Document:

Exhibit

Exhibit 10.3
AWARD AGREEMENT
SENSATA TECHNOLOGIES HOLDING N.V. 
(the "Company")
RESTRICTED STOCK UNITS
Date: MM/DD/YY
Issue to:
Name ("Participant")

#,### Restricted Stock Units of the Company (the “Units”).  Each Unit represents the right to receive one share of Ordinary Share, par value €0.01 per Ordinary Share.
The foregoing Units are "Other-Stock-Based Awards" as such term is defined in the Sensata Technologies Holding N.V. 2010 Equity Incentive Plan ("Plan"), and such Units are subject to all of the terms and conditions of the Plan in effect from time to time, except as otherwise provided herein.  Any capitalized term used herein and not otherwise defined shall have the meaning ascribed to such term in the Plan.
The foregoing Units will be subject to time vesting and will time vest only so long as Participant remains employed by the Company or one of its Subsidiaries. The foregoing Units will time vest on each date set forth below with respect to the cumulative percentage of Units that is set forth opposite such date, provided that the Participant is, and has been, continuously employed by the Company or any of its Subsidiaries from the date of award through such determination date:
	
			
	 
Date

	 
	Cumulative Percentage of Restricted Stock Units Vested

	MM/DD/YY
	 
	100%

	 
	 
	 

	 
	 
	 

If Participant ceases to be employed by the Company or any of its Subsidiaries prior to any date set forth above, Participant's unvested Units shall not vest and such unvested Units shall be cancelled on the Termination Date. 

In the event of a Change in Control, if a Participant is terminated without Cause within 24 months thereafter, all of such Participant’s RSUs shall be considered 100% vested.

	
			
	 
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For valuable consideration, receipt of which is acknowledged, Participant agrees to the following additional terms and conditions:
		
	1.
	Non-Transferability.  Units may not be Transferred.

		
	2.
	No Dividends.  Participant shall not be entitled to receive dividends or dividend equivalents with respect to the number of Ordinary Shares covered by the Units.

		
	3.
	No Security Holder Rights.  Participant shall have no rights as a security holder with respect to the Ordinary Shares issuable upon vesting thereof until the earlier of the date on which such Ordinary Shares are identified on the share register(s) of the Company and the date on which a certificate is issued to such Participant representing such Ordinary Shares.  

		
	4.
	Taxes.  The Participant acknowledges that the Company has the right to require Participant to remit to the Company an amount sufficient to satisfy his or her minimum federal, state, local and foreign withholding tax requirements, or to deduct from all payments under the Plan amounts sufficient to satisfy such minimum withholding tax requirements.  Participant further acknowledges that the ultimate liability for all federal, state, local and foreign income taxes, social insurance, payroll tax, or other tax-related items related to the Participant’s participation in the Plan is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company.  

		
	5.
	Withholding.  Participant authorizes the Company and/or its Subsidiaries, or their respective agents, at their discretion, to satisfy the Participant’s tax obligations that must be withheld by the Company and/or its Subsidiaries by withholding in Ordinary Shares to be issued upon vesting of the Units, or in the sole discretion of the Company, by any other appropriate method.

		
	6.
	Data Protection.  Participant consents to the collection and processing of Personal data relating to the Participant so that the Company and its Affiliates can fulfill their obligations and exercise their rights under the Plan and generally administer and manage the Plan.  “Personal data” shall include but may not be limited to, data about participation in the Plan and securities offered or received, purchased or sold under the Plan from time to time and other appropriate financial and other data (such as the date on which the Units were granted, Participant’s name and address) about the Participant and his or her participation in the Plan.  Participant accepts that the Personal data will be administered and processed by the Company or any other agent or person designated by the Company.  Participant is entitled to request access to the data referring to the Participant and held by the Company and to request the amendment or deletion of such data.  Participant also gives express consent to the Company to transfer and process his/her Personal data to the United States in accordance with the applicable laws and regulations of the United States even if the level of Personal data protection in the United States may be lower than in the Participant’s country. Participant acknowledges that he/she is free to withdraw his/her consent at any time.

	
			
	 
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	7.
	Language.  Participant acknowledges that the Plan and Award Agreement are provided in English only and waives his/her right to translated Plan documentation.

