Document:

Severance and Release Agreement

 Exhibit 10.1 
 SEVERANCE AND RELEASE AGREEMENT 
 THIS AGREEMENT is made and entered into as of this the 14th
day of May, 2008, by and between Michael C. Azar (hereinafter “Azar”), Noble International, Ltd. (hereinafter the “Company”) and any and all of its subsidiaries and affiliates (hereinafter referred to collectively as
“Noble”). 
 AGREEMENT 
 WHEREAS, Azar is currently an officer of the Company. 
 WHEREAS, on or about January 1,
2002, Azar entered into an employment agreement with the Company. 
 WHEREAS, Azar and Noble agree that it would be in their best
interests to sever their employment relationship; 
 WHEREAS, Azar and Noble have met and reached a full agreement and understanding
concerning the severance of their employment relationship; 
 WHEREAS, this Severance and Release Agreement is intended to set forth,
and does set forth, all terms and conditions of Azar’ termination of employment. 
 NOW, THEREFORE, the parties to this Severance
and Release Agreement have mutually and voluntarily agreed to resolve their disputes in sole consideration for the promises and covenants set forth as follows: 
 1. Upon the execution of this Severance and Release Agreement by the parties, Azar voluntarily resigns from his employment with Noble effective May 14, 2008. Azar resigns from all positions and offices held with
Noble, its entities and affiliates. 
 2. The Company agrees to pay Azar severance payments equal to Three Hundred Fifty Thousand and 00/100
Dollars ($350,000.00), to be paid in equal installments over a period of twelve (12) months from the date hereof, consistent with the Company’s current payroll period and practices, subject to deductions for local, state, federal or FICA
taxes, as applicable. Azar shall 

 
retain his right to (i) receive accrued but unpaid dividends for September 30, 2007, December 31, 2007 and March 31, 2008 on 6,257
shares of stock issued to Azar as the matching award pursuant to the Company’s June 29, 2007 stock matching program and (ii) exercise his existing options to purchase the Company’s Common Stock in accordance with, and subject to,
the terms of the existing option awards governing such options. 
 3. The Company shall continue Azar’s currently elected health, dental
and vision care for a period of twelve (12) months from the date hereof (the “Health Care Coverage Period”) either directly through a Company sponsored plan or through payment of his COBRA premium. Azar may elect to continue his
health care coverage through COBRA after this period at his own expense. The Company will also reimburse Azar for all business expenses incurred by him up to and including the date of this Agreement (to the extent customarily reimbursed by the
Company), including cell phone usage and club dues. The Company shall make such reimbursement within thirty (30) days of receipt of an appropriate expense report documenting such items. All other perquisites and other employee benefits shall
cease immediately. 
 4. The parties agree that said severance constitutes consideration paid to Azar in exchange for his release of Noble
from liability for all damages claimable by Azar under any federal or state statutes, constitutions, or state common law tort or contract doctrines. 
 5. Azar, on behalf of himself, his agents, representatives, executors, heirs, administrators, assigns and all those acting on his behalf, hereby releases, acquits, and forever discharges Noble, its agents, employees,
officers, directors, subsidiaries and related or controlled entities, affiliates, parent, shareholders, representatives, executors, heirs, administrators, successors, and assigns (“Released Parties”) from any and all claims and causes of
action for personal or monetary relief, whether known or unknown, suspected or unsuspected, foreseen or unforeseen, liquidated or unliquidated, which he ever had or now has against the Released Parties, relating to 

  

