Document:

exhibit10102.htm

    
       

      
        

        

      

      Exhibit
        10.102

       

      SmarTire
        Systems Inc.

      
        Suite
          150, 13151 Vanier Place

        Richmond,
          British Columbia

        Canada,
          V6V 2J1

         

        T:
          604.276.9884

        F:
          604.276.2350

        www.smartire.com

        SMTR:
          OTCBB

        

        

        February
          28, 2007

        

        

        

        Al
          Kozak

        25841
          116
          Avenue

        Maple
          Ridge, BC,

        V4R
          1Z6

        

        Dear
          Al,

        

        As
          you
          are aware SmarTire Systems Inc., has been experiencing some severe financial
          difficulties over the last number of months, and has therefore been unable
          to
          continue your severance payments past the December 15, 2007
          payroll.

        

        After
          discussions between Dave Warkentin and yourself, we have come to the following
          settlement agreement that discharges the outstanding severance owed to
          you by
          the company.

        

        Agreed
          Settlement:

        

        We
          will
          pay three blocks of shares to you as follows:

        

        
          	
                  A)  

                	
                  Shares
                    equivalent to CDN $10,000 payable by March 7,
                    2007.

                

        

        
          	
                  B)  

                	
                  Shares
                    equivalent to CDN $20,000 payable by April 15 2007, using the
                    last five
                    trading days of March 2007.

                

        

        
          	
                  C)  

                	
                  Shares
                    equivalent to CDN $20,000 payable by May 11,
                    2007.

                

        

        

        In
          each
          case the value of each share will be based on the average of the prior
          month’s
          last five trading days of the closing price of the company’s common
          stock.

        

        You
          will
          be responsible for paying the taxes on the fair value of these shares (“your
          cost”), deemed to be the closing price on the day prior to the date of the
          issuance of these shares multiplied by the number of common shares you
          receive,
          as this amount will be included in your 2007 T4.  Please also note
          that should you sell these shares at a higher price than your cost, you
          will
          also be responsible for paying capital gains tax on your gain.

        

        The
          Company will continue to provide benefits coverage excluding long-term
          disability, until April 12, 2007.

        

        You
          may
          continue to exercise any stock options that have been granted and have
          vested
          until May 30, 2007, after which any unexercised stock options will be
          forfeited.

         

        At
          the
          end of this letter is a Release Agreement stating that you understand and
          are in
          agreement with the terms as set out in this letter.  After you have
          had an opportunity to carefully review the contents of this letter please
          sign
          the release and return it to myself.

         

        

        

        Sincerely,

        

        /s/
          Jeff
          Finkelstein

        Jeff
          Finkelstein

        Chief
          Financial Officer

        SmarTire
          Systems Inc.exhibit10103.htm

     

    
      

      

    

    Exhibit
      10.103

     

    SmarTire
      Systems Inc.

    
      Suite
        150, 13151 Vanier Place

      Richmond,
        British Columbia

      Canada,
        V6V 2J1

       

      T:
        604.276.9884

      F:
        604.276.2350

      www.smartire.com

      SMTR:
        OTCBB

      

      

      R
        E L E A S E

       

      

       

       

      
        	
                 

              	
                IN
                  CONSIDERATION of points A-C in the letter from Jeff Finkelstein
                  dated
                  February 28, 2007,I

              

      

      

      AL
        KOZAK,
        residing at 25841 116 Avenue, in the City of Maple Ridge, in the Province
        of
        British

      

      Columbia,
        agree that this shall constitute full and final settlement of outstanding
        severance

      

      owed
        by
        us to you and that you will release and discharge us from all claims, debts,
        obligations,

      

      demands,
        rights, liens, charges, lawsuits, and causes of action arising out of your
        termination.

      

      

      DATED
        at
        the Municipality of Richmond, in the Province of British Columbia,
        this 28th
        day of February, 2007.

       

      

      
        	
                SIGNED,
                  SEALED and DELIVERED by AL KOZAK in the presence of:

                Signature:    
                  /s/ Kim Stobbe

                Print
                  Name:   KIM STOBBE

                Address:      
                  37191 Kilgard Rd., Abbotsford, B.C.

                Occupation: 
                  Log Home Builder

              	
                )

                )

                )

                )

                )

                )

                )

                )

                )

                )

                )

                )

                )

              	
                /s/
                  Al Kozak

                AL
                  KOZAKexhibit10104.htm

    
      

      

    

    Exhibit
      10.104

    

    

    

    

    

    May
      24,
      2007

    

    

    SmarTire
      Systems Inc.