		
	8.
	Discretionary Nature of Benefit; No Right to Continued Employment; No Entitlement to Future Awards. Participant understands that under the Award Agreement, grants of Units are made at the complete discretion of the Company pursuant to the Plan.  The offer to participate in the Plan does not constitute an acquired right.  Nothing in this Award Agreement shall confer on any Participant any right to continue in the employment of the Company or its Subsidiaries or interfere in any way with the right of the Company or its Subsidiaries to terminate such Participant’s employment at any time for any reason or to continue such Participant’s present (or any other) rate of compensation. The grant of an Award to any Participant is a one-time benefit and shall not create any rights in such Participant to any subsequent Awards by the Company, no Award hereunder shall be considered a condition of such Participant’s employment, and no profit with respect to an Award shall be considered part of such Participant’s salary or compensation under any severance statute or other applicable law.

		
	9.
	Non-Compete/Non-Solicit.  Notwithstanding the aforementioned, Participant agrees that for a period of twelve (12) months after Termination, Participant will not directly or indirectly, as an individual proprietor, partner, stockholder, officer, employee, director, joint venturer, investor, lender, consultant, or in any other capacity whatsoever: 

		
	i.
	 provide services to or be employed by any competing business or develop, design, produce, market, sell or render (or assist any person or entity in developing, designing, producing, marketing, selling or rendering) products or services competitive with those developed, designed, produced, marketed, sold or rendered by Company or one of its Subsidiaries while Participant was employed by Company or one of its Subsidiaries;

		
	ii.
	solicit, divert or take away or attempt to divert or to take away, the business or patronage of any of the clients, customers or accounts or prospective clients, customers or accounts of Company or one of its Subsidiaries; or

		
	iii.
	recruit, solicit or hire any employee of Company or one of its Subsidiaries or induce or attempt to induce any employee of Company or one of its Subsidiaries to terminate or cease his or her employment with Company or one of its Subsidiaries.

		
	10.
	This agreement may be executed in one or more counterparts (including by means of telecopied signature pages), all of which taken together shall constitute one and the same agreement.

*    *    *    *

	
			
	 
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IN WITNESS WHEREOF, the Company, acting by and through its duly authorized officers, has executed this agreement effective as of the date first above written.

SENSATA TECHNOLOGIES HOLDING N.V.

By:
___________________________
 
Name:     Martha Sullivan    
 
Title:    CEO
Accepted and Agreed:

____________________________
 
Name

	
			
	 
	4cool_ex1049.htm

EXHIBIT 10.49
 
SETTLEMENT AGREEMENT
 
This Settlement Agreement (this "Agreement") shall be effective as of April 20, 2016 (the "Effective Date") by and between PEAK FINANCE, LLC ("PEAK") on the one hand and HPEV, INC. ("HPEV" or the "Company")) and TIMOTHY J. HASSETT ("Hassett"), QUENTIN D. PONDER ("Ponder"), JUDSON W. BIBB III ("Bibb"), THEODORE H. BANZHAF ("Banzhaf"), AND MARK M. HODOWANEC ("Hodowanic") (collectively the "Individual Defendants") on the other had; each of PEAK, HPEV and the Individual Defendants, individually a "Party" or collectively, the "Parties".1
 
WHEREAS, Spirit Bear Limited ("Spirit Bear") and HPEV are parties to that certain Securities Purchase Agreement, dated as of December 14, 2012 (the "Purchase Agreement"), pursuant to which, among other things, Spirit Bear was issued preferred stock and warrants;
 
WHEREAS a dispute arose between Spirit Bear and HPEV in connection with the Purchase Agreement and other matters involving the ongoing management and operations of HPEV (the "Spirit Bear Dispute");
 
WHEREAS, as a result of the Spirit Bear Dispute, Spirit Bear, HPEV and the Individual Defendants became involved in litigation including derivative claims filed by Spirit Bear against certain directors and/or officers of HPEV, including the Individual Defendants, (the "SBL Derivative Action") in HPEV, Inc. v. Spirit Bear Limited 13-cv-01548 (JAD) (GWF)(D. NEV.);
 
WHEREAS Spirit Bear, HPEV and the director/officer defendants in the SBL Derivative Action entered into a Derivative Action Settlement Agreement (the "DASA") which agreement is subject to final approval of the United States District Court;
 
WHEREAS on October 22, 2015, PEAK filed a Motion to Intervene in the SBL Derivative Action seeking, among other things, approval to file its own derivative complaint in the SBL Derivative Action;
 
WHEREAS at the November 20, 2015 fairness hearing in the SBL Derivative Action, the Court denied PEAK's Motion to Intervene.
 