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his employment or his service as officer or general counsel of Noble, including but not limited to all claims and/or causes of action in any way related to
Azar’s hire, employment or termination of employment, including, but not limited to, any claims of discrimination, breach of contract, actual and/or constructive discharge, retaliation or defamation (“Released Claims”). This release
also includes, but is not limited to, any claims under the federal Age Discrimination in Employment Act of 1967 (as amended) (ADEA) and the Older Workers Benefit Protection Act (OWBPA), which prohibits discrimination on the basis of age. Azar waives
and releases any and all rights, entitlements or benefits provided in his Employment Agreement effective January 1, 2002, Amendment Number 1 to Employment Agreement dated May 28, 2003, or any other employment agreements, amendments or
arrangements (“Employment Agreement”). Azar agrees and acknowledges that other than the consideration contained in Paragraph 2 of this Severance and Release Agreement, he is not entitled to any other compensation whatsoever including but
not limited to severance payment, present or future commissions or bonuses, stock or stock options, or any other additional monies, benefits or payment from Noble and the Released Parties, in connection with his role as an employee of Noble. Azar
also agrees to refrain from initiating a lawsuit involving any of the Released Claims against the Released Parties for any reason other than for breach of this Severance and Release Agreement. 
 6. In consideration of Azar’s promises contained herein, to the fullest extent permitted by the Company’s Certificate of Incorporation and
By-laws and the Delaware General Corporation Law, Noble hereby releases Azar from any and all claims and causes of action currently known or suspected (“Currently Known or Suspected Claims”) which it ever had or now has against Azar and
agrees to indemnify and hold Azar harmless against any costs or expenses (including reasonable attorneys’ fees), judgments, fines, losses, claims, damages or liabilities incurred in connection with any claim, action, suit, proceeding or
investigation, whether civil, criminal, administrative or investigative, arising out of matters relating to Azar’ employment as an employee, officer or director, with the exception of any established or proven intentional crimes or illegal or
unlawful actions committed by Azar. 
  

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 7. The parties acknowledge that they may in the future discover facts different from or in addition to
those which they now know or believe to be true with respect to the matters which are the subject of this Severance and Release Agreement and agree that this Severance and Release Agreement shall remain in effect in all respects, notwithstanding the
discovery or existence of different or additional facts. However, this Severance and Release Agreement does not waive or release any claims or rights that arise after the date the last party executes this Agreement. The parties intend this Agreement
to release fully, finally and forever the Released Claims described in Paragraph 5 and the Currently Known or Suspected Claims described in Paragraph 6, and to further this intention the parties agree that this Severance and Release Agreement shall
remain in effect and enforceable as full and complete release of such Released Claims and such Currently Known or Suspected Claims, respectively, notwithstanding the discovery or existence of different or additional facts relevant to those claims.
Notwithstanding any provision in this Severance and Release Agreement to the contrary, such releases shall not release any duties or obligations of either party under this Severance and Release Agreement. 
 8. Azar shall continue to be fully indemnified for acts and omissions occurring on or prior to the date hereof to the fullest extent permitted under
applicable law and pursuant to the corporate governance documents of the Company in accordance with their terms as in effect from time to time. The Company agrees that for purposes of this Section it shall interpret and/or apply any provision of
applicable law or any corporate governance document relating to indemnification (including advancement of expenses) with respect to Azar in a manner consistent with how such provisions are interpreted and applied by the Company with respect to all
other directors and officers and to the fullest extent permissible. Azar shall be covered under the Company’s directors’ and officers’ liability insurance policies in effect from time to time on the same basis that other current and
former officers or directors are covered. 
  

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 9. In consideration of the recitals and the mutual agreements contained herein, and without limitation of
any other rights of the Company thereunder or hereunder, the provisions in Article IV of the Employment Agreement are incorporated herein by reference and shall survive in accordance with their terms, and for the periods prescribed in Article IV of
the Employment Agreement, Azar shall not, without the Company’s prior written consent, breach, violate or fail to comply with any of the provisions of such Article. 
 10. In entering into this Severance and Release Agreement, each party warrants that they or it have done so voluntarily and of their own accord without reliance on any inducement, promise or representation by any
other party except those which are expressly set forth in this Severance and Release Agreement. Azar represents and warrants that he has the sole right and exclusive authority to execute this Severance and Release Agreement; and that he has not
sold, signed, transferred, conveyed or otherwise disposed of any claim or demand relating to any matter covered in this Severance and Release Agreement. 
 11. The parties agree to act hereafter in a professional and non-retaliatory manner, refraining from making disparaging remarks, innuendos, gestures, insinuations, actions, or other verbal, nonverbal, written,
electronic or other similar such expression concerning each other. 
 12. Azar will immediately return any and all Noble property in his
possession, including but not limited to, all keys, cell phone, credit card, files and any other property or documentation. Azar shall also return any and all files and information contained in any computer equipment, including any hard drives,
floppy disks, tapes, CD ROMS and recordables, zip drives, hard copies containing information and/or files obtained from Noble regarding Noble’s business operations regardless of where located. Azar verifies that he has not, nor has he requested
or directed anyone else to, nor shall he access, share, copy or retain any hard drives, floppy disks, tapes, 

