, in each case addressed to Employee or Employer or other holder at its address shown below or at such other addresses as such party
may, by written notice to the other, have designated as its address for such purposes. 
  

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	 If to Employee:
	  	 Kelly Rose

		
	 If to Employer:
	  	 Starcraft Corporation
 1123 South Indiana Avenue
 Goshen, IN 45627

		
	 	  	 Attn: Michael H. Schoeffler

  

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 IN WITNESS WHEREOF the
parties have duly executed this Separation Agreement this      day of                 , 2005. 
  

			
	EMPLOYER:
	Starcraft Corporation
		
	 By:
	 	 
	 Michael H. Schoeffler, Co-CEO

	
	EMPLOYEE:
	
	 
	 Kelly L. Rose

  

 9Form of Assignment of Patents, Trademarks and Licenses

 EXHIBIT 10.4 
  
 FORM OF ASSIGNMENTS OF PATENTS, 
 TRADEMARKS AND LICENSES 
  
 THIS ASSIGNMENT OF PATENTS, TRADEMARKS AND LICENSES (this “Assignment”), is entered into as of                  , 2005 among Starcraft
Corporation, an Indiana Corporation (“Starcraft”), Kelly L. Rose (“Rose”), and Starcraft Mark Holding Company, Inc. (“SMHC”), an Indiana Corporation, and an affiliate of Rose. The effectiveness of this Assignment shall
occur on the “Effective Date,” as such term is defined in that certain Separation Agreement, dated as of                  , 2005, by and between
Starcraft Corporation and Rose (the “Separation Agreement”), to which this Assignment is attached as Exhibit 3.2(d), conditioned upon Rose making arrangements reasonably acceptable to Starcraft for the satisfaction of applicable
income, employment and other tax withholding obligations in connection with this Assignment. For the avoidance of doubt, this Assignment shall not become effective or legally binding until such time that the Separation Agreement becomes effective in
accordance with its terms. All capitalized terms not otherwise defined herein shall have the meaning set forth in the Separation Agreement. 
  
 In consideration of the sum of Ten Dollars ($10.00), the mutual promises set forth herein and in the Separation Agreement, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, Starcraft and SMHC agree as follows: 
  
 1. Assignment of Trademarks. Starcraft hereby assigns to SMHC, as of the Effective Date, Starcraft’s entire right, title and interest in and
to the trademarks, service marks and logos set forth on Schedule A attached hereto (the “Trademarks”), together with (a) all national, foreign and state registrations, applications for registration and renewals and extensions
thereof; (b) all common law rights related thereto; (c) all goodwill associated therewith; and (d) all benefits, privileges, causes of action and remedies relating to any of the foregoing accrued as of the Effective Date and thereafter (including,
without limitation, the exclusive rights to apply 

  

					
	 	  	 	  	 

 
for and maintain all such registrations, renewals and/or extensions, to sue for all present or future infringements or other violations of any rights in the
Trademarks, and to settle and retain proceeds from any such actions). 
  
 2. Assignment of Patents. Starcraft hereby assigns to SMHC, as of the Effective Date, Starcraft’s entire right, title and interest in and to the patents (and patent applications, if any) set forth on Schedule A attached
hereto (the “Patents”), together with (a) all reissues, divisions, continuations, renewals, extensions and continuations-in-part of any of the foregoing, (b) all benefits, privileges, causes of action and remedies relating to any of the
foregoing accrued as of the Effective Date and thereafter (including, without limitation, the exclusive rights to apply for and maintain all such Patents, applications, renewals and extensions, to sue for all present or future infringements or other
violations of any rights in the Patents, and to settle and retain proceeds from any such actions). 
  
 3. Title to Intellectual Property. Starcraft represents and warrants to SMHC that as of the Effective Date: (a) Starcraft is the owner of the
Trademarks and Patents, and (b) to the knowledge of Starcraft (which does not have an obligation to investigate), there are no pending claims, actions or judicial or other adversary proceedings involving any Trademarks or Patents, and that the
Trademarks and Patents are free and clear of liens. SMHC acknowledges that Starcraft owns the Patents and the Trademarks. SMHC shall not contest Starcraft’s title to or the validity of the Patents or Trademarks. 
  
 4. License Back. SMHC agrees to grant to Starcraft, effective on the
Effective Date, a non-exclusive, royalty-free, paid-up, transferable (in accordance with Section 10 hereof) worldwide right and license to use, reproduce and display the all iterations and versions of the “STARCRAFT” trademark,
“STARCRAFT and S” logo, and “S LOGO” trademark which are set forth on Schedule A: (1) as a trademark, tradename, trade logo and/or corporate name and identifier; (2) in and as a domain name, including without limitation
within SMHC’s website(s); 

  

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(3) in connection with automotive vehicle design, integration and manufacturing for new OEM body styling, mid-cycle enhancements, specialty products and
engines and drive trains and components and parts therefore; and (4) otherwise in connection with Starcraft’s Business as conducted prior to and after the Effective Date, provided that the transfer of the License Agreements pursuant to Section
5 below shall not be effected by the foregoing license. The foregoing license shall be subject to the reasonable terms and conditions mutually agreed in writing by Starcraft and SMHC, and the parties hereby agree that the effectiveness of this
Assignment will be conditioned on Starcraft’s and SMHC’s agreement of such terms and conditions. 
  