WHEREAS, at the November 20, 2015 fairness hearing, however, the Court did allow PEAK to formally argue its objections to the DASA and the Court ordered additional briefing on certain issues which has now been completed.
_____________________ 
1 Defendants Hassett, Ponder and Bibb are sometimes collectively referred to as the "Management Directors." Defendants Hassett, Ponder, Bibb, Banzhaf and Hodowanic are sometimes referred to as the Management Officer s and Directors."
 
	 
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WHEREAS the Court has not yet ruled as to whether to approve the DASA;
 
WHEREAS on August 31, 2015, the Company received notice of a summons and complaint in the matter styled Peak Finance, LLC, Derivatively on Behalf of Nominal Defendant, HPEV, Inc. v. Hassett, et al., No. 2:15-cv-01590-GMN-CWH, filed in the United States District Court for the District of Nevada (the "Peak Finance Derivative Case").
 
WHEREAS on October 22, 2015, PEAK filed an amended complaint in the Peak Finance Derivative Case.
 
WHEREAS HPEV and the Individual Defendants in the Peak Finance Derivative Case, on November 9, 2015, filed a motion to dismiss the amended complaint filed by PEAK on October 22, 2015, which motion is pending before the Court.
 
WHEREAS the Parties wish to enter into this Agreement to resolve with finality all disputes, claims and allegations among the Parties and their respective affiliates in connection with the SBL Derivative Action and the Peak Finance Derivative Case.
 
NOW, THEREFORE, in consideration of the promises and the mutual covenants and agreements hereinafter set forth and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereto agree as follows:
 
I. WITHDRAWAL OF OBJECTION TO THE DASA
 
Immediately upon execution of this Agreement, the Parties shall execute and file in the SBL Derivative Action a Stipulation and [Proposed] Order wherein PEAK will seek to withdraw its objection to the DASA. The Stipulation and [Proposed] Order is attached hereto as Exhibit A.
 
II. STIPULATION REGARDING SETTLEMENT OF PEAK FINANCE DERIVATIVE CASE
 
Within five (5) days of execution of this Agreement, the Parties shall execute and file in the Peak Finance Derivative Case a Stipulation and [Proposed] Order Regarding Settlement and Dismissal of Derivative Claims attached hereto as Exhibit B.
 
III. SETTLEMENT OF PEAK FINANCE DERIVATIVE CASE
 
The Parties agree to seek a complete dismissal with prejudice of the Peak Finance Derivative Case on the following terms:
 
	 
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A. The IDC.
 
		1. 	The Parties acknowledge and agree that Christopher McKee, Richard J. "Dick" Schul and Donald Bowman have been duly elected as directors of HPEV pursuant to an election held on August 19, 2015.

			
		2. 	The Parties acknowledge and agree that Christopher McKee, Richard J. "Dick" Schul and Donald Bowman have been appointed to an Independent Directors Committee ("IDC") which shall review the merits of Spirit Bear's derivative claims as set forth in the SBL Derivative Action;

			
		3. 	In addition to reviewing the merits of Spirit Bear's claims in the SBL Derivative Action, all matters alleged by PEAK in the Peak Finance Derivative Case shall also be presented to the IDC for their review of the merits of the claims made therein;

			
		4. 	Exercising their sound business judgment, the IDC shall determine the appropriate corporate response of HPEV to the claims raised in both the SBL Derivative Action and the Peak Finance Derivative Case, including but not limited to (a) ratification of any and all actions previously undertaken under the authority of the Management Directors; (b) filing a lawsuit against any and all Management Officers & Directors setting forth similar or identical claims as those set forth in the SBL Derivative Action and/or the Peak Finance Derivative Case; (c) settling, with or without litigation, any and all claims HPEV may have against any and all Management Officers & Directors on terms and conditions they deem in the best interest of HPEV; and/or (d) taking such other action as they determine is in the best interest of HPEV; and