  

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CD ROMS and recordables, zip drives and hard copies containing information and/or files obtained from Noble regarding Noble’s business operations
regardless of where located. Azar may retain, however, documents that contain professional work product that do not include any Confidential Information or proprietary information of Noble. 
 13. Azar agrees that if contacted by Noble, for information or assistance relating to business operations, board or shareholder meetings or other
matters, he will be responsive, cooperative and, if necessary, make himself available (at a time convenient to Azar). Azar also agrees to cooperate with respect to the defense of any lawsuit that relates to his performance of his duties while
employed at Noble. Such cooperation includes meeting with Noble’s attorneys at reasonable dates and times, providing requested information. 
 14. In consideration of the recitals and the mutual agreements contained herein, Azar acknowledges that he remains obligated to keep confidential and not disclose or use, directly or indirectly, on his own behalf or on behalf of any other
person or business entity, any Confidential Information obtained through his employment as long as the information remains confidential. “Confidential Information” is defined as oral or written, financial, technical and other information
concerning the business affairs and potential or proposed business affairs of Noble that is not generally known in the trade or industry and that Noble considers to be confidential including, but not limited to that relating to the property,
business, financing, marketing, business methods, pricing, sales, technology, processes, procedures, plans, projections, strategy, business developments, trade secrets, proprietary information, service capabilities, potential transactions,
engagements, customers and methods of Noble and/or its parent and affiliated entities. Azar acknowledges that a breach or threatened breach of this paragraph will result in Noble suffering irreparable harm that cannot be calculated or fully or
adequately compensated by recovery of damages alone. Accordingly, Noble is entitled to equitable relief, including interim or permanent injunctive relief, specific performance, or other equitable remedies in the event of any breach of this or any of
the other of the provisions of this agreement, in addition to all other remedies which may be available to Noble. 
  

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 15. In the event that Azar is requested or required (by oral questions, interrogatories, requests for
information or documents, subpoena, civil investigative demand or other process) to disclose any trade secrets, Confidential Information and/or proprietary information, it is agreed that Azar will provide Noble with prompt notice of any such request
or requirement (written if practical) so that Noble may seek an appropriate protective order or waive Azar’s compliance with the provisions of this agreement. In any event, Azar will not oppose action by Noble to obtain appropriate protective
order or other relief. 
 16. In the event that any legal action is commenced by any party to seek enforcement of this Severance and Release
Agreement or damages for its breach, the prevailing party shall be entitled to recover its costs and reasonable attorney fees incurred in connection with that action. 
 17. Azar understands and agrees that he has been given 21 days (or more) within which to consider this Severance and Release Agreement. Azar has read and fully understands the terms of this Severance and Release
Agreement. 
 18. Azar understands and agrees that he may revoke this Severance and Release Agreement for a period of seven (7) calendar
days following the execution of this Severance and Release Agreement (the “Revocation Period”). This Severance and Release Agreement is not effective until this revocation period has expired. Azar understands that any revocation, to be
effective, must be in writing and either (a) postmarked within seven (7) days of execution of this Severance and Release Agreement and addressed to Andrew J. Tavi, Noble International, Ltd., 840 West Long Lake Road, Suite 601, Troy
Michigan 48098 or (b) hand-delivered within seven (7) days of execution of this Severance and Release Agreement to Andrew J. Tavi. Azar understands that if revocation is made by mail, mailing by certified mail, return receipt requested, is
recommended to show proof of mailing. No payments under this Agreement will be made until the expiration of the seven-day revocation period. 
  