 5. Assignment of License Agreements. Starcraft hereby assigns to SMHC, as of the Effective Date, Starcraft’s rights and obligations under the
License Agreements set forth on Schedule A (the “License Agreements”) to the extent that such assignment is not prohibited by the terms and conditions set forth in the License Agreements. SMHC acknowledges and agrees that it has
received and reviewed copies of the License Agreements and that Starcraft shall not be liable in any way to SMHC under this Assignment or otherwise if the assignment of the License Agreements is deemed void under applicable law or under the terms
and conditions of such License Agreements. 
  
 6. Independent
Relationship. SMHC is an independent entity relative to Starcraft, and not an employee, partner, agent, franchisee, or joint venturer for any purpose. No agent, employee, or servant of SMHC shall be or shall be deemed to be the employee, agent,
or servant of Starcraft. Neither SMHC nor any of its officers, directors, employees, or agents shall have, nor shall any one of them represent themselves as having, any authority to make contracts in the name of any authority to bind Starcraft in
any manner, or to make warranties on guarantees in the name of or binding on Starcraft, or on Starcraft’s behalf, including without limitation in connection with the Patents, Trademarks or Assignments. 
  

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 7. Assumption and Indemnification. 
  
 (a) SMHC assumes and agrees to perform and discharge each and all of Starcraft’s obligations and liabilities under the
License Assignments, beginning as of the Effective Date. SMHC agrees to defend, indemnify and hold Starcraft harmless from and against all claims, demands, causes of action, suits, damages, expenses (including without limitation reasonable
attorney’s fees and costs) and all other liabilities (collectively, “Liabilities”) arising out of (I) the License Agreements as of the Effective Date and thereafter, and (II) SMHC’s and its licensees’ assignees’,
agents’ and designees’ use of the Trademarks and Patents after the Effective Date. Starcraft agrees to defend, indemnify and hold SMHC harmless from claims and against all Liabilities arising out of (x) the License Agreements prior to the
Effective Date and (y) Starcraft’s use of the Trademarks and Patents prior to the Effective Date. 
  
 (b) The foregoing indemnification obligations are conditioned upon the indemnified party (i) giving notice to the indemnifying party of such Liability as
soon as reasonably practicable upon becoming aware of the same; and (ii) providing assistance and information in the defense and/or settlement of the claim or action to which such Liability relates. In no event shall the indemnifying party enter
into any settlement or agree to any disposition, without the prior written consent of the indemnified party, that (x) contains an admission of liability or wrongdoing on the part of the indemnified party or otherwise prejudices the rights of the
indemnified party; or (y) imposes a material obligation on the indemnified party that is not wholly discharged by the indemnifying party. 
  
 8. Applicable Law. This Assignment shall be governed by the laws of the State of Indiana applicable to contracts made and to be wholly performed in
the State of Indiana. Any 

  

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and all litigation between the parties pertaining to or arising out of this Assignment or the transactions provided for in it, shall be brought and
maintained only in the courts of the State of Indiana (including federal courts sitting in the State of Indiana) and the parties irrevocably consent to the subject matter and personal jurisdiction of such courts and waive all rights to a trial by
jury as to all or any part of any such litigation. 
  
 9.
Waiver. Failure of either party to insist on strict compliance with any of the provisions of this Assignment shall not constitute waiver of that party’s right to demand later compliance with the same or other provisions of this
Assignment. 
  
 10. Binding Effect. Neither party shall
have the right to assign this Assignment, whether by contract, operation of law or otherwise, without the other party’s prior written consent. Subject to the foregoing, this Assignment shall be binding upon and inure to the benefit of the
permitted successors and assigns to the parties hereto. 
  
 11.
Maintenance Fees. Starcraft agrees to reimburse SMHC for all reasonable out-of-pocket expenses, fees and costs incurred by SMHC for the maintenance and renewal of the trademarks and Patents for a
         year period beginning on the Effective Date. When requesting reimbursement, SMHC shall submit to Starcraft in writing an itemized list of such expenses, fees and costs, and shall provide
supporting documentation if requested by Starcraft. SMHC shall be responsible for, and shall pay any and all expenses, fees and costs relating to the Trademarks and Patents, subject to the reimbursement provided for above. SMHC shall be responsible
for all expenses, fees and costs relating to the defense and enforcement of the rights relating to such Trademarks and Patents. The parties acknowledge and agree that, as of the Effective Date and other than for the reimbursement described above,
Starcraft shall have no obligation to SMHC or any third party to maintain, 

  

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renew, defend or enforce the Trademarks and/or Patents or any rights relating thereto, or to make any filings in connection with the Trademarks and Patents.