			
		5. 	IDC action shall be deemed valid and enforceable if undertaken pursuant to a majority vote of the IDC although the number of IDC members may not be a quorum of all directors of HPEV. No action by the IDC in connection with its duties and responsibilities pursuant to this Agreement, shall be taken until such time as the IDC meets with PEAK, pursuant to Sections III.B and C, below

 
B. Meeting With IDC
 
Within thirty days of the Court's final approval of this Agreement, PEAK, through its duly authorized representative(s), including Bhavin Shah ("Shah"), shall be given the opportunity to meet solely with the IDC in New York City or Washington D.C. or some other location on the East Coast for no more than three and one-half hours in order that Mr. Shah be able to make a presentation solely to the IDC regarding the matters alleged in PEAK's amended complaint in the Peak Finance Derivative Case as well as other potential derivative claims Shah believes may exist against HPEV's auditors and/or other third persons or entities. The IDC shall investigate and render its independent business judgment regarding such claims. The Parties understand and agree that there is no guarantee that the Board or the IDC will recommend instituting any litigation regarding the claims made by PEAK and/or Shah. A Party shall have the right to have the meeting transcribed by a court reporter.
 
	 
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C. Business Development and Financing
 
The Parties acknowledge that HPEV is in need of capital investment and that the pending derivative actions have been detrimental in HPEV's ability to raise such additional capital. The Parties agree that PEAK and/or Shah shall have the opportunity to present the following matters to the Board:
 
		1. 	the opportunity for PEAK to make an investment in the Company in exchange for some form of debt or equity or other consideration, terms to be negotiated;

			
		2. 	the opportunity for PEAK and/or Shah to identify and aid in procuring new investors for the Company and to discuss possibly entering into an exclusive or non-exclusive financial development agreement, terms to be negotiated; and

			
		3. 	the opportunity for PEAK and/or Shah to enter into a business development agreement with the Company.

 
There is no agreement between or among the Parties that any of the above and foregoing opportunities shall lead to any future agreement between the Parties. The commitment set forth herein is that HPEV shall give PEAK and/or Shah a full and fair opportunity to present their proposals to a quorum of the entire Board for the Board's consideration. Any such proposals may be accepted or rejected, in whole or in part, without being deemed a breach of this Agreement. The meeting with the Board shall be held the same day and immediately following the meeting set forth in Section III.B above. PEAK shall be required to submit any and all proposals for financing or investment, a proposed financial development agreement and/or a business development agreement to the Board at least three (3) business days prior to the meeting. . The meeting set forth herein Section III.C is not subject to the three and one-half hours time limitation as set forth in Section III.B, above.
 
IV. SETTLEMENT AND RELEASE
 
A.Definitions
 
		1. 	"Released Persons" means each and all of the individuals named in the SBL Derivative Action and the Peak Finance Derivative Case, HPEV, each and all of the current and former officers, directors and employees of HPEV, and, for each of the foregoing individuals and entities, each and all of their respective officers, directors, employees, agents, representatives, experts, consultants, members, attorneys, insurers, heirs, executors, personal or legal representatives, estates, administrators, predecessors, successors and assigns.

			
		2. 	"Releasing Persons" means PEAK and each and all of its employees, agents, representatives, experts consultants, attorneys, insurers, heirs beneficiaries, executors, personal or legal representatives, estates, administrators, predecessors, successors and assigns.

			
		3. 	"Settled Claims" means all claims, debts, demands, rights, actions or causes of action, liabilities, damages, losses, obligations, judgments, suits, fees, expenses, costs, matters and issues of any kind or nature whatsoever, whether known or unknown, contingent or absolute, suspected or unsuspected, disclosed or undisclosed, matured or unmatured, at any point from the beginning of time through the date of this Agreement, that have been, could have been asserted by any of the Releasing Persons derivatively on behalf of HPEV (or by HPEV directly), in any court, tribunal or proceeding whether legal, equitable or any other type, which have arisen, arise now or hereafter arise out of, the allegations, facts, events, practices, conduct, transactions, matters, acts, occurrences, statements, representations, misrepresentations or omissions at issue in, or any fees, expenses or costs incurred in prosecuting, defending, or settling the matters raised in the SBL Derivative Action and the Peak Finance Derivative Case, provided, however, that the Settled Claims shall not include the right to enforce the terms of this Agreement.