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 19. No waiver, modification or amendment of any term, condition or provision of this Severance and
Release Agreement shall be valid or have any force or effect unless made in writing and signed by the parties. 
 20. Azar acknowledges that
he has read this Severance and Release Agreement and that he understands the contents and the meaning and effect thereof. Azar acknowledges that he was advised to consult with an attorney prior to signing the Agreement, and that he has signed this
Severance and Release Agreement voluntarily without any duress or coercion. Each party shall bear its own costs and attorneys fees. 
 21.
This Severance and Release Agreement is made and entered into in the State of Michigan and shall be interpreted, enforced and governed under the law of that State. Any action or proceeding relating to or arising out of this Severance and Release
Agreement shall be brought and maintained in the Oakland County Circuit Court and the parties hereby submit to the exclusive jurisdiction of such court and stipulate that such forum is convenient to the parties for the purpose of trial of such
action or proceeding. 
 22. In the event that any covenant, condition or other provision contained in this Agreement is held to be invalid,
void or illegal by any court of competent jurisdiction, the same shall be deemed severable from the remainder of this Agreement and shall in no way effect, impair or invalidate any other covenant, condition or other provision contained in this
Agreement. 
 23. This Severance and Release Agreement is deemed drafted by all parties. 
 24. This Severance and Release Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but which together shall
constitute one and the same instrument. 
  

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 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the dates set forth below.

  

			
	 /s/ Michael C. Azar

	MICHAEL C. AZAR
	DATE:	 	May 14, 2008
	
	NOBLE INTERNATIONAL, LTD.
	
	 /s/ Thomas L. Saeli

	BY:	 	Thomas L. Saeli
	ITS:	 	Chief Executive Officer
	DATE:	 	May 14, 2008

  

 9Stock Redemption Agreement

 Exhibit 10.2 
 STOCK REDEMPTION AGREEMENT 
 This Stock Redemption Agreement (this “Agreement”) is made
effective as of June 30, 2008 (the “Effective Date”), by and among Noble Manufacturing Group, Inc., a Michigan corporation (“Noble Manufacturing”), Noble International, Ltd., a Delaware corporation (“Noble
International”) (each is individually referred to as “Seller”, and collectively, they are referred to as “Sellers”), Sid E. Taylor, a Michigan resident (“Taylor), and SET Enterprises, Inc., a Michigan corporation
(sometimes referred to as the “Corporation”). 
 INTRODUCTORY STATEMENTS 
 A. The Corporation’s authorized capital stock consists of 50,000 shares of common stock (“Common Stock”). Noble Manufacturing owns 76.8627
shares of the Common Stock. 
 B. The Corporation has issued and outstanding 15,200 shares of Series A preferred stock (“Series A
Stock”). Noble International holds 15,200 shares of Series A Stock. 
 C. The Corporation has issued and outstanding 6,000 shares of
Series B preferred stock (“Series B Stock”). Noble International holds 6,000 shares of Series B Stock. 
 D. The Corporation is
indebted to Seller for, among other things, (i) $1,272,000 in accrued but unpaid dividends on the Series A Stock and Series B Stock (collectively, the “Unpaid Dividends”), and (ii) $307,000 in unpaid fees pursuant (the
“Service Fees”) to a certain Services Agreement between SET and Sumitomo Corporation of America (“Sumitomo”) dated as of August 1, 2003, as assumed by Noble Manufacturing pursuant to Assignment and Assumption of Services
Agreement among Noble Manufacturing, Sumitomo and SET dated as of as of October 6, 2006 and as amended by the First Amendment to Services Agreement dated as of October 6, 2006 (as may be otherwise amended or modified, the “Services
Agreement”) 
 E. The Corporation has agreed to pay the Unpaid Dividends and Service Fees, and to redeem all Stock owned by each Seller
(the “Redemption”), and each Seller has agreed to have its Stock of the Corporation redeemed by the Corporation, all on the terms and conditions set forth in this Agreement. 
 F. Concurrently with the Closing, the Corporation has authorized and intends to obtain a credit facility from Bank of America, N.A. (the
“Bank”) which will provide funds for the Redemption and for related corporate purposes. 

