Document:

Promissory Note

 EXHIBIT 10.1 
 PROMISSORY NOTE 
  

			
	 $5,000,000.00
	  	November 6, 2007

 FOR VALUE RECEIVED, the undersigned, TECSTAR AUTOMOTIVE GROUP, INC. (the
“Maker”), hereby promises to pay to the order of WB QT, LLC (the “Payee”, which term includes any subsequent holder hereof) at Minneapolis, Minnesota or at such other place as the Payee may from time to time
hereafter designate to the Maker in writing the principal sum of FIVE MILLION DOLLARS AND NO CENTS ($5,000,000.00). 
 The unpaid principal
balance hereof from time to time outstanding shall bear interest at the rate of 10% per annum. Interest shall be computed on the basis of actual days elapsed and a year of 360 days. Upon the happening of any Event of Default, this Note, at the
option of the Payee, shall bear interest until paid in full at a rate per annum equal to the rate of interest applicable immediately prior to such Event of Default plus 5%. 
 The principal hereof is payable in consecutive installments of $1,000,000 each, quarterly on the first day of each month commencing on August 1,
2008 through October 1, 2009 and one final payment on November 6, 2009 in the amount of the entire remaining principal balance. 
 Interest hereon shall be payable in arrears on the same days as principal is payable. 
 This note may be prepaid by the Maker at
any time in whole or from time to time in part only with the prior written consent of the Payee. Any partial prepayment shall be applied first against accrued and unpaid interest and the balance shall be applied against the installments hereon in
the inverse order of maturity. 
 This Note is secured by a Security Agreement dated as of January 31, 2007 (as the same has been or may
hereafter be amended, modified or supplemented, or any agreement entered into in substitution or replacement therefor, the “Security Agreement”) and a Pledge Agreement dated as of January 31, 2007 (as the same has been or may
hereafter be amended, modified or supplemented, or any agreement entered into in substitution or replacement therefor, the “Pledge Agreement” and, together with the Security Agreement, collectively the “Security
Documents”), each executed by the Maker and the other grantors party thereto in favor of the Payee. 
 The Maker covenants that,
until the irrevocable payment and performance in full of all of the Maker’s obligations under this Note, the Makers or any of the Maker’s subsidiary companies will not directly or indirectly transfer any assets or property to its parent

 
corporation, Quantum Fuel Systems Technologies Worldwide, Inc. (the “Parent”), or otherwise pay or make any dividend, payment or other
distribution to Parent (each such transfer, dividend, payment or distribution constituting a “Restricted Payment”) other than (a) a payment to Parent of up to $3,000,000 on the date this Note becomes effective to pay
intercompany debt owed to Parent by Maker and (b) on the later of November 20, 2007 or such other date as Payee completes its review of Maker’s final balance sheet for October 31, 2007 (provided that, so long as the
Maker delivers its final balance sheet by December 1, 2007, such review shall be completed no later than December 15, 2007), a payment to Parent to pay intercompany debt owed by the Maker to the Parent in an amount equal to $2,000,000
(a) plus, if Maker’s Net Working Capital as of October 31, 2007 is at least $21,000,000 and its Net Current Assets are at least $18,000,000, the lesser of (1) the amount by which Net Working Capital exceeds $21,000,000 or
(2) the amount by which Net Current Assets exceed $18,000,000 or (b) minus, if Maker’s Net Working Capital as of October 31, 2007 is less than $21,000,000 or its Net Current Assets are less than $18,000,000, the greater of
(1) the amount by which $21,000,000 exceeds Net Working Capital or (2) the amount by which $18,000,000 exceeds Net Current Assets. For purposes of this Note, (y) “Net Working Capital” means the Maker’s accounts
receivable plus its inventory plus its cash (exclusive of $3.5 million of cash paid by Force Protection as a down payment for future work) less its accounts payable and (z) “Net Current Assets” means the
Maker’s current assets less its current liabilities (excluding any amounts owing as of October 31, 2007 under the two certain promissory notes dated as of July 19, 2005 executed by the Maker to AM General, LLC each in the
original principal amount of $750,000), in each case as determined in accordance with generally accepted accounting principals. 
 The
occurrence of any one or more of the following events shall constitute an Event of Default, and upon the occurrence of any Event of Default the Payee may declare this Note to be, and the same shall forthwith become, immediately due and payable and
the Payee may exercise all rights and remedies under the Security Documents and as may otherwise be allowed by law: 
  

	 	(1)	The Maker shall fail to make any payment of principal or interest hereon when due. 