    13151
      Vanier Place, Suite 150

    Richmond,
      British Columbia

    V6V
      2J1

    

    

    Re:
      May 27 2005 $1.5 million 5% convertible debenture

    

    

    With
      respect to the $125,000 monthly payments that, under the terms of the above
      referenced convertible debenture, were scheduled to commence on September 1,
      2005, which such payment commencement date has been
      previously  extended (i) on October 21, 2005 to January 1, 2006 (ii)
      on January 3, 2006 to April 1, 2006 (iii) on April 3, 2006 to May 1, 2006,
      (iv)
      on May 1, 2006 to August 1, 2006, (v) on July 31, 2006 to November 1, 2006,
      (vi)
      on December 15, 2006 to March 31, 2007,(vii) on March 24, 2007 to May 31, 2007,
      Cornell agrees to provide SmarTire with a further extension to July 31, 2007
      to
      commence such monthly payments.

    

    

    Yours
      very truly,

    

    Cornell
      Capital Partners, LP

    

    /s/
      David Gonzalez

    David
      Gonzalez

    Managing
      Partner & General Counselexhibit10105.htm

    
      

      

    

     

    
      

      

    

    Exhibit
      10.105

     

     

    
      May
        24,
        2007

      

      SmarTire
        Systems Inc.

      13151
        Vanier Place, Suite 150

      Richmond,
        British Columbia

      V6V
        2J1

      

      Re:
        Registration rights on financial instruments held by Cornell Capital Partners,
        LP (“Cornell”), Starome Investments Limited (“Starome”),
        Xentennial Holdings Limited (“Xentennial”) and Staraim Enterprises
        Limited (“Staraim”)

      

      The
        following financial instruments are held by the entities identified
        below:

      

      
        	
                Date
                  of Instrument

              	
                Financial
                  Instrument

              	
                Amount

              	
                Held
                  by

              
	
                March
                  22 05

              	
                5%
                  convertible preferred stock and warrants

              	
                $    4.0
                  million

              	
                Cornell

              
	
                May
                  27 05

              	
                5%
                  convertible debenture and warrants

              	
                $    1.5
                  million

              	
                Cornell

              
	
                Dec.
                  30 05

              	
                10%
                  convertible debenture and warrants

              	
                $    8.0
                  million

              	
                Xentennial

              
	
                Dec.
                  30 05

              	
                10%
                  convertible debenture and warrants

              	
                $   20.0
                  million

              	
                Starome

              
	
                Dec.
                  30 05

              	
                10%
                  convertible debenture and warrants

              	
                $    2.0
                  million

              	
                Staraim

              

      

      

      On
        January 11, 2006, SmarTire filed with the SEC a registration statement on
        Form
        SB-2, as amended (the “Registration Statement”).  The
        Registration Statement was not declared effective on or before May 11, 2006,
        resulting in SmarTire being in non-compliance with Section 2 of the financial
        instruments and related agreements identified above (the “Financial
        Instruments”).

      

      Each
        of
        Cornell, Starome, Xentennial and Staraim agrees that an Event of Default
        (as
        defined in the applicable Financial Instrument) has not occurred as a result
        of
        the Registration Statement not being declared effective by the SEC and each
        of
        Cornell, Starome, Xentennial and Staraim waives any and all of its rights
        under
        the applicable default provisions of the Financial Instruments affected by
        this
        non-compliance. 

      

      

      Yours
        very truly,

      

      
        	
                Cornell
                  Capital Partners, LP

                 

                /s/
                  David Gonzalez

                By:  David
                  Gonzalez

                Its:  Managing
                  Partner & General Counsel

                 

                 

              	
                Starome
                  Investments Limited

                 

                /s/
                  Michael Weiss

                By:
                  Michael Weiss

                Its:  Director

              	
                Staraim
                  Enterprises Limited

                 

                /s/
                  David Gonzalez

                By:
                  David Gonzalez

                Its:  Member

              
	
                 

                 

                 

                 

                 

                 

                 

                Agreed
                  and Acknowledged on May 24, 2007

                 

                SmarTire
                  Systems Inc.

                 

                By:  /s/
                  Jeff Finkelstein

                By:
                  Jeff Finekelstein

                Its:  Chief
                  Financial Officer

              	 	
                 

                Xentennial
                  Holdings Limited

                 

                /s/
                  David Gonzalez

                By:
                  David Gonzalez

                Its:  Member

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