 AGREEMENT 
 In consideration of the above Introductory Statements and the promises and provisions set forth in this Agreement, the adequacy and sufficiency of which the parties acknowledge, the parties, intending to be bound,
agree as follows: 
 1. Redemption. Each Seller shall sell to the Corporation, and the Corporation shall redeem from each Seller, the
number of shares of the Corporation’s Common Stock, Series A Stock and Series B Stock (collectively, the “Stock”) set forth after each Seller’s name in Paragraphs A, B and C of the Introductory Statements above, which represents
each Seller’s entire ownership interest in the Corporation. 
 2. Purchase Price. The aggregate consideration to be paid by the
Corporation to the Sellers for the Stock is One Million Nine Hundred Twenty-One Thousand Dollars ($1,921,000.00) (the “Purchase Price”). The allocation of the Purchase Price to be paid to Sellers is set forth on the attached Exhibit A.

 3. Terms of Payment. The Purchase Price payable to each Seller shall be paid at the Closing by cashiers’ or certified check(s)
or by wire transfer(s), at each Seller’s option. 
 4. Transfer of Stock. At Closing, each Seller shall either duly endorse in
blank certificate(s) evidencing the particular Stock being redeemed from such Seller as contemplated herein in a form ready for transfer or duly execute and deliver an assignment separate from certificate for such Stock, and shall execute any
documents or assignments necessary to effectuate the transfer and conveyance of said Stock. 
 5. Seller’s Representations and
Warranties. Each Seller represents and warrants to the Corporation the following with respect to itself (but not with respect to the other Seller): 
 (a) Sellers own their shares of the Stock free and clear of all pledges, liens, encumbrances, security interests, options, claims and other charges of every kind, except for certain security interests held by Comerica
Bank, a Michigan banking corporation (“Comerica”). Except for a non-binding Letter of Intent entered into on April 28, 2008 with Asaba Management LLC (the “Asaba LOI”), Sellers have not entered into any contract or
agreement, other than this Agreement, to sell or otherwise transfer any of such shares. By delivery of a certificate or certificates representing its Stock, along with appropriate transfer and release documentation from Comerica, Seller shall
transfer clear and marketable title to such Stock to the Corporation at Closing. 
 (b) Sellers have full power and authority to execute this
Agreement and to consummate the transactions contemplated in this Agreement. Sellers’ execution, delivery, and performance of this Agreement have been duly authorized by all necessary action of Sellers, and this Agreement is the legal, valid
and binding obligation of Sellers, enforceable against Sellers in accordance with its terms. 
  

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 (c) The execution and delivery by Sellers of this Agreement and the compliance with the terms and
provisions of this Agreement will not result in (i) any violation of any federal, state or local laws, orders or regulations applicable to Sellers, or (ii) subject to Sellers receiving the consent of Comerica to the transactions
contemplated by this Agreement, any violation of, or in conflict with, or breach the terms, conditions or provisions of, or constitute a default under, any agreement, or require or give to others any interest or rights, including rights of
termination, cancellation or acceleration, with respect to any instruments, contracts or agreements, or require any authorization, consent, approval, exemption or other action by, or notice to or filing with, any court, administrative or
governmental body which has not been obtained or given. 
 6. Corporation’s Representations and Warranties. The Corporation
represents and warrants to each Seller as follows: 
 (a) The Corporation has full right, power and authority to execute and deliver this
Agreement and to perform its obligations hereunder. The Corporation’s execution, delivery and performance of this Agreement have been duly authorized by all necessary corporate action, and this Agreement is the legal, valid and binding
obligation of the Corporation, enforceable against the Corporation in accordance with its terms. 
 (b) Neither the execution of this
Agreement, nor the consummation of the transactions contemplated hereby, will constitute or cause a breach or violation of its articles of incorporation or bylaws, or other covenants or obligations binding upon the Corporation or affecting any of
the Corporation’s properties. 
 (c) The execution and delivery by the Corporation of this Agreement and the compliance with the terms
and provisions of this Agreement will not result in (i) any violation of any federal, state or local laws, orders or regulations applicable to Corporation, or (ii) any violation of, or in conflict with, or breach the terms, conditions or
provisions of, or constitute a default under, any loan document mortgage, or other agreement or require or give to others any interest or rights, including rights of termination, cancellation, or acceleration, with respect to any instruments, loan
documents, contracts, or agreements, or require any authorization, consent, approval, exemption, or other action by any court, administrative, or governmental body, which has not been obtained or will be obtained as contemplated by Section 9(a)
below, or require any notice to, or filing with, any court, administrative, or governmental body which has not been obtained or given. 
  