  
 12. Filings. The parties agree to reasonably execute,
file, and record such instruments as are necessary to perfect SMHC’s rights in the Trademarks and Patents, at SMHC’s expenses. 
  
 13. Entire Agreement. This Assignment is the entire agreement between the parties regarding the Trademarks and Patents, and supercedes all previous
agreements. Specifically, no intellectual property rights, other than the specified rights in the Trademarks and Patents set forth in this Assignment, are conveyed or are intended to be conveyed from Starcraft to SMHC. 
  
 14. Tax Matters. 
  
 (a) An Appraisal (as such term is defined in the Separation Agreement) of the
Patents, Trademarks, and License Assignments will be completed prior to the “Effective Date,” as defined in the Separation Agreement, pursuant to the terms of the Separation Agreement. Unless and until there has been a
“determination,” as defined in Section 1313 of the Internal Revenue Code of 1986, as amended (the “Code”), to the contrary, the parties agree that the value of the Patents, Trademarks, and License Assignments shall be
determined in accordance with the Appraisal for applicable Tax (as defined below) purposes (the “IP Assignment Tax Purchase Price”). As soon as practicable following receipt of the Appraisal, the parties shall agree upon an
allocation of the IP Assignment Tax Purchase Price, among the various classes of the Patents, Trademarks, and License Assignments (as such classes are defined for the purposes of Section 1060 of the Code). All allocations made pursuant to this
Section 14(a) shall be made in accordance with the requirements of Section 1060 of the Code. SMHC and Starcraft shall not take a position on any Tax Return (as hereinafter defined) (including IRS Form 8594), before any governmental authority or in
any judicial proceeding that is in any manner inconsistent with such allocation without the written consent of the other such other party or unless specifically required pursuant to a determination by an applicable governmental authority. SMHC and

  

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Starcraft shall promptly advise each other of the existence of any tax audit, controversy or litigation related to any allocation hereunder. 
  
 (b) Subject to the terms and provisions hereof, the parties will cooperate
fully with each other in connection with (i) the preparation and filing of any Tax Returns of Starcraft or SMHC relating to any period, and (ii) any audit examination by or litigation or controversy arising with any governmental authority with
respect to any Tax Return referred to in clause (i). Such cooperation shall include, without limitation, the furnishing or making available of records, books of account or other materials necessary or helpful for the preparation and filing of any
such Tax Return or the reasonable defense against assertions of any taxing authority as to any such Tax Return relating to any period. 
  
 (c) For purposes of this Assignment, (i) “Tax” or “Taxes” means all taxes, however, denominated, including any interest,
penalties or other additions to tax that may become payable in respect thereof, imposed by federal, territorial, state, local or foreign government or any agency or political subdivision of any such government, which taxes shall include, without
limiting the generality of the foregoing, all income or profits taxes (including, but not limited to, federal income taxes and state income taxes), payroll and employee withholding taxes, unemployment insurance, social security taxes, sales and use
taxes, ad valorem taxes, excise taxes, franchise taxes, gross receipts taxes, business license taxes, occupation taxes, real and personal property taxes, stamp taxes, environmental taxes, transfer taxes, workers’ compensation, Pension Benefit
Guaranty Corporation premiums and other governmental charges, and other obligations of the same or of a similar nature to any of the foregoing, which are required to be paid, withheld or collected; and (ii) “Tax Return” means all
reports, estimates, declarations of estimated Tax, information statements and returns relating to, or required to be filed in connection with, any Taxes, including information returns or reports with respect to backup withholding and other payments
to third parties. 
  

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 15. Representations, Covenants and Warranties of Starcraft Starcraft represents, covenants and
warrants to SMHC as follows: 
  
 (a) Starcraft is a corporation
duly organized and validly existing under the laws of Indiana, and is authorized to conduct business in the State of Indiana. Starcraft has all requisite corporate power and authority to own, lease and operate its properties, to carry on its
business as now being conducted and to execute, deliver and perform this Assignment. 
  