 
	 
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B. Release:
 
In exchange for the relief set forth in Sections I-III, all and every one of the Settled Claims by Releasing Persons against Released Persons are completely, fully, finally and forever compromised, settled, released, discharged, and extinguished with prejudice, upon and subject to the terms and conditions set forth herein.
 
V. MISCELLANEOUS 
 
A. Public Announcements; Non-disparagement.
 
Each of the Parties agrees that it shall not make any public disparaging statements regarding the other regarding the Agreement; and the text of any press release, public filing, or other disseminated announcement or explanation of this Agreement shall be mutually agreed to in writing prior to release; provided however that HPEV is authorized to file a Form 8-K with the Securities and Exchange Commission which does no more than announce a settlement of the Peak Finance Derivative Action and attaches this Agreement as an exhibit without any such prior mutual agreement.
 
B. No Admission.
 
Nothing in this Agreement shall constitute (1) an admission of liability, wrongdoing or responsibility by either Party, or (2) any agreement by either Party as to the validity of any of the positions advanced by the other Party in connection with the Peak Finance Derivative Action. Rather, each Party expressly denies such liability, wrongdoing or responsibility.
 
Neither this Agreement nor any part of it may be used in any way against either Party except in an action to enforce, or seek damages for the breach of, this Agreement.
 
C. Governing Law.
 
The Agreement, including all matters of construction, validity and performance shall be governed by, and construed in accordance with, the laws of Nevada without giving effect to the choice of law or conflicts of law provisions thereof.
 
D. Counterparts.
 
This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Electronically scanned signatures (such as PDFs) shall be considered original signatures for all purposes.
 
	 
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E. Integration.
 
This Agreement reflects the entire agreement and understanding between the Parties with respect to the settlement contemplated here, and supersedes any and all other prior and contemporaneous negotiations, correspondence, understandings and agreements between the Parties, whether oral or written, regarding such subject matter. No agreements altering or supplementing the terms hereof may be made except by means of a written document signed by the duly authorized representatives of the Parties.
 
F. Construction and Joint Preparation.
 
This Agreement shall be construed together to effectuate the mutual intent of the Parties. The Parties and their counsel have cooperated in the drafting and preparation of this Agreement, and this Agreement therefore shall not be construed against any Party by virtue of its role as the drafter thereof. No drafts of this Agreement shall be offered by any Party, nor shall any draft be admissible in any proceeding, to explain or construe this Agreement. The headings contained in this Agreement are intended for convenience of reference only and are not intended to be a part of or to affect the meanin g or interpretation of this Agreement.
 
F. Further Assurances.
 
From time to time, the Parties agree to do such further acts and things and to execute and deliver such additional agreements and instruments as may be necessary to give effect to the purposes of this Agreement and the Parties' agreement and understandings hereunder.
 
	 
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IN WITNESS WHEREOF, the undersigned have each caused this Settlement Agreement to be executed by their duly authorized respective representatives.
 
	PEAK FINANCE, LLC	 

	 	 	 
		/s/ Stuart Guber 	 

	By:  
	FARUQI & FARUQI, LLP	 

	 
	STUART J. GUBER	 

	 
	101 Greenwood Ave., Suite 600 
Jenkintown, PA 19046 
Attorneys for Peak Finance, LLC
	 

 
	 
	COOL TECHNOLOGIES, INC. f/k/a HPEV INC.	
	 	 	 
		/s/ Timothy Hassett	 

	 
	By:
	 

	 
	Name: Timothy Hassett	 

	 
	Title: CEO and Director
	 

			
		/s/ Timothy Hassett 	
		TIMOTHY J. HASSETT, INDIVIDUALLY	
			
		/s/ Theodore Banzhaf 	
		THEODORE BANZHAF, INDIVIDUALLY	
			
		/s/ Quentin Ponder 	
		QUENTIN D. PONDER, INDIVIDUALLY	
			
		/s/ Judson Bibb	
		JUDSON BIBB, INDIVIDUALLY	
			
		/s/ Mark Hodowanec	
		MARK M. HODOWANEC, INDIVIDUALLY	
			

 
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