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 (d) The Corporation presently has, and immediately following the consummation of and after giving effect
to, the execution and delivery of this Agreement, will be able to pay its known and reasonably anticipated debts as they become due in the usual course of business, or has or will have total assets which are greater than the sum of its total
liabilities. 
 (e) Except as may be permitted pursuant to the terms of the Asaba LOI, the Corporation is not redeeming the Stock owned by
Sellers for the purpose of immediate resale or has any present intention to sell or otherwise transfer any of the Stock, and has not accepted nor is currently evaluating any written offers to purchase any of the Stock or any substantial portion of
the assets or the business of the Corporation or to merge the Corporation with or into any other entity. 
 7. Survival of
Representations, Warranties and Release. The representations, warranties, agreements and release contained in this Agreement and in any writing or communication delivered pursuant to this Agreement shall survive the execution of this Agreement
and the execution of the documents referred to in, or executed pursuant to, this Agreement, provided, however, that the representations and warranties of the Sellers (other than those set forth in Section 5(a), which shall not
expire) and of the Corporation shall only survive for a period of one (1) year after Closing. 
 8. Closing. The Redemption
transactions contemplated by this Agreement shall close at 12:00 noon on such date as the Bank is prepared to provide funds for the Redemption, but in no event later than July 11, 2008, at the offices of the Corporation in Warren, Michigan (the
“Closing”), or such other place and time as may be mutually agreed upon by the parties. 
 9. Conditions to Close; Deliveries at
Closing; Post-Closing Covenant. 
 (a) Sellers’ obligation to Close is contingent upon the following: 
 (i) No later than 12:00 noon on June 30, 2008, the Corporation shall deliver payment (in the manner set forth in Section 3
hereof) of the Unpaid Dividends and Service Fees; 
 (ii) Sellers shall have received releases from each of Comerica and
Sumitomo and its affiliates in form and substance satisfactory to Sellers releasing and discharging Sellers from any and all obligations as guarantors or otherwise for any payments, debts or other undertakings of the Corporation owing to such
entities; and 
 (iii) All of Purchaser’s representations and warranties under this Agreement shall be true, accurate and
complete in all material respects. 
  

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 (b) As part of the Closing, the following documents shall be delivered and the following actions shall be
taken at or prior to the Closing: 
 (i) Frank Sovis shall execute and deliver his resignation as a director of the
Corporation, effective as of the Closing, in form and substance acceptable to the Corporation; 
 (ii) The Corporation shall
pay off the existing promissory notes and extensions of credit issued by its lenders with amounts as identified in the attached Exhibit B, and obtain from such lenders complete releases in favor of the Corporation, each Seller and guarantors from
their respective obligations and guarantees with respect to such notes and extensions of credit; 
 (iii) The Corporation
shall tender the Purchase Price to be exchanged for each Seller’s shares of the Stock; 
 (iv) Each Seller shall deliver
the certificates and assignments provided for under Section 4 above; and 
 (v) All of Seller’s representations and
warranties under this Agreement shall be true, accurate and complete in all material respects. 
 10. Breach of Agreement. 

(a) In the event Seller or the Corporation, respectively, fails to observe or perform any term of this Agreement within five (5) days after being
notified in writing of such failure, an Event of Default shall be deemed to have occurred. 
 (b) In the event an Event of Default occurs,
then, in addition to any other remedy to which it may be entitled at law, the affected Seller (“Affected Seller”) may declare all obligations of the Corporation under this Agreement owing to the Affected Seller immediately due and payable.