 (b) The execution, delivery and performance of this Assignment and all other writings relating to it by Starcraft have been duly and validly authorized by all necessary corporate action, including action by its Board
of Directors. This Assignment constitutes the valid and binding obligation of Starcraft enforceable in accordance with its terms except as enforceability may be affected by applicable bankruptcy, insolvency, reorganization, moratorium or similar
laws affecting the rights of creditors’ generally, or the application of general principles of equity. Neither the execution and delivery of this Assignment nor the consummation by Starcraft of the transactions contemplated in it, nor
compliance by Starcraft with any of its provisions, will: (a) conflict with or result in a breach of the Certificate of Incorporation or By-Laws of Starcraft; (b) to Starcraft’s knowledge, violate any statute, law, rule or regulation or any
order, writ, injunction or decree of any court or governmental authority; or (c) to Starcraft’s knowledge, violate or conflict with or constitute a default under (or give rise to any right of termination, cancellation or acceleration under) any
agreement or writing of any nature or restriction of any kind to which Starcraft is a party or by which it or its assets or properties may be bound. 
  
 (c) All representations and warranties made in this Assignment; (i) are made as of the date of this Assignment unless a different date is specified in
them, and do not constitute representations, warranties or Assignments about any facts, events or legal results at any time 

  

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after the date of the Closing; (ii) shall be deemed made as of the Closing; and (iii) shall survive the consummation of the transactions provided for in this
Assignment, without regard to any knowledge of SMHC. 
  
 (d)
Starcraft has no liability to pay any finder’s fee or brokerage commission, or similar fee or commission, with respect to the transactions contemplated by this Assignment for which SMHC could become liable or obligated. 
  
 16. Representations and Warranties of SMHC SMHC represents, covenants
and warrants to Starcraft: 
  
 (a) SMHC is a corporation duly
organized and validly existing under the laws of Indiana, and is authorized to conduct business in the State of Indiana. SMHC has all requisite corporate power and authority to own, lease and operate its properties, to carry on its business as now
being conducted and to execute, deliver and perform this Assignment. 
  
 (b) The execution, delivery and performance of this Assignment and all other writings relating to it by SMHC have been duly and validly authorized by all necessary corporate action, including action by the Board of Directors. This
Assignment constitutes the valid and binding obligation of SMHC enforceable in accordance with its terms except as enforceability may be affected by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the rights
of creditors’ generally, or the application of general principles of equity. Neither the execution and delivery of this Assignment nor the consummation by SMHC of the transactions contemplated in it, nor compliance by SMHC with any of its
provisions, will: (i) conflict with or result in a breach of the Certificate of Incorporation or By-Laws of SMHC; (ii) to SMHC’s knowledge, violate any statute, law, rule or regulation or any order, writ, injunction or decree of any court or
governmental authority; or (iii) to SMHC’s knowledge, violate or conflict with or constitute a default under (or give rise to any right of termination, cancellation or 

  

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acceleration under) any agreement or writing of any nature or restriction of any kind to which SMHC is a party or by which it or its assets or properties may
be bound. 
  
 (c) All representations and warranties made in this
Assignment by SMHC; (i) are made as of the date of this Assignment unless a different date is specified in them, and do not constitute representations, warranties or Assignments about any facts, events or legal results at any time after the date of
the Closing; (ii) shall be deemed made as of the Closing; and (iii) shall survive the consummation of the transactions provided for in this Assignment, without regard to any knowledge of the Starcraft. 
  
 17. Definitions. The following words and phrases have the following
meanings for purposes of this Assignment: 
  
 “knowledge” - an individual shall be deemed to have “knowledge” of a particular fact or other matter if such individual is actually aware of such fact or other matter. 
  
 18. Notices. Any notice under this Assignment to SMHC or to Starcraft
shall be in writing and, (a) if delivered by hand, shall be deemed to have been given when delivered (b), if mailed, shall be deemed to have been given on the earlier of receipt or three (3) business days after the date when sent by registered or
certified United States Mail, postage prepaid, return receipt requested (c) if sent by reputable national overnight courier service, shall be deemed to have been given on the earlier of receipt or the next business day after the date sent, freight
prepaid, in each case addressed to SMHC or Starcraft or other holder at its address shown below or at such other addresses as such party may, by written notice to the other, have designated as its address for such purposes. 
  

			
	 If to Purchaser:
	  	 Starcraft Mark Holding Company, Inc.

	 	  	 
	 	  	 
	 	  	 
	 	  	 Attn: Kelly Rose

		
	 If to Seller:
	  	 Starcraft Corporation
 1123 South Indiana Avenue
 Goshen, IN 45627 

	 	  	 
	 	  	 Attn: Michael H. Schoeffler

  
 [END OF PAGE]

  

 10 

 IN WITNESS WHEREOF the parties have duly executed this Assignment of Intellectual Property effective the
Effective Date on this              day of                     , 2005.

  

			
	 STARCRAFT CORPORATION

		
	By:	 	 
	 	 	 Michael H. Schoeffler, Co-CEO

	
	 STARCRAFT MARK HOLDING COMPANY, INC.

		
	By:	 	 
	 	 	 Kelly L. Rose, President

  

	
	APPROVED AND CONSENTED:
	
	  
	 KELLY L. ROSE, individually

  

 11

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