  

	 	(2)	The Maker shall become insolvent or shall generally not pay its debts as they mature or shall apply for, shall consent to, or shall acquiesce in the appointment of a custodian,
trustee or receiver for the Maker or for a substantial part of the property thereof or, in the absence of such application, consent or acquiescence, a custodian, trustee or receiver shall be appointed for the Maker or for a substantial part of the
property thereof; or any bankruptcy, reorganization, debt arrangement or other proceedings under any bankruptcy or insolvency law shall be instituted by or against the Maker. 

  

	 	(3)	Any default shall occur under the terms of the Security Documents and shall continue for more than the period of grace, if any, applicable thereto. 

  

	 	(4)	 A judgment or judgments for the payment of money in excess of the sum of 

  

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$75,000 in the aggregate shall be rendered against the Maker and the Maker shall not discharge the same or provide for its discharge, or procure a stay of
execution thereof, prior to any execution on such judgment, within 30 days from the date of entry thereof, and within said period of 30 days, or such longer period during which execution shall be stayed, appeal therefrom and cause the execution to
be stayed during such appeal. 

  

	 	(5)	Any execution or attachment shall be issued whereby any substantial part of the property of the Maker shall be taken or attempted to be taken and the same shall not have been
vacated or stayed within 30 days after the issuance thereof. 

  

	 	(6)	The Parent or any other guarantor of this Note shall seek to revoke its, his or her guaranty or any such guaranty shall become unenforceable for any reason.

  

	 	(7)	The occurrence, at any time, of the Parent not owning at least 51% of the capital stock of the Maker (a “Change in Control”), provided that any such occurrence
shall not constitute a Change of Control if the Payee is a party to the acquisition or other transaction resulting in such occurrence. 

  

	 	(8)	Any Restricted Payment occurs. 

 In addition to its right
to require immediate payment and each other right provided to Payee pursuant to this Note, the Security Documents or at law, upon the occurrence of a Change in Control, the Maker shall pay the Payee a fee equal to $250,000. 
 THE VALIDITY, CONSTRUCTION AND ENFORCEABILITY OF THIS NOTE SHALL BE GOVERNED BY THE INTERNAL LAWS OF THE STATE OF MINNESOTA, WITHOUT GIVING EFFECT TO
CONFLICT OF LAWS PRINCIPLES THEREOF. 
 AT THE OPTION OF THE PAYEE THIS NOTE MAY BE ENFORCED IN ANY FEDERAL COURT OR MINNESOTA STATE
COURT SITTING IN HENNEPIN COUNTY, MINNESOTA; AND THE MAKER CONSENTS TO THE JURISDICTION AND VENUE OF ANY SUCH COURT AND WAIVES ANY ARGUMENT THAT THE VENUE IN SUCH FORUMS IS NOT CONVENIENT. IF THE MAKER COMMENCES ANY ACTION IN ANOTHER JURISDICTION OR
VENUE UNDER ANY TORT OR CONTRACT THEORY ARISING DIRECTLY OR INDIRECTLY FROM THE RELATIONSHIP CREATED BY THIS NOTE, THE PAYEE AT ITS OPTION SHALL BE ENTITLED TO HAVE THE CASE TRANSFERRED TO ONE OF THE JURISDICTIONS AND VENUES ABOVE-DESCRIBED, OR, IF
SUCH TRANSFER CANNOT BE ACCOMPLISHED UNDER APPLICABLE LAW, TO HAVE SUCH CASE DISMISSED WITHOUT PREJUDICE. 
 The Maker hereby waives
presentment for payment, notice of dishonor, protest and notice of protest. 
 If this Note is not paid when due, the Maker shall pay all of
the Payee’s costs of 

  

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collection including reasonable attorneys’ fees. 
  

			
	MAKER:
	
	Tecstar Automotive Group, Inc.
		
	By:	 	/s/ Kenneth R. Lombardo
	Name:	 	Kenneth R. Lombardo
	Its:	 	Secretary

  

 4Second Amendment to Convertible Note Purchase Agreement

 EXHIBIT 10.2 
 SECOND AMENDMENT TO CONVERTIBLE SENIOR SUBORDINATED NOTE 
 PURCHASE AGREEMENT 
 This SECOND AMENDMENT TO CONVERTIBLE SENIOR SUBORDINATED NOTE PURCHASE AGREEMENT (this “Amendment”), made and entered into as of
November 6, 2007, is by and between Tecstar Automotive Group, Inc. (f/k/a Starcraft Corporation), an Indiana corporation (the “Company”), and Whitebox Convertible Arbitrage Partners L.P., Whitebox Hedged High Yield Partners
L.P., Pandora Select Partners L.P. and Whitebox Intermarket Partners L.P. (collectively, the “Purchasers”). 
 RECITALS