 (c) The Corporation shall reimburse the Affected Seller for any costs, charges and out-of-pocket expenses (including attorneys’ fees
and all expenses of litigation or preparation for litigation for the Affected Seller) paid or incurred by the Affected Seller in connection with the collection and enforcement of this Agreement. 
 (d) In the event a Seller fails to observe or perform any term of this Agreement (the “Breaching Seller”), including, without limitation, being
unable or unwilling to close on the terms and conditions set forth herein (provided that Purchaser is ready, willing and able to perform and all conditions have been satisfied), within five (5) days after being notified in writing of such
failure, in addition to any other remedy to which it may be entitled at law, the Corporation may (i) seek specific performance against the Breaching Seller; and/or (ii) consummate the other transactions contemplated by this Agreement and
pursue its other remedies against the Breaching Seller. 
  

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 (e) Each Breaching Seller, jointly and severally, shall reimburse the Corporation for any costs, charges
and out-of-pocket expenses (including attorneys’ fees and all expenses of litigation or preparation for litigation for the Corporation) paid or incurred by the Corporation in connection with the enforcement of this Agreement. 
 11. Release. 
 (a) Except as limited
below and as set forth in Section 10 regarding defaults in the parties’ obligations under this Agreement, which shall not be released hereby, upon Closing of transactions contemplated by this Agreement (including receipt of all sums
payable to Sellers hereunder) each Seller releases and forever discharges the Corporation, Taylor (in his capacity as a director, officer and shareholder of the Corporation, and otherwise) and each other director, officer and shareholder of the
Corporation, and their successors, assigns, heirs, officers, employees and agents (collectively, the “Corporation Released Parties”) from and against all debts, actions, causes of action, suits, contracts, agreements, damages and any and
all claims, demands and liabilities whatsoever of every kind or nature (all hereinafter collectively referred to as “Claims”) which any one or both of the Sellers has or may have, or ever had against the Corporation Released Parties, and
whether known or unknown, contingent or otherwise, relating to either (i) Seller’s capacity as a shareholder of the Corporation, (ii) the fairness and the adequacy of the consideration received or to be received under this Agreement,
(iii) any claim or future claim of pre-emptive rights or dividend distributions under the Articles of Incorporation of the Corporation, or the Second Amended and Restated Shareholders Agreement dated October 6, 2006 and (iv) any
contractual relationship between the Corporation and a Seller or an affiliate of a Seller that is expressly terminated pursuant to this Agreement. This release shall not apply to Claims arising from (A) any contractual relationship between the
Corporation and a Seller or an affiliate of a Seller that is not terminated pursuant to this Agreement, (B) actions intentionally taken by the Corporation Released Parties constituting fraud, or (C) gross negligence of a material nature.

 (b) Except as limited below and as set forth in Section 10 regarding defaults in the parties’ obligations under this Agreement,
which shall not be released hereby, the Corporation releases and forever discharges each of the Sellers and each of their respective officers, trustees, employees, agents, and beneficiaries, as appropriate, and their successors, assigns, and heirs
(collectively, the “Seller Released Parties”), from and against all Claims which the Corporation has or may have, or ever had against the Seller Released Parties, and whether known or unknown, contingent or otherwise, including, without
limitation, all Claims relating to the operation of the Corporation and its affiliates, any claim arising out of the relationship of any one or more of the parties prior to the Closing, or any related matters. This release shall not apply to Claims
arising from (i) actions intentionally taken by any Seller Released Party constituting fraud, or (ii) gross negligence of a material nature. 
  