 1. The Purchasers and the Company entered into a Convertible Senior Subordinated Note Purchase Agreement dated as of July 12,
2004, as amended by a First Amendment to Note Purchase Agreement dated as of January 31, 2007 (as so amended, the “Note Purchase Agreement”); and 
 2. The Company desires to amend certain provisions of the Note Purchase Agreement, and the Purchasers has agreed to make such amendments, subject to the terms and conditions set forth in this Amendment. 
 AGREEMENT 
 NOW, THEREFORE, for
good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto hereby covenant and agree to be bound as follows: 
 Section 1. Capitalized Terms. Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to them in the Note Purchase Agreement, unless the context shall
otherwise require. 
 Section 2. Amendments. The Note Purchase Agreement is hereby amended as follows: 
 2.1 Financial Covenants. Section 7.6(a) of the Note Purchase Agreement is amended by amending subsection
(xxii) thereof to read in its entirety as follows: 
 (xxii) “Senior Indebtedness” of Quantum and its
subsidiaries means the principal of, premium (if any) and accrued and unpaid interest on (including interest accruing on or after the filing of any petition in bankruptcy or for reorganization of Quantum or any subsidiary, regardless of whether or
not a claim for post-filing interest is allowed in such proceedings) and fees and other amounts owing in respect of, Bank Indebtedness and all 

 
other Indebtedness of Quantum and its subsidiaries whether outstanding on the Closing Date or thereafter Incurred, if in the instrument creating or
evidencing the same or pursuant to which the same is outstanding it is provided that such obligations are superior in right of payment to the Senior Subordinated Indebtedness; provided, however, that in any case, Senior Indebtedness shall not
include (a) any obligation of Quantum or any subsidiary to another subsidiary of Quantum, (b) any liability for federal, state, local or other taxes owed or owing by Quantum or any subsidiary, (c) any accounts payable or other
liability to trade creditors arising in the ordinary course of business (including Guarantees thereof or instruments evidencing such liabilities), (d) any Indebtedness or obligation of Quantum or a subsidiary (and any accrued and unpaid
interest in respect thereof) that by its terms is subordinated or junior in right of payment to any other Indebtedness or obligation of Quantum or a subsidiary, including any Senior Subordinated Indebtedness, (e) any obligations with respect to
any Capital Stock, (f) any obligations not secured by assets of Quantum or any subsidiary, or (g) any amounts owing by Tecstar Automotive Group, Inc. to WB QT, LLC pursuant to that certain promissory tnoe dated as of November 6, 2007
in the original principal amount of $5,000,000, and any other notes executed by Tecstar Automotive Group, Inc. in favor of WB QT, LLC in an amount up to[$10,000,000] in the aggregate. 
 Section 3. Effectiveness of Amendments. The amendments contained in this Amendment shall become effective upon execution and
delivery by the Company of the Amendment. 
 Section 4. Representations, Warranties, Authority, No Adverse Claim.

 4.1 Reassertion of Representations and Warranties, No Default. The Company hereby represents that on
and as of the date hereof and after giving effect to this Amendment (a) except as set forth in any SEC Reports since the Closing Date, all of the representations and warranties contained in the Note Purchase Agreement are true, correct and
complete in all material respects as of the date hereof as though made on and as of such date, except for changes permitted by the terms of the Note Purchase Agreement and except to the extent such representations and warranties specifically refer
to a prior date in which case such representations and warranties shall have been true, correct and complete as of such prior date, and (b) there will exist no Event of Default under the Note Purchase Agreement as amended by this Amendment on
such date which has not been waived by the Purchasers. 
 4.2 Authority, No Conflict, No Consent Required.
The Company represents and warrants that the Company has the power and legal right and authority to enter into the Amendment Documents and has duly authorized as appropriate the execution and delivery of the Amendment Documents and other
agreements and documents executed and delivered by the Company in connection herewith or therewith by proper corporate action, and none of the Amendment Documents nor the agreements contained herein or therein contravenes or constitutes a default
under any agreement, instrument or indenture to which the Company is a party or a signatory or a provision of the Company’s Articles 

  

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of Incorporation, Bylaws or any other agreement or requirement of law, or result in the imposition of any Lien on any of its property under any agreement
binding on or applicable to the Company or any of its property except, if any, in favor of the Purchasers. The Company represents and warrants that no consent, approval or authorization of or registration or declaration with any person, including
but not limited to any governmental authority, is required in connection with the execution and delivery by the Company of the Amendment Documents or other agreements and documents executed and delivered by the Company in connection therewith or the
performance of obligations of the Company therein described, except for those which the Company has obtained or provided and as to which the Company has delivered certified copies of documents evidencing each such action to the Purchasers.

 4.3 No Adverse Claim. The Company warrants, acknowledges and agrees that no events have been taken
place and no circumstances exist at the date hereof which would give the Company a basis to assert a defense, offset or counterclaim to any claim of the Purchasers with respect to the Company’s obligations under the Note Purchase Agreement as
amended by this Amendment. 
 Section 5. Affirmation of Note Purchase Agreement, Further References. The Purchasers and
the Company each acknowledge and affirm that the Note Purchase Agreement, as hereby amended, is hereby ratified and confirmed in all respects and all terms, conditions and provisions of the Note Purchase Agreement, except as amended by this
Amendment, shall remain unmodified and in full force and effect. All references in any document or instrument to the Note Purchase Agreement are hereby amended and shall refer to the Note Purchase Agreement as amended by this Amendment. 

Section 6. Merger and Integration, Superseding Effect. This Amendment, from and after the date hereof, embodies the entire
agreement and understanding between the parties hereto and supersedes and has merged into this Amendment all prior oral and written agreements on the same subjects by and between the parties hereto with the effect that this Amendment, shall control
with respect to the specific subjects hereof and thereof. 
 Section 7. Severability. Whenever possible, each provision
of this Amendment and the other Amendment Documents and any other statement, instrument or transaction contemplated hereby or thereby or relating hereto or thereto shall be interpreted in such manner as to be effective, valid and enforceable under
the applicable law of any jurisdiction, but, if any provision of this Amendment, the other Amendment Documents or any other statement, instrument or transaction contemplated hereby or thereby or relating hereto or thereto shall be held to be
prohibited, invalid or unenforceable under the applicable law, such provision shall be ineffective in such jurisdiction only to the extent of such prohibition, invalidity or unenforceability, without invalidating or rendering unenforceable the
remainder of such provision or the remaining provisions of this Amendment, the other Amendment Documents or any other statement, instrument or transaction contemplated hereby or thereby or relating hereto or thereto in such jurisdiction, or
affecting the effectiveness, validity or enforceability of such provision in any other jurisdiction. 
  

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 Section 8. Successors. The Amendment Documents shall be binding upon the
Company and the Purchasers and their respective successors and assigns, and shall inure to the benefit of the Company and the Purchasers and the successors and assigns of the Purchasers. 
 Section 9. Headings. The headings of various sections of this Amendment have been inserted for reference only and shall not be
deemed to be a part of this Amendment. 
 Section 10. Counterparts. The Amendment Documents may be executed in several
counterparts as deemed necessary or convenient, each of which, when so executed, shall be deemed an original, provided that all such counterparts shall be regarded as one and the same document, and either party to the Amendment Documents may execute
any such agreement by executing a counterpart of such agreement. 
 Section 11. Governing Law. THE AMENDMENT DOCUMENTS SHALL BE
GOVERNED BY THE INTERNAL LAWS OF THE STATE OF MINNESOTA, WITHOUT GIVING EFFECT TO CONFLICT OF LAW PRINCIPLES THEREOF. 
 [The remainder of
this page is intentionally left blank.] 
  

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 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed as of the date
and year first above written. 
  

									
	COMPANY:	 		 	TECSTAR AUTOMOTIVE GROUP, INC.
					
		 		 		 	By:	 	/s/ Kenneth R. Lombardo
		 		 		 	Name:	 	Kenneth R. Lombardo
		 		 		 	Its:	 	Secretary
			
	PURCHASERS:	 		 	WHITEBOX CONVERTIBLE ARBITRAGE PARTNERS L.P.
					
		 		 		 	By:	 	/s/ Andrew J. Redleaf
		 		 		 	Name:	 	Andrew J. Redleaf
		 		 		 	Its:	 	CEO
			
		 		 	WHITEBOX HEDGED HIGH YIELD PARTNERS L.P.
					
		 		 		 	By:	 	/s/ Andrew J. Redleaf
		 		 		 	Name:	 	Andrew J. Redleaf
		 		 		 	Its:	 	CEO
			
		 		 	PANDORA SELECT PARTNERS L.P.
					
		 		 		 	By:	 	/s/ Andrew J. Redleaf
		 		 		 	Name:	 	Andrew J. Redleaf
		 		 		 	Its:	 	CEO

  

 S-1 
 [Signature Page to Second Amendment to NPA] 

			
	WHITEBOX INTERMARKET PARTNERS L.P.
		
	By:	 	/s/ Andrew J. Redleaf
	Name:	 	Andrew J. Redleaf
	Its:	 	CEO

  

 S-2 
 [Signature Page to Second Amendment to NPA]

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