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 12. Notice. Any notice given or required to be given under this Agreement shall be proper if in
writing and mailed by registered or certified mail, return receipt requested. Notices shall be sent to the last known address of the intended recipient of which the sender is reasonably aware or of which the sender should be aware. 
 13. Benefit and Assignment. This Agreement shall be binding upon and shall inure to the benefit of the parties, their heirs, legal
representatives, successors and assigns and no party may assign or delegate any of such party’s rights or obligations hereunder without obtaining the prior written consent of all other parties. 
 14. Execution of Supplementary Documents. Each party agrees, upon written notice from any other party, to execute any other agreements, documents
or instruments consistent with this Agreement necessary to carry out the intent of the transaction contemplated in this Agreement. 
 15.
Execution in Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be taken to be an original. 
 16. Entire Agreement. This Agreement, including any other writing or communication delivered pursuant to this Agreement, constitutes the entire agreement and understanding between the parties and supersedes any prior agreement or
understanding relating to the subject matter of this Agreement. 
 17, Gender. Wherever in this Agreement words, including pronouns,
are used in the masculine, they shall be read and construed in the feminine or neuter wherever applicable, and wherever in this Agreement words, including pronouns, are used in the singular or plural they shall be read and construed in the plural or
singular respectively, wherever applicable. 
 18. Modification. No modification of this Agreement shall be binding unless in writing
and signed by all of the parties to this Agreement. 
 19. Governing Law. This Agreement is entered into under, and shall be governed
by and construed in accordance with, the laws of the State of Michigan in the same manner applicable to contracts made and to be performed entirely within such state and without giving effect to choice of law principles of such state. 
 20. Consent to Jurisdiction. The parties hereto consent to the exclusive jurisdiction and venue for the resolution of any disputes arising in
connection with the interpretation or enforcement of this Agreement being in the United States District Court for the Eastern District of Michigan or the State of Michigan District Court located in Macomb County, Michigan. 
  

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 21. Expenses. Except with respect to enforcement of this Agreement as otherwise provided for
above, each party to this Agreement shall bear all expenses and costs incurred by such party in connection with the transactions contemplated in this Agreement. 
 22. Waiver. No waiver of any provision of this Agreement shall be valid unless in writing and signed by the person or party against whom charged. 
 23. Invalid Provision. The invalidity or unenforceability of any particular provision of this Agreement shall not affect the other provisions of
this Agreement, and this Agreement shall be construed as if such invalid or unenforceable provision was omitted. 
 24. Miscellaneous.
This Agreement is the result of a full and complete negotiation at arms length by all parties. Accordingly, no prior draft of this Agreement or its exhibits or schedules prepared by any party, shall be used to construe or interpret any provisions of
the Agreement or exhibits or schedules. The parties to this Agreement expressly acknowledge that this Agreement was jointly drawn with an opportunity to participate by all of the parties and no inference shall therefore be drawn against any party
based upon the identity of the preparer of this Agreement. 
 [SIGNATURES ON FOLLOWING PAGE] 
  

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 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date and year first above written.

  

			
	SELLERS:
	
	 NOBLE MANUFACTURING GROUP, INC.,
 a Michigan
corporation

		
	By:	 	 

		 	Thomas L. Saeli
	Its:	 	Chief Executive Officer
	
	 NOBLE INTERNATIONAL, LTD.,
 a Delaware
corporation

		
	By:	 	 

		 	Thomas L. Saeli
	Its:	 	Chief Executive Officer
	
	CORPORATION:
	
	 SET ENTERPRISES, INC.,
 a Michigan
corporation

		
	By:	 	 

		 	Sid B. Taylor
	Its:	 	Chief Executive Officer

  

 -9- 

 EXHIBIT A 
 PURCHASE PRICE ALLOCATION 
  

				
	 1. 15,200 Series A Preferred Stock, and 6,000 Series B Preferred Stock
	  	$	1,920,999.00
		
	 2. 76.8627 Shares of Common Stock
	  	$	1.00

  

 -10- 

 EXHIBIT B 
 PROMISSORY NOTES AND EXTENSIONS OF CREDIT TO BE DISCHARGED 
  

					
	 1. Comerica Bank Term Note:
	  	$	895,504.85	 
		
	 2. Comerica Bank Revolver:
	  	$
  
	9,312,360.76
 (approximate
	 
 )

		
	 3. Sumitomo Corporation - Accounts Receivable
	  	$	1,333,333.33	 

  

 -11-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00145-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00145-of-00352.parquet